# Commission Decision (EU) 2016/2057 of 2 May 2016 on the State aid and measures SA.29338 (2013/C-30) and SA.44910 (2016/N) in favour of HSH Nordbank AG (notified under document C(2016) 2689) (Only the German text is authentic) (Text with EEA relevance), Division 13

Extent: E+W+S+N.I.

[Assurances regarding corporate governance] The following applies in respect of OpCo's corporate governance:
(a) all members of the supervisory board must have the competences stipulated in the first sentence of Section 25d(2), phrase 1 of the German Banking Act (Kreditwesengesetz — KWG). Members are competent if they are reliable and have the expertise required to perform control functions, and to assess and monitor OpCo's business transactions.
(b) there may be no more than sixteen supervisory board members.
(c) at least half the seats allocated to the Länder of Hamburg and Schleswig-Holstein will be occupied by external experts.

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Source: https://www.legislation.gov.uk/eudn/2016/2057/annex/I/division/13 (the official version)
Page: https://openlegislation.uk/eu-decision-2016-2057/annex-I/division-13
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.