Regulations governing institutional activities
1. The programmes, defined according to the criteria specified in article 3, are identified by the Consiglio Generale. The general criteria for monitoring, reporting and evaluation must be defined at the same time as the approval of the programme itself. The Management Committee, within the framework of defining the operating details of the programmes, for which it is responsible, may specify such forms and indicate additional measures.
2. The decision-making powers regarding the implementation of the programmes, payments in support of projects, membership or the setting-up of instrumental organisations (excluding the control situations specified in the following sub-section), payments for institutional support and any other measure regarding the administration of the Compagnia's institutional activities shall be of the Management Committee, in keeping with the planning guidelines adopted by the Consiglio Generale.
3. The setting-up or membership of instrumental organisations or the acquisition of stakes in bodies or companies as specified in article 4, sub-section 1, letters b) and c), where this entails control by the Compagnia, shall be decided by the Consiglio Generale on the proposal of the Management Committee. To this purpose the following are considered "control situations":
a) for what concerns companies, those mentioned in article 6 of law n. 153 of 17 May 1999;
b) as far as bodies are concerned, those in which the Compagnia appoints at least half the members of the board of directors of the body or company in question; contributes to the endowment fund or subscribes the share capital for not less than the majority of the overall amount in the hypothesis of the setting-up or membership of a body or company; assures support to the institutional activity with an annual commitment to be borne by the Compagnia of not less than half the annual overall amount of the year's budget of the body in question.
4. The Compagnia's Consiglio Generale defines, as a rule on the proposal of the Management Committee, with a specific Atto di regolazione, the necessary phases of strategic, organisational and financial liaison between he Compagnia and the instrumental organisations, defined in article 4, sub-section 1, letter b), in any case safeguarding autonomy, with particular reference to the activity of the latter.
5. In order to ensure adequate liaison criteria between the Compagnia's planning guidelines and the activity of the bodies in which it has the power of appointing representatives or nominating directors, or equivalent offices, the Management Committee defines the criteria for the periodical reporting which the above-mentioned appointed or nominated officers must respect vis-à-vis the Management Committee.
6. According to the provisions of article 13, sub-section 2, of the Compagnia's Articles of Association, the Management Committee may delegate, also in general terms, to the Chairman the decisional powers regarding expenditure and payments in the main sectors. Periodically he must report to the Management Committee on the exercise of such powers.
7. The Management Committee may confer powers on the Secretary-General for what concerns payments under a determined threshold, specifying a ceiling (expressed in absolute or percentage values) on the resources for each sector that may be used following this procedure. Payments made in this way are brought to the attention of the Management Committee in its next meeting.
8. The Compagnia shall verify the in itinere and ex post coherence of the results against the pre-established objectives for the projects and initiatives it has supported, also with the aid of the technical and scientific experts envisaged by the Articles of Association, mentioned in the following article. To this aim, alongside the ordinary activity of the offices oriented to this purpose (especially in reference to in itinere evaluation), the Consiglio Generale shall define, as a rule on the proposal of the Management Committee, with a specific Atto di regolazione, the duties of the governing bodies, the offices and the consultants, and the criteria for performing the final evaluation.
