Last update April 12, 2008

Tag Cloud Governance

"consiglio di amministrazione"

Corporate governance model

Since its establishment, Snam Rete Gas has had a governance model in line with international best practices. Transparency towards market and stakeholders enables Snam Rete Gas to be an european benchmark.

Corporate governance system

Corporate Governance, intended as the set of business management rules governing company management and control, is growing dramatically in importance especially in companies that invite the public to subscribe to issues of securities, therefore, in those companies where efficiency and effectiveness of the business management has a strong bearing on their market credibility.

Bylaws

It contains the main operational regulations for a company. Shareholders of Snam Rete Gas approved in 26 april 2007 the changes to the by-laws, also pursuant to Law no. 262/05 and Legislative decree no. 303/06 and introducing some dispositions set out in the Code of Conduct.

Board of directors

Under article 16 of the By-Laws, the Company’s management is entrusted to a Board of Directors consisting of between 5 and 9 Directors, as decided by the Shareholders' Meeting which appoints them.

Financial notices

Financial statements and consolidated financial statements as at 31st December 2007.

Minutes (ex art.2443 c.c.)

BoD minutes (italian version) - March 20, 2007.
BoD minutes (italian version) - September 18, 2006.
BoD minutes (italian version) - September 21, 2005 .

Board of directors’ committees

In order to efficiently perform its duties, the board has set up two internal committees: the remuneration committee and the internal audit committee.

Internal control system

Snam Rete Gas adopted an internal control system in line with the guidelines in the Code of Conduct for Listed Companies and with the reference best practices.

Administrative responsability (231)

Legislative decree no. 231 of 8 June 2001 introduced the concept of administrative liability for companies whereby they can be held liable, and therefore penalised, for certain offences committed or attempted in the interests of or to the advantage of the company by its directors or employees.

Procedure Market Abuse

Procedure concerning the identification of significant parties and the notification of information by them or their nominees, with regard to SNAM RETE GAS S.P.A. shares or other financial instruments connected thereto (“Internal dealing procedure”)

Transactions with related parties

Transactions undertaken by Snam Rete Gas with related parties, as defined by IAS 24.

Compensation

The Directors' fees are resolved by the Shareholders' Meeting.

Download PDF Annual Report (Budget governance)