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ent shall be reported to the examination and approval authority for verification and approval. Article 24 The principal of a privatelyrun school shall be in charge of education, teaching and administration of the school, and exercise the following functions and powers: (1) to carry out the decisions made by the executive council, board of directors or any other form of decisionmaking body。 (2) to put into execution the development plans, draw up the annual work plans and financial budgets, and formulate the rules and regulations of the school。 (3) to appoint and dismiss staff members of the school, and give rewards and impose punishments。 (4) to make arrangements for education, teaching and scientific research, and ensure the quality of education and teaching。 (5) to be responsible for the daily work of school administration。 and (6) other powers delegated by the executive council, the board of directors or any other form of decisionmaking body of the school. Article 25 A privatelyrun school may, on the basis of their classifications, the length of schooling and their academic performance and in accordance with the relevant regulations of the State, issue academic credentials, certificates for pleting a course or qualification certificates of training to the students it enrolled. Students who receive training in vocational skills may be awarded vocational qualification certificates of the State when they are considered qualified by the vocational skills appraisal authority approved by the State. Article 26 A privatelyrun school shall, in accordance with law, ensure that the teachers and staff members participate in democratic management and supervision through the representative assembly of the teachers and staff members with the teachers as the main body, or through other forms. Teachers and staff members of a privatelyrun school shall, in accordance with the Trade Union Law, have the right to form trade union organizations to protect their lawful rights and interests. Chapter IV Teachers and Educatees Article 27 Teachers and educatees of privatelyrun schools shall enjoy equal legal status as the teachers and educatees of governmentrun schools shall. Article 28 Teachers appointed by privatelyrun schools shall possess the qualifications for teaching specified by the State. Article 29 Privatelyrun schools shall conduct ideological and moral education and professional training among teachers. Article 30 Privatelyrun schools shall guarantee the wages and welfare benefits for teachers and staff members according to law, and pay social insurance premiums for them. Article 31 The teachers and staff members of privatelyrun schools shall, in accordance with law, share equal rights with those of governmentrun schools in respect of professional training, appointment of posts, calculation of the length of service as a teacher or staff member, mendation and reward, and social activities. Article 32 Privatelyrun schools shall, in accordance with law, safeguard the lawful rights and interests of educatees. Privatelyrun schools shall, in accordance with the regulations of the State, establish the system for administration of students39。 records and give rewards and sanctions to educatees. Article 33 Educatees of privatelyrun schools shall enjoy equal rights as those of governmentrun schools of the same grade and category in respect of admission into schools of a higher grade, employment, preferential treatment and being elected as advanced students. Chapter V School Assets and Financial Management Article 34 Privatelyrun schools shall, in accordance with law, establish financial and accounting systems and assets management system, and keep account books in accordance with the relevant regulations of the State. Article 35 Privatelyrun schools shall enjoy property rights of the legal persons in respect of the assets provided by sponsors to privatelyrun schools, Stateowned assets, donated property and school accumulation. Article 36 During the period of existence of privatelyrun schools, all the assets shall, in accordance with law, be managed and used by the schools, and no organization or individual may take illegal possession of them. No organization or individuals may, in violation of laws or regulations, collect any fees from privatelyrun institutions of education. Article 37 The items and rates of fees to be collected by privatelyrun schools from educatees who receive education from academic credentials shall be worked out by the schools, submitted to relevant departments for approval and made public。 and the items and rates of fees to be collected from other educatees shall be worked out by the schools concerned, submitted to relevant departments for the record and made public. The fees collected by privatelyrun schools shall be used mainly for educational and teaching activities and the improvement of schools conditions. Article 38 The use and the financial management of the assets for privatelyrun schools shall be subject to supervision by the examination and approval authority and relevant departments. Privatelyrun schools shall prepare their financial and accounting statements towards the end of each fiscal year, entrust public accounting firms to audit the statements according to law, and publish the audit results. Chapter VI Administration and Supervision Article 39 Administrative Departments for education and the relevant departments shall provide guidance to privatelyrun schools in respect of education and teaching and training among teachers. Article 40 Administrative departments for education and the relevant departments shall, in accordance with law, exercise super