Governance Code & Governance Model
Buma / Stemra represents two bodies: Vereniging Buma (Foundation) and Stichting Stemra (Association). The authorities each have their own rules and regulations and management. They also have separate tasks: Vereniging Buma represents the interests of copyright holders in the field of music copyright. Stichting Stemra represents their interests when it comes to mechanical reproduction rights. Buma / Stemra has one and the same management and for efficiency reasons the boards of the Foundation and the Association meet at the same time.
General Members Meeting
The General Members Meeting is the highest body of Buma / Stemra. The General Members Meeting appoints and dismisses directors, adopts the annual accounts and decides on amendments to the Articles of Association. The management board and the Supervisory Board are accountable to the General Members’ Meeting.
The Supervisory Board supervises the policy of the Board and the general affairs. It also has a power of approval for important decisions and the policy plan with accompanying budget. In any case, the Supervisory Board supervises:
- Decision making within the management meeting
- The realization of the objectives
- The strategy and main risks
- The results of assessments of internal risk management and control systems
- Compliance with laws and regulations
- Preparing the annual accounts and preparing the annual budget
- In addition, the SB can draw up committees, including an audit committee. This includes supervision of the administrative organization and proper functioning of processes and systems.
Council of Members
The Council of Members advises the Board and the Supervisory Board. In addition, the Council of Rightholders prepares the decision-making at the General Members’ Meeting.
The strategic policy is drawn up by the board. Then it goes to the Supervisory Board for approval. The board receives the administrative and operational roles of the current board and the current board and is responsible for the ins and outs of the company. Board members are appointed by the general members meeting and are accountable to the members’ meeting and the new Supervisory Board. The new board works according to the collegial model of decision making and strives for consensus.