Investigation into Suomen Hiihtourheilun Kannatussäätiö completed

The National Board of Patents and Registration (NBPR) has completed its investigation into the loans from the foundation Suomen Hiihtourheilun Kannatussäätiö to the Finnish Ski Association (Suomen Hiihtoliitto ry). Lending money from the foundation’s bank account to the association in order to maintain its liquidity violated both the foundation’s by-laws and the Finnish Foundations Act.

The investigation says, however, that the lending of money damaged neither the foundation nor the funds under its control where money also came from. The loans were repaid with interest in 2010.

The NBPR finds that the foundation should lay down rules of procedure for the purpose of improving the performance of its Board of Trustees, to prevent a situation like this from occurring again. The foundation must also elect a new Board of Trustees with a majority of members being neither Board members nor officials of the Finnish Ski Association. The composition of the new Board must be reported to the NBPR. The NBPR is of the opinion that the investigation does not call for further measures.

The documents relating to the investigation have become public, and are available from the NBPR Registry at Arkadiankatu 6 A, 00100 Helsinki,

tel. +358 9 6939 500 and email: kirjaamo(at)prh.fi.

For more information please contact Mr Olli Koikkalainen, Vice Director General, tel. +358 9 6939 5575, +358 40 505 3575