Regulatory information
As a state-owned mercantile company, Navantia, S.A., S.M.E. is governed by Law 40/2015, of 1 October, on the Legal System of the Public Sector, by the State Administration’s Asset Law (Law 33/2003, of 3 November, on the Assets of Public Administrations) and by private law, in particular by Royal Legislative Decree 1/2010, of 2 July, approving the revised text of the Capital Companies Act (hereinafter, the "LSC"), except in matters where budgetary, accounting, personnel, economic and financial control and procurement regulations apply.
Consequently, Navantia is also subject to the Organic Law of the Court of Audit (Organic Law 2/1982, of 12 May, on the Court of Audit), the General Budgetary Law (Law 47/2003, of 26 November, the General Budgetary Law), the Public Sector Contracts Law (Law 9/2017, of 8 November, transposing into Spanish law the European Parliament and Council Directives 2014/23/EU and 2014/24/EU of 26 February 2014) and the Law on Transparency, Access to Public Information and Good Governance (Law 19/2013, of 9 December).
In addition, and in accordance with Article 321 and related provisions of the aforementioned Public Sector Contracts Law, Navantia has approved “internal procurement rules” (Navantia, S.A., S.M.E. Internal Procurement Rules) in order to ensure that award procedures in which the company acts as contracting entity comply with the principles of publicity, competition, transparency, confidentiality, equality and non-discrimination, and that contracts are awarded to the best bidder.
Finally, due to its activity in developing naval defence programmes, its strategic nature and its role in safeguarding national security, Navantia is subject to Law 9/1968, of 5 April, on Official Secrets.