Società soggetta a direzione e coordinamento
English translation: subsidiary or controlled company
| 07:20 Jun 22, 2005 |
| Italian to English translations [PRO] Bus/Financial - Business/Commerce (general) | |||||||
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|  Selected response from: Kieran McCann United Kingdom Local time: 11:54 | ||||||
Grading comment
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| Summary of answers provided | ||||
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| 3 +2 | Company subject to direction and coordination |
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| 3 | subsidiary or controlled company |
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Answers
11 mins confidence: 
peer agreement (net): +2
peer agreement (net): +2Company subject to direction and coordination Explanation: A Group is not an autonomous legal entity. Direction of the companies in a Group may follow a common economic strategy but are distinct from each other as well as the Group. Each company is subject to the laws for the model under which it is incorporated. Parent company resolutions do not, therefore, directly affect subsidiaries or controlled companies even if intended for DIRECTION AND COORDINATION. Nevertheless, the group's interests can be pursued through acts, which may initially affect the interest of the subsidiary. The final result of the group's act, however, must eventually favor the individual subsidiary. Duties of Parent Companies Parent companies must disclose publicly financial information and other sensitive data regarding subsidiaries, controlled companies and affiliated entities. Parent companies are liable towards shareholders and creditors of their subsidiaries and controlled companies if such companies are mismanaged. Duties of Subsidiaries Subsidiaries and controlled companies must make public their links with the group's other companies and the parent company's powers of DIRECTION AND COORDINATION, as recorded at the Company Registry. They must also explain the reasoning behind any of their decisions derived from their dependence on a group. Shareholders of subsidiaries or controlled companies may withdraw from the company under specific circumstances. Reference: http://www.investinitaly.com/context_investmentguide01.jsp?I... |
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3 hrs confidence:
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