ANNUAL REPORT 2016
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
Part I
Numbers 15. 16.
17 of this Corpo-
rate 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
Part 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.
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