The name of the fund shall be the “Professor Niilo Ryti Fund”. The fund’s basic capital consists of donations made by the following private persons and companies in honour of Niilo Ryti’s 75th birthday on 8 September 1994: A.Ahlström Corporation, Enso-Gutzeit Oy, Oy Hercofinn Ab, Jensen Waldemar and Karin, The Finnish Pulp and Paper Research Institute, Kymmene Oy, Kyro Board & Paper Oy Ltd, Metsä-Botnia Oy Kemi mills, Metsä-Serla Corporation Central Administration, Myllykoski Oy, Nokian Paperi Oy, Jaakko Pöyry Oy, Sanoma Oy, Serlachius Gustaf, Sunds Defibrator Jylhä Oy, Sunila Oy, Paper Engineers’ Association, Tamfelt Oy Ab, Valmet Corporation, Veitsiluoto Oy and United Paper Mills Ltd.

NIILO RYTI FUND

RULES

§ 1
The purpose of the fund is to encourage higher level studies in paper technology by awarding a grant in recognition of doctoral theses of particular merit completed at the Laboratory of Paper Technology of Helsinki University of Technology.

§ 2
The fund’s assets shall consist of basic capital, donations made to the fund, and the proceeds accumulating on these funds.

§ 3
Responsibility for managing the fund shall rest with Paper Engineers’ Association.

§ 4
PI shall choose the recipient of the grant no more than once a year based on a proposal made by the professor of paper technology of Helsinki University of Technology.

§ 5
The fund’s assets shall be invested profitably, primarily in shares in banks or industrial companies or in securities issued or guaranteed by the Finnish state. The assets should be used in such a way that the real value of the basic capital does not diminish.

§ 6
Paper Engineers’ Association shall produce annual accounts of its management of the fund’s assets before the Association’s Annual General Meeting.

§ 7
These rules may be amended at the proposal of PI provided such a proposal is approved by ? of those attending two consecutive general meetings of Paper Engineers’ Association, separated by at least one month, the latter of which shall be the Annual General Meeting.

§ 8
In the event that Paper Engineers’ Association discontinues its activities, the assets available shall be used as decided by PI for purposes compliant with the goals of the fund.