Annual report 2010

7 Internal documents of the joint-stock company contain theprocedure f or re gistering pa rticipants i n t he g eneralmeeting of shareholdersBoard of DirectorsComplianceCompany’s Board of Directors.Provided for in paragraph 7.1 of Article 7 ofthe Regulations f or t he Pr eparation a ndHolding Pr ocedure f or th e Gen eral M eetingof Shareholders of the Company.8 The a rticles o f a ssociation of th e j oint-stock c ompanyspecify the authority of the board of directors in relation tothe annual approval of the financial and economic plan ofthe joint-stock company9 The joint-stock company has a risk management procedureapproved by the board of directors10 The a rticles o f a ssociation of th e j oint-stock c ompanyspecify t he r ight of t he board of di rectors t o a dopt adecision t o su spend t he p owers of the director ge neralappointed by the general meeting of shareholders11 The articles of association of the joint-stock companyspecify the right of the board of directors to setrequirements applicable to qualifications and levels ofremuneration for the director general, members of themanagement board, and heads of main divisions of thejoint-stock companyComplianceSubparagraph 30 of paragraph 11.1 of Article11 of the Company’s Articles of Associationspecifies th at th e consolidated in come an dexpenditure b udget of t he C ompany i sreviewed.ComplianceThe B oard of Directors of t he C ompanydecided o n March 29 , 2010, to approve t heRisk Management Policy of the Company.Compliance In ac cordance wi th s ubparagraph 27 o fparagraph 11.1 of A rticle 11 of t heCompany’s Ar ticles of A ssociation, theelection ( appointment) o f th e Dir ectorGeneral of the Company and members of theManagement Board and the early terminationof their powers fall within the competence ofthe Board of Directors of the Company.ComplianceIn accordance with paragraph 12.5 of Article12 of the Company’s Articles of Association,the terms and conditions of the employmentcontract, including with respect to the term ofthe powers o f th e C ompany’s DirectorGeneral an d m embers o f th e C ompany’sManagement B oard, a re de fined b y t heChairman o f t he C ompany’s B oard ofDirectors or th e person au thorized b y t heCompany’s Board of D irectors t o sign t he