Commissary of accounts Companies incorporated under the jurisdiction of the Dominican Republic, include within their supervisory structure the position of commissar of accounts. In the case of the AES Dominicana enterprises, this position is incorporated in the Itabo By-Laws. According to the General Law on Companies and Individual Enterprises with Limited Liability No. 479-08 and Article 76 of the new Implementing Regulation of the Stock Market Law, which establishes the functions of the commissar, the latter will perform his functions permanently in the partnership or corporation, during the period for which he has been designated. It must be independent with regard to the members of the Board of Administration of the partnership, and of the companies linked to same, and in addition to the powers attributed to him by the Law on Corporations, he will have the following rights, duties, and powers: a) To inspect the administration of the company, for which effect he may examine its books and documents, and have access to all information and documentation he deems necessary for fulfillment of his obligations. b) Convene at any time the board of administration of the company, as well as the General Shareholders´ Assembly, when there is no board of administration. c) Supervise the functioning of the internal control and administrative-accounting systems, as well as the reliability of the latter and all financial information or relevant facts that must be sent to the Superintendence and to the bourse or stock market where the company is registered. d) Review the application of the company´s risk management policies. e) Provide an opinion on compliance with legal requirements and the rationality of conditions for the issuing of stock and securities representing debt. f) Verify compliance with the mechanisms for implementation of the company´s standards of conduct. g) Verify availabilities and publicly traded securities, as well as obligations and their compliance.
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