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Corporate Governance Report
0.3. Notwithstanding the preceding paragraph,
the Company may also proceed to an annual
evaluation since it will be based on the degree
of adoption of recommendations of groups
linked together by its theme.
The Board of Directors declares that the
corporate governance model adopted is suitable
to the proper internal and external functioning
of the Corporation. The Board of Directors
has a Executive Committee, composed by two
members, it convenes weekly and evaluates
the diverse affairs related with the corporate
managing of the society, also meeting regularly
with the non executive member, sharing relevant
RECOMMENDATIONS (Corp. Gov. Code)
COMPLIANCE
IV. CONFLICTS OF INTEREST
IV.1. RELATIONS WITH SHAREHOLDERS
IV.1.1. The company’s businesses with shareholders with a qualified
stake, or with entities with any relation with those shareholders shall
be performed in normal market conditions, as set forth in article
20th of the Securities Code..
Complied with See Chapter III
Point III.11
IV 1.2. The business of significant relevance with shareholders
of a qualified stake, or with entities with any relation to those
shareholders, shall be submitted to prior opinion of the Supervisory
Board, as set forth in article 20th of the Securities Code. This
body shall establish the necessary procedures and criteria for the
definition of the relevant level of significance of these businesses and
the further terms of their intervention.
Complied with See Chapter III
Point III.13
and detailed information over significant aspects
of corporation’s life. The annual Management
Report describes the performed non-Executive
member activity. The Board of Directors has no
commission specialist support. There’s no notice
of any kind of embarrassment or repair to the
functioning of the corporate governance, by
any corporate body, attended the accuracy and
frequency which this information is provided
to. Minutes of the Executive Committee and
Remuneration Committee are prepared.