Impande, Gamalakhe Foundation Norway
§ 1 Name
The name of the Foundation is Impande Gamalakhe Foundation Norway
Ekraveien 13, 0756 Oslo.
The Foundation’s office municipality is Oslo.
§ 2 Purpose
The Foundation’s new purpose is to:
– contribute with competance and economic support to deliveries and services in the development of the population of Gamalakhe Township and surrounding districts,
– contribute to the development of friendships and cultural exchange across national, racial and other borders, and
– contribute to institutional development of and between schools and Non-Governmental Organisations, NGOs, in Norway and KwaZulu-Natal
§ 3 Base Capital
The Foundation’s base capital (equity) is NOK 100 000,-.
§ 4 The Foundation’s Board of Directors
The Foundation’s Board has from 5 to 8 members. Each member sits for periods of 4 years at a time. To ensure overlapping term of function, half of directors will first retire after two years. The Board assigns new members at the end of each functional term.
The Chairman of the Board is elected/appointed by the Foundation’s board.
§ 5 Duties of the Board
The Board conducts the Foundation’s operations and holds all remedies not under these statutes or by law added to another body.
The Board shall ensure a proper management and allocation of the management capital. The Board shall provide the Foundation Authority notices as referred to in the Foundation Act. The Board shall provide for the preparation of the annual settlement and the annual report of the Foundation.
The board can employ business operators and calculate their remuneration for their work.
§ 6 Board meetings
The Chairman of the Board summons meetings with the required frequency. The board makes its decisions by simple majority. In a tied vote, the Chairman of the Board has double vote.
§ 7 Allocation of the Foundation’s funds
Funds that have been granted or appropriated to the foundation for earmarked purposes, programs, services, and/or institutions commit the Board to allocate them in accordance with the donor’s/grant’s intention.
If the recipient of earmarked funds in South Africa has ceased, the Board shall find alternative recipients of these means in line with the Foundation’s purpose.
§ 8 Auditing
The foundation shall have a registered or state-certified auditor elected by the Board.
§ 9 Statute changes
These statutes may be amended by decision of the Foundation’s Board.
§ 10 Reorganisation /Resolution
Reorganisation, dissolution, merger and sharing can be sought in decisions in the Foundation’s Board.
Reorganisation may only be carried out in accordance with specific reorganisation rules set out in the Law on Foundations.
In the case of dissolution or other reorganisation that makes it appropriate to depart from the original purpose, a new purpose should preferably be sought in the area of children and youth in Southern Africa and especially for orphans.
This section 10 may only be amended by public consent under the provisions of the Law on Foundations.