Management and Control Structure – Risk prevention system

On the 8th June 2001 Legislative Decree no 231 was introduced into the Italian legal system. This Decree establishes the direct liability of companies and other legal entities for crimes committed by directors, executives, their subordinates and other subjects, acting on behalf of the legal entity, in Italy or abroad, in the interest of, or to the benefit of, the company concerned. Geotec SpA’s Board of Directors on the 31/05/2013 approved the Organisation, Management and Control Model ex Legislative Decree 231/2001 (“231 Model”) and established a Supervisory Board / Compliance Committee headed by Mr. Vincenzo Tosques. Following its approval, the Model has been updated on a number of occasions, ultimately in September 2017.