MANAGEMENT
The management structure of the Foundation consists of several different layers. The governing bodies of the Foundation are: the Council of the Foundation, the Bureau of the Foundation, the Auditing Council, the President and the Secretary General.
The Council of the Foundation is its supreme body. The members of the Council cannot exceed 51. The Council is empowered to fill in vacancies and alter its composition, strength and Constructive Act. Member of the Foundation may be any person irrespective of his/her citizenship who accepts and works for the achievement of the objectives of the Foundation. The Council of the Foundation elects for a term of three years the President of the Foundation, who is also chairman of the Council, his deputies, members of the Bureau and the Auditing Council; the Council adopts a programme for the activities of the Foundation; the Council approves the report of the Bureau on the performance of the Foundation and takes decisions on it.
The Bureau of the Foundation is the executive body of the Foundation. The Council of the Foundation determines the strength and the mandate of the Bureau. The President, his deputies and the Secretary General are included in the Bureau by right. The Bureau of the Foundation ensures the implementation of the decisions taken by the Council and the achievement of the objectives of the Foundation; determines the regulations on the non-profit distribution of the property of the Foundation, the method of support and the selection of the persons to be supported; adopts the annual planning programme and the budget of the Foundation and publishes an annual report on the activities of the Foundation; acts as the owner of the capital of the companies established by the Foundation; approves the Presidents report and takes measures for the elimination of any weaknesses and shortcomings.
The Auditing Council monitors the observation of the principles and the guidelines for the development and management of the Foundation by the executive bodies of the Foundation, monitors the correct use and maintenance of the property, controls the lawful disbursement of the funds and the compliance of the incurred expenditure with the decisions of the governing bodies and the Constructive Act of the Foundation. The members of the Bureau cannot be elected for members of the Auditing Council.
The President of the Foundation represents the organization to third parties. The President makes proposals on the development of the Foundation to the Bureau and, on behalf of the Bureau, to the Council of the Foundation. The President monitors the implementation of the decisions of the Bureau and the Council of the Foundation and exercises control over the annual budget performance of the Foundation.
The Secretary General manages the everyday activities of the Foundation. The Secretary General signs contracts on behalf and at the expense of the Foundation and requests the consent of the Bureau for all agreements and contracts related to real estate properties, property rights, mortgages, warranties, bank loans and acquisition of shares. The Secretary General informs the President of the Foundation about his activities and annually reports the activities of the organization to the Bureau
