Since 2008 ANCP-NAPP has guided its whole activity towards the full implementation of the Principles of Good Governance as laid down in the Resolution of the Council of Ministers 49/2007 of 28th March, by adopting a Governance Model and defining strategic guidelines that led to the signing of Management Contracts with the State in which strategic goals and quantitative objectives are set for ANCP-NAPP’s Board members.

The Governance Model defined for ANCP-NAPP complies with the rules of segregation of duties for executive management and the supervisory board, whose identities, specific responsibilities, remuneration and other benefits are disclosed publicly. The identity, responsibilities and a short biography of all members of the Governing Bodies of ANCP-NAPP, as well as all historical financial information and the Governance Model are also published on ANCP-NAPP’s website.

In April 2008, ANCP-NAPP’s Strategic Guidelines for 2008-2010 were approved by the Secretary of State for Treasury and Finance (SETF), by Dispatch 347/08-SETF of 17th April, where the Mission, Vision and its implementation strategy are defined. Based on principles of good governance, the actions of ANCP-NAPP are intended to efficiently achieve the strategic objectives and milestones.

The ANCP-NAPP’s annual plan and budget are submitted for approval of the SETF, following the endorsement of the Statutory Auditor.

Throughout the year, ANCP-NAPP evaluates the achievement of objectives and milestones and monitors the implementation of the approved Annual Plan and Budget. Progress reports are submitted to the Directorate General for Treasury and Finance (DGTF), the General Finance Inspectorate (IGF) and the Statutory Auditor, through Quarterly Budget Execution Reports.

All information regarding Corporate Governance is also published on the website of the State-Owned Companies Sector (http://www.dgtf.pt/sector-empresarial-do-estado-see).

To prevent possible conflicts of interest, all expenses incurred by a member of the Board of Directors must be approved by another member of the Board.

In short, ANCP-NAPP continues to fully comply with the Resolution of the Council of Ministers 49/2007 of 28th March concerning the compliance of State-Owned companies with the Principles of Good Governance.