Control over major transactions and interested-party transactions
RusHydro has a transaction control system in place. RusHydro’s Regulations on Contracts and Agreements govern a common procedure for negotiating, concluding and executing contracts on behalf of the Company. Draft contracts are subject to review to ensure compliance with Russian laws.
Depending on transaction value, the review is done by legal departments of the Company’s branches or at the Company’s Headquarters.
For the list of interested-party transactions concluded by RusHydro in 2018, including the subject of the transaction, interested parties involved and approval details, see Appendix No.2 to the annual report. All the transactions requiring approval by the Company’s governing bodies were approved. Consequently, none of them involved conflict of interest.
In 2018, RusHydro made no major transactions.