Pursuant to the Italian provision on the “administrative liability of legal entities deriving from offences” contained in Legislative Decree no. 231 of June 8, 2001 (hereinafter, “Legislative Decree no. 231 of 2001”), legal entities – including limited companies – may be held liable, and consequently subject to money penalties and/or interdiction, for any offences committed or any attempts to commit offences – in Italy or abroad – in the interest or to the advantage of the company itself.
However, companies may adopt organizational, management and control models designed to prevent these offences; the principles of these models can be based on the guidelines drawn up by Confindustria (Italian Manufacturing Companies Association).
In this regard the Board of Directors of Selcom Group S.p.A approved for the first time the organizational, management and control Model pursuant to Legislative Decree no. 231 of 2001 “Selcom Group Code of Ethics”.