Cova Information

The Minister of Economic Affairs and Climate Policy bears the ultimate responsibility for COVA and determines its articles of association and rules of procedure. Its Board is appointed by the Minister and consists of three members. The Board appoints a Managing Director. The Managing Director is responsible for COVA's day-to-day management and for implementing the policies approved by the Board. This structure guarantees COVA's independent position in the Dutch oil market. COVA has a team of staff members working in the areas of Strategy, Operations, Stock Accounts, Finance, Control, IT, Knowledge Management and Secretarial Support. Each year, the Board submits the budget, the annual report and the annual accounts to the Minister for approval. COVA is funded from the stockholding levy imposed on end users of transport fuels. COVA must comply with the Senior Executives in the Public and Semi-Public Sector (Standards for Remuneration) Act (WNT) and is exempt from corporate income tax. The Minister has designated COVA as an Operator of Essential Services in the context of the Network and Information Systems Security Act (Wbni). Laws and regulations