Fiscal Council’s Competences

It is incumbent upon the Fiscal Council, without detriment to other attributions granted to it by virtue of legal provision:
Supervise, through any of its members, the actions of administrators and verify the compliance with their legal and statutory duties;
Provide an opinion on the annual management report, said opinion shall include any additional information deemed necessary or useful for the general Meeting to make decisions;
Issue an opinion on management’s proposals due to be submitted to the General Meeting regarding any changes to share capital, issuance of debentures or subscription bonus, investment plans or capital budget, dividend distribution, transformation, merger or spin-off;
Denounce, through any of its members, to management offices and, if the management fails to take the necessary steps to protect Company’s interests, to the General Meeting, any errors, frauds or crimes detected, and suggest the measures to be taken to the benefit of the Company;
Convene the Annual General Meeting if the administrators delay the call of meeting for more than one month, and convene an Extraordinary Meeting whenever there is a grave or urgent reason, making sure to include in the Agenda of such meetings any matters deemed necessary;
Review, at least on a quarterly basis, the financial statements prepared periodically by the Executive Office;
Review the Annual Financial Statements and issue opinion on said statements;
Carry out these duties during company’s wind-up.
Perform the annual self-assessment of its performance.