IBERSOL | Integrated Management Report 2022

INTEGRATED MANAGEMENT REPORT 2022 III.5. The provisions of paragraph (i) of recom- mendation III.4 does not inhibit the qualification of a new director as independent if, between the termination of his/her functions in any of the company’s bodies and the new appointment, a period of 3 years has elapsed ( cooling-off pe- riod ). Not applicable 17 and 18 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, 38 and 51 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 and Annex I to this Report 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 61 345