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The Law On Foundations (Foundation Law)

Original Language Title: Lov om stiftelser (stiftelsesloven)

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Law of the Stations of the Stations Act (the foundation).

Date LOL-2001--06-15 -59
Ministry of The proximity and the fisheries Department
Last modified LO-2015 -03-13-12 from 01.07.2015, LAW-2015 -06-19-65 from 01.10.2015
Published In 2001 booklet 7
Istrontrecation 01.01.2005, 29.04.2005, 29.12.2005
Changing LO-1980-19-05-23-11
Announcement
Card title Foundation of the Foundation stal.

Capital overview :

Jf. former NL 2-19, Regulation 6 Feb 1694, rescripts 30 June 1770, 21 apr 1774, rescripts 3 nov 1776, 18 sep 1776, 16 apr 1783, poster 10 apr 1795, Regulation 12 sep 1806, law 21 feb 1930 Section 78 and law 23 May 1980 # 11.

Chapter 1. Initial provisions

SECTION 1. Scope

This law applies to stadities, when nothing else is set in or in co-law, a foundation can be an ordinary foundation or a nutritional foundation, jf. SECTION 4.

The rules of chapter 6 about the transformation of stifling also apply to those conditions that Section 55 mentions.

The king can give regulation on the law of law enforcement on Svalbard and can determine the shonest rules under consideration of the site's conditions.

SECTION 2. Definition

With foundation understood a formational value that at testament, gift or other legal disposition independently is lined up for a specific purpose of ideal, humanitarian, cultural, social, educational, economically or other species. A court formation that meets the terms of the first period is a foundation after this law, regardless of whether it is beta-suited as legless, institution, fund or other.

SECTION 3. Advice of the formation of the formality

Once the foundation has been created, jf. Section 2, the top translator has no longer available over the formaesvalue transmitted to the foundation.

SECTION 4. Almemorial staining and nutritional staining

A foundation can be an average foundation or a nutritional foundation.

With the nutritional stadities, in this law, the

a) Stations that have for purpose to drive nutritional business themselves,
b) Stations that run the business of business themselves,
c) Stations such as due to deal, or as an owner of stocks or company shares, have grandstanding influence over nutritional business outside the foundation.

At the assessment of whether one has to do with a nutritional foundation after other clause of the letter c, a foundation is always considered to have grandstanding influence over nutritional business outside the foundation when :

a) The foundation owns so many stocks or shares of a company that operates business, that the stock or shares represent the majority of the votes in the company, or
b) The foundation has the right to choose or will place a majority of the board members of a company that operates nutrition.

Almemorial stadities are staunties that are not nutritional.

The foundation's vision determines in doubt whether a foundation is a nutritional foundation or an ordinary foundation.

SECTION 5. Nearby

As someone's close-up means in this law :

a) spouse and a person who they are living with in marital-like relationships,
b) relatives in straight up or down-ascending line and siblings,
c) relatives in the right up-or down-ascending line and siblings of a person mentioned in the letter a,
d) spouse to, and a person who lives together in marriage-like relationships with, some who are mentioned in letter b,
e) company where the person itself or someone mentioned in the letter a to d, separately or until together has such grandstanding influence as mentioned in Section 4 third clause.
SECTION 6. Exceptions from the scope of the law

The law does not apply :

a) churches and burial grounds and values of the otherwise that sotted or a faith community owns,
b) pension funds and pension funds that are under the Financial Commission's supervision, jf. Law 7. December 1956 # 1 about the Department of Financial institutions mv. (financial vision law) Section 1 first clause 14,
c) savings banks.
0 Modified by laws 19 June 2009 # 48 (ikr. 21 des 2009 ifg res. 18 des 2009 # 1603), 26 aug 2011 No. 40 (ikr. 1 jan 2012 ifg. res. 26 aug 2011 # 866).
SECTION 7. Foundation vision

The foundation vision leads supervision of stilcharges. The foundation of the Foundation's tasks is :

a) to bring a staple registry in which all of the foundation is to be registered, jf. SECTION 8,
b) to conduct supervision and control with the management of the staple of the foundation in accordance with the foundation of the foundation and this law,
c) to hit the ordinance with home in this law.

The foundation, its peer-selected and employee and foundation's auditor has the duty to provide the Foundation's vision for information and other assistance that is necessary for the Stifle vision to be able to conduct its tasks by law. Rev. Rev. : Rev. : Rev. : Rev. : Rev. : Rev. : Rev.

The king can give regulation on the Foundation of the Foundation's organization and business and about enrolries of stilts. The fee can be required for the registration of the foundation of the Foundation of the Foundation, and the staple can be illegation an annual fee. The king can give regulation on when fees and tax shall be required, about the size and about the crewing of these.

The fees and taxes are compulfed on the issue of expenditure.

0 Changed by laws 17 des 2004 # 93 (ikr. 1 jan 2005), 11 jan 2013 No. 1 3 (ikr. 1 June 2013 ifg. res. 24 May 2013 # 533), 13 des 2013 No. 1 119.
Section 7 a. Foundation of the Foundation

The Foundation Board of the Foundation determines complaints of single-ordinance authored by the Foundation's vision in co-founder of the foundation of the foundation, the decree law, hernilova and same-colova, unless otherwise follows by special law determination. The Ministry does not have the instruction or reunification directly opposite the Foundation of the Foundation of the Foundation in single cases.

The Ministry of the Ministry of the Foundation is the foundation of the Foundation and the Foundation of the Foundation's decisions on the parentvisibility Act, as well as decisions in cases after public law law.

The Foundation of the Foundation shall have a leader and two members, all with personal upmentioned commodity members. The members are appointed by the King for a period of up to four years. Revition can be done. The Foundation of the Foundation shall have a secretariat that is conducting case preparation.

The Foundation of the Foundation can only hit the ordinance when all the members are present. Decisions meet with the average majority.

The Foundation Board of the Foundation is the cleritable Authority of the Foundation's decisions on case costs after the Management Act Section 36. Nemnda's decisions on case costs cannot be incurred.

The Ministry can provide regulation with further regulations on the Foundation of the Foundation of the Foundation of the Foundation, organizing and work and about the Board's secretariat. The Ministry of Justice can provide further transition rules for the Board of the Board of complaints of the complaint before the solvent of the solvent takes effect. The Foundation Board of the Foundation is funded through the annual tax foundation pays by regulation given in co-7 third joints.

0 Added by law 13 March 2015 # 12 (ikr. 1 July 2015 ifg. res. 19 June 2015 # 679).
SECTION 8. Foundation Registry

All of the stilcharges shall be registered in a central register that is taken by the Foundation of the Foundation (Stif-Registry). The Foundation Registry shall contain the following information, which is to be reported at the creation of the foundation, jf. SECTION 11 :

a) the date of the creation of the foundation and the creator's name ;
b) the foundation's address ;
c) who are members of the foundation's rule and who are the chairman of the board, and in case of who are varammembers and observers to the Board ;
d) who is the general manager, if the foundation has it ;
e) who is an auditor, and the Auditor's business address and accounting number ;
f) who is the accountant, if the foundation has it (jf. law 18. June 1993 # 109 about the authority of accounting drivers), and the fiscal driver's address and registration number ;
g) The foundation's ordinance.

For board member, varammember, observer and general manager, the registry should also include the details of the birth number and address. Is a different foundation board, jf. Section 21 other clause other period, shall the foundation's name and organization number be registered.

Hearing a foundation, this is supposed to be reported to the Foundation Registry, and the foundation is to be deleted. The message is to be given without due stay. The same applies if it is for the otherwise changes to the circumstances of which are recorded, or it enters new conditions that the foundation has duty to report the first clause. Change of address for others than the foundation is still not duty to report.

The first time a foundation is reported to the Foundation of the Foundation should documents as mentioned in Section 12 ordinance the message. At change messages, documents mentioned in Section 12 first clause letter b, c and d attach the message, if the change message applies to such conditions.

Message after first to third clause can be sent electronically, so far this is not in violation of the requirements of Section 12.

The following provisions of the Business Registry Act shall apply accordingly to the Foundation Registry : Section 4-2, 4-3, 4-5 to 4-7, Chapter 5, Section 6-1, 7-1, Chapter 8 and Section 10-1, 10-3 and 10-5. The Foundation's vision can provide regulation that the Foundation's vision of its own measures can capture changes to the Stifle registry, and about the consequences of such changes in relation to other registries.

Chapter 2. Creation of the Stations

SECTION 9. Foundation document

The person to create a foundation shall devise a staple document for the foundation, which at least should indicate :

a) foundation's purpose,
b) what assets should be used as a base capital, jf. SECTION 15,
c) The board of directors, if not the joint statement of the foundation's first rule of regulation as mentioned in Section 10 first clause letter c,
d) any particular rights to be given the creator or others in connection with the creation of the foundation.

The Stiftation document should also include the foundation's ordinance, jf. SECTION 10.

The Foundation document is to be datered and underwritten by the creator.

If a foundation has been created without the creator of a staple document that fills the terms of the first clause, the Board shall devise the staple document, optionally suppers the staple document with the details that are missing.

SECTION 10. Vedder

A foundation shall have ordinance that at least should indicate :

a) the foundation's name,
b) foundation's purpose,
c) the number or lowest and highest number of board members and how the Board is to be selected,
d) if the foundation is to have other organs than the Board, what organs this is, how the organises of the organises should be chosen, and what authority and what tasks these should have (jf. SECTION 36),
e) The foundation's size (jf. Section 14 first joints and Section 22).

The betting companies for a nutritional foundation should also indicate the foundation's venture name, jf. The enterprise name Act Section 2-2 eighth clause.

In the case of the judicial disposition that forms the foundation of the foundation, is not determined ordinance that fills the requirements in the first and second clause, the foundation's Board shall draft the draft regulations or make necessary changes to the ordinance. The board should also change the surrender of the ordinance of the founding of the founding of the capital, if the ordinance determination otherwise would not be unification with Section 15 other clauses.

0 Modified by laws 5 sep 2003 # 91 (ikr. 1 March 2004 ifg. res. 5 sep 2003 # 1118), 15 des 2006 # 88 (ikr. 1 jan 2007 ifg res. 15 des 2006 # 1432).
SECTION 11. Message to the Foundation Registry

Within three months after the Foundation has been created after Section 2, the Board shall report the Foundation to the Foundation's Board of the Foundation for Registration in the Foundation Registry. The message shall contain information as mentioned in Section 8 first clause.

The foundation cannot be registered without the design of a staple document in accordance with Section 9 first and other clauses, jf. Section 10, and without the entire basis of the capital self-employed are at the disposal of the foundation.

SECTION 12. Exhibit to message after Section 11

As attachments to the message after Section 11 should follow :

a) confirmed copy of the staple document,
b) statement from auditor and board member that he or she receives the election,
c) statement from the auditor that the entire foundation of the capital is lined with the foundation's disposal, jf. Section 11 other joints,
d) if the founding capital consists of other assets than money, statement from the auditor that the belongings have a value that at least answer to the amount of the amount of capital is determined in the ordinance, jf. Section 15 different joints.

As an attachment to the message, it should also follow an opening balance of the foundation. The opening balance should be set up in accordance with the accounting regulations. The Accountant shall make the statement that the balance has been worked out in accordance with these rules. The opening balance of the Auditor's statement shall the earliest be dated four weeks prior to the message of the Stiftion Register after Section 11.

Appendix as mentioned in the first clause letter b to d as well as other clauses can be sent electronically. The Foundation Registry may at regulation determine that such electronic attachments should satisfy specific technical requirements, hernicity about the auditors of electronic signature.

If the Board has made changes to the staple document after Section 9 fourth clause or in the ordinance after Section 10 third clause, it shall as attachments to the message, besides a confirmed copy of the original staple document or the original the ordinance.

SECTION 13. Message to the FortaksRegistry of the nutritional Stations

Proximity to the Forecasting Registry shall be reported to the Research Register with the information that follows by the enterprise registry law Section 3-6 and 3-7. Is it at the creation of the pure that the foundation shall drive nutrition, the Foundation shall be reported to the Foretake Registry at the same time that the Foundation is reported for registration in the Foundation Registry after Section 11. Will the foundation be nutritional at a later time, the foundation shall be reported to the Foretake Register without due stay, in case of attachments as mentioned in Section 23 other periods.

Chapter 3. Capital

I. Almemorial rules
SECTION 14. Foundation

Stiftions should at the creation have a founding capital of at least 100,000 crowns. The foundation vision can make exceptions from the first period.

If the founding capital does not fill the arbitrary year in the first clause, no foundation has been created. Is the person who had the intention to create the Foundation's death, the Foundation's vision is to hit the ordinance of who is going to take over the formalvalues that were to be made as the founding capital of the foundation. Section 49 other period applies to the equivalent. The betting shall take into account what best is in compliance with the purpose the foundation was meant to have, and conditions like that otherwise have to be assumed that the creator has significantly emphasis on. If it out from the purposes mentioned in the fourth period, it is not possible to find out to an appropriate recipient of the formalvalues, they will be transferred to the successor's heirs, if not more affordable that they go to an aging human purpose. Reises it's case for the courts of ordinance after this determination, the court could try all sides of the issue.

SECTION 15. Basic capital in other assets than money

Eienparts that cannot balance be passed by the fiscal law cannot be used as a founding capital. An obligation to carry out a work or service for the foundation cannot in any case be used as a founding capital.

Eienparts to be used as the base capital cannot be set to higher value than the actual value of the day of the opening balance.

SECTION 16. Prevention of the founding capital

Decision about the high ground capital is met by the Board. The board of directors cannot hit such decision if the increase will be in violation of the foundation's purpose, the ordinance, or the aftermath of the Act, otherwise.

The basic capital can be elevated by that :

a) other equity transfer to the founding capital,
b) belongings that the foundation is being attributed to the creation of the testament, gift or other one-sided disposition, is added to the founding capital. This still does not apply if anything else is determined or clearly provided by the person who has transferred the belongings.

Capital raising shall be reported to the Foundation of the Foundation, and in the case of the Forester Register, within six weeks after the decision was hit. With message of capital raising after other clause letter b, it shall as attachments follow declarations as mentioned in Section 12 first clause letter c and d, jf Section 8 third clause second period. Is the capital increase not reported by the deadline, it falls away.

SECTION 17. Downsetting of the founding capital

Decision to downgrade the founding capital is met by the Board. The board cannot hit such decision if it follows by the ordinance or otherwise determined or clear provided by the creator that the original founding capital should not be able to be used for shares.

The decision shall indicate the amount of the capital to be unfolded with, and determine if the amount should be applied to

a) coverage of losses that cannot be covered in any way, or
b) transfer to other equity.

Decision to downgrade the founding capital is to be reported to the Foundation of the Foundation, and in the case of the Foresight registry, within six weeks after the decision was hit. The run-down chain is not reported by the deadline, it falls away.

Should the entire run-down amount be used for coverage of loss after other clause letter a, the capital run-up takes effect when the message after third clause is recorded. Should the run-up amount entirely or partially be used in accordance with other clause letter b, the creditors shall be notified before the capital run-up can three in effect. The stock Act Section 12-6 applies to the equivalent.

SECTION 18. Prevalence of the foundation's capital

The foundation's capital is to be managed in a defensible manner, so that it at any time taken adequate consideration to the safety and possibilities of achieving a satisfactory return to safeguard the foundation's purpose.

SECTION 19. Outsharing

The division of the foundation's funds passed by the Board. The shares shall be in accordance with the foundation's purposes.

It cannot be issued outshares to the top translator, to the harrowing presence after Section 5 letter a, or to the company where some of these separately or until together have such grandstanding influence as mentioned in Section 4 third clause. If there are fair reasons, the Stiftelovision vision can make exceptions from the first period.

Are there been issued shares from the Foundation in violation of the rules in the first or second clause or other provisions of the law, the recipient shall revert what has been received. The stock Act Section 3-7 first clause different period and other clause applies to the equivalent.

SECTION 20. Loans and security

The Rebellion, the caller's close, board member, observer, person with the positions of the organ mentioned in Section 36 and general manager can't have loans in the foundation. The same applies to safety measures for the benefit of these individuals.

The first clause is not to obstacle that the foundation is providing loans or asks security to benefit from an employee when

a) the employee is selected as the employee representative or observer of the Board of Direcs of Section 41 and 42, and
b) The accusation is employed in the main position of the Foundation, and
c) The loan or security stitworks in accordance with what is common at financial assistance to employees.

Has the foundation given loans or lined security in violation of the first and other clause, applies to the Emergency Act Section 8-11 equivalent.

SECTION 21. Separation-liked

The property of a foundation is to be kept separate from other belongings.

This does not apply to

a) assets that after the ordinance or the board's decision are managed by the county of the county after the vergemland Act Section 97, and
b) assets that the Stiftelvision vision has decided that can be managed with belongings from other stadities (co-management).

Are assets from several stadities laid under the joint management of a foundation, the Foundation's vision can end that the foundation that performs the joint administration shall be the staple of the foundation.

0 Modified by laws 21 des 2005 # 130, 26 March 2010 # 9 (ikr. 1 July 2013 ifg. res. 5 apr 2013 # 338) that changed by law 5 apr 2013 # 12.
II. Sary rules of nutritional stapled as mentioned in Section 4 other clause letter a and b
SECTION 22. Honest claims to the founding capital

Proximity stitching as mentioned in Section 4 different clause letter a and b, shall have a founding capital of at least 200,000 kroner. In such nutritional stitworks, the foundation is bound, jf. SECTION 24

SECTION 23. Requirement of the equity of the transition from ordinary foundation

An average foundation that goes over to become a nutritional foundation as mentioned in Section 4 other clause letter a and b, shall have an equity that at least responds to the established founding capital. With the message of the Forefare Registry (jf. Section 13) shall be as an attachment following a statement from the auditor that the Foundation has an equity that meets the requirement in the first period.

SECTION 24 Bound equity

In nutritional stitching as mentioned in Section 4 else clause the letters a and b, it can only be made outshares in the extent of the extent of the extent-determined balance exceeds the base capital size, as determined in the the ordinance. In the ordinance, it can be determined that also other capital should be bound in the manner indicated in the first period.

SECTION 25. Loss of the foundation's equity

If it must be assumed that equity in a foundation as mentioned in Section 4 different clause a and b is lower than justifiable from the risk of and the scope of the business within the foundation, the Board shall immediately process the case and notify the Stiftellvision. The board shall then within reasonable time give a statement to the Foundation's vision of the need for measures and about what measures that in the event will be committed. The Foundation's vision can impose the foundation to provide further underdirection about the completion of the measures. The first to third period applies to the equivalent if it must be assumed that the foundation's equity has become less than a third of the founding capital.

Chapter 4. Stiftelser's organization

In the board.
SECTION 26 Board

Any foundation is supposed to have a rule. In the foundation that has a base capital of three million crowns or more, the Board shall have at least three members.

The board is going to have a leader. The steering leader is selected by the Board, if nothing else is determined in the ordinance.

SECTION 27. The requirements of the board of directors

Legal people can't be board members, jf. Nevertheless, Section 21 other clauses laughed differently. The same applies to minors, people who are deprived of legal shopping and persons it has stepped up such obstruction as mentioned in the bankruptcy law Section 142.

At least the half of the board's members should be settled in the realm, nonetheless with the exception of state citizens of states that are party to the EES agreement when they are settled in such a state.

The following people cannot separately or together be the only members of the board of directors :

a) the one who has cast a formauesvalue that is part of the foundation of the foundation,
b) close-up of the person who has passed a formational value that is part of the foundation of the foundation,
c) person who has the peer of trust, or stands in an employment or underword relationship with the person who has passed a formational value that is part of the foundation,
d) if the person who has passed a formational value that is part of the foundation of the foundation, is a legal person, person who has such influence as mentioned in Section 4 third joints over the legal person, and his or her close-up.

Has the board of directors only two board members, can person as mentioned in the third clause, rather than be the chairman of the board.

The foundation vision can at single-pass exceptions make exceptions from the provisions of the other, third and fourth joints.

The law's rules on board members apply as far as they fit, also for commodity members and observers.

0 Modified by law 26 March 2010 # 9 (ikr. 1 July 2013 ifg. res. 5 apr 2013 # 338) that changed by law 5 apr 2013 # 12.
Section 27 a. Gender representation when the state, a county of the county, or municipality mentions members of the Board

Law 9. June 1978 No. 45 about gender equality between the sexes Section 21 first, second and fifth joints applies to the equivalent of when the state, a county of the county, or municipality mentions the entire board of directors of a foundation. When the state, a county council or municipality mentions parts of the board of directors of a foundation, applies to the first period here equivalent in relation to the board members this applies.

0 Added by law 19 des 2003 # 120.
SECTION 28. Board members service time

Board members service do for four years, if nothing else is determined in the foundation's ordinance. A board member shall remain standing in the enlisted until a new member has been selected, although the service time has expired.

If there is very particular reason, a board member has the right to three back before the service time is out. The board and the person who has chosen the board member shall be given reasonable advance notice.

The hearing enlisted for a board member before the expiration of the service time, and there is no commodity member, the rest of the board members shall ensure that a new board member for the rest of his or her service time. The election should happen after the rules that otherwise apply to the election of board members.

SECTION 29. The Foundation's authority to rename and put off board member

The Foundation's vision can be appointed board member of a foundation when it is without competent rule by law or the ordinance.

The Foundation's vision can be able to offset board member as significantly oversets their duties at the outset of the enlisted, which clearly shows unfit, or who do not fill the law's demands to be board member, jf. SECTION 27. Will the ordinance be brought in for the courts, they can try all sides of the matter.

SECTION 30. The Forces of the Forces and Responsibility

The board is the foundation's top organ.

The election of the foundation is hearing under the Board.

The board shall ensure that the foundation's purpose is being looked after, and that the outshares are conducted in accordance with the ordinance. The board shall see that accounting and formality management is the subject of reassuring control.

SECTION 31 Management's case management

The leader's leader shall provide the treatment of appropriate cases that belong under the Board. The board members and general manager may require the Board of DirecAffairs of Specific Affairs. Board meetings and other board management are notified in appropriate manner and with the required deadline.

The board is to treat cases in meeting, unless the board of directors finds that the case can be subject to parental written or treated in any other reassuring manner.

The leader's leader shall ensure that the board members as far as possible can participate in an overall treatment of cases processed without meeting. The board members and general manager can require meeting processing.

The steering treatment is led by the management leader. The share neither the chairman nor the varalder, selects the board of directors of the board of directors of the board. The general manager has the right and duty to participate in the management of affairs and to comment, if nothing else is determined by the Board of the individual case.

The protocol is to be taken over the steering treatment. The protocol shall at least indicate time and place, participants, the processing way and the management's decisions. Board member or general manager who does not agree on the board's decision may require his opinion instituted in the protocol. The protocol shall be underwritten by all the members who have participated in the steering treatment.

SECTION 32. Attachiness

The board can hit decision when more than half of the board members are present or participating in the driver's treatment, unless the ordinance is setting stricter claims, the board can still not hit decision without all of the members of the board as far as possible given the occasion to participate in the treatment of the case. Has a board member decay and there is varammember for him or her, the commodity member is supposed to be called.

SECTION 33. Multinumber requirements

A decision by the Board requires that the majority of the board members who participate in the treatment of a case have voted for. By voice resemblance, it applies as the meeting chair has voted for.

By choice or employment, it is considered the chosen or employee who gets the most votes. The board can in advance decide that it should be held new vote if no one gets the majority of the given votes. Says the voting number liked by choice of board leader or chair of the election, is decided by the loddle of the lottery. In other cases of voice resemblance, the meeting of the meeting has been voted for.

In the ordinance, it can be determined stricter voting rules than the following of this paragrafen and are given anomalous rules about the sequence of vocal resemblance.

II. Daily manager
SECTION 34. Daily manager

If nothing else is determined in the ordinance, the Board can hire a daily leader. Close-up stitching as mentioned in Section 4 else clause the letters a and b, which has a founding capital of three million crowns or more, shall have a daily leader. In such staunties, the general manager cannot be elected to the chairman of the board.

Section 27 first clause different period applies to the equivalent of the general manager.

SECTION 35. Daily leder's authority and liability

The general manager stands for the daily management of the foundation's business and should follow the guidelines and the injunction of the board has provided. The daily management does not include cases that after the foundation's relationship is of unusual species or great importance.

The general manager shall ensure that the foundation's accounting is in accordance with law and regulations, and that the formality management has been arranged in a reassuring manner.

LII. Other organs
SECTION 36. The betting regulations that the foundation should have other organs than control and general manager

In the ordinance, it can be determined that the foundation is supposed to have other organs than control and general manager.

The betting systems can determine that such organs should have the authority to :

a) choosing board members and to deseat board members when the terms of Section 29 other clauses are present. This still does not apply to the Board of the Board to be selected or selected by the employees ;
b) to determine the board member's allowance ;
c) to bring supervision of the foundation's business ;
d) to make a statement about the year-and-year history ;
e) to cease scrutiny ;
f) selecting the staple's auditor ;
g) to be rejoining the Foundation of the Foundation by proposals from the Board ;
h) to make a statement to the Board or other organ of the foundation.

The betting can also determine that the foundation should have a case preparatory, advisory or resolute organ that fully is subject to the management of the board and instruction authority.

Other authority than what follows by other clauses cannot be added to such organs.

The rules of Section 37 about inhability and Section 40 if allowance apply to the equivalent of member of the organ as mentioned in the paragrafen here.

TWELVE. Inhability, representation public, mv.
SECTION 37. Inhability

A board member or a general manager must not participate in the treatment or decision of questions that have such importance to him or her or for her or her close-up, that the person must be considered to have a prominent personal or economic particular interest in the case.

A board member or a general manager may also not participate in the case treatment or decision when he or she has position or trust in a private or public institution, organization or enterprise that has financially or other prominent particular interest in the case, or when he or she of such property has previously participated in the treatment of the case. The first period is yet to hinder that a board member or a general manager who has public position or office, is participating in the case processing or the decision of questions that in the matter apply to the use of funds that the Foundation has received at the disposal of the public.

SECTION 38. Representation the

The board of directors represents the foundation

The board can provide board members or general manager the right to represent the foundation of the foundation, alone or in communities, if not determined in the ordinance that the Board should not be able to allocate such a warrant. The board can at any time call back warrant after the first period.

The general manager represents the foundation of the foundation in matters that are part of the daily management.

SECTION 39. The violation of the representation right

Has anyone representing the Foundation for Section 38, at the disposal on behalf of the Foundation passed out over its authority, the outline is not binding on the foundation if the foundation allowance understood or should have understood that The authority was exceeded and it would fight integrity to make the disposition current.

SECTION 40. Allowance

Allowance to board member, general manager or other leading employee of a foundation shall stand in reasonable conditions for the work and responsibility that follows the enlisted or position. The foundation's vision can put down allowance that is unreasonable high.

Allowance that are agreed on or determined in violation of the first clause is invalid. Is the allowance supported, it shall be reintroduced the foundation.

V. Employee representation in nutritional stadities
SECTION 41. Employee's representation right on the board of directors

In nutritional stitching as mentioned in Section 4 else clause the letters a and b, the Emergency Law Act Section 6-4 first and other clause about employee's right to board presentation equivalent to barely applies to nutritional business.

In nutritional stitching as mentioned in Section 4 else clause the letters a and b, which has more than 200 employees, the employees shall select the number of board members, observers and commodity members following the apastoral Act Section 6-4 third joints for as wide as the business.

The provisions of Section 28 about the service's length do not apply to board member and observer selected by the rules in the first and other clause.

The king can in regulation or in individual cases determine which employees are associated with the business, and which cases apply to this one. The stock Act Section 6-4 fourth clause applies to the equivalent.

SECTION 42. Employee's representative rights in concert and groups of enterprises

For nutritional stitching as mentioned in Section 4 other clause c, the accuser Act Section 6-5 equivalent to barely applies to nutritional business. The king can in regulation or in individual cases determine which employees are associated with the business and which cases apply to this one.

Chapter 5. Accountant

SECTION 43. Elections of auditor mv.

Auditor is selected by it or the persons or organs that after the ordinance select or raise the board's members, if not determined otherwise in the ordinance.

The Foundation's vision can revoke an auditor mission if he or she does not pursue his duties after the law, and the person who has the authority to select the auditor after the first clause, fails to do this. The Foundation's vision can also be appointed auditor, if the person who has the authority to select auditor after the first clause, fails to select auditor, or select an auditor that does not fill the terms of the Foundation. The foundation's uplift is applicable to the time until another auditor is selected in prescribed manner.

If one or more municipalities or county lawmakers have the right to select or raise a majority on the board, the municipality and county audit can be selected as the staple's auditor. The same applies to where the foundation's business to significantly is based on the addition of grant or appropriation from the municipality or county of the county of the county. By the way, the rules apply in this paragraph.

0 Modified by law 7 May 2004 # 21 (ikr. 1 jan 2005).
SECTION 44. Resiors duties

The Foundation's vision can require the auditor to do closer to account for specific specified conditions within the foundation. Copy of Auditor's letter of pointed out as mentioned in the Auditor Act Section 5-2 fourth clause shall be continuously directed to the Stiftellvision.

In the audit of the audit, the auditor shall pronounce whether the foundation is the stewards and whether the outshares are made in accordance with law, the foundation's purpose and the ordinance of the

If board members or employees of the Foundation, create, or close to some of these, have received loans or other performance from the Foundation, auditor will be attested that performance is in compliance with law, regulations and the foundation's purposes.

0 Modified by law 15 des 2006 # 88 (ikr. 1 jan 2007 ifg res. 15 des 2006 # 1432).

Chapter 6. Transform

SECTION 45. Transform

With the transformation of the law here change or reportion of the judicial disposition that forms the foundation of the foundation, or of the foundation of the foundation.

In addition to change or reportion of individual provisions of the judicial disposition that forms the foundation of the foundation, or in the foundation of the foundation, can transform among other things go out on :

a) that the foundation is repeables and devicles,
b) that the foundation is merged with one or more other staunties with in the essential equilibrium purpose,
c) that the foundation is shared in several stadities,
d) that the ribbon-laid property belonging to the foundation is released,
e) that it is made exceptions from the statutes in the single case.

The rules of reeducation in this chapter do not apply to

a) raising and run-down of ground capital,
b) ordinance change necessary to bring the ordinance in accordance with the requirements that apply to nutritional stitworks.

Attachment changes as mentioned in this clause can be passed by the Board.

The rules of this chapter cannot be waived in the judicial disposition that forms the foundation of the foundation, in the ordinance or of the added reformation authority.

SECTION 46. Terms of Education

Transform can be made when a provision in the ordinance or the judicial disposition that forms the foundation of the foundation

a) does not allow to live, for example because the foundation's capital is insufficient to add its purpose in a timely manner,
b) is clearly useless,
c) is in violation of the purpose of the disposition that forms the foundation of the foundation, for example because the opting of the determination of the determination has failed, or
d) is obviously unfortunate or obviously insensible.

If the determination does not apply to the purpose of the foundation, and otherwise it must be assumed that at the creation has not been put significantly emphasis on it, transform can occur when the determination turns out to be unfortunate or unexpedient.

SECTION 47. The content of the reformation bill

When the reformation applies to the foundation's purpose or any other provision that it must be assumed that it was placed significantly emphasis on the creation of the foundation, the reformation shall be as far as possible to be adapted to the original purpose or the aim of the Sikv. must be assumed that lay ground for the determination.

The intangible reformation that the foundation is repeals after Section 52, the capital is left after its creditors are covered after the mentioned determination, is used in a way that corresponds to the foundation's purpose or a related purpose. If this is not possible, the capital of the site shall go to a general public purpose.

SECTION 48. Who can do transform

The Foundation's vision can be transformed by the rules of this chapter.

In the ordinance, others other than the Stiftelle vision can be given the authority to transform the foundation. The creator of a foundation can still not be given such authority. Attaches to reform a foundation that has been hit after the ordinance provision as mentioned in the first period is not valid until approved by the Foundation's vision for Section 51.

The foundation vision can at individual ordinance or in regulation determine who is to be considered creator of other periods, when the foundation has been created by a public authority.

SECTION 49. Case processing on reeducation

Prior to the Stiftelle vision or the one that in the case has been given the reformation authority by the ordinance, the ordinance is to be obtained in the statement from the creator, if not the creator itself that has applied for reeducation. If the creator is dead, it shall if possible obtained the statement from relatives and others who have stood him or her close, and from organizations, public authorities and others who are being enriched by the reformation. It is also to be obtained from the Board, if not that is the Board of Directable, which is to hit the ordinance, or it is the Board of Directable which has filed for transform.

SECTION 50. The foundation of the Foundation's transformation authority

The Foundation's vision can only make transformation after application from the creator or the Board. The Foundation's vision can still make the transformation of its own action, if obvious circumstances as mentioned in Section 46 first joints, and the creator or the foundation's rule not even apply for reeducation.

SECTION 51. Foundation of the Foundation's trial of reformation

When the Stiftelle vision has been notified of the reformation of the reformation, jf. Section 48 other clause third period, it should try whether the ordinance is in accordance with this law and the foundation's ordinance before the ordinance register in the Foundation registration. If the Stiftelle vision finds that the reformation bill is not in compliance with this law or the ordinance, the ordinance shall be denied recorded.

SECTION 52. The swelling of the foundation

When it is met with the decision to repel a foundation, and the ordinance in the case has been approved after Section 51, the Foundation vision will select an deviation rule for the foundation, which will take place on the board and in case of general manager.

The foundation of the Foundation is to announce the ordinance of the reptisation of the Foundation in the Bay of the Bay of the Bay of the Bay of the Bay of the Bay of the Bay of the Bay of the Bay of In the announcement, the foundation's creditors will be notified that they must report their claims to the deviation of the asset management board within six weeks from the announcement. The name and address of the deviation of the asset management shall advance the announcement. All creditors with known address should barely have any special notice.

The Board of Directing Board shall create a roster of the foundation's belongings, rights and obligations and make up a balance of envision on the deviation of the foundation. The balance and balance should be revised to the revised stand of the Stiftelle vision.

The foundation's belongings are to be resettled in money as far as it is necessary to cover its obligations. The discrepancy board shall ensure that the obligations are covered in the extent that the creditor does not waive its claim or consent to take another as debit or instead. Can a creditor not be found, or denies he or she to receive his tigodeOD, the amount shall be deposited in Norway's Bank by the rules of law 17. February 1939 # 2 about deposit in the debt-hole. What is left of assets after its creditors are covered after second and third period, shall be distributed to purposes as mentioned in Section 47 different joints, but at the ceremony it shall be taken to the extent that the asset or amount can be required back in that span this is necessary to cover creditors that are not covered after another and third period.

Following the end payout, the settlement settlement has been revised for the Foundation's approval, which shall approve the settlement and register that the foundation has been repeaited. The face of the creditor who has not received coverage after the fourth clause, booklets the deviation of the board members solidarity without limitation, if it does not make amends that they have performed with intentional tactics. Claims against the one who received assets after the fourth clause last period, and claims against the deviation of the organization's members aged three years after it was registered that the foundation was repealing.

0 Modified by laws 5 sep 2003 # 92 (ikr. 1 jan 2004 ifg. res. 5 sep 2003 # 1119), 15 June 2007 # 36, 14 June 2013 # 41 (ikr. 1 July 2013 ifg. res. 14 June 2013 # 638).
SECTION 53. Concatenation of two or more staining

An Act of Education can go out on that two or more staple charges combine to a new foundation, or that one or more staple charges overdrag their assets, rights and obligations as a whole to a different foundation (merge).

The foundation of the Foundation may require that the boards of each of the staunties to combine, will devise a written report on the merger and what it will mean for the foundation. The report shall account for the significance of the merger can get for the foundation's creditors and the employees of the Foundation. The foundation's vision can also require the most recent annual accounting, year-end, and audit account for the stilorials. Moreover, it is required that the outperformed balance of the staple balances, which should be worked out and revised by the rules of year accounting. Have the Foundation employees, the employees shall be given the opportunity to comment on the merger, and written statements from the employees or representative of the employees shall be sent the Stiftelvision vision.

When the Stiftellar vision is going to try a ordinance for merging after Section 51, or it itself is going to hit the ordinance of merging, it should try if the ordinance of adequate degree is being looked after to the staunties participating in the merger, the staple of the foundation creditors, the staff and others who are being enriched by the merger.

Once the merger is enacted, and the ordinance in case has been approved by the Stiftellation vision, the Stiftelllation vision shall announce the ordinance of the Brasneusundres electronic announcement and alert the staple's creditors that they must report to The foundation within six weeks from the announcement, if they want to make incomes against the merger.

Make a creditor with undisputed and due redemption before the deadline's expiry, the merger cannot be carried out until the transfer has been paid. A creditor with disputed or not overdue foraging may require that reassuring security be asked, if the exodus does not come from before is reassuring secure. The stock Act Section 13-15 other clauses second period, and third and fourth joints, jf. Section 18-3, applies to the equivalent.

When the deadline for objections has been passed out without any objections from the creditors, or when claims from the creditors are processed in accordance with the fifth clause, it shall be given a bewitching to the Stiftelvision vision for each of the staple's claims that the relationship with The creditors are not of any obstacle to the completion of the Association of the Association. The receipt shall be signed by the Board and Auditor. The foundation vision shall then capture the merger in the Stifle registry. The merge takes effect from the registration time.

0 Modified by laws 14 June 2013 # 41 (ikr. 1 July 2013 ifg. res. 14 June 2013 # 638), 13 March 2015 No. 12 (ikr. 1 apr 2015 ifg. res. 13 March 2015 No. 226).
SECTION 54. Sharing of the Stations

An ordinance for reeducation can go out that a foundation is to be divided in two or more stadities.

For the completion of the share, Section applies to Section 53 equivalent, jf. still third clause in the paragrafen here.

The betting on sharing shall indicate how the foundation's assets, rights and obligations shall be distributed between the stadiments participating in the share. The stock Act Section 14-11 applies to the equivalent.

SECTION 55. Transform of other than staple charges

The rules of this chapter apply accordingly to :

a) formality values such as deal, testament, gift-tore or other privatireless disposition have been transferred to a consisting foundation or any other form of judicial subject (single person, association, company, public institution mv.), with determination of how The formuesvalue is to be used. This still does not apply to rights as being retaken by the waitrev law ;
b) formaesvalues that are collected for a specific purpose ;
c) formaesvalues belonging to an association, when it follows by uniform-legal rules that the association has no free disposal over the funds.

The rules in this chapter apply to the equivalent of public funds (fund that the public organ has deposed for specific purposes by appropriation or tax prediction) in the extent that the authority determines.

Sikad about reeducation after first and other clause can be put forward by the person that the commitment rests on, or the person who would otherwise advise over the funds the case applies.

Chapter 7. Replacement responsibility and criminal liability. Granking

SECTION 56. Replacement liability

The Foundation may require that board member, person with the positions of the organ as mentioned in Section 36, general manager, auditor and examining replace losses as they intentional or negligent have caused the foundation during the execution of their tasks.

Replacement responsibility after this paragrafen can be levees after the claim state Act Section 5-2.

SECTION 57 Decision to promote claims on behalf of the Foundation

The board will decide whether to advance the claims of claims on behalf of the Foundation against those mentioned in Section 56.

If the replacement claim applies to one or more board members, the rest of the board members determine whether the requirement should be promotion. Applies to the requirement all board members or so many board members that the Board of Directs is not passed after Section 32 first period, the requirement can be made by the person or the organ that selects the Board.

The foundation vision can under any circumstances promote replacement claims against the board's members on behalf of the Foundation.

SECTION 58. Punishment

Creates, board member, person with the positions of the organ as mentioned in Section 36, general manager and auditor as intentional or negligent provision given in or in co-law here, punishable by fines or under display conditions with prison for up to one year.

Leading employee assigned authority to hit decision on behalf of the foundation within refined case areas, and as intentional or negligent provision given in or in co-law here during the exercise of his authority, the penalty of fines or under display conditions with prison for up to one year.

The statute of limitations for admission to travel criminal charges is five years.

0 Modified by law 19 June 2015 # 65 (ikr. 1 oct 2015).
SECTION 59. Granking

The Foundation's vision can be stopped to probe the creation of a foundation, the administration of it or closer to designated conditions at the administration or the accounting of the books. The Foundation's vision is to give the foundation or in case it as the inquiry otherwise will include, the occasion to comment before the decision is meeting.

The Foundation's vision can conduct the inquiry itself, or mention one or more grandiers to conduct scrutiny on behalf of the Stiftelle vision. The Foundation's leadership is going to ensure that the Stiftelle vision, optionally the inquiry, is given the occasion to conduct necessary investigations into the foundation and that they are provided necessary information or other assistance. The badge appointed is investigating the secrecy of the law after the Management Act Section 13 fg.

It shall be given written account of the inquiry. The direction of the company is to be sent the foundation and others affected by the inquiry.

The Foundation's vision can impose the foundation completely or partly to cover the public's expenses by the inquiry.

Chapter 8. Iforce wooden parts and transition rules. Changes in other laws

SECTION 60. Istrontrecation

The law applies from the time the King decides. 1

1 Ikr. 1 jan 2005 ifg. res. 19 Nov 2004 # 1489, with the exception of the following provisions in Section 62 :-# 1 about changes to inheritance tax law 19 June 1964 # 14, No. 1 3 about changes in bankruptcy law 8 June 1984 # 58, the changes in the No. 4 of the venture registry law 21 June 1985 # 78 Section 4-4 (1) letter a and letter e other period,-# 5 about changes to the funding enterprise law 10 June 1988 # 40, and-the change in number 9 of the Accounting Act 17 July 1998 No. 56 SECTION 9-1. By law 29 apr 2005 # 22 became the change in Section 62 No. 1 and # 3 repea Ifg. res. 29 apr 2005 # 366 stepped the following provisions in Section 62 ikr. 29 apr 2005 :-the change in number 4 of law 21 June 1985 # 78 about registration of enterprise Section 4-4 (1) letter a and letter e other period and-change in number 9 of law 17 July 1998 # 56 about anniversaries m.v. SECTION 9-1.
SECTION 61. Overtime rules

For the stigations created before the Act takes effect, the law applies to the following exceptions and particular rules :

a) The requirement in Section 14 first clause that the staunties should have a founding capital of at least 100,000 crowns at the creation, shall not apply to the staunties created before the law takes effect.
b) Proximity stitching as mentioned in Section 4 else clause the letters a and b, and as at the time the law takes effect, has a founding capital of less than 200,000 kroner, shall be at the latest within five years after the Commencement Act raised the founding capital of at least this the amount, jf. Section 22 first period. The foundation's vision can after application make exceptions from the first period.
c) The Foundation created before the law takes effect the latest in two years after the Commencement Act has been reported to the Stiftellvision in accordance with Section 11 first joints. Section 12 first clause the letters a and b apply accordingly.
d) The betting that is not in accordance with the law shall be the latest within two years after the Commencement Act was brought in accordance with this one. Changes necessary to bring the ordinance in accordance with the law shall be performed by the rules in Chapter 6, nonetheless with the exception of Section 46.
e) Loans or security standoff that are in violation of Section 20 shall be discontinued or brought in accordance with the determination of the latest within two years after the Commencement of the Act.
f) Foundation charges created before the law take effect shall be organized in accordance with the rules of Chapter 4 only within two years after the Commencement Act.
g) Transform as it has been met with the ordinance of or sought the county's husband if before the law takes effect, be carried out by the rules of law 23. May 1980 # 11 about the foundation's m.Chapter VI.
h) Up until 1. January 2009, the Stiftellestivision avoidance to announce the ordinance of a foundation by the rules of Section 52 other clauses, if the public finds that the envision of the foundation's creditors are adequately looked without such an announcement or by limited announcement. All creditors with known address should no matter as far as possible have special notice.
in) The king can give closer transition rules.
0 Modified by law 15 June 2007 # 36.
SECTION 62. Changes in other laws

From the time the law takes effect, the following changes are made in other laws :

1.---

0 Raised by law 29 apr 2005 # 22.

2. Law 23. May 1980 # 11 about the staunties m.more repeaties.

3.---

0 Raised by law 29 apr 2005 # 22.

4. In law 21. June 1985 # 78 whether registration of enterprises is made the following changes :---

5. In law 10. June 1988 # 40 on funding business and financial institutions are made the following changes :---

0 Modified by law 29 apr 2005 # 22.

9. In law 17. July 1998 # 56 about anniversaries mv. (Accounting Act) is made the following changes :--

0 Modified by law 29 apr 2005 # 22.

----

0 Ikr. 1 jan 2005 ifg. res. 19 Nov 2004 # 1489, with the exception of the following provisions in Section 62 : No. 1 about changes to inheritance tax law 19 June 1964 # 14, No. 3 about changes in bankruptcy law 8 June 1984 # 58, the changes in number 4 of the venture registry law 21 June 1985 # 78 Section 4-4 (1) letter a and letter e other period, number 5 about changes to the funding enterprise law 10 June 1988 # 40, and the change in number 9 of the Accounting Act 17 July 1998 No. 56 SECTION 9-1. By law 29 apr 2005 # 22 became the change in number 1 and # 3 repea Ifg. res. 29 apr 2005 # 366 stepped the change in number 4 of the venture registry law Section 4-4 (1) letter a and letter e other period and change in number 9 of the fiscal law Section 9-1 ikr 29 apr 2005. Ifg. res. 21 des 2005 # 1608 stepped the change in number 5 of the funding enterprise law Section 2-22 ikr 21 des 2005.