Decree relative to Jointly Owned Forests ( No. 163 of 2003).

This Decree allows real estate owners to establish a jointly owned forest by concluding an agreement. The Decree prescribes a partnership shareholder’s meeting and an administrative board for the management of the partnership. This Decree provides for matters in respect of the first meeting of the shareholders, the election of the administrative board, the start-up of the partnership and minutes of meetings. A land survey office must notify the Forestry Centre of the entry of a jointly owned forest to the real estate register without delay. The Forestry Centre must convene the first meeting of the shareholders within three months from the date when the jointly owned forest is entered to the real estate register. The administrative board must ensure that the rules of procedure and forest plan of the partnership are drawn up without delay.