UEMS accounts managed by uems sections Requirements, rules, organization Sections & boards plenary meeting UEMS COUNCIL, UEMS BOARD brussels, 20- 21th april 2012

Legal status UEMS = AISBL based in Belgium and registered under Belgian Law (Loi de 27 Juin 1921 sur les associations sans but lucratif, les associations internationales sans but lucratif et les fondations) Large organization = > 250000 EUR revenue/year, >1 mln. EUR total balance sheet Activity must conform to registered Statutes For legal and fiscal purposes: UEMS is a single legal entity it is represented by President and Secretary General (only)

UEMS Statutes Article XIII. Representation of the association vis-à-vis third persons or in Court All acts concerning the UEMS are, except for specific proxies, signed by the President and the Secretary General or, in his absence, by two designated members of the Enlarged Executive. The UEMS is validly represented in Court, either by request or in defence, by its President or its Secretary General.

Legal obligations Accounting – all UEMS transactions (double entry) Reporting - Belgian National Bank, annually Liability – organization can be held liable for:

Liability Art. 55 La dissolution peut être prononcée, à la requête du ministère public ou de tout intéressé, dans les cas suivants: 1° emploi des capitaux ou des revenus de l’association internationale sans but lucratif à un but autre que ceux en vue desquels elle a été constituée; 2° insolvabilité; 3° absence d’administration; 4° contravention grave aux statuts, ou contravention à la loi ou à l’ordre public.

What should uems do All UEMS financial transactions have to be compliant with Belgian Law regulations UEMS has to report all its financial transactions

taxation UEMS objectives are: - The study, promotion and harmonisation of the highest level of training of the medical specialists, medical practice and health care within the European Union - The representation of the medical specialist profession The defence of the professional interests of European Medical Specialists and as such enjoy tax exemption. This applies equally to activities of UEMS structures.

TBD Effects of changed interpretation of Belgian law on VAT. VAT identity for construction and running of the UEMS House. TVA Office verdict on taxation. Membership fees for Sections Shifting funds to UEMS accounts

What Uems should do UEMS internal structures (Sections, MJCs, Boards) have to: use official UEMS accounts take care that these operations are properly documented present quarterly report of their financial operations on these accounts to UEMS Office UEMS Office has to aggregate all financial transactions on all accounts into UEMS annual report

Expenses All expenses have to be documented: invoices from external contractors/vendors proof of payment (tickets etc.) short explanation of the activity financed

Revenues Members’ contributions European examinations Other income Each income has to be covered with invoice issued by UEMS Office Internal UEMS transactions (like EACCME fees paid to UEMS Sections) do not require invoices

Daily management Section should designate 1-2 persons who will manage the account (1 or more accounts, as required by Section) Authorised persons: can run the account via internet or telephone should comply with the rules and procedures governing management of UEMS accounts will obtain authorization for the period of their mandate in a Section

Use of sections’ funds Legally and for fiscal authorities UEMS President and Secretary General are the only persons liable for proper management of ALL UEMS accounts. This responsibility cannot be transferred to other persons. This responsibility involves being assured that these accounts are being used in a lawful manner.

Use of sections’ funds UEMS Executive will provide each Section with a written statement that it will not use Section’s funds and will not interfere with account management unless it finds out that the management is not in accordance with legal and accounting requirements.

Financial statement UEMS yearly financial statement will have to include total of all its financial operations (including those by Sections, MJCs and Boards). Further legal advice is being sought as regards the extent to which UEMS financial statements (including Sections’) must be made public.

Summary UEMS as large AISBL has to report all its financial activities to Belgian Authorities. These reports must include financial activity of ALL UEMS structures. UEMS accounts managed by Sections will NOT be used for other purposes than those of Sections Internal transfers of funds between accounts managed by UEMS structures do not need to be reported.

Questions to S&B groupings How many accounts will each Section need? What are sources of revenue for Sections (categories)? Which entities pay section membership fees? Are there accounts located outside Brussels that had been opened on behalf of the UEMS? Whom would you like to designate as manager of your account?

Thank you for your attention