- See also:
-
Chapter 3
EXECUTIVE BOARD
[Extract from the Statute of Eesti Pank (consolidated text, January 2011)]
§ 21. Executive Board
(1) The Executive Board manages the activities of Eesti Pank and reports to the Supervisory Board. The
Chairman of the Executive Board is by virtue of office the Governor of Eesti Pank. The Executive Board is
composed of the Governor and the Deputy Governors.
(2) The Executive Board shall organise the activities of Eesti Pank, secure co-operation between the
structural units of Eesti Pank, and make proposals to the Supervisory Board regarding decisions to be adopted
under the competence of the latter.
(3) (3) The Executive Board shall operate and adopt decisions pursuant to the rules of procedure
established by the Executive Board itself.
§ 22. Competence of the Executive Board
The Executive Board of Eesti Pank shall:
1) prepare and submit to the Supervisory Board documents and draft decisions for
adopting decisions under the competence of the Supervisory Board and for informing the Supervisory Board;
2) submit an overview of Eesti Pank's budget execution and the activities of Eesti Pank to the
Supervisory Board at least three times a year;
3) notify the Supervisory Board of relevant circumstances related to the activities of Eesti Pank;
4) prepare the Annual Accounts and activity report of Eesti Pank and submit these pursuant to law and
this Statute to the auditors for assessment and to the Supervisory Board for approval within four months of
the end of the financial year;
5) approve the statutes of the structural units of Eesti Pank as prescribed in Section 38 of this
Statute;
6) perform other functions necessary for fulfilling the objectives and tasks imposed on Eesti Pank by
law.
§ 23. Meetings of the Executive Board
(1) The meetings of the Executive Board shall be held as necessary and pursuant to the work schedule
of the Executive Board, but not less frequently than once a month.
(2) Executive Board meetings are convened by the Chairman of the Executive Board (the Governor). An
Executive Board meeting shall be convened if so requested by a member of the Executive Board or by the
Chairman of the Supervisory Board.
(3) The meetings of the Executive Board are held on the premises of Eesti Pank, unless otherwise
decided by the Chairman of the Executive Board (the Governor).
§ 24. Quorum of Executive Board Meetings
(1) An Executive Board meeting has a quorum if at least one half of the Executive Board members are
present, including the Chairman of the Executive Board (the Governor).
(2) Executive Board members shall participate in Executive Board meetings in person.
(3) If necessary, the Chairman of the Executive Board (the Governor) can invite employees of Eesti
Pank, the Chairman of the Supervisory Board, and other persons who are non-members of the Executive Board to
attend a meeting or a discussion of specific items on the agenda.
§ 25. Voting
(1) Each Executive Board member shall have one vote. Executive Board members shall not have the right
to abstain from voting or to remain undecided, except in the cases provided for in Subsection (3) of this
Section.
(2) The resolutions of the Executive Board shall be adopted by a majority vote. If the votes are
equally divided, the Chairman of the Executive Board (the Governor) shall have the deciding vote.
(3) An Executive Board member may not participate in voting in the cases provided by law where
participation in the adoption of decisions is prohibited, or if the commencement or termination of a court
action by Eesti Pank concerning the member is being decided.
(4) An Executive Board member has the right to request his/her dissenting opinion be recorded in
the minutes.
§ 26. Minutes of Executive Board Meetings
Executive Board meetings shall be recorded in the minutes pursuant to the provisions of the rules of
procedure of the Executive Board. The minutes shall be signed by the Chairman of the Executive Board (the
Governor) and by the person who took the minutes.
§ 27. Decisions of the Executive Board
(1) A decision of the Executive Board shall contain the name of the decision, the title and number of
the decision, the date on which the decision is made, and the contents of the decision. A decision which
amends or repeals a previous decision of the Executive Board shall also contain the title, date and number
of the decision which is amended or repealed.
(2) Executive Board decisions shall be signed by the Chairman of the Executive Board (the Governor).
|
