The association’s purpose is to safeguard the interests of private businesses on Svalbard and to promote the development of the industry on Svalbard.

Svalbard Business Association shall be open to all companies and traders on Svalbard, within production, trade and services without limitation of industry.

The registration fee and membership fee, which must be differentiated between small and large companies, is set by the General Assembly. It is collected by the association’s treasurer and paid by 31 July. Anyone who has not paid the dues at the end of the year can be removed as a member by the board after notification of this has been given.

The annual meeting is the Svalbard Business Association’s highest authority. The annual meeting must be held each year by the end of March. The members are summoned in writing with at least 14 days’ notice. The notice must include the subject list, Annual Report. Accounts, Budget proposal, as well as the selection committee’s recommendation. An extraordinary annual meeting is held if the board so decides or at least 1/3 of the members demand a part.

All attending members who have paid their fees within due have the right to vote. Each member has 1st vote. The annual meeting elects the chairman. All matters are decided by a simple majority, with the exception of the matters mentioned in § 12 and § 13. In the event of a tie, the chairperson has a double vote.

The annual meeting shall deal with the following matters:

• The board’s annual report

• Audited accounts

• Determining the fees and budget for the next year

• Matters that the board or members wish to be presented

• Notification of such cases from the members is sent to the board by the end of February

• Election of Chairman

• Deputy Chairman

• Board member(s) instead of the outgoing one(s).

• Deputies

• 3. members of the election committee

• Accountant

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Elections take place in writing, unless the annual meeting decides otherwise in individual elections. The right to vote can only be exercised in person.

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The election committee consists of:

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3. members elected by the annual meeting. The election must be on a free basis and the members cannot sit on the board at the same time. The elections apply to the 3rd year, of which each year the member who has served the longest stands. They cannot be re-elected in the same annual meeting. The election committee proposes candidates for all elections.

Svalbard Business Association is led by a board of 5 people. Board members are elected for 2 years at a time, with 3rd deputy members. In the first year, 2nd board members must be up for election. The business structure must be reflected in the composition of the board. This assumes that the board members have their main residence in Svalbard.

The board manages the association’s affairs in accordance with the articles of association and resolutions at the annual meeting. The board makes binding decisions on the initiation of measures/projects in accordance with the association’s objectives.

The board must hold regular meetings. The board is convened when the chairman or at least 2 of the board’s members request it. A list of subjects must accompany the summons.

The board is capable of making decisions when at least 3 members are present. For a valid resolution, more than half of the votes cast are required. In the event of a tie, the chairman has a double vote. Minutes are kept of the board meetings.

The chairman signs on behalf of the association.

The board can set up committees for special industries or projects, which have the right to deal with their special interests and act in the way they see fit. However, the activity must be consistent with the association’s purpose, and the groups must only act externally through the association’s board. A recognized industry group elects its own board.

Changes to these articles of association can only be made by an annual meeting or an additional annual meeting.

Proposals to amend the articles of association must be submitted to the board 30 days before the annual meeting or additional annual meeting. Amendments to the articles of association require a two-thirds majority of the votes cast. It is assumed that at least 1/3 of the members are present.

Proposals for the dissolution of Svalbard Business Association are presented in the same way as changes to the articles of association, § 12a, but can only be decided at the following annual meeting. It is assumed that at least 1/3 of the members are present.

The allocation of Svalbard Business Association’s funds in the event of dissolution is decided by the annual meeting.