1) develop the strategy of the development for the Property Fund, supervise the activities and the organisation of the management of the Property Fund;

2) decide upon the structure of the Property Fund, appoint and dismiss its chief financial officer (the accountant) and, upon the approval of the Prime Minister, appoint and dismiss chief of the administration of the Property Fund;

3) approve the regulations for the participation of the Fund in the management of the enterprises controlled by the state;

4) approve the expenditure estimate of the Property Fund;

5) control the use of the financial resources of the Property Fund;

6) approve the half-yearly and annual reports of the activities of the Property Fund and announce them in the “Valstybės žinios”;

7) adopt decisions on the establishment of subsidiaries (branches) of the Property Fund in Lithuanian towns (regions);

8) perform other functions prescribed by the Government and the statutes of the Property Fund.

Law on the State Property Fund