Annual report 2010

18 Internal documents of the joint-stock company specify thatmembers of the board of directors are obligated not to doany a cts t hat wil l o r may l ead to a c onflict of i nterestbetween them and th e joint-stock company and, if anyconflict o f in terest ar ises, ar e o bligated to d iscloseinformation about the c onflict of in terest to th e b oard ofdirectors19 Internal documents of the joint-stock company specify thatmembers o f t he bo ard of d irectors are ob ligated to notifythe board of directors in writing of their intention to enterinto t ransactions i nvolving s ecurities of the joint-stockcompany on w hose boa rd of di rectors t hey se rve or i tssubsidiaries or d ependent co mpanies an d ar e o bligated todisclose i nformation a bout t heir co mpleted tr ansactionsinvolving such securities20 Internal documents of the joint-stock company specify thatthe board of directors holds meetings at least once every sixweeks21 The board of d irectors of the joint-stock c ompany h oldsmeetings within the year for which the joint-stock companyprepares its annual report at least once every six weeksComplianceProvided f or i n sub paragraph 4.1.6. ofparagraph 4.1 of Article 4 of the Company’sCorporate Governance Code.Partial compliance In accordance with paragraph 4.1 of Article 4of the Regulations for Insider Information ofthe C ompany m embers of t he B oard ofDirectors of the Company, m embers of theCompany’s collegial e xecutive m anagementbody and the person performing the functionsof the sole executive body, including t hemanagement c ompany a nd i ts o fficers, a reobligated t o provide t he division r eceivingwritten declarations about co mpletedtransactions with information concerning theholding of the Company’s securities.Partial complianceImplemented.In accordance with paragraph 5.1 of Article5 of the Regulations for the Convening andHolding P rocedure fo r Meetings of t heBoard of Directors o f t he C ompany,meetings of the Board of Directors are heldin accordance with the approved Action Planfor the Board of Directors and as and whennecessary, but at least once a quarter.ComplianceIn t he re porting ye ar 20 10, the B oard ofDirectors of th e Company h eld m eetings atleast o nce ev ery s ix w eeks (a total of 2 5meetings were held).