Decision on Establishment of the Ltd Project Consulting

More documents

Recommendations

Info

- preparation of project tasks for drafting feasibility studies, studies of environmental impact assessment, necessary project documentation, etc; - performance of tasks relating organisation and carrying out of tender procedure, organisation and evaluation of tenders and other activities stipulated by the contract on funding projects from the area of communal services and environmental protection; - expertise for preparing contracted documentation; - preparation of report on the implementation of projects funded by the international financial institutions as required by the founder, local self-government and the international financial institutions; - delivery of other tasks in compliance with the Statute. During its operation referred to under paragraph 1, Ltd Company establishes cooperation with international financial institutions and local self-government for providing material and professional assistance for implementation of the specific projects. Ltd is entitled to perform other tasks within its competence. IV AUTHORISED CAPITAL Article 7 The authorised capital of the Ltd Company is the amount of 500 000,00 €, which will be paid in accordance with the following dynamics: - on date of registration 80 000,00 €; - during 2008 210 000,00 € and - during 2009 210 000,00 €. Authorised capital referred to under paragraph 1 is property of the founder. Article 8 Ltd Company shall provide the funds for its functioning from: - charging for the Ltd Company’s services; - donations; - other sources in compliance with the Law. Funds referred to under paragraph shall be provided on the basis of the annual Action Plan of the Ltd Company. V ORGANISATION AND MANAGEMENT OF THE NATIONAL UNIT Article 9 Ltd is manager by the founder in a way and under the conditions stipulated by the Law, this <strong>Decision</strong> and Statute of the Ltd Company. Article 10 The founder of the Ltd Company: - gives approval to the Statute of the Ltd Company, - decides upon organizational changes of the Ltd Company, - gives approval to the annual Action Plan and financial projections of the Ltd Company, - considers annual performance report and financial projections of the Ltd Company, that is, financial statements; - decides upon distribution of profit upon a proposal by the Director, - decides upon revision of constituent capital upon a proposal of the Board of Directors, - considers development strategy of the Ltd Company,
- considers performance reports, - gives approval to election of Executive Director of the Ltd Company, - gives approval to the Act of organisation and systematisation of positions, - appoints independent auditing agency. Article 11 Organisation and method of work of the Ltd Company shall be regulated by the Statute and other general acts in compliance with the Law. The Board of Directors approves the Statute of the Ltd Company. Article 12 The bodies of the Ltd Company are Board of Directors and Executive Directors. Ltd Company may have its Advisory Committee. Number, structure and method of selecting members of Advisory Committee are stipulated by the Statute of the Ltd Company. Board of Directors of the Ltd Company is appointed by the founder for the four-year period. The method of proposing, selecting and appointing of members of the Board of Directors are stipulated by the Statute of the Ltd Company. Rights, duties and responsibilities of the Board of Directors and Executive Director are stipulated by the Statute of the Ltd Company. Article 13 Board of Directors is the body managing the Ltd Company. Members of the Board of Directors perform their tasks for the interest of the Ltd Company and act with the diligence of a good manager. Article 14 The Board of Director shall comprise seven members as follows: one representative of the state administration authority responsible for communal services and funding, three representatives of the local self-government proposed by the Community of Municipalities of Montenegro, one representative of the stakeholders (NVO, scientific and professional organizations, individuals, etc.) and one representative of the employees of the Ltd Company. The Board of Directors shall make valid decisions if majority of members of the Board is present at meetings, and it shall make decisions upon votes of the majority of total number of members of the Board, provided other forms of majority are not stipulated by the Statute. Article 15 Board of Directors: - approves the Statute of the Ltd Company; - defines business policy of the Ltd Company, approves acts for its implementation and defines compensation for performance of services; - adopts annual Action Plan and financial projections of the Ltd Company and annual financial statements; - adopts report on implementation of annual Action Plan and financial projections of the Ltd Company; - proposes to the founder decrease or increase of the authorised capital; - proposes to the founder distribution of profit and covering of losses; - elects Executive Director with approval of the founder; - submits performance report to the founder at least once a year; - approves Act on organisation and systematisation of positions;
Page 1: Pursuant to Article 64 of the Compa
Page 5: This Decision shal

Decision on Establishment of the Ltd Project Consulting

Create successful ePaper yourself

Delete template?

Save as template?