Code of Ethics
and  organizational Model 231

The Decree of 8 June 2001,  number 231, introduced for the first time in our legal system the regime of "administrative responsibility" to the companies. With regard to the issues introduced by the legislation, Terremerse has chosen to adopt the organizational Model 231, comprising of a set of rules, functional instruments and conducts to provide the Company with an effective organizational and management system capable of detecting and preventing significant criminal behavior  applied by the Company or persons subject to its direction and / or supervision. The adoption of the model, which is optional and not compulsive, provides, among other things, the opportunity to review, revise and integrate its decision-making processes and control systems, with a view to streamlining procedures and ensuring compliance with the law; allows to sisitise the all employees and stakeholders (customers, suppliers, partners, etc. ) that will be required, managing their activities, to correct and transparent behavior in line with the social-ethical values of Terremerse and such as to prevent the risk of committing crimes. From 20 December 2010 Terremerse has adopted and applied the "Code of Ethics", which contains the inspiring points of the cooperative business policy and constitutes the basis on which is set the preventive control system.
With this document, Terremerse wants to transmit the values ​​of honesty, loyalty, integrity and transparency as well as the core values ​​of cooperation, which must conduct all actions and behavior of anyone involved directly or indirectly in the activity of the Cooperative (customers, suppliers, partners , citizens, employees, collaborators, public institutions and anyone else interested in the activity of the company).   Terremerse has also established the Supervisory Board that will eusure the compliance with the model and the effectiveness of measures taken to prevent the commission of crimes identified in the Decree and to ensure proper management of the company.