Decree on Sports and Physical Fitness Fund
关于体育-体能运动基金的法令
ດຳລັດ ວ່າດ້ວຍກອງທຶນກິລາ-ກາຍຍະກຳ
Summary
This Decree stipulates principles and regulations for the management, use, and monitoring of the Sports and Physical Fitness Fund, aiming to raise and accumulate sufficient funds to promote a quality, advanced, and modern sports and physical fitness development.
Articles
Article 1
Purpose. This Decree stipulates the principles and regulations for the management, utilization, and monitoring of the Sports and Physical Education Fund, aiming to mobilize and accumulate sufficient funds for the development of a quality, advanced, and modern sports and physical education sector, contributing to national human resources and socio-economic development.
Article 2
Sports and Gymnastics Fund. The Sports and Gymnastics Fund, abbreviated in Lao as "ກທກ" and written in English as "Sports and Gymnastics Fund", is a fund established by the State, aimed at mobilizing and accumulating funds from various sources to ensure sufficient and sustainable financial resources are invested in the development of sports and gymnastics activities, with efficiency and effectiveness.
Article 3
Definition of Terms. The terms used in this Decree shall have the following meanings: 1. Event hosting revenue refers to income derived from hosting national and international sports competitions of various types within the country; 2. Sale of sports and physical education-related copyrights refers to granting rights related to the conduct of sports and physical education activities to individuals, legal entities, and organizations, and stipulating the benefits arising from such grant; 3. Professional athlete refers to a person who engages in sports as a profession; 4. National team athlete refers to an athlete appointed by the Minister of Education and Sports to participate in sports and physical education activities domestically and internationally.
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