The Regional Development Fund is managed by the Board of Directors and the Regional Governor, as chairman of the Board of Directors. The Board of Directors shall be constituted by decision of the Regional Governor for a five-year term and shall decide on any matter related to the responsibilities of the Fund, except for matters falling within the competence of the chairman.
The Board of Directors consists of:
Τhe Regional Governor as President,
Α member of the Executive Committee of the Region,
Α member of the Economic Committee of the Region,
Α representative of the first runner-up combination nominated by him,
Τwo representatives from the employers’ organizations and the relevant Chambers,
Α representative from labor unions,
Τwo Heads of Service of the Region designated by the Regional Governor, preferably by the Directorate concerned.
The Board of Directors manages the affairs and interests of the Fund and manages it. It decides on any matter relating to the responsibilities of the Fund, except for matters falling within the competence of the chairman.
The Chairman of the RDF:
Represents the Fund in the courts and in any public authority and gives vows to the fund.
Executes the decisions of the board of directors.
- He is the head of the staff of the Fund, decides on the appointment of any kind of service changes and the exercise of disciplinary control in accordance with the relevant regulation and issues the relevant acts.
- Orders the collection of the Fund’s proceeds and issues the money orders for payment at the expense of budget appropriations.
- Signs the contracts entered into by the Fund.
- Exercises the responsibilities conferred by law or other provisions, by the Regulation and by decisions of the Board of Directors.
The reginal governor as the President of the Regional Development Fund, when he is absent or disabled, is replaced by the vice-president.