Press Room

In a recent ruling, the Court of Cassation clarified the limits within which the director of a joint-stock company may proceed with the delegation of powers to persons who do not hold such a title, with the enunciation of the following principle of law "the director of a joint-stock company is not allowed to delegate to a third party powers which, by reason of the vastness of the object, the economic entity, the absence of precise prescriptions in advance, the absence of verification procedures during the term of office, make the delegate take over the management of the company and/or the power to carry out the operations necessary for the implementation of the corporate object, which are the sole responsibility of the directors".

Source: NT+ Diritto [Link]