The Board of Directors is conferred with the broadest powers to manage and represent the Company and focuses its activity on coordinating and overseeing the dissemination, implementation and monitoring of the policies, strategies and general guidelines of the Group in the parent companies of the energy businesses in Spain and in the other companies partly owned directly or indirectly by the Company. It considers those matters of particular significance for the Company and ensures compliance with the regulations on the separation of regulated activities in Spain, as set out in article 18 of its By-Laws [PDF]. Moreover, it entrusts the Company's ordinary management to the executive directors and senior managers, who disseminate, implement and oversee the effective application of the policies, strategies and guidelines established by the Board of Directors by the partly-owned subsidiaries in accordance with the Corporate Governance System. In addition, it has set up an Audit and Compliance Committee made up of a majority of independent directors. The professional and biographical profile of each director can be accessed from the above table. Its content is updated regularly.