Director of the Fund


Appointment of Director

  • The supervisory board shall appoint and remove the Director of the Fund.
  • The supervisory board shall decide on the conclusion, amendment, suspension and termination of the agreement with the Director;
  • The chairman shall conclude, amend, suspend and terminate the agreement with the Director on behalf of the Fund.
  • The term of authority of the Director shall be three years. The authority of the Director shall commence as of the date provided for in the resolution on his or her appointment. 

Competence of Director

The Fund shall be managed and represented by the Director.
The Director shall:

  • make proposals to the supervisory board for adoption of resolutions;
  • organise the activities and the accounting of the Fund;
  • decide on the making of expenditure which is necessary for the activities of the Fund according to the budget;
  • approve the internal procedure rules and other internal documents necessary for the activities of the Fund;
  • enter into, amend, suspend and terminate employment contracts with the employees of the Fund;
  • determine the remuneration of the employees of the Fund within the limits of expenditure prescribed therefor in the budget;
  • submit an overview of the activities of the Fund, implementation of the budget of the Fund and the economic situation of the Fund to the supervisory board at least once every three months;
  • decide on other matters falling within the competence of the Director pursuant to law, the statutes or the resolutions of the supervisory board;
  • perform other duties arising from legislation or assigned by the supervisory board.

The Director shall be subordinate and report to the supervisory board. The activities of the Director shall be based on the resolutions of the supervisory board.