luovutusvalta

Luovutusvalta, literally “power of disposal,” is a legal and governance concept used in Finland to describe the authority to dispose of or transfer property, assets, or rights on behalf of an organization. It designates who is empowered to make binding dispositional decisions and under what limits, and is typically defined by statutes, corporate by-laws, charters, procurement rules, or delegated through formal authorizations. The scope can include selling, leasing, pledging, licensing, transferring ownership, entering into contracts, or otherwise disposing of resources. The exact limits may depend on asset type, value thresholds, time frames, and the need for additional approvals, such as board consent or ministerial authorization.

In public administration, luovutusvalta is often established through law or internal regulations to enable managers to act within budget and policy frameworks, while maintaining controls to prevent improper transfers. In corporate governance, the concept clarifies which officers or units may commit funds or dispose of assets without further approvals. It is a key element of internal control and accountability; acting beyond one’s luovutusvalta can render a transaction invalid, expose the actor to liability, and shift risk to the organization.

Examples: a company's chief financial officer may have luovutusvalta to dispose of cash up to a defined limit; a municipality may authorize its procurement manager to sign contracts for supplies within the annual budget; larger property transactions require higher-level approval.