/me Working document GOVERNMENT OF REPUBLIC OF LITHUANIA RESOLUTION NO

/me Working document GOVERNMENT OF REPUBLIC OF LITHUANIA RESOLUTION NO 685 ON ESTABLISHMENT OF GUARANTEE FUND 7 June 2001 Vilnius Pursuant to the Law of the Republic of Lithuania on the Guarantee Fund (Žin. 2000, No.82-2478), the Government of the Republic of Lithuania hereby has resolved :

To establish the Guarantee Fund.
To liquidate the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises, which has been operating since 15 June
To approve the Statute of the Guarantee Fund (appended).
To approve the Council of the Guarantee Fund (appended).
To restructure the Secretariat of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises, which has been operating since 15 June 2001 under the Ministry of Social Security and Labour, into the Administration of the Guarantee Fund under the Ministry of Social Security and Labour, without implementing the conditions of paragraph 13 of the 10 May 1996 Decision of the Government of the Republic of Lithuania, No. 554, "On the approval of the procedure for the restructuring and liquidation of budgetary institutions" (Žin., 1996, No. 46-1120; 2000, No.48-1390), which are applicable to the procedure of restructuring and liquidating budgetary institutions.
To obligate the Ministry of Social Security and Labour with the following tasks: 6.
to implement the functions of the founder of the Guarantee Fund's Administration under the Ministry of Social Security and Labour; 6.
to draft a restructuring plan for the institution, envisaged in paragraph 5, and to set up a commission for implementation thereof; 6.
to approve the personal composition (appointed representatives) of the Council of the Guarantee Fund; 6.
to propose amendments to corresponding legal acts in order to create a legal basis for transferring the functions contained in paragraph 10 to the public limited company Turto Bankas [Assets Bank] at the same time as seeking to avoid duplication of functions at different state institutions;
To authorize the commission for the restructuring of the Secretariat of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises under the Ministry of Social Security and Labour to transfer the Secretariat's balance in account into the current account of the Guarantee Fund's Administration under the Ministry of Social Security and Labour by 1 July
The Ministry of Finance shall transfer the funds in the possession of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises into the State Treasury account of the Guarantee Fund at the Bank of Lithuania. The funds being received from enterprises by the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises shall be transferred into the same bank account. The accounting of the Fund's resources shall be carried out in separate bank accounts in keeping with the purpose-based assets management procedure outlined in paragraph 4 of Article 12 of the Law of the Republic of Lithuania on the Guarantee Fund.
To establish the following procedures: 9.
in the event of failure to recover financial assistance resources allocated from the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises, the Guarantee Fund Administration under the Ministry of Social Security and Labour shall be regarded as the enterprise's creditor as of 15 June 2001; 9.
in the event it has not been sold at public auctions, the real estate of enterprises that has been put up as security against refundable financial assistance received from the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises, as well as enterprises' real estate that is subject to retroactive claims to recover disbursements from the Guarantee Fund, shall be transferred to the state enterprise Valstybes Turto Fondas [State Assets Fund] under assets transfer acts conforming to the model form established by the State Assets Fund. The Council of the Guarantee Fund shall be in charge of the use, sale and price reduction issues pertaining to other assets that have not been sold through public auctions; 9.
the Government of the Republic of Lithuania shall be in charge of taking decisions, on recommendation by the Council of the Guarantee Fund, on writing off the unrecovered financial assistance allocated from the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises as the Fund's loss in the event proceeds from the sale of the assets of an enterprise through public auctions are not sufficient to repay the enterprise's debt to the Fund; alternatively, the government shall be in charge of recognizing the said unrecovered assistance funds as deferred receivables of the Fund in the event the assets of the enterprise have not been sold in public auctions and are to be transferred to the state enterprise State Assets Fund.
To commission the Guarantee Fund Administration under the Ministry of Social Security and Labour to represent the Guarantee Fund's credit claims in enterprises, courts of law and other institutions in recovering funds allocated from the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises and the Guarantee Fund.
As of 15 June 2001, to consider as null and void the following legal acts: 11.
the 11 August 1997 decision of the Government of the Republic of Lithuania, No. 902, "On the establishment of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises" (Žin., 1997, No.76-1960); 11.
the 1 September 1997 decision of the Government of the Republic of Lithuania, No. 934, on partial amendment of the 11 August 1997 Government decision, No. 902, "On the establishment of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises" and on the approval of the Council of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises" (Žin., 1997, No.82-2060); 11.
the 27 March 1998 decision of the Government of the Republic of Lithuania, No. 359, "On the approval of the Council of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises" (Žin., 1998, No.31-831); 11.
the 30 March 1998 decision of the Government of the Republic of Lithuania, No. 369, "On the partial amendment of the 11 August 1997 decision of the Government of the Republic of Lithuania, No. 902, `On the establishment of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises" (Žin., 1998, No.31-832); 11.
the 13 July 1998 decision of the Government of the Republic of Lithuania, No. 872, "On the partial amendment of the 27 March 1998 decision of the Government of the Republic of Lithuania, No. 359, `On the approval of the Council of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises" (Žin., 1998, No.64-1851); 11.
the 28 September 1998 decision of the Government of the Republic of Lithuania, No. 1160, "On the partial amendment of the 11 August 1997 decision of the Government of the Republic of Lithuania, No. 902, `On the establishment of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises" (Žin., 1998, No.86-2400); 11.
the 16 October 1998 decision of the Government of the Republic of Lithuania, No. 1242, "On the partial amendment of the 27 March 1998 decision of the Government of the Republic of Lithuania, No. 359, `On the approval of the Council of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises" (Žin., 1998, No.92-2562); 11.
the 15 December 1998 decision of the Government of the Republic of Lithuania, No. 1449, "On the partial amendment of the 27 March 1998 decision of the Government of the Republic of Lithuania, No. 359, `On the approval of the Council of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises" (Žin., 1998, No.111-3083); 11.
the 6 January 1999 decision of the Government of the Republic of Lithuania, No. 1, "On the partial amendment of the 11 August 1997 decision of the Government of the Republic of Lithuania, No. 902, `On the establishment of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises" (Žin., 1999, No.5-102); 11.
the 4 February 1999 decision of the Government of the Republic of Lithuania, No. 114, "On the partial amendment of the 27 March 1998 decision of the Government of the Republic of Lithuania, No. 359, `On the approval of the Council of the Fund to Meet the Labour-Related Claims by the Employees of Bankrupt Enterprises and Enterprises Undergoing the Bankruptcy Procedure" (Žin., 1999, No.14-364); 11.
the 24 January 2000 decision of the Government of the Republic of Lithuania, No. 73, "On the partial amendment of the 27 March 1998 decision of the Government of the Republic of Lithuania, No. 359, `On the approval of the Council of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises" (Žin., 2000, No.7-194); 11.
the 23 February 2000 decision of the Government of the Republic of Lithuania, No. 204, "On the partial amendment of the 11 August 1997 decision of the Government of the Republic of Lithuania, No. 902, `On the establishment of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises" (Žin., 2000, No.18-434); 11.
the 9 June 2000 decision of the Government of the Republic of Lithuania, No. 668, "On the partial amendment of the 27 March 1998 decision of the Government of the Republic of Lithuania, No. 359, `On the approval of the Council of the Fund to Meet the Labour-Related Claims by the Employees of Enterprises Undergoing Bankruptcy Procedures and Bankrupt Enterprises" (Žin., 2000, No.48-1395); Minister of Finance, Acting as Prime Minister Jonas Lionginas Minister of Social Security and Labour Vilija Blinkevičiūtė APPROVED By decision of Government of Republic of Lithuania of 7 June 2001, No.
STATUTE OF GUARANTEE FUND i. GENERAL PROVISIONS
The Guarantee Fund (hereinafter referred to as Fund) is a monetary fund established on the basis of the Law on the Republic of Lithuania on the Guarantee Fund.
The founder of the Fund is the Government of the Republic of Lithuania. The Fund shall be managed in compliance with the Constitution of the Republic of Lithuania, the Law of the Republic of Lithuania on the Guarantee Fund, the Law of the Republic of Lithuania on Enterprise Bankruptcy, other legal acts and this Statute.
The fund shall be headed by the Council of the Guarantee Fund (hereinafter referred to as Council).
Administration of the Fund shall be carried out by the Guarantee Fund Administration under the Ministry of Social Security and Labour (hereinafter referred to as Administration of the Fund). The Administration of the Fund is a legal entity with a current bank account and a stamp bearing its name. II. FUND'S RESOURCES AND USE THEREOF
The Fund's assets consist of monetary resources accumulated at its State Treasury account at the Bank of Lithuania as stipulated in Article 4 of the Law of the Republic of Lithuania on the Guarantee Fund.
The Ministry of Finance shall be in charge of managing the Fund's revenues and expenditures.
The Ministry of Finance shall transfer resources allocated from the Fund to the Administration of the Fund or to an enterprise upon receipt from the Fund Administration of payment requests approved by the established procedure.
Resources from the Fund shall be used to pay employees of bankrupt enterprises and enterprises undergoing bankruptcy procedures who have severed their labour relations with the said enterprises, as well as to employees who still maintain labour relations with enterprises in the process of going bankrupt in the event the enterprises are in debt to the their employees. The fund is administered from the Fund's own resources in keeping with a cost estimate approved by the Council of the Fund.
The Fund's financial statements shall be verified by an audit company (auditor) on an annual basis. The Council of the Fund shall publish the Fund's annual financial statement accompanied by the auditor's statement in the information supplement "Informaciniai Pranešimai" of the official state bulletin "Valstybės Žinios" [Official Gazette] within three months of the end of the fiscal year. III. ALLOCATION OF RESOURCES
Within two weeks of the approval of the creditor claims, the receiver or chairman of the liquidation commission of a bankrupt enterprise or enterprise undergoing bankruptcy procedures that has outstanding claims by employees for wage arrears and other deferred payments related to labour relations (monetary compensations for unused annual leave, severance pay, compensation of damage caused by accidents at work or occupational disease, as well as payment for enterprise idleness time) must submit to the Fund's Administration an application for allocation of funds, an assessment of the amount of money required, a provisional list of employees entitled to claims and other documents envisaged in the recommendations of the Fund's Council and published in the "Informaciniai Pranešimai" supplement of the official state bulletin "Valstybės Žinios". Applications shall be registered by the Fund's Administration upon submission of all the required documents.
In its request, the enterprise shall indicate the specific outstanding payment arrears for a specific period, the causes and duration of the arrears, the possibility of repaying the arrears from proceeds generated by the sale of assets under the Fund's retroactive claims procedure, the date of filing for bankruptcy, the enterprise's status and other essential circumstances of the bankruptcy case.
Upon receipt of the enterprise's application accompanied with the required documents, the Administration of the Fund shall register, analyse and submit them for consideration at a meeting of the Fund's Council within a month of receipt of the application. In the event the enterprise's applications and accompanying documents do not comply with the criteria listed in paragraphs 10 and 11, the Fund's Administration gives a specific period of time for eliminating the shortcomings. In the event of failure to eliminate the shortcomings within the established period of time, the submission of documents to the Fund's Council is postponed. After the enterprise has submitted all the needed documents, its application shall be considered and discussed through the procedure outlined in the current Statute.
If employees (employee) of a bankrupt enterprise or enterprise undergoing bankruptcy procedures, or an organization representing them, informs the Council of the Fund in writing that the enterprise's receiver or chairman of the liquidation commission had not appealed to the Fund's Administration for allocation of resources within two months of approval of creditor claims, allocation of resources shall be initiated by the Fund's Administration.
Employees (employee) of bankrupt enterprises and enterprises undergoing the bankruptcy procedure, or an organization representing them, shall give the receiver of the enterprise undergoing bankruptcy procedures or the chairman of the liquidation commission of the bankrupt enterprise a 15-day notice about their intention to appeal to the Council of the Fund. A certified copy of the notification shall be attached to the application to the Administration of the Fund.
Having initiated allocation of resources, the Fund's Administration shall give a five-day notice about its decision to the receiver of the enterprise in the process of bankruptcy or chairman of the liquidation commission of the bankrupt enterprise. Subsequently, the receiver or liquidation commission chairman shall submit to the Fund's Administration an application for the allocation of resources within 20 days of receiving the notification, also submitting the amount of money needed, lists of employees eligible to payouts from the Fund and other document contained in paragraph
Having analysed the documents submitted, the Fund's Administration shall pass them on for consideration by the Council of the Fund within a period of time set out in paragraph
The Fund's Council shall take a decision on allocation of resources not later than one month after receipt of the documents from the Fund's Administration. Taking into account the amount of the Fund's resources available against the amount of the claims and seeking to at least partially satisfy the claims of as large a number of employees as possible, the Fund's Council may postpone the allocation of payouts envisaged in paragraphs 2, 3 and 5 of Part 1 of Article 5 of the Law on the Republic of Lithuania on the Guarantee Fund until there is a sufficient amount of resources in the Fund to meet those claims. In cases where a certain amount of wage arrears has been paid to the employees of the enterprise during the bankruptcy procedure, the payouts envisaged in paragraph 1 of Part 1 of Article 5 of the Law on the Republic of Lithuania on the Guarantee Fund shall be reduced by the amount of the arrears already paid.
In the event a decision is taken by the Fund's Council to allocate resources to pay the employees of a bankrupt enterprise or enterprise undergoing bankruptcy procedures, the Fund's Administration shall draw a draft agreement on the transfer of resources from the Fund to the enterprise within 15 days and informs the enterprise's receiver (liquidation commission chairman) about the date of signing the agreement.
The resources transfer agreement (concluded in two copies) shall indicate: 18.
the amount of resources allocated for payment to employees (funds to be paid to employees exclusive of individuals' income and state social insurance taxes); 18.
the account number of the enterprise to which the funds shall be transferred; 18.
the time of paying the dues to the employees; 18.
sanctions in the event of misappropriation of resources received from the Fund; 18.
a commitment by the receiver of an enterprise undergoing bankruptcy procedures or the chairman of the liquidation commission of a bankrupt enterprise to include the Fund's Administration in the list of the enterprise's creditors and to submit this list for approval by an appropriate court of law. Lists of employees entitled to payouts from the Fund, drawn up on the bases if a model established by the Fund, must be attached to the agreement on the transfer of resources. IV. MAMANEGEMENT OF FUND
The Council of the Guarantee Fund shall be subject to approval by the Government of the Republic of Lithuania. The composition of the Council of the Fund is subject to approval by the Minister of Social Security and Labour.
The Council of the Guarantee Fund shall be comprised of 12 members: four members shall represent organizations protecting the interests of workers (professional unions and their associations), four members shall represent organizations of employers (unions, associations, etc.) and four shall represent state administration institutions (Ministry of Finance, Ministry of Social Security and Labour, Ministry of Economy, Ministry of Agriculture). Representatives of the organizations protecting the interests of workers and representatives of employers shall be delegated by the organizations that represent them.
The activities of the Council of the Guarantee Fund shall be directed by the Chairman. The Chairman shall be appointed by the Government from representatives of state administration institutions. In the temporary absence of the Chairman of the Fund's Council, the Chairman shall be substituted for, at the Chairman's authorization, by one of the Council members representing state administration institutions.
The Council of the Guarantee Fund shall: 22.
manage the resources of the Fund; 22.
approve the budget of the Fund; 22.
take formal decisions on the allocation of resources from the Fund and on other issues related to the Fund's operations; 22.
submit proposals to the Government regarding the setting of a ceiling to the liability for workers’ outstanding claims for wage arrears and payments for idleness periods; 22.
submit semi-annual and annual statements on the activities of the Guarantee Fund to the Government; 22.
submit proposals to the Government of the Republic of Lithuania on writing off as losses resources allocated from the Fund in nonrefundable financial assistance to meet the labour-related claims by the employees of bankrupt enterprises and enterprises undergoing bankruptcy procedures as well as proposals on other issues related to the Fund's activities; 22.
approve the model form of the agreement on the transfer of resources from the Fund to enterprises; 22.
set aside resources in the Fund's budget for the Fund's Administration and other administration and organizational expenditures of the Fund. These resources shall be transferred to the account of the Fund; 22.
approve the procedures and regulations of the Fund's Council; 22.
approve recommendations on documents to be submitted by enterprises; 22.
take decisions on other issues related to the resources allocated from the Guarantee Fund in refundable financial assistance to meet the labour-related claims by the employees of bankrupt enterprises and enterprises undergoing bankruptcy procedures.
The Council of the Fund shall be convened at least once a month at the initiative of the Chairman of the Council. The Council may also be convened by not less than three of its members.
Members of the Fund's Council who are unable to attend Council meetings shall notify the Fund's Administration about their absence in advance. They may commission their representatives to participate in meetings of the Council with the right of an advisory vote; alternatively, absent Council members may vote in writing on every issue included in the agenda of the meeting.
Members of the Council shall have no right to vote on issues in the event they may have an interest in a certain decision being taken. Each member of the Council shall inform the other participants of the meeting about such interests.
Decisions taken by the Fund's Council shall be considered valid if not fewer than two-thirds of the Council members have taken part in the meeting. Decisions are taken at meetings by a simple majority of votes of the Council members present. In cases where votes are distributed equally, the vote of the Chairman of the Council shall take precedence.
Minutes shall be taken of all the meetings of the Council of the Fund. If requested by members of the Council, their personal opinions shall be included in the minutes of Council meetings. The protocol of each meeting of the Fund's Council shall be signed by the meeting leader and secretary. The secretary of the sitting shall be a civil servant from the Fund's Administration.
Interested enterprises are informed about decisions taken by the Council of the Fund by sending them excerpts from the protocol of the relevant Council sitting.
Technical servicing of the Council of the Fund shall be provided by the Administration of the Fund, the structure of which is subject to approval by the Social Security and Labour Minister.
The Administration of the Fund is a state institution guided in its activities by the Constitution of the Republic of Lithuania, the Law of the Republic of Lithuania on the Guarantee Fund, the Law of the Republic of Lithuania on Enterprise Bankruptcy, the Law of the Republic of Lithuania on the Civil Service and other laws, decisions by the Government of the Republic of Lithuania, this Statute, decisions by the Council of the Fund and other legal acts.
The Administration of the Fund shall be headed by a Director, who shall be appointed and dismissed by the Social Security and Labour Minister in keeping with the procedures contained in the Law of the Republic of Lithuania on the Civil Service. The Director of the Fund's Administration is entitled to having a deputy. The deputy director and other civil servants in the Administration of the Fund are appointed and relieved of their duties by the Director of the Administration of the Fund in keeping with the procedures contained in the Law of the Republic of Lithuania on the Civil Service.
The Administration of the Fund shall perform the following duties: 32.
accept applications from bankrupt enterprises and enterprises undergoing bankruptcy procedures for allocation of resources for payments to employees who have severed their labour relations with the said enterprises as well as payments to employees who still maintain labour relations with enterprises undergoing bankruptcy procedures in the event these enterprises are in debt to their employees; 32.
initiate allocation of resources in the event employees or representatives thereof submit a report that the receiver of an enterprise undergoing bankruptcy procedures or the chairman of the liquidation commission of a bankrupt enterprise has not appealed to Fund's Administration for allocation of resources within two months of approving creditor claims; 32.
establish the compliance of the material provided by enterprises with the legal acts regulating allocation of resources and informs interested enterprises about its conclusions; 32.
provide the Council of the Fund with conclusions on the received applications for allocation of resources, draft decisions and proposals to be discussed at sittings of the Council of the Fund; 32.
organize sittings of the Council of the Fund; 32.
draw up and submit material on issues to be discussed at forthcoming Council meetings to Council members; 32.
draw up protocols of meetings of the Fund's Council, supply additional information during meetings and carry out other instructions issued by the Council of the Fund and its Chairman; 32.
organize implementation of decisions taken by the Council of the Fund. In the event the Council of the Fund takes a decision to allocate resources, the Administration shall conclude a contract with the enterprise concerned on the transfer of resources from the Fund; 32.
provide the Ministry of Finance with copies of agreements on the transfer of resources from the Fund; 32.
draft semi-annual and annual reports on the Fund's activities; 32.
accumulate information about the Fund's resources and control the use thereof; 32.
upon instruction by the Fund's Council, draft legal acts related to the activities of the Fund; 32.
upon instruction by state institutions and offices, analyse letters addressed to them by the employees and former employees of enterprises in order to inform them about wage arrears and other labour-related overdue payouts; 32.
analyse complaints and requests by citizens addressed to the Council or Administration of the Fund and submit clarification to applicants regarding the procedures and conditions of allocating resources from the Fund.
In pursuing the activities stipulated herein, the Fund's Administration has the following rights: 33.
to demand that enterprises undergoing bankruptcy procedures and bankrupt enterprises provide the Fund's Administration with the needed documents and other information necessary to enable the Fund's Council and Administration to implement their duties; 33.
to obtain from ministries and other state institutions conclusions on applications by enterprises undergoing bankruptcy procedures or bankrupt enterprises for allocation of resources from the Fund; 33.
upon approval by the chairman of the Fund's Council, to invite specialists, experts and other interested individuals to meetings in order to help solve issues included in the agenda; 33.
to submit proposals to the Council of the Fund on improving the work of the Fund's Council and Administration; 33.
to use resources allocated for maintaining the Fund's Administration and other organizational expenditures of the Fund.
The Administration of the Fund shall carry out the accounting procedures and provide financial, accounting and statistical information to state institutions, offices and the Fund's Council in keeping with the rules stipulated in legislation.
The Director of the Administration of the Fund is subordinate to the Social Security and Labour Minister, whereas the Fund's civil servants are subordinate to the Director of the Fund's Administration.
The director of the Fund's Administration shall: 36.
organize the work of the Administration of the Fund; 36.
represent the Fund's interests in state and municipal institutions and offices, courts of law, arbitrations and other institutions, offices and organizations; 36.
fix the amounts of official salaries and bonuses paid to the civil servants of the Fund's Administration, encourage them and impose administrative civil service penalties on them in keeping with the procedure outlined in the Law of the Republic of Lithuania on the Civil Service; 36.
approve the definitions of the duties of the civil servants employed in the Administration of the Fund; 36.
bear responsibility for the use of resources allocated to the Fund's Administration and for implementation of financial transactions related thereto, issue decrees, sign bank cheques, contracts and other documents of the Administration of the Fund; 36.
when requested by the Council, submit reports to the Council of the Fund on the work of the Administration; 36.
exercise powers delegated to him under other legal acts.
In the event the Director of the Administration of the Fund is absent temporarily, he (she) shall be substituted for by a civil servant of the Fund's Administration appointed personally the Director.
Salary shall be paid to the Director of the Fund's Administration and its civil servants in keeping with the decision No. 499 by the Government of the Republic of Lithuania "On the temporary probationary procedure of paying salaries to the heads and other staff of state, government and law-and-order institutions" (Žin., 1992, No. 3-62) and the approved terms and conditions of paying salaries to institutions subordinate to ministries until the approved salary system of the civil service of the Republic of Lithuania comes into force.
The Administration of the Fund shall be financed from resources allocated in the Fund's budget for maintaining the Administration as well as for other administration and organizational expenditures.
Decisions on restructuring or liquidating the Administration of the Fund shall be in the competence of the Ministry of Social Security and Labour. V. FINAL PROVISIONS
Decisions on restructuring or liquidation of the Fund shall be in the competence of the Government of the Republic of Lithuania.
Upon liquidation of the Fund, the procedure of using the assets of the Fund shall be set by the Government of the Republic of Lithuania. –––––––––––––––– APPROVED By decision of Government of Republic of Lithuania of 7 June 2001, No. 685 COUNCIL OF Guarantee Fund. Chairman of Council -- R. Kairelis -- Deputy Minister of Social Security and Labour Members: Representative of Ministry of Finance Representative of Ministry of Economy Representative of Ministry of Agriculture Representative of Lithuanian Trade Unions Centre Representative of Lithuanian Trade Unions Association Representative of Lithuanian Workers' Union Representative of Lithuanian Labour Federation Representatives (not more than two) of Lithuanian Industrialists' Confederation Representatives (not more than two) of Lithuanian Business Employers' Confederation ––––––––––––––––

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