IBERSOL | Annual Report 2020

CORPORATE GOVERNANCE REPORT III.6. The supervisory body, in observance of the powers conferred to it by law, should assess and give its opinion on the strategic lines and the risk policy prior to its final approval by the manage- ment body. Adopted 24 and 38 III.7. Companies should have specialised com- mittees, separately or cumulatively, on matters related to corporate governance, appointments, and performance assessment. In the event that the remuneration committee provided for in arti- cle 399 of the Commercial Companies Code has been created and should this not be prohibited by law, this recommendation may be fulfilled by conferring competence on such committee in the aforementioned matters. Partially adopted 24, 66, 69 and following Chapter IV EXECUTIVE MANAGEMENT Recommendation Degree of Compliance Corporate Governance Report IV.1. The managing body should approve, by in- ternal regulation or equivalent, the rules regard- ing the action of the executive directors applica- ble to their performance of executive functions in entities outside of the group Adopted 22,27 and 61 IV.2. The managing body should ensure that the company acts consistently with its objects and does not delegate powers, namely, in what re- gards: i)the definition of the strategy and main policies of the company; ii)the organisation and coordination of the business structure; iii)mat- ters that should be considered strategic in virtue of the amounts involved, the risk, or special char- acteristics. Adopted 21, 24, 27 and 29 274