National Education Foundation Ordinance, 2002

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NATIONAL EDUCATION FOUNDATION ORDINANCE 2002 
              
 
 
CONTENTS 
1.  Short title and commencement 
2.  Definitions 
3.  Establishment of the Foundation 
4.  Objectives of the Foundation 
5.  Functions of the Foundation 
6.  Cardinal Principles 
7.  Authorities of the Foundation. 
8.  Filling in casual vacancy 
9.  Resignation by a member of the Board of Governors 
10.  Foundations Fund 
11.  Appointment of officers, employees etc. 
12.  Committees 
13.  Authentication of decisions etc. 
14.  Rules 
15.  Regulations 
16.  Winding Up 
17.  Indemnity 
18.  Repeal 
 
 
 
 

 
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NATIONAL EDUCATION FOUNDATION ORDINANCE 2002 
ORDINANCE XX OF 2002 
          [17th April, 2002] 
 1. Short title and commencement .―(1) This Ordinance may be called the National 
Education Foundation Ordinance, 2002. 
 (2) It shall come into force on such date as the  Federal Government may notify in the official 
Gazette. 
 2. Definitions. In this Ordinance, unless there is anything  repugnant  in the subject or context,— 
(a)        “Authority” means the Federal Government; 
(b)        “beneficiaries” means teachers, educationists and students; 
(c)        “Board” means the Board of Governors established  under section 7; 
(d)        “Chairperson” means the Chairperson of the Board; 
(e)        “Committee” means a Committee constituted under section 12; 
(f) “dependent” means the wife or wives, dependent parents, dependent sons and 
unmarried daughters of the teachers and, educationists and such other relatives 
of  the teachers and educationists as may be recognized by the Board to be the 
beneficiaries for the purpose of this scheme; 
(g) “disadvantaged group ” means the children below poverty line of children 
belonging to minorities or handicapped children or children living in  very    
backward remote rural areas; 
(h) “educationist” means a person engaged in educational research, planning, 
management or promotion in the Federal Ministry of Education or an 
organization  set  up  or  established  by  the  Federal  Government  or  in  any  
organization as may be recognized by the Committee for the, purposes of this 
scheme, and shall include a person who has so retired; 
(i) “Federal Administered Areas” means territories of ICT; FATA, FANA, under 
control of Federal Government and includes A.J.K for the purposes of this 
Ordinance; 
(j) “Foundation” means the National Education Foundation established under 
section 3; 
(k)        “Fund” means the fund constituted under section 10; 
(l) “Grant” means a sum of non -refundable amount advanced to an Organization 
from the Foundation”s Fund; 
(m)       “Government” means the Federal Government of Pakistan; 
 
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(n)      “Loan” means a refundable sum of money advanced by the Foundation to an 
organization; 
(o)      “Non-Governmental Organization” means an organization set up with private 
finance for ad vancement of education and  is registered under the Voluntary 
Social Welfare Agencies Registration and Control Ordinance, 1961 (XLVI of 
1961), Societies Registration Act, 1860 (XXI of 1860), the Trust Act, 1882 (II 
of 1882), and the Companies Ordinance, 1984 (XLVII of 1984) ; 
(p)        “prescribed” means prescribed by rules under this Ordinance; 
(q)        “regional office” means sub offices established in Federal Administered Areas; and 
(r)     “teacher”  means a person engaged in teaching in an educationa l  institution 
established or controlled by the Federal Government Ministry of Education or 
any   such other educational institution as may be recognized by the committee 
for purposes of this scheme, and shall include a person who has so retired. 
 3. Establishment of the Foundation.― (1) As soon as may be after the commencement of 
this Ordinance, the  Federal Government shall, for the purpose of carrying out the objectives of this 
Ordinance, by notification in the official Gazette, establish a Foundation to be known as the National 
Education Foundation. 
 (2) The Foundation shall be a body corporate having perpetual succession and a common seal 
with power to acquire, hold and dispose of property, both movable and immovable, and shall by the 
said name sue and be sued. 
 (3) The Foundation  shall be guided by following: ― 
 (i) Vision: 
(a)  Providing    quality    enabling    education    through    public    private 
partnerships for disadvantaged groups. 
 Explanation I― “enabling” means, increasing capabilities for improving well -being and 
entitlements; ability to keep pace with changing   times;   problem   solving   and   skills   to   access   
official procedures, institutions and potential resources; and enabling both individual and societal 
dimensions; 
 Explanation II―“education” means early childhood education, focus on elementary 
education, special needs within Education For All secondary and technical, integrated literacy 
programme for disadvantaged groups under EFA, Information Technology (IT) literacy,(EFA   
areas),   welfare   activities   for   Federal   Government teachers and their families, post secondary 
with specific reference to teacher   education   [all  subjects]   education   research,   management, 
policy and planning. 
 Explanation III―“disadvantaged”   means   population   living below poverty line, girls and 
women in rurla areas and urban slums, child labour,  children  in priso n,  minorities,  nomads,  slum  
dwellers, people in under-served areas including revering communities, children with special needs, 
Gender equality and not gender equity is seen as a measure of overcoming disadvantaged status for 
girls and women. 
 (ii) Mission 
 
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 To become a vibrant catalyst for quality enabling education through support to private and 
non-governmental sectors by mobilizing sufficient resources as an effective self sustaining 
organization. 
 Explanation―“private” signifies to private   sector capped at tuition fee schedules of Rs. 200 
per month for elementary education, Rs. 600 per month for secondary and technical and Rs. 1500 per 
month for tertiary or special education or as may be notified by the Federal Government from time to 
time. 
 4. Obje ctives of the Foundation. ―(1) The objectives of the Foundation are to promote 
quality and gender sensitive education in the territories of Federal administered Areas as defined in 
section 2(i). 
 (2) The three major  categories of objectives are:  
 (i) Promotion of Education 
(a) to  promote  public  private  partnerships   in  attaining  basic  education  for 
all through  multiple  delivery  systems  (up  to elementary  and  including 
early childhood and literacy for empowerment) with special focus on 
disadvantaged communities and girls by direct support to private and NGOs 
schools in the form of grants and loans. Support through loans and grants may 
be used  for establishment  of facilities,  teacher  training,  train ing  in general, 
teacher support,  curriculum support and resource centers; 
(b) to support  initiatives   in   secondary   education   especially   the   technical 
stream  including Information  Technology  (IT) literacy managed by NGOs 
and private sector on no profit basis ; 
(c)     to interface  and  facilitate  private  initiatives  with  public  ones  for 
promotion of elementary, technical, and IT programs; 
(d)   to extend assistance to existing special needs initiatives within existing 
mainstream programs to address needs of children; 
(e)      to promote welfare activities  for the teachers and education ists of the Federal 
Government Institutions including provide scholarships and assistance to 
students and teachers in genera l and to students and familie s of teachers in 
Federal Government institutions in particular. This activity shall be carried out 
of the return on the endowment fund of Federal Teacher Foundation 
transferred on its   merger with National Education Fund ; 
(f) to facilitate  and undertake  innovative  programs  between  public  and private 
sectors or otherwise and their replication; 
(g) to mobilize   and  manage   resources   and  to  act  as  a  conduit   for 
promotion of   education through multiple sources; 
(h) to assist and facilitate formulating national educational policies for the private 
sector; and 
(i) to develop  and  implement  gender  sensitivity  and  aware  raising  programs 
among teachers, students and other members of the academic community. 
 
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 (ii) Capacity Building: 
(a)  Provide support to organizations engaged in educa tion development and 
capacity building in areas of training , maintaining standards, curriculum 
management, assessment and evaluation; 
(b)  to strengthen institutional capacity of partner organizations Community Board 
Organisations and private sector organizations to become self -reliant in terms   
of quality, resource generation  a nd management and effective community   
participation for good governance in education; 
(c)  to strengthen institutional capacity of the Foundation  to manage and achieve 
its objectives, mission and Vision; 
(d)  to support programs for Teacher Education (general  and  subject specific) 
education management and planning ; 
(e)  to set up cell for private sector resource mobilization from l ocal as well as 
expatriate   Pakistanis   for   education   initiatives   through   public   private 
partnership; and 
(f)  to prepare and develop gender sensitive curriculum and materials that will 
promote equality, peace, human rights and development for all. 
 (iii) Research and development: 
(a)  to provide support to organizations engaged in education development, 
research, assessment and evaluation; 
(b)  to  share  best  practices  and  foster  exchange  of  resources  for  optimum 
education  development   including  collaborat ion with  all  Education 
Foundations,  NGOs, national,  regional and international  agencies  and other 
stakeholders ; 
(c)        to create  a  database  on  private  educational  institutions  and  related NGOs 
in the country; 
(d)  to compile  and  synthesize  sex  disaggregated  data  and  information 
available   for policy makers, research institutions, and donor agencies ; 
(e)  to influence   education   policy   through   documented   research   and 
practice; and 
(f)  to assist  in  the  maintaining  of  standards  of  education  according  to agreed 
norms in the privately managed schools. 
 5. Functions of the Foundation .―(1) Establishing partnership and collaboration with 
agencies and organizations pursuing the common goal of educational development particularly 
promoting public-private partnership; mobilizing resources for basic/elementary, 
technical/vocational education. 
 (2)   Initiating   and   maintaining   contact   and   collaborating    with   other o rganizations,   
institutions, NGOs, bodies and societies   in Pakistan and   abroad including  relevant  international  
 
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agencies,  constituents  of  UN  system  inter ested  in similar objectives and to cooperate with such 
institutions, bodies and organizations for furthering the objectives of the Foundation. 
 
 (3) Coordinating and networking with other Foundations and stakeholders, initiating, 
organizing and facilitating projects and programs on resource sharing basis. 
 (4) Providing support in providing and organizing in-service training for;  
(a)        teachers of the pilot project and innovative program; 
(b)        Private school teachers; and 
  (c)  NGO communities , representatives and members of educational committees 
   and other bodies developed for such purpose from time to time. 
 (5) Providing and administrating direct financial assistance to private school operators and 
institutions related to educational development. 
 (6) Providing consultancy services for education development and related activities as and 
when required by national, international and other organizations. 
 (7) Ensuring sustainability of  educational development under public private partnership 
through innovative  mechanisms  such as  providing  endowment  and matching grants etc. 
 (8) Ensuring that equal opportunities for education are provided to boys and girls of whatever 
social, class, colour, race or creed to promote equality, development, human rights and peace for all. 
 (9)    Fiend raising from    public,    private,    support    organization    donors, international 
agencies and other sources including income from Foundation”s projects. 
 (10) Welfare program for dependents of educationists and teachers including scholarships for 
students, financial support to widows and other related projects. 
 (11)  Developing databases, conducting research and  preparing periodical reports on 
educational development particularly in private and NGO sector. 
 (12) Providing assistance  through newsletters,  rendering  advice, developing training 
packages, providing a forum for exchange of ideas and sharing experiences among various 
stakeholders promoting educational development in particular. 
 (13)   Providing   support   and   assistance   for   the   efforts   in   educational development 
with focus on new technologies including IT etc. 
 (14) Establishing in any place in the Federal Administered Areas such regional offices, 
branches and local units as may be necessary for managing any of the affairs of the Foundation. 
 (15) Investing and dealing with all money of the Foundation not immediately required in 
such securities, shares, debentures and in such manner as shall from time to time be determined for 
the b enefit of the Foundation as may be permissible under the law and to create reserve fund, 
insurance fund and depreciation fund thereto. 
 (16) Purchasing, taking on lease or on allotment or hire or otherwise acquire, erect or adapt 
movable or immovable prope rties for the time being and to sell, let outor hire all or any portion of 
the same as considered necessary for attaining the objects of the Foundation. 
 
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 (17) Entering into any arrangement with any government authority (Federal, Provincial,  
municipal, local or otherwise),  or any corpora tion, company or persons that may be conducive  to 
the Foundation ”s  objectives and to obtain from any such government, authority,  corporation,  
company  or  person  any  charters,  contracts, decrees, rights, privileges a nd concessions which the 
Foundation may think desirable, and  to carry  out,  exercise  and comply  with  any such  charters,  
contracts,  decrees, rights, privileges and concessions. 
 (18) Opening accounts with bank or banks or approved financial institutions and to draw, 
make, accept, endorse, discount, execute and issue promissory  notes, bills of exchange, cheques, 
bills of lading, warrants, debentures, and other negotiable or transferable instruments, concerning the 
business of the Foundation. 
 6. Card inal Principles. The cardinal principles governing the whole operation of the 
Foundation” shall be that Board shall― 
 (1) Ensure that  the  resources  of the  Foundation  shall  not be used  for political patronage 
or for any other political purposes ; 
 (2) Treat  the  income  and  monies  of  the  “Foundation”,  all  of  which  shall  be considered  
public  assets,  as  a  sacred  trust  and  it  shall  be  their  prime responsibility  to administer  and 
manage Foundation  with due diligence  and transparent fiduciary  responsibility   and  for  the  
purposes  for  which  the Foundation has been established; 
 (3) Ensure that as far as possible the Foundation ”s  operations  are decentralized, subject to 
sound financial and operational management principles, to facilitate access to the Foundation ”s 
services by partner organizations in all the Federal Administered Areas ; 
 (4) Ensure  that  the  resources  of  the  Foundation  are  only  provided  to  well functioning,  
professionally  managed  institution  wit h transparent  governance and financial management 
systems ; 
 (5) Ensure that financial  assistance  to partner organizations  and beneficiaries  is based  on  
sound  principles  of cost  sharing  and sustainability,  and  financial viability where applicable. 
 7. Authorities of the Foundation. 
 I. Board of Governors: 
 (1) The Board shall consist of thirteen members, including Chairperson, as under :― 
(i)  Four  from  civil  society  i.e., NGO”s  Philanthropists,   technocrats and   
academicians from private sector, 
(ii)  Joint Educational Adviser (concerned), Ministry of Education,  
(iii)  Financial Adviser (Education), Ministry of Finance, 
(iv) Vice-Chancellor Allama Iqbal Open University, 
(v)  “Eminent educationists from ICT, FATA, FANA and AJK.” and 
(vi) Managing Director of the Foundation who shall be Member/Secretary;  
 (2) The Chairperson of the Board shall be selected by the Search Committee to be constituted  
by  the  Ministry  of  Education  comprising  members  from  the Ministry  of  Education,  Mi nistry  
 
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of  Finance  and  Planning  and  a  renowned N.G.O. involved in educational development which is 
not associated with the Foundation in running any of its programmes. 
 (3) There shall be Vice Chairman of the Board who shall be selected by the Members from 
amongst themselves. 
 (4) In order to ensure gender balance the Board may be composed of on equal number of men 
and women. 
 (5) The Members of the Board other than ex-officio members shall hold office for a period of 
three years following the date fr om which they were appointed as members   and  shall  be  eligible   
for  re -appointment   on  such  terms   and conditions as may be prescribed under the rules. The 
Retiring members of the Board shall continue to perform their functions until their succes sors are 
appointed.  For the  initial  selection  of  the  members  other  than  ex-officio members,   Ministry   
of   Education   shall   constitute   a   special   committee comprising   of   government   and   non -
government   representatives   for   the selection. 
 (6) The Board shall meet at least twice  a year. The Chairperson  or the Vice- Chairperson or 
any three Members of the Board may at any time summon a meeting of the Board. Not less than 
seven days notice shall be given to the members of any s uch meeting and the agenda and the 
working papers for the meeting shall be circulated to the members with the notice of such meetings. 
 (7) The Board  shall be responsible  for management  and administration  of the affairs of the 
Foundation at policy leve l. The Board may from time to time delegate any of its powers to a 
committee or committees consisting of three or more  members  as  it  deems  appropriate.  Any  
committee  so  formed  shall conform  to  any  regulations  that  may  be  made  by  the  Boa rd  and  
shall  be governed  in  the  exercise  of  the  powers  so  delegated  by  the  provisions contained for 
regulating meeting and proceedings. 
 (8) The  Chairperson  of  the  Board  in  consultation  with  members  may invite advisers and 
experts by special invitation to the meeting of the Board. 
 (9) The Managing Director shall be the Chief Executive of the Foundation. The Managing   
Director   shall   be  a  full   time   salary   paid   employee   of  the Foundation.  
 (10) The Board shall generall y pursue vision and mission of the Foundation for providing 
enabling education through public private partnerships for disadvantaged  groups and carry out the 
objectives of the Foundation  which includes promotion of education, capacity building arid 
Research and Development.  
 (11) The Board shall have the responsibility to determine direction and scope of the activities 
of the Foundation. It shall also have the responsibility to review, approve work plan, projects, 
approving grants, donations, loans, contributions, technical   assistance   to  partner   organizations,   
NGOs   and   others   school operators and Community Board Organisations. 
 (12) The   Board   shall   review,   revise   and   approve   the   annual   and supplementary 
budgets. 
 (13) The Board may exercise the powers of the Foundation to acquire, borrow or to mortgage  
property  or  any  part  thereof  or  to  issue  debentures  or  other securities. 
 (14) The   Board   may   from   time   to   time   and   at   any   time   appoint   any company, 
organisation, NGO or person to be the attorney or attorneys of the Foundation for such purposes 
 
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including audit of the Foundation and with such powers,  authorities  and  discretions  for  such  
period  and  subject  to  such conditions as the Board may deem appropriate. 
 (15) The Board shall record minutes to be kept in bound volume provided for the purpose: (a) 
of names of the persons present in each meeting of the Board and any  committee  of  the  Board;  (b)  
of  all  resolutions  and  proceedi ngs  at  all meetings of Board and committees of the Board. Every 
member present at any meeting of Board shall be provided minutes for obtaining their consent.” 
 (16) Minutes of the Board ’s meeting shall be open for inspection by any member during 
office hours. Minutes of the Executive Committee of all the meetings shall be presented in the next 
meeting of the Board. 
 (17) The Board may meet on a tentativ e agenda to be confirmed  at the meeting, adjourn, or 
otherwise regulate its meetings as it deems fit. 
 (18) The quorum necessary for the transaction of the business of the Board shall be observed 
as simple majority. 
 (19) All questions arising at a meeting of the Board shall be decided by simple majority of 
votes to be given by a show of hands but the Chair person may order, if so requested by any member, 
that voting on any specific question shall be by secret ballot. In the event of an equality of votes 
howsoever given the Chairperson shall have a second or casting vote. 
 (20) The Chairperson of Board shall preside at every Board’s meeting. If at any meeting he is 
not present, the Vice-Chairperson of the Board shall preside over the meeting and, failing him, the 
members present may choose one of their member to be the Chairperson of the meeting. 
 (21) A member of the board shall be paid travelling, boarding, lodging and other expenses 
incurred by them in the performance of their duties or business if any of them has to come to attend 
the Board or general meeting of the Foundation from outstation. 
 (22) The  Bo ard  may  create,  abolish  or  suspend  Foundation ”s  posts  as  deemed 
necessary: 
 Provided  that  initially  the  required  posts  shall  be  created  or  abolished  in consultation 
with the Finance Division. 
 (23) The Board may, from time to time deleg ate to the Chairperson  such of its powers as it 
may consider necessary; provided that Chairperson in any emergency, which in his or her opinion 
requires immediate action, may take such action, but the action taken shall be reported to the Board 
in the next meeting. 
 (24) The Board may delegate any of its powers to the Managing Director to enable him to 
carry out his functions. 
 (25) The  Board  may  determine,  revise  personal  requirements,  rules  and  salary structure 
of the Foundation employees accord ing to prevailing market and can also offer incentives to attract 
competent professionals. 
 (26) The  Board  may  approve,  modify  or  amend  rules  and  regulations  of  the 
Foundation framed or recommended by Executive Committee or Committee constituted for this 
purpose. 
 II. Executive Committee 
 
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 (1) There shall be an Executive Committee consisting of the following:―  
(i)         Managing Director-Chairperson. 
(ii)        Joint Educational Advisor (concerned) Ministry of Education or his nominee. 
(iii)       Financial Advisor (Education) or his nominee. 
(iv)      Two members    to   be   nominated    by   BOG   from   NGO or vicil society. 
 (2) Subject to the provisions  of this Ordinance  and the Rules and Regulations made  there  
under  and  the  general  or  special  directions  of  the  Board,  the Executive  Committee   shall  be  
the  principal  administrative   body  of  the Foundation responsible for executing all policies and 
discharging all functions of the Foundation. 
 (3) The Executive Committee shall perform the following functions:― 
(i)    Develop criteria for financing enabling quality education programs in the 
country. 
(ii)    Review and scrutinize proposals received from Private and Non- 
Governmental   Organizations,   based   on  the  eligibility   criteria  for 
financing the proposal. 
(iii)       Review and approve various programs of the Foundation. 
(iv)       Scrutiny of the budget and examining  of audit, and accounts reports.  
(v)        Recommend creation of posts or otherwise change in positions to the Board. 
(vi)       Any other matter assigned to it by the Board. 
 (4) The Executive Committee shall meet at least once in three months and or as and when 
required. 
 III. Managing Director: 
 (1) As an administrative head of the Foundation, a Managing  Director shall be appointed by 
Federal Government on recommendation of the Board. 
 (2) The appointment  of Managing  Director  may be terminated  by the Federal Government  
on  advice  of  the  Board  in  accordance  with  the  prescribed procedure.  
 (3) The Managing  Director shall  hold office, and exercise  such powers duties, obligations  
and privileges  as the Board may confer upon him from time to time  and  shall  accordingly  in  
exercise  of  such  powers  delegated  to  him conform to any limits and restrictions which may be  
imposed by the Board from time to time in this respect. The Managing Director may exercise all 
such powers and do all acts and things on behalf of the Foundation as he may be authorized to do by 
the Board. 
 (4) In case the post of the Managing Director is  vacant, an officer appointed by the 
Chairperson, shall act on his behalf and exercise powers as delegated to him by the Chairperson from 
time to time. 
 
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 (5) The Managing Director shall be responsible for the day to day management of the 
Foundation particularly for: 
(i)    ensuring that the Foundation ”s Vision, Mission, Objectives and Cardinal 
Principles are adhered to; 
(ii) proper administration of the affairs, funds and resources of the Foundation; 
(iii) making to draw, endorse, sign, accept, negotiate and give all cheques, bills of 
lading, drafts, orders, bills of exchange, promissory notes, and other  
negotiable  instruments as  may  be  required  by  and  be  in  the interest of the 
Foundation. 
(iv) securing the  fulfillment  of  any  contract,  agreemen ts, or engagements 
entered into by the Foundation by mortgage or charge of all or any of  the  
properties  of  the  Foundation  from  time  to  time  or  in  such manner as he 
may think fit in the interest of the Foundation. 
(v) appointing at his discretion through delegated powers by the Board, removing            
or suspending officers and staff including secretaries, clerks and other  
employees,     either  permanent  or temporary,  as he may, deem fit and to 
determine their    assignments and duties and  fix their salaries or emolu ments 
and he may constitute committees for this purpose; 
(vi) instituting, conducting,  defending  or abandon  any legal proceedings by or 
against the Foundation or its officers or otherwise concerning the affairs  of 
the Founda tion and also to compound  and allow time for payment or 
satisfaction of any debts due and of any claims or demands by car against 
Foundation and for the purpose to appoint advocate (s); 
(vii) referring any  claims  or  demands  by  or  against  the  Found ation  to 
arbitration and observe and perform the awards; 
(viii) exercising supervision  and  disciplinary  control  over  the  work  and conduct 
of  all employees of the Foundation; and 
(ix) any other tasks as may be delegated by the Board.  
 (6) The Managing Director― 
(a) may in writing delegate his powers, as he may consider necessary to any 
officer of the Foundation; 
(b)     exercise in respect of the Foundation such administrative and financial powers 
including powers of delegation as may be delegated to him by the Board or the 
Chairperson; 
(c)       submit the annual work plan and budget of the Foundation to the Executive 
Committee and the Board;  
(d)        operate the accounts of the Foundation; 
(e)        prepare the annual report of the Foundation for the Board. 
 
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(f)     have powers  to  incur  miscellaneous,  contingent  expenditure within the 
budgetary provision; 
(g) exercise powers of a controlling officer in respect of his own and  the  
traveling  allowance  bills  of  the  employees  of  the Foundation; and 
(h) interacting with  international  agencies  and  donors,  preparing  and 
submitting    projects negotiating and executing partnership programs and 
projects with partner organization. 
 8.  Filling  in casual vacancy. Any  casual  vacancy  caused  due  to  the  permanent absence  
of a member,  other  than ex-officio  members,  shall  be filled  by a person nominated by the Federal 
Government and the person so nominate shall hold office for the un-expired period of the term of his 
predecessor. 
 9. Resignati on by a member of the Board of Governors. A member of the Board of 
Governors, other than an ex-officio member, may, at any time, resign his office by letter addressed to 
the Chairperson provided that no resignation shall take effect until it has been accep ted by the 
Federal Government. 
 10. Foundation”s Fund.―(1) There shall be Foundation”s Fund to be known as the “Fund”, 
and the following shall be the sources of the Fund, namely― 
(a)        grants made by the Federal Government; 
(b)        income from investments made by the Foundation; 
(c) donations and    e ndowments    from    national    and    international, 
organizations; and 
(d) revolving funds placed by the Federal Government and incomes from other 
sources. 
 (2) The Fund shall be kept in such custody and shall be utilized and regulated in such manner 
as may be prescribed. 
 (3) The  accounts  of the Foundation  shall  be maintained  in such  form  and manner as may 
be prescribed and shall be audited by an auditor to be appointed by the Federal  Government  being  
a  person  who  is  a  Chartered  Accounta nt  within  the meaning of the Chartered Accountants 
Ordinance, 1961 (X of 1961). 
 (4) The Foundation shall, after the end of every financial year, submit to the Board the 
audited annual statement of accounts of the Foundation, together with the report of the auditor. 
 (5) The Foundation shall also submit to the Board after the end of every year a report of its 
activities during that year. 
 11. Appointment of officers, employees etc. For the efficient” performance of its functions, 
the Foundation may appoin t its employees, with the prior approval of the Board on such terms and 
conditions as may be prescribed. 
 12. Committees. ― (1) The Board may constitute such financial, technical, advisory and 
other committees which may be deemed necessary for carrying out the purposes of this Ordinance. 
 
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 (2) The composition and functions of a committee shall be such as the Board may determine. 
 13. Authentication of decisions etc. All decisions of the Board shall be authenticated  by  
the  signature  of  the  Chairperson  o r  of  any  other  member authorized by the Board in this behalf 
and all other orders or instruments issued or executed by or on behalf of the Board shall be 
authenticated  by the signature of an officer of the Board authorized by it in this behalf. 
 14. Rules. The Federal Government may, by notification in the official Gazette, make rules 
for carrying out the purposes of this Ordinance. 
 15. Regulations. Subject to this Ordinance and the rules made thereunder, the Board may, 
with the previous approval of the Federal Government, make regulations for all matters not provided 
for in the rules for which provision is necessary for carrying out the purposes of this Ordinance and 
the rules. 
 16. Winding Up. The Foundation shall be wound up voluntarily whenever a special 
resolution is passed by the Board and is so consented by the Authority. 
 17. Indemnity. No suit, prosecution or other proceedings shall lie against any officer or  
employee  of  the  Foundation  or  any  other  person  exercising  any  power  or performing   any   
function   under   this   Ordinance   or   the   rules   or   regulations made thereunder for anything 
which is done in good faith. 
 18. Repeal. The National Education Foundation established under Notification S.R.O. No. 
487(I)/97, dated 26-06-1997, shall stand repealed.