The Law Of Finnish National Fund

Original Language Title: Laki Suomen itsenäisyyden juhlarahastosta

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Read the untranslated law here: http://www.finlex.fi/fi/laki/ajantasa/1990/19900717

In accordance with the decision of Parliament: Chapter 1 General provisions article 1 of the decision of the Parliament set up by the Bank of Finland, the Finnish national ownership and management of the Fund, to which the rules of the financial regulation of 21 December 1967 on the regulation of the Council of State decision published in the collection (596/67), this law is amended as follows: the Finnish National Fund for research to fund, which will hereinafter be referred to as the Fund.
The Fund is a Fund need to be Speaker of Parliament. It makes use of its activities referred to as Sitra. (23 December 1999/1252)
The Council of the Fund to the Ministry of Finance of the State belongs to.

§ 2 the aim of the Fund is to promote a stable and balanced development of Finland, a quantitative and qualitative improvement of the economy, growth and international competitiveness and cooperation, especially by the implementation of the projects, which will affect the national economy in the use of resources for research and training activities, the level of the more efficient or kohottavasti, or to sort it out in the future development options.

in order to implement article 3 of the Goals the Fund may provide up to 100:1) make and arrange for the undertaking of studies and reports;
2) provides loans and other financing, repayment of which may be prescribed subject to conditions;
3) award grants;
4) provides guarantees and warranties; as well as 5) to participate in cooperation projects, as well as owning the shares and shares in the companies.
Chapter 2 section 4 of the original own funds, the Fund has a Budget which is to be positioned in a safe and productive manner.

section 5 of the financial operations of the Fund's activities shall be financed from the share capital and the proceeds from the.
Original own funds to cover the payment obligations of the Fund may be used only if the other assets of the Fund are not sufficient.
The Fund is allowed to take out loans for liquidity.

section 6 of the State income and expenditure for the financial year in the amount of the Monetary Fund's core capital accumulation may be taken. This appropriation may also include the financing of the activities referred to in paragraph 3.

Article 7 of the Fund may be owned by activities that are necessary for real estate, shares and shares.
Chapter 3, section 8, of the Management Board of the Fund by the Government and administered by the Management Board, the Secretary General.
The Administrative Council shall consist of the speaker of the Parliament set by the Bank of Finland. The Management Board shall be chaired by the Chairman of the Board of Governors of the Bank and the Deputy Vice-President of the Board of Governors of the Bank. The fees of the members of the Management Board of the Ministry of finance. (23 December 1999/1252), section 9, of the Management Board is responsible for the administration of the Fund and to decide. The Management Board shall, in particular: 1) be selected and be exempted from the Chairman of the Board, the Vice-President and the other members of the Board of Directors and Secretary General, as well as provide their bonus and salary advantages;
2 to strengthen the Fund's financial activity and investment) concerning the operation of the public;
3) lay down the Fund's annual action plan, as well as the rules of procedure of the economic and;
4) be set out yearly by an economic-and a plan of action for the next six years;
5), where necessary, by the presentation of the appropriation provided for in article 6, and to decide the meaning of section 5 of the original own funds;
6) to decide on the way in which the management of the Fund and the activities of the internal audit will be arranged.
7) to strengthen the Fund's income statement and balance sheet;
8) to decide on the discharge to the members of the Board of Directors and yliasiamiehelle;
an annual report on the activities of the Fund be given to 9) submitted to Parliament; as well as 10) to deal with other matters put forward by the Government.

section 10 of the Board of Directors consists of six members. The Ministry of finance, the Ministry of trade and industry and the Ministry of education will be represented on the Board. Secretary General is a member of the Board of Directors.

section 11 of the Government responsible for the management of the Fund's activities.
The Executive Committee shall meet at the invitation of the Chairman or Deputy Chairman. The Board of Directors has a quorum, the Chairman of the meeting and the two other members are present. Issues shall be decided by simple majority. In the event of a tie, the Chairman's vote.
The term of Office of the Board is two years.

Article 12 of the Yliasiamiehen are to carry out the administration of the Fund, as well as to develop the activities of the Fund, the Governing Council and, in accordance with the instructions and orders given by the Board.

Article 13 of the rules of procedure of the Fund is the provisions of the Government, which provides more precise and yliasiamiehen, as well as the powers and tasks of the Fund's staff.
Chapter 4 miscellaneous provisions article 14 of the accounts of the Fund shall apply mutatis mutandis in the accounting law (655/73).
The Fund's financial year is the calendar year.
KirjanpitoL 655/1973 KirjanpitoL:lla 1336/1997 is repealed.

section 15 (23 December 1999/1252) section 15 is repealed on 23 December 1999/1252 L:lla.

section 16 of the Fund's audit is performed annually by the end of the fiscal year following the March.
The Auditors will need to provide to the Board a written inspection report, which contains the statements of profit and loss account and balance sheet in respect of the adoption, on a proposal from the Fund on the discharge, as well as on the measures, and any qualifications thereto, the result of which may affect the determination of the profit and loss account and balance sheet in respect of the granting of discharge.

section 17 (21 May 1999/623) section 17 is repealed by L:lla on 21 May 1999/623.

section 18 section 18 (21.4.1995/647) is repealed by L:lla 21.4.1995/647.

section 19 of the Administrative Board and the Board's, yliasiamiehen, as well as the rest of the person's disqualification is valid, the Administrative Procedure Act (598/1982), section 10 (1) and (2) as well as article 11 provided for the official disqualification criteria and the impact of his comments.
HallintomenettelyL 598/1982 HallintoL:lla 434/2003 is repealed. See the official disqualification criteria HallintoL 434/2003 § 28. See the impact of his comments as HallintoL. the official 434/2003 article 27 and 30.

section 20 of the Fund may be a party to the Court of Justice and other authorities.

Article 21 of the Fund must not accept disputes concerning judicial settlements or the amounts secured by way of the financing arrangements, comparable to accept or guarantee only the amounts secured by way of a voluntary liquidation of assets, as well as to give up their claims. The Fund may also enter into agreements with the recipients of the Fund's receivables financing or guarantee reimbursement.

section 22 of the Fund other than in support of the provision of article 3 of the payments to be charged according to the law of the State in the basis of payment (980/73).
State maksuperusteL 980/1973 has been revoked in the State maksuperusteL:lla 150/1992.
Chapter 5-the date of entry into force and transitional provisions article 23 of this law shall enter into force on 1 January 1991 and it cancels the Finnish National Fund for the year 1967. The Finnish national final 1967 annual accounts for the financial year of the Fund's annual accounts and the annual report of the audit, shall be subject to the provisions and regulations, however, that applied to that Fund before the entry into force of this law.

section 24 of the original own funds of the Fund moves to the Finnish National Fund for the Bank of Finland of 1967, the last before the entry into force of this law the balance sheet as subscribed capital in the fiscal year ended.
The Finnish national final 1967 annual accounts for the financial year in accordance with the decision of the Fund's assets, as well as the Finnish National Fund for the year 1967, belong to the other claims on the date of entry into force of this law and the rights shall only be transferred to the Fund. The Fund is responsible for the Finnish National Fund for debts and other obligations of the year 1967.

section 25 of the Sitra, the 1967 date of entry into force of this law, the Fund's staff will move to the Fund.
Before the entry into force of this law may be to take measures for its implementation. Board of Directors ' proposal for the 6/90, Pankkivaliok. Mrs. 3/90, the great valiok. Mrs. 59/90 and the application of the date of entry into force of the amendment of legal acts: law of 21.4.1995/647: this shall enter into force on 1 September 1995.
THEY'RE 94/93, LaVM SuVM 10/22/94, 94/6:21 May 1999 THEY 30/1998, 31/1998, HaVM EV 303/1998 to 23 December 1999/1252: this law shall enter into force on 1 March 2000.
THEY are 148/1999, the PeVM 7/1999, EV 103/1999