Organization, Management and Control Model pursuant to Legislative Decree no. 231/01

With the Legislative Decree 8 June 2001 n. 231 (Legislative Decree No. 231/2001) the regulation of the "liability of entities for administrative offenses dependent on crime" was laid down.

This regulation applies to entities with legal status and to companies and associations even without legal personality.

According to the regulation introduced by Legislative Decree no. 231/2001, the companies can be considered "responsible" for certain crimes (generally malicious, sometimes negligent) committed or attempted, in the interest or to the advantage of the companies themselves, by members of top management (the so-called "top management" subjects) and by those who are under the direction or supervision of the latter (the so-called "subordinates").

This extension of responsibility essentially aims at involving the assets of the companies in the punishment of certain crimes and, ultimately, the economic interests of the shareholders.

Fundamental aspect of Legislative Decree n. 231/2001 is the attribution of an extenuating value to the organization, management and control models of the company.

In the event of a crime committed by a person in a senior position, in fact, the company does not respond if it proves that (Article 6, paragraph 1, of Legislative Decree No. 231/2001):

• the governing body has adopted and effectively implemented, prior to the commission of the fact, organizational and management models suitable for preventing offenses of the kind that occurred

• the task of supervising the functioning and observance of the models and ensuring their updating was entrusted to a body of the company with independent powers of initiative and control

• people committed the crime by fraudulently evading the organization and management models

• there was no omission or insufficient supervision by the supervisory body.

On the other hand, in the case of an offense committed by a person subjected to the management or supervision of others, the company is liable if the commission of the offense was made possible by the violation of the management or supervisory obligations to which the company is bound (Article 7 of Legislative Decree No. 231/2001).

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