- In the framework of the Smile.al platform, this Regulation sets forth the terms and conditions for its operation and the role and composition of governance bodies.
- The key aims of the Regulation are:
- To define precisely the key principles for the operation of the platform
- To describe the terms for inclusion in the platform
- To set forth the specific roles of the governance bodies
- To ensure consistency and transparency in the implementation of procedures relating to the above.
3.The Foundation Units responsible for updating this Regulation are:
- The CSR Marketing Department as competent and responsible unit for monitoring compliance with the Regulation governing the workings of the e-platform and the
- The Marketing Department as the unit responsible for coordinating the Program’s modus operandi.
- The Marketing Department as the unit responsible for the management and proper functioning of the e-platform.
The Smile.al platform aims at supporting initiatives for social protection, welfare and solidarity, social and innovative entrepreneurship and investments on human capital, with a focus on the community, the environment and sustainable development. In addition, it endeavors to contribute to the efficient management of funding by individuals and/or legal entities that want to help transform the Albanian economy and generally the situation in Albania financially, socially and environmentally.
The resources collected will be provided to the following thematic areas of the Smile.al platform:
- Welfare, Health and Solidarity
- Social Economy and Entrepreneurship
- Culture and Cultural Entrepreneurship
- Young and Innovative Entrepreneurship
- Environment and Sustainability
- Research, Education and Training
- Sporting Activities
The operation of the platform shall be based on the platform specially designed for this end, through which individuals or legal entities (the donors) will be able to offer money, make donations in kind, or provide services in the context of the current action of the platform.
The Smile.al platform intends to cover gradually all types of crowdfunding activities, in line with applicable laws and regulations, and especially to leverage the potential to raise funds by means of: (i) donations (donation model), (ii) loans (lending model) and (iii) equity funding (equity model). Initially the platform will focus on the donation model, gathering funds from participants.
The bodies of the platform are:
The Strategy Committee
Aim, Duties & Responsibilities
The Strategy Committee aims at providing on an ongoing basis advice on the strategic direction of the platform on the basis of the expertise and significant experience of its members, and at approving the bodies implementing the actions and projects to be implemented. This advice concerns issues regarding current developments in the action areas of the platform and at the same time provides new strategic ideas and proposals for consideration and execution by the Management Committee.
With a view to optimizing the role of the Smile.al platform, the Strategy Committee shall:
- Monitor the development of the Program by providing support and advice on issues concerning its actions;
- Approve, at least twice a year, the bodies implementing the actions for each key area, following a proposal by the Management Committee.
- Approve, at least twice a year, the actions, following a relevant recommendation by the Management Committee.
- Propose new fields of actions and activities in the context of the platform;
- Process any questions posed by the Management Committee, by providing the relevant answers and clarifications at advisory level.
Composition & Selection of Members
- The Strategy Committee is composed of at least five (5) members, individuals and legal entities, which support the Committee’s work and the platform, in general, with their expertise and experience on corporate social responsibility and other issues, as specified herein below, and/or contribute by providing funds to Slime.al.
- One of the Foundation Credins members will be also Chair of the Program’s Strategy Committee. At least two (2) members are selected by Foundation Credins and are appointed by an Administration Act.
- The other members of the Committee are approved by the partners based on the need of representation of institutions and bodies that participate in the platform, as well as on their expertise with respect to sponsorships, crowdfunding, corporate social responsibility and general contribution to society at large. The number of the Strategy Committee members can be increased subject to a unanimous decision of the existing members following a proposal of the Committee Chair.
- The term of office of the Strategy Committee members is for one year and may be renewed indefinitely.
- Pursuant to the Smile.al Regulation, the Strategy Committee members shall not receive remuneration for their participation therein and shall not be liable for the management of the Actions and the Program in general, for which the Management Committee is responsible under the Law.
- Shall convene at least twice a year and keep minutes of its meetings.
- Shall form a quorum and validly deliberate when one half plus one of its members (including the Chair or the substitute thereof) is present.
- Shall be supported by a Secretariat, in order to effectively perform its tasks and record/document its decisions. The Chair of the Strategy Committee appoints two (2) members and each body participating thereto one (1) member of the Secretariat, who shall also not receive remuneration
The Management Committee
The Program is coordinated, run and managed by Foundation Credins, through the Management Committee appointed by a decision.
The Management Committee receives the guidelines required for the selection of actions and cooperation by the Chair of the Strategy Committee, in line with the Foundation’s strategy and its CSR policy. In addition, it prepares and submits progress, monitoring, assessment and accountability reports to the Strategy Committee.
Its main responsibilities and duties are:
- The prior selection of actions on the basis of specific criteria (for example: detection of needs per action area, feasibility of implementing each proposed action, estimated cost in relation to the outcome pursued) and the submission of a complete “documentation file” for each action and of a relevant recommendation, for the purposes of making the final selection of the actions to be implemented and receiving approval by the Strategy Committee.
- The prior selection of the implementing bodies, following reception of their expression of interest and assessment of specific eligibility criteria, such as:
- Institutional criteria
- To have been lawfully established and have management bodies
- To have been registered with the relevant registers, if required
- To comply with the applicable regulatory framework regarding AML/CFT
- There is no irrevocable court order against it and/or its legal representative regarding fraud (within the meaning of article 1 of the Convention on the Protection of the European Communities’ Financial Interests), participation in criminal organizations (as per article 2.1 of Council Joint Action 98/773/JHA), corruption (as per article 3 of the Council Act dated 26 May 1997 and article 3.1 of Council Joint Action 98/742/CFSP), and money laundering (as per article 1 of Council Directive 91/308/EEC on prevention of the use of the financial system for the purpose of money laundering).
- Financial criteria
- To have financial statements at least for the last years
- Not to have outstanding social insurance or tax obligations
- To have allocated or managed funds for charity or other purposes
- To be creditworthy pursuant to the criteria each time applicable for establishing a business relationship with credit institutions and to have adequate resources for its operation
- Other criteria that may weigh in favor of the candidate
- To have adequate experience in similar actions, as well as proven contribution to the action area
- A declaration of its legal representatives regarding its administrative, scientific and operating capability to provide the required support in the context of each action, by applying and observing the principles of transparency, dedication and accountability
Each implementing body can submit the relevant application through the platform’s site.
Following completion of the prior selection, the Management Committee shall submit a recommendation regarding final selection and approval of the bodies to participate in the platform by the Strategy Committee.
- Coordination of required actions between implementing bodies and donors
- Management of actions and cooperation, including all required steps for the support of actions (e.g. account opening and management in the context of actions etc.)
- Control and monitoring the management and implementation of the individual stages of each Action and the observance of the agreed timeframes
- Assessment of the platform’s work on the basis of the relevant progress and monitoring reports
- Promotion of the platform and individual actions and projects, in cooperation with the implementing bodies
- Cooperation with the competent Units of the Foundation with a view to ensuring compliance of each action/project with the regulatory and legislative framework applicable from time to time
- Management of crises and risks arising from action implementation, in cooperation – where appropriate – with the respective implementing bodies.
- Selection of an independent external auditor
The Management Committee is responsible under the Law for the management of the Actions and generally the platform.
Composition & Selection of Members
The members of the Management Committee is Marketing Department of the Foundation and their number is determined by a decision. A prerequisite is their expertise on the issues within the scope of their duties, as to be determined by the Board decision.
- The term of office of the Management Committee members is for one year and may be renewed indefinitely
- In accordance with the Regulation of the Smile.al platform, the members of the Management Committee shall not receive remuneration for their participation therein.
GENERAL RULES AND PRINCIPLES
Transparency and clarity in filing: Each action in the context of the Program shall be described with full clarity and transparency so that each participant shall fully understand the relevant procedures before deciding to participate therein. Through the platform each interested party shall be able to pose relevant questions/requests that will be answered by a special subcommittee in line with a specific procedure.
- Accountability: By 31 December of each year the Management Committee shall submit a fundraising accountability report with the competent bodies of the Foundation as provided for by law. All cooperating bodies adhere to the requirements of the platform and the special terms of operation of the platform. All related documents and data are kept in a relevant file for a least five (5) years following termination of the cooperation and are available to the competent judicial and supervisory authorities, in the event of fraud or other suspicious activities.
The e-Platform shall operate in accordance with specific terms and conditions that each user must be aware of and must have acknowledged before participating in the platform.
Credins Foundation shall take all measures to ensure the proper and lawful collection and processing of personal data and to maintain them in accordance with the provisions of the relevant regulatory framework, in accordance with the requirements set out in Law no. 9887, dated 10/03/2008 “On the protection of personal data” as amended and bylaws issued in its implementation.