§ 1 Name and legal status.
Name of Foundation: The Nordic Institute for Studies in Innovation, Research and Education
§ 2 Seat
Foundation based in Oslo.
§ 3 Purpose
The foundation’s purpose is to be a leading institute for the study of knowledge and skills, education and knowledge, research, innovation and technology. The department shall, through research, evaluation, analysis and statistics to promote understanding of how knowledge and skills are organized, developed, disseminated and used in society, nationally and internationally. The department will study the management and organization of knowledge production, knowledge dissemination, learning and innovation in all aspects of society. The Institute will be an independent and critical knowledge producer, active dialogue partner and a proactive agenda-setter for policy in the areas of education, research, innovation and skills development.
§ 4 The Foundation
NIFU is an independent and autonomous foundation, not-profit purpose. Profit achieved through the activities to be applied to the realization of the Foundation’s charitable purposes. The foundation capital is NOK 1.0 million.
§ 5 Organization
The foundation is managed by the Board and Director.
§ 6 Composition
The Board consists of 7-9 members:
- Five to six members and two alternates appointed by the numeric Research Council based on input from the Ministry of Local Government and Regional Development, Industry and Trade, Research Council in Sweden and the Research and Innovation Agency of Denmark.
- At least three Nordic countries will be represented on the Board.
- By and from those members appointed by the Norwegian Research Council Chairman and Deputy Chairman.
- In addition, up to three directors and their deputies from among the employees by applicable rules of incorporation law.
Board members are appointed for a three year period. None of the nominated directors can serve as members of the Board for more than six consecutive years.
§ 7 Board responsibilities
The board is responsible for the Foundation’s administrative Registration Act. Especially the responsibility of the Board to:
- prepare and periodically revise the guidelines for the Foundation’s activities,
- approve work programs and budgets for the coming period,
- produce the annual report and accounts for the Foundation’s activities,
- ensure that the composition of the staff adapted to the tasks that the Foundation has and will go on in the future, including in particular keep abreast of director appointments and dismissals of senior staff reporting directly to the President and determine wages and working conditions for staff within the rules stipulated in the Working Environment Act and the rules that bind the foundation for collective basis,
- oversee the foundation’s work, including its academic activities and ensure proper economy, including adequate reserves.
§ 8 External representation
The board represents the Foundation externally. The foundation’s signature is signed by the chairman and another board member together. The Board may grant power of attorney.
§ 9 Board meetings
Board of Directors or the manager appoints, convenes meeting. It shall be convened board meeting if requested by at least half of the members. Quorum when at least four members, including the chairman or deputy, is present. Director participates in board meetings without voting rights. Otherwise, the Registration Act, Section 9
§ 10 Director
President of the daily management of the Foundation. Director prepares the matters to be considered by the Board, and implement its decisions.
§ 11 Amendment of the Statutes
Amendments to these Bylaws may be decided by the board with a two-thirds majority of the members present at two meetings with at least three months. Changes in the purpose clause must also be approved by the Ministry of Education and Research Council.
§ 12 Revision
Foundation’s financial statements audited by a certified public accountant. The auditor should ensure that the Foundation’s activities are consistent with the Foundation’s purpose, the business is run in a financially responsible manner and that government grants are spent as intended.
§ 13 Resolution
Foundation dissolved by decision of the Board with at least a two-thirds majority of the members present at two meetings convened with a minimum of three months. The decision must be approved by the Ministry of Education and Research Council. Foundation funds will, decided by the Board applied so that the purpose of the foundation has sought to serve the beneficiary as possible.