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The presentation of the Minister for Trade and Industry is governed by the Law of 18 June 1998 on the State Guarantee Fund (444/1998) Pursuant to Articles 1 and 12:
The Board of the State Guarantee Fund shall be composed of a chairman and a maximum of six other members, as well as any personal alternate member, who shall be appointed by the Council for a term of three years.
The Executive Board and its chairman shall be appointed by the Ministry of Trade and Industry. The Executive Board shall elect one of the members as Vice-Chairperson. The Board of Directors shall be represented by the Ministry of Finance, the Ministry of Trade and Industry and the Treasury.
The Ministry of Trade and Industry shall appoint the Secretary-General of the Management Board and, where appropriate, the Secretariat, and shall confirm the fees payable to the President, the members and the Secretary-General and the Secretariat of the Management Board.
The Ministry of Trade and Industry confirms its Rules of Procedure on its proposal.
The Ministry of Trade and Industry can make the State's Special Financial Company Law (443/1998) Of the company (special financing company) On the organisation of the management of the liability commitments referred to in Article 11 (1) of the State Guarantee Fund Act.
The agreement referred to in paragraph 1 shall also lay down the criteria for determining the management fee referred to in Article 11 (2) of the Law on the Guarantee Fund.
In the performance of the contingent liabilities referred to in Article 11 (1) of the Law on the Guarantee Fund, the special financing company, acting as agent on behalf of the State, shall be liable to the courts and the administrative authorities. In all cases of such liability, the company shall also supervise the interests and the law of the State.
The Executive Board shall:
(1) decide on the payment of a fee to the special financial company as referred to in Article 5 (1) of the Law on the Guarantee Fund;
(2) submit a proposal to a special financial company for the payment of the fund reimbursement referred to in Article 5 (2) of the Law on the Guarantee Fund to the State Guarantee Fund;
(3) decide on the granting of a loan under Article 6 of the Law on the Guarantee Fund to the special financial company;
(4) to monitor that the amount of the central bank account in the central accounts of the State Guarantee Fund remains sufficient to pay for the funds and loans referred to in paragraphs 1 and 3. The Executive Board shall submit a proposal to the Ministry of Trade and Industry that it shall take the necessary measures if the amount of funds allocated to the Fund is insufficient to cover the expenditure of the Fund;
(5) to decide on the payment of the management fee referred to in Article 11 (2) of the Law on the Guarantee Fund to the special financial company; and
6) prepare a draft budget for the Ministry of Trade and Industry for the Ministry of Trade and Industry.
The Executive Board shall also monitor the economic situation and the development of the special financial company. The Executive Board may issue opinions to the Ministry of Trade and Industry or to the special financing company.
The Executive Secretary of the Executive Board shall:
(1) prepare and present to the Executive Board the matters referred to in Article 3, implement the decisions of the Executive Board and carry out any other tasks assigned to the Secretary-General in the Rules of Procedure;
(2) to decide on the execution of the funds referred to in Article 6 of the Law on the Guarantee Fund for a special financial company, as specified in the Rules of Procedure; and
(3) to monitor the economic development of the company referred to in Article 4 of the Law on the financial situation of the special financial company and Article 4 of the Law on the Guarantee Fund, and to report to the Management Board. In particular, the Secretary-General shall ensure that the activities of the Fund and the management of the funds are properly organised.
The liability of the Secretary-General is in force as regards the liability of the rapporteur in the law. The Management Board may delegate the tasks of the Secretary-General to the chairman, member or secretariat of the Management Board, as laid down in the Rules of Procedure of the Executive Board.
The Executive Board shall have a quorum when, in addition to the chairman of the meeting, at least half of the other members are present.
The aesthetic of the members of the Executive Board and the Secretary-General shall be as follows: (998/1982) Provides.
The Executive Board shall meet at the invitation of the Secretary-General, or at the invitation of the Chairperson or, in the event of a Vice-Chair, or if at least half of the other members so require.
The Executive Board's decision will be the majority opinion. In the event of a split vote, the opinion, supported by the President, shall be exactly the decision.
The Management Board shall consult the specialised financial company before the Executive Board decides on the subject referred to in Article 3 (1) (1) to (4).
In the present case, the Administrative Board may consult experts and obtain expert opinions.
Within six months of the end of the calendar year, the Executive Board shall submit a report on its activities to the Ministry of Trade and Industry.
Unless otherwise provided for in this Regulation, the provisions of the State Committees shall apply to the Executive Board.
This Regulation shall enter into force on 1 January 1999.
Before the entry into force of the Regulation, measures may be taken to implement it.
