Organizational Model
under Italian Law-Decree 231/2001
Legislative Decree no. 231/01 regulates the administrative liability of legal entities and associations.
Therefore, on the basis of Legislative Decree no. 231/01, companies can be held criminally liable for the offenses provided for in Articles 24 and 25 of Legislative Decree no. 231/01, whether committed or attempted, in Italy or abroad, if they are committed in the interest or to the advantage of the company by top management or persons subject to the direction of others.
Article 6 of Legislative Decree no. 231/01 provides an exemption from administrative liability for the entity if the latter proves that:
- an Organization, Management and Control Model was adopted and effectively implemented before the act was committed;
- a Supervisory Board has been appointed with autonomous powers of initiative and control, with the task of supervising the observance and functioning of the Organizational Model;
- there has been a fraudulent circumvention of the Organizational Model by the active parties to the crime (top management or persons subject to the management or supervision of the aforementioned).
Therefore, the Organizational Model is deemed a suitable tool to eliminate or reduce the risk of commission of the crimes indicated in the aforementioned Decree. Based on the foregoing, Morrow Sodali, on March 22, 2019, adopted its own Organization, Management and Control Model.
Furthermore, in compliance with the provisions of the Decree and the Organizational Model 231/01, Morrow Sodali also has a Supervisory Board, which is entrusted with the tasks of supervising the effectiveness and observance of the Model and its widespread and effective implementation and of preparing proposals for updates, additions, corrections or changes where the need to adapt it to changing business and regulatory conditions emerges.
Any non-compliance with the 231 Organizational Model can be reported through the e-mail address odv@sodali.com.
