executive committee

Law on the modification of the Code of companies

The law of 2 August 2002 provides in the creation of a legal management committee. Based on that law, the statutes of a public limited company may authorize the board of directors to delegate its powers to a legal management committee. The delegation, however, cannot relate to:

• the company's general policy;
• the control of the legal management committee;
• the powers granted specifically by law to the board of directors.