The Bylaws define the main characteristics and purpose of the Company, as well as the primary rules for its organization and management. They describe the system of governance and set out the criteria adopted for the composition and division of powers attributed to the Corporate bodies and the relationship between those bodies.
More specifically, by supplementing the provisions of law, the Bylaws define the criteria and procedures for identifying the persons who contribute, at the highest level, to the management and control of the Company.
The Bylaws also describe the rights of shareholders, the means for exercising such rights and their possible modification by means of a resolution of the Extraordinary Shareholders' Meeting. However, when amendments to the Bylaws involve updating its language in order to comply with legislative changes, the Board of Directors may make such changes by direct resolution.