Committee of Independent Directors with responsibility for Related Party Transactions

It expresses its prior opinion on major and minor related party transactions, in compliance with current legislation and the Procedure for Related Party Transactions implemented by the Company. The Committee also expresses its opinion on the adoption and revision of procedures on related party transactions.

The Committee of Independent Directors with responsibility for Related Party Transactions has been in place since 2010, pursuant of the Procedure for Related Party Transactions adopted by the Company ("RPT Procedure") by resolution of the Board of Directors which appoints its members.
 
Pursuant the related regulation and the RPT Procedure the Committee is composed of at least three directors, all of whom meet the independence requirements laid down in the Corporate Governance Code. The Committee elects a Chairman from among its members. The members of the Committee must be Non-Involved and Unrelated Directors with respect to the individual transactions being examined.  

Composition of the Committee

(1) Minority List Candidate

Role of the committee

The duties of the Committee are ruled by the applicable law enforced by the Consob Regulation on Related Party Transactions (Resolution 17221 of 12 March 2010, as amended) and by the RPT Procedure, as set out in its own Terms of Reference.

Committee activities

The Committee meets as often as necessary to carry out its tasks or whenever the Chairman deems it appropriate or at the request of one of its members.
During 2020, the Committee met seven times.

Rules of the Committee

The Committee has adopted its own Regulation, which governs the procedures for carrying out the activities entrusted to it. The Regulation was updated with effect from 1 July 2021 in order to incorporate the amendments made to the RPT Procedure and to the Consob Regulation on Related Party Transactions (Resolution 17221 of 12/03/2010, as amended).