IFBF

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Home About IFBF Constitution

Constitution

NAME
  • The society shall be known as the Indo- Finnish Business Forum and is hereinafter referred to as “IFBF” .
  • The registered place of business of the IFBF shall be at the Finland Trade Center in New Delhi. OBJECTIVES.
  • Promote and develop business and friendship relations between Finland and India: Exchange information, share experiences and provide assistance for Finnish companies operating in India.
ACTIVITIES
  • The Forum shall operate in the ways that promote its objectives. It shall regularly organize meetings and other social activities.
MEMBERSHIP
  • There shall be Corporate Members and Individual Members. Membership shall be open to companies and persons having direct or indirect business interest with Finland. Corporate Members each have a single vote but may have one or more executives participating in all the IFBF meetings.
  • Admission of Membership shall be at the absolute discretion of the Board.
ANNUAL MEMBERSHIP FEE
  • There shall be an annual membership fee which is determined by the Board.
RESIGNATION, SUSPENSION AND EXPULSION
  • A member may at any time by giving notice in writing to the Chairman resign his/her Membership, but shall continue to be liable for any membership fee or other sum due and unpaid at the date of his/her resignation.
  • If any Member were to persistently violate this Constitution or if his/her conduct shall in the opinion of the Board be injurious to the IFBF, the Board shall after inquiry and notice given, exercise its powers of suspension or expulsion of a Member whose conduct is in question.
ANNUAL GENERAL MEETINGS
  • The Annual General Meeting shall be held each year for the following purposes:
    • To decide the annual membership fees.
    • To receive from the Board a Report of Activities, a Balance Sheet and Statement of Accounts for the preceding financial year and a Budget for the current financial year.
    • To elect Members for the Board for the following two years o to appoint auditors for the following two years.
    • To decide on any resolution which may be duly submitted to the meeting as hereinafter provided o to transact any other business.
  • Any Member desirous of moving any resolution at the Annual General Meeting shall give notice in writing to the Chairman not less than one week before the date of such meeting.
  • The Board may at any time for any special purpose call an Extraordinary General Meeting.
  • At least fourteen days before the Annual General Meeting or Extraordinary Meeting a written notice of such meeting and of the business to be transacted there shall be sent to every Member. Constitution of Indo - Finnish Business Forum
  • At all General Meetings, the Chairman and in his/her absence, the Vice Chairman shall take the chair. Every Corporate or Individual member present shall be entitled to one vote upon every motion, and in the case of an equality of votes, the Chairman shall have a second or casting vote. Upon a request by a majority of those present, the voting is to be conducted by secret ballot.
BOARD
The day-to-day management of the IFBF shall be deputed to a Board of four or five Board Members elected every second year at an Annual General Meeting.
The board shall represent the IFBF in its dealings with external bodies
  • The Board Members will choose in their first Board Meeting a Chairman and a Vice Chairman of the Board who will also act as Chairman and Vice Chairman of the IFBF respectively.
  • The Board shall have power to authorize the expenditure of such sums as it may deem fit from the IFBF's funds for the purposes of promoting and furthering the objectives of the IFBF.
  • The Finland Trade Center is entitled to nominate one Board Member.
  • The Chairman or in his/her absence, the Vice Chairman shall preside at all General Meetings of the IFBF and shall be responsible for the proper conduct of business at such meetings
  • The officers of Secretary and Treasurer shall perform duties and functions assigned to them.
QUORUM AT GENERAL MEETINGS
  • In any General Meeting, Annual or Extraordinary, not less than 25% of the Members entitled to receive notice of and vote at such meeting, shall form a quorum.
ACCOUNTS AND AUDIT
  • The financial year of the IFBF shall end on the 31st December each year, to which day the accounts of the IFBF shall be balanced.
  • At every second Annual General Meeting, maximum two Members of the IFBF, not being Members of the Board, shall be elected to serve as auditors for the ensuing year.
AMENDMENTS TO RULES
  • No alterations of additions to this constitution shall be made except at a General Meeting.
  • One calendar month's notice by Member entitled to vote of the intention to propose any new Constitution or amendments shall be given to the Board who shall send notice of the same to every Member entitled to vote at least two weeks before the General Meeting.
INTERPRETATION
  • The Board shall be the sole authority for the interpretation of the Constitution and the decision of the Board upon any question of interpretation or upon any matter affecting the IFBF and not provided for by this Constitution shall be final and binding on the Members unless altered or reversed by resolution of the Members of the IFBF at an Annual General Meeting or at an Extraordinary General Meeting.
DISSOLUTION Constitution of Indo - Finnish Business Forum
  • The IFBF shall not be dissolved except with the consent of three-quarters of the Members at a General Meeting convened for said purpose.
  • In the event of the IFBF being dissolved, all debts and liabilities shall be fully discharged and the disposal of the remaining funds shall be decided by the General Meeting.