SUPERVISORY BOARD

Article 27

The Supervisory Board consists of five members, elected by the Assembly of the Federation for a period of office of four years.

Members of the Supervisory Board shall come from different founders.

The President of the Supervisory Board is elected by the members of the Supervisory Board.

A member of the Supervisory Board can not at the same time be elected to other management bodies of the Federation or of the founders.

Article 28

The Supervisory Board makes decisions by majority vote of all the members.

At the sessions of the Supervisory Board minutes shall be recorded.

The minutes are signed by all the attending members and then submitted to other members of the Supervisory Board and to the President of the Assembly.

Article 29

The Supervisory Board supervises and controls the overall financial and material operations of the Federation and is entitled to insight in all documents of the Federation related to the financial and material operations of the.

The Supervisory Board supervises and controls the overall financial and material operations of the founding members and associated organizations in terms of using the funds for ear-marked purposes for funds which the founders and associated members receive through the Federation.

The Supervisory Board performs the control on quarterly basis.

In cases when the Supervisory Board determines any irregularity, it shall report it to the Executive Board and shall propose the deadline for removal of such irregularity.

Should the Executive Board fail to remove the irregularity, the Supervisory Board may convene a session of the Assembly and request the Assembly to make the final decision regarding the disagreements between the Executive Board and the Supervisory Board.

Article 30

The Supervisory Board shall submit its annual report to the founding members and the Assembly of the Federation.

The Supervisory Board may, at any time, submit its comments and specific proposals to the Executive Board.

Members of the Supervisory Board may attend any session of the Executive Board when invited or of their own initiative.

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ARTICLES OF ASSOCIATION