Bylaws of the Foundation

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Clarification to the clause ‘purpose of the foundation’ as provided by the Board of Directors of the John Nurminen Foundation

The clarification explains why the protection of the marine environment is a natural part of the cultural tradition of Finnish seafaring and maritime history. Excerpt from an appendix to the minutes of the Board of Directors:

Operational bylaws of the John Nurminen Foundation

The operations of the John Nurminen Foundation are based on the Foundations Act, the last approved bylaws of the John Nurminen Foundation (National Board of Patents and Registration of Finland, 14 August 2007), generally accepted good practices for foundations, and other rules and decisions separately approved by the Board of Directors.

All operations of the Foundation are based on its purpose (section 2): ‘The purpose of the Foundation is to preserve and safeguard the history and cultural traditions of international trade and related service industries in Finland, and to sustain the interest of the general public in these topics.’ The Foundation implements its purpose in various ways, which include, for example, providing financial support to operations that are in line with its purpose, and through other means mentioned in its bylaws (section 3).

In the view of the Board of Directors, ‘international trade and related service industries’ applies to exchange of information, communications, exchange of items and cultural exchange, and the related logistics services, support activities and operating environments. The specific purpose of the Foundation is to safeguard and preserve the history and Finnish cultural traditions related to the abovementioned areas, which refer to, amongst others, seafaring and the protection of the marine environment in a way that allows it to be freely and traditionally utilised, also preserving its usable condition, by all citizens and stakeholders, including those who engage in the service industries. The Foundation’s specific purpose is to protect the Finnish marine environment.

Excerpt from the bylaws of

the Clean Sea Fund 2

Section 1 Name of the fund

The name of the Fund is ‘Puhdas meri 2’, in Swedish, ‘Fonden för ett Rent Hav 2’, in English, ‘Clean Sea Fund 2’, and in Russian, ‘фонд “Чистое море” 2’.

Section 2 Purpose of the Fund

The purpose of the Fund is to work for a clean Baltic Sea, improving both the use value of the Sea and its value as a natural environment The target is to reduce the nutrient loads of the Baltic sea and, in particular, the Gulf of Finland, or to promote solutions to other environmental problems faced by the Baltic Sea, increasing awareness of its environmental status.

Section 3 Implementing the purpose of the Fund

In line with its purpose, the Fund promotes, develops, finances and implements projects that have a significant, positive impact on the status of the Baltic Sea or increase awareness of the Sea’s environmental status. The Fund also supports or participates in similar projects run by other stakeholders. Emphasis is on operations that have the fastest and most cost-efficientxx positive impact on the use value of the Baltic Sea as well as its value as a natural environment. The John Nurminen Foundation can accept donations and bequests to the Fund if they meet the Fund’s set criteria.

Section 4 Decision-making and monitoring

The John Nurminen Foundation Board of Directors defines the Foundation’s projects and activities, and sets their schedules and targets. The Board of Directors of the John Nurminen Foundation monitors the implementation of projects and activities closely, taking into consideration the Fund’s purpose as laid out in these bylaws. The Board of Directors of the John Nurminen Foundation or a party authorised by the Board makes more detailed decisions on how funds directed to the Fund are used in accordance with these bylaws.