The engineering consultants Jaakko Pöyry & Co Oy have set up a memorial fund to honour the memory of two of their employees, Samuli Alperi and Eero Tulppala, both engineering graduates, who were killed in an air crash on 22 December 1971 and Kaj Skogberg who was killed on 20 November 1974 in an air crash. The fund’s basic capital derives from a donation made by Jaakko Pöyry & Co Oy at the time the fund was set up, together with donations from companies and private persons made in memory of Samuli Alperi, Eero Tulppala and Kaj Skogberg.

On 25 March 1975, Paper Engineers’ Association and the engineering consultants Jaakko Pöyry & Co Oy approved the following rules for the memorial fund. On 26 October 1998, Paper Engineers’ Association and the engineering consultants Jaakko Pöyry & Co Oy approved amendments to the rules of the fund.
The memorial fund was combined to the PI fund on 10 November 2000.

RESEARCH GRANT

RULES

§ 1 
The name of the fund shall be the Jaakko Pöyry Group Fund. The fund was set up to honour the memory of those persons who made major contributions through their work and who lost their lives while in the company’s employ.

§ 2 
The purpose of the memorial fund is to encourage research and development work in the wood-processing industry (forest, energy and environment) leading to the creation of new processes and manufacturing methods. Awards from the fund shall be made primarily to young graduate engineers working in the industry. Applications may also be made to the fund for purposes of further study. Grants from the fund shall be made every three years in autumn meeting of PI. The sum of the grant is max. 5000 € depending on the expences.

§ 3 
At 17 March 1972, the fund’s basic capital was 1972 6062,00(36,043.04 Finnish markka).

§ 4 
The fund’s assets comprise the fund’s basic capital, donations made to the fund and the returns accumulating on these funds.

§ 5 
Management of the fund shall be the responsibility of Paper Engineers’ Association. Meetings of the Association’s Executive Committee at which the memorial fund is discussed shall be attended by a representative authorized by the Jaakko Pöyry Group, such representative to have the same voting rights as a member of the Executive Committee. The extended Executive Committee shall decide on the grants to be awarded, the way they are to be distributed, how the fund’s assets shall be invested, and any amendments to be made to these rules. The Executive Committee shall keep a list of all those persons in whose memory the fund was established. Deeds of donation and cards sold for fund-raising purposes shall bear the names of the persons whose memory is being honoured.

§ 6 
The fund’s assets shall be invested so as to bring a return on investment while at the same time maintaining their real value.

§ 7  
Paper Engineers’ Association shall produce annual accounts on the management of the fund’s assets showing the amount of capital at the start of the year, income, expenditure and the distribution of assets in pursuit of the fund’s purpose during the year, and the amount of capital at the end of the year. The accounts shall be audited by the auditors who audit Paper Engineers’ Association’s other funds. The accounts shall be prepared and audited by the end of March the following year.

§ 8 
In the event that Paper Engineers’ Association or Jaakko Pöyry Group Oyj discontinues its activities, the extended Executive Committee mentioned in § 5 shall decide on how the fund’s assets shall be used in pursuit of the purposes specified in § 2.

*) Amended to this form at the meeting of Paper Engineers’ Association on 26 October 1998.