§ 20  Report from the Board of Directors

(1)       The Report from the Board of Directors on the activities of the Guarantee Fund is presented to the General Meeting by the board. It should be enclosed with the notice convening the General Meeting. The Report form the Board of Directors is signed by the entire board and initialled by the Fund’s business manager.

§ 21  Financial statements

(1)       The Guarantee Fund's financial statements are prepared for the calendar year. Any surplus is added to the Fund’s capital.

(2)       The business manager shall submit a draft of the audited financial statements to the board before the end of March.

(3)       The financial statements shall be signed by the entire board and initialled by the business manager.

(4)       The financial statements are enclosed with the notice convening the Annual General Meeting.