Corporate Governance Report
II. SUPERVISION, MANAGEMENT
AND OVERSIGHT
II.1. SUPERVISION AND MANAGEMENT
II.1.1.
Within the limits established by law, and
except for the small size of the company,
the board of directors shall delegate the
daily management of the company and said
delegated powers shall be identified in the
Annual Report on Corporate Governance.
Adopted
Parte I
Numbers 15. 16. 17
of this Corporate
Governance
Report.
II.1.2.
The Board of Directors shall ensure
that the company acts in accordance with
its objectives and shall not delegate its
responsibilities as regards the following: i)
define the strategy and general policies of the
company; ii) define business structure of the
group; iii) decisions considered strategic due to
the amount, risk and particular characteristics
involved.
Adopted
Parte I
Numbers 21 to 29
of this Corporate
Governance
Report.
II.1.3.
The General and Audit Committee, in
addition to its supervisory duties supervision,
shall take full responsibility at corporate
governance level, whereby through the
statutory provision or by equivalent means,
shall enshrine the requirement for this body
to decide on the strategy and major policies of
the company, the definition of the corporate
structure of the group and the decisions that
shall be considered strategic due to the amount
of risk involved. This body shall also assess
compliance with the strategic plan and the
implementation of key policies of the company.
Not applicable
The corporate
governance model
adopted does not
include a General
Supervisory Board.
II.1.4.
Except for small-sized companies, the Board
of Directors and General and Audit committee,
depending on the model adopted, shall create the
necessary committees in order to:
a) Ensure a competent and independent
assessment of the performance of the
executive directors and its own overall
performance, as well as of others
committees;
b) Reflect on the system structure and
governance practices adopted, verify its
efficiency and propose to the competent
bodies, measures to be implemented with a
view to their improvement.
Not applicable
There are no
specialised
committees of the
Board of Directors.
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