121
ANNUAL REPORT AND CONSOLIDATED ACCOUNTS 2013
E. RELATED PARTY TRANSACTIONS
I. Control procedures and mechanisms
89. Mechanisms implemented by the Company
for purposes of monitoring of transactions with
related parties (for this purpose refers to the
concept resulting from IAS 24).
The Audit Committee has approved the criterion for
deciding when transactions between the Company and
holders of qualified shareholdings or entities related to
them, within the terms of art. 20 of the Securities Code,
require prior assessment. The criterion has been defi-
ned as a transaction value equal to five per cent or more
of the consolidated net assets of Ibersol SGPS, SA.
90. Statement of the transactions that were subject
to control in the reference year
No businesses or transactions were entered into that
required such prior assessment.
91. Description of the procedures and criteria for
intervention by the Authority for the purpose of
preliminary assessment of the business carried out
between the Company and holders of qualifying
holdings or entities that are in a relationship with
them, under Article 20. of CVM.
The Audit Committee was not required to issue any opi-
nion in 2013, given no liability transactions were ente-
red into that required its opinion.
II. Elements related to transactions
92. Location where the finantial statements
and the information about transactions with
subsidiaries can be found (in accordance of IAS 24).
Information on transactions with related parties is pro-
vided in Note 25 of the Annex to the individual financial
statements and Note 34 of the Annex to the consolida-
ted financial statements.
