Bylaws of the Foundation
BYLAWS OF THE MAJ AND TOR NESSLING FOUNDATION
The name of the foundation is Maj and Tor Nesslingin Säätiö (Swedish Maj och Tor Nesslings Stiftelse) and it is located in the city of Helsinki.
2 § (updated 27.10.1978)
The purpose of the Foundation is to advance technical and scientific research in order to prevent both direct and indirect pollution in air and water, to build cleansing systems for polluted waters and to improve environmental protection in general.
This purpose is put into practice by handing out grants, scholarships, acknowledgements and other awards for the scientists specialised in the research in question. The Foundation carries out its purpose also by providing working spaces and equipment for research and by supporting all activity useful for the cause.
The original capital endowed for the establishment of the Foundation is 100 000 marks (of the former Finnish currency).
The funds should be invested securely and profitably, unless they are to be used imminently for the benefit of the foundation’s objectives.
The Foundation may have special funds.
The Foundation is entitled to accept donations and wills, and to increase its property in other legal ways.
The Foundation is administered by a governing board. The board represents the Foundation and takes care of its interests.
The governing board may set advisory and other boards for its support, if needed. The governing board also sets bylaws for other boards.
6 § (updated 27.4.2015 and 29.9.2015)
The governing board consists of minimum of five and maximum of nine members, depending on the governing board’s decision. Members work in five-year terms. A term begins and ends at the annual meeting. If a member is elected at any other time, his/her term will end at the fifth annual meeting of his/her membership.
The same person may be elected to be a member of the governing board for a maximum of two terms. Terms ended at the annual meeting of 2015, or before it, are not be taken into account when applying this rule.
A member is required to resign before he/she is 70 years old. The governing board elects an alternate member when needed.
The board elects a chairman and a vice-chairman from among its members for one year at a time.
7 § (updated 15.8.2011)
The governing board can appoint an attorney for the Foundation. The attorney manages routine administration according to the guidelines presented by the governing board. The board decides on the attorney’s wages.
The members of the governing board are paid an annual fee. The size of the fee is decided in the annual meeting.
8 § (updated 29.5.1979)
The name of the Foundation should always be signed by the members of the governing board and possible attorney. Two people should always be present when signing the name.
Chairmen are elected in the annual meeting of the governing board. The governing board’s annual report is also presented in the meeting, together with the accounts and the accountant’s statement. The governing board will decide on the action needed. The annual budget is to be confirmed in the meeting, as well as the accountant’s fee and the attendance fee of the board members. Two accountants and two vice-accountants are chosen.
At least one of the accountants and the vice-accountant should be KHT- or HTM - accountants.
10 § (updated 15.8.2011)
The Foundation’s financial statement is done once in a calendar year. The financial statement should be handed to the accountant by March 15th. The accountant should make a statement within two months.
Copies of the financial statement, the accountant’s statement, the annual report and the necessary information of the transcript of the governing board’s annual meeting should, together with other necessary documents, be handed over to officials within the time given.
11 § (updated 15.8.2011)
The name of the Foundation cannot be changed.
Changing the bylaws in any other way requires a support of at least three quarters of the members of the governing board. The change of the bylaws should be ratified by the supervising authority of the Foundation.
The termination of the Foundation is also decided in this order.
In the event of termination of the Foundation, the capital is to be handed over to another foundation chosen by the governing board. The purpose of the chosen foundation should be essentially similar to that of the Nessling Foundations’. The other foundation in question should establish a special fund for the assets, with a purpose as similar to that of the Nessling Foundations’ as possible.