Members and management
An SIA member is a person who is entered in the participant register and who owns one or more parts in the company.
The part gives the participant the right to participate in the management of the company, the distribution of profits and the distribution of the property of the company in the event of liquidation of the company.
Board of Governors
The company's executive arm is the board, which chairs and represents the SIA.
The Management Board may consist of one or more members. All members of the board of directors are members of the company. The Chairperson of the Management Board, which shall organise the work of the Management Board, may be elected from among the members of the Manage
Members of the Management Board shall be appointed for an indefinite period, unless a specific term of office is specified in the statutes.
All members of the Management Board shall have the right of representation laid down in the statutes. Members of the Management Board may be granted separate or joint representation rights. When determining the right of representation, the principle that each member of the board has real rights of representation should be respected. For example, if there are two members of the Management Board, it is not possible to establish a separate and joint right of representation for one, since in this case the right of representation of the other member of the Management Board would only be formal and not realistic.
A member of the board of directors may not be a member of the council of that company, an auditor of that company and a member of the council of the group's governing company.
The Council shall be the supervisory body which supervises the functioning of the Management Board. The SIA council is optional.
If the Council is established, the Council may be composed of between 3 and 20 members, in accordance with the provisions of the articles of association. The Chairperson and the Deputy Chairperson may be appointed from among the members of the Council.
The Board shall be elected by the members for an indefinite period, unless otherwise specified in the articles of association.
The Council may not be composed of a person who is a member of the board of directors of that company, an auditor, a prosecutor or a commercial trustee, or a member of the board of directors of that company or a person entitled to represent that dependent company.
Only a person who has not been prohibited from taking such positions, as well as who is not included in the SRS risk list, may be appointed as a member of the board or council.