Documents/annual report in electronic format
The Supervisory Board adopted the following amendment to the Articles of Association, Chapter 7, Article 7-2:
NEW: Article 7-2. Dispatch of documents posted on the savings bank's website
When documents related to matters to be considered by the Supervisory Board are made available on the Saving Bank's website, the statutory requirement that the documents shall be sent to the members of the Supervisory Board or to others required by law to receive such documents does not apply. The same is true of documents which pursuant to law are to be included in or enclosed with notice of a meeting of the Supervisory Board. A member of the Supervisory Board or others who are required by law to receive such documents may none the less demand to be sent documents relating to matters to be considered at a meeting of the Supervisory Board.
Amendments to the Articles of Association
The Supervisory Board has adopted amendments to the Articles of Association (see enclosure 4B). The amendments, listed below, bring the Articles into line with amendments made to the Savings Banks Act and the Financial Institutions Act with regulations:
- Articles 1-1, 2-1, 3-1.3-2,3-3,3-4,3-5, 6-1, 6-2, 7-1 and 9-1:
- Present Chapter 11 is amended to new Chapter 12, and new Chapter 11 relating to special owner rights of redemption in the event of merger is included.
- Provisions relating to a statutory audit committee are included in new section 5-4 and section 8-1 first paragraph is amended accordingly.
- The Board of Directors' duty to meet once a month is removed from section 5-2. A new third paragraph on the Board of Directors' responsibilities is included in section 5-3. A new third paragraph, relocated from section 5-1, relating to the chief executive officer's participation in the Board of Directors' consideration of items of business is included in section 5-5.
- A clarification in regard to elected officers' period of service is included in section 10-1.
- Minor textual adjustments and structural changes, such as division into a larger number of paragraphs and use of sub-chapters, are made.
- 'Primary capital certificates' (PCCs) is changed to 'equity certificates' (ECs).
- 'Primary-capital-certificate capital' (PCC capital) is changed to 'issued equity certificate capital' (issued EC capital).
- 'Primary capital certificate holders' (PCC holders) is changed to 'equity certificate holders' (EC holders).
- References to law and regulations are amended/updated in accordance with new act/regulations.
The Supervisory Board adopted the above amendments in its proposal for new Articles of Association in enclosure 4C.