Supervision of unemployment funds
The authority responsible for supervising the unemployment fund is the Financial Supervisory Authority.
Government decisions and changes to the law
If the laws or decrees on benefits paid by the fund or Unemployment Funds Act and Degree, or other legislation that has effect on the fund’s actions are changed, the fund’s Board shall have the right to make changes to these rules.
If changes need to be made to these rules in cases other than that mentioned in paragraph 1 or the fund needs to cease operations in cases other than that mentioned in section 13, paragraph 4, a decision on the matter must be taken at a meeting of the fund with a qualified majority of at least two thirds of the votes.
Surrender of assets if the fund ceases operations
If it has been decided that the fund’s operations should cease or be suspended, the assets remaining when its debts have been paid off and other commitments have been fulfilled, shall be surrendered to be used for training courses for members in the form of study grants. For this, a trust or fund for any existing trust for this purpose would have to be set up, whose rules would be determined at the meeting of the fund that decides to cease operations.
Other applicable provisions
Otherwise, the existing provisions in the Unemployment Funds Act and Decree and other provisions laid down for the fund’s business sector shall apply.