About the Foundation / Articles of Incorporation

ARTICLE VIII

AUDITING COUNCIL

/1/ The Auditing Council monitors the observation of the principles and the guidelines of the development and management of the Foundation by the executive bodies of the Foundation, monitors the correct use and protection of the endowment, controls the legality of the incurred expenditure and their compliance with the decisions of the governing bodies and the Constitutive Act of the Foundation.

/2/ Members of the Bureau need not be elected members of the Auditing Council.

/3/ The Chairman of the Auditing Council is elected by the members of the Auditing Council.

ARTICLE IX

REPRESENTATION

The Foundation is represented by its President or by a person authorized by him.

ARTICLE X

MANDATE OF THE PRESIDENT

/1/ The President of the Foundation:

    1. represents the Foundation to third parties;
    2. makes proposals on the development of the Foundation to the Bureau of the Foundation, and, on its behalf, to the Council of the Foundation;
    3. monitors the implementation of the decisions of the Bureau and the Council of the Foundation;
    4. exercises control over the annual budget performance of the Foundation.

/2/ In absence of the President his mandatory power is given to an appointed by him deputy (vice-president).

ARTICLE XI

MANDATE OF THE SECRETARY GENERAL

/1/ The Secretary General:

    1. manages the day-to-day activities of the Foundation;

    2. enters into labor agreements, appoints and dismisses the Foundation personnel;

    3. signs contracts on behalf and at the expense of the Foundation. The agreements and contracts related to acquisition and disposal of immovables and property rights on them, mortgages, warranties and bank loans, as well as acquisition of shares are made with the preliminary consent of the Bureau;

    4. The Secretary General reports on his activities to the president of the Foundation;

/2/ The Secretary General reports on the Foundation’s activities each year to the Bureau of the Foundation.

ARTICLE XII

ORGANIZATION AND MANAGEMENT REGULATIONS

/1/ The organization and management of the Foundation is regulated by the Regulation adopted by the Bureau of the Foundation in keeping with this Constitutive Act.

CLOSING ARTICLE

This Constitutive Act was adopted on October 20, 1982 and was amended on March 13, 1990 at the proposal of the Bureau of the Foundation, and on ……………, 1992 at the proposal of the Foundation Council and approved by the Minister of Culture and Minister of Finance.

This final version of the Constitutive Act of the Foundation is adopted following Article 1 of the Closing Remarks of the Law on Non-Profits and after a decision of the Council taken at its regular meeting held on June 02, 2001.