diff --git a/en/bylaws.md b/en/bylaws.md
index 9aee0fc..f632a78 100644
--- a/en/bylaws.md
+++ b/en/bylaws.md
@@ -212,7 +212,7 @@ d) Further details are specified by the election regulations.
 
 (3) The presidium can give all members, or single members of the board the power to single-handedly represent the board.
 
-(4) The presidium may, by means of individual instructions or rules of procedure, make business transactions require its prior consent or establish a discretionary limit for transactions to take place without required consent. The following transactions always require prior consent of the presidium, unless they have already been decided on in the business plan:
+(4) The presidium may, by means of individual instructions or rules of procedure, make business transactions require its prior consent or establish a discretionary limit for transactions to take place without required consent. The following transactions always require prior consent of the presidium, unless they have already been decided on in the financial plan:
   - acquisition, encumbrance and sale of real estate and equivalent rights;
   - foundation of and participation in companies or institutions under private law;
   - establishment and closure of branch offices.
@@ -220,8 +220,8 @@ d) Further details are specified by the election regulations.
 (5) The executive board may in particular:
   - lead the businesses of the association;
   - appoint, change and dismiss employment contracts after consultation with the presidium;
-  - provide the business plan for approval to the general assembly through the presidium
-  - provide changes to the current business plan to the presidium for approval
+  - provide the financial plan for approval to the general assembly through the presidium
+  - provide changes to the current financial plan to the presidium for approval
   - create and provide the annual accounts for discussion and approval to the general assembly through the presidium
   - regularly inform the presidium about all relevant circumstances and developments
   - inform the general assembly about its activities