Articles of Association for Impande Norway

1 Name

The foundation’s name is Impande Norway

Ekraveien 13, 0756 Oslo.

The Foundation’s office municipality is Oslo.

2 Purpose

The foundation’s purpose is to contribute expertise and financial resources to deliveries and services in the development of the population in the most needy areas in South Africa, with special focus on the UN’s sustainability goal 4, which deals with education at all levels

3 Starting Capital

The foundation’s share capital (equity) is NOK 100,000.00

4 Board

The foundation’s board has from five to eight members. Each member works for periods of four years at a time. To ensure overlapping terms of office, half of the board members must resign for the first time after two years. The Board assigns new members at the end of each functional term.

5 Tasks of the board

The board ensures the foundation’s operations and holds all rights that have not been added to another body by these articles of association or by law.

 

The board, together with the managing director, shall ensure sound management and disposition of total assets. 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 a manager and calculate their remuneration for their work.

6 Board meetings

The chairman of the board convenes meetings with the required frequency. The board makes its decisions by a simple majority. In the event of a tie, the chairman of the board has a double vote.

7 Allocation of the foundation’s funds

The funds given or granted to the foundation for earmarked purposes, programs, services and/or institutions oblige management and the board to dispose of them in accordance with the donor’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 must have a registered or state-authorized public accountant who is elected by the board.

9 Amendments to the Articles of Association

These statutes may be amended by decision of the Foundation’s Board.

10 Transformation / Dissolution

Transformation, dissolution, merging and division can be sought for decision by the foundation’s board.

Transformation can only be carried out in accordance with special conversion rules laid down in the Act on Foundations.

 

In the event of dissolution or other transformation that makes it relevant to deviate from the original purpose, a new purpose shall preferably be sought within the area for children and young people in South Africa.

This section 10 can only be amended with public consent in accordance with the provisions of the Act and Foundations.