According to the Regulation on the Anti-Corruption Policy of JSC INTECO, the Company takes a zero-tolerance approach to corruption in its day-to-day operations, strategic projects and relationships with authorities, public officials, customers, counterparties, and other third parties.

The Company’s management and employees may not directly or indirectly make payments or provide services, offer or give bribes to anyone in any form to facilitate administrative, bureaucratic, or other formalities. Nor does the Company finance charitable or sponsorship projects to gain a business advantage or to influence decisions of government officials, public organisations or others. INTECO does not finance political parties or movements or individual politicians to gain a business advantage. Presenting and accepting business gifts is subject to strict regulations to ensure they do not influence decisions of officers of the Company, counterparties or government agencies.

When selecting contractors as part of its day-to-day operations, the Company checks their business reputation and whether they comply with anti-corruption requirements and have any potential conflicts of interest. All contracts entered by the Company comply with the Anti-Corruption Policy. All employees must be familiarised with INTECO’s Anti-Corruption Policy. The Company has strict requirements for management and candidates for managerial positions to make sure they are not involved in corruption and meet the requirements for business reputation.

To learn of possible cases of corruption, the Company operates a Trust Line and a digital service for reporting to the Security Department that are available to every employee. In 2020, the Company registered no significant violations of the Anti-Corruption Policy or the Code of Ethics.


Early identification of conflicts of interest is key to preventing corruption and other wrongdoing at INTECO. A conflict of interest is a situation where an employee’s personal (direct or indirect) interest may affect the performance of their job duties or which may give rise to a conflict between the employee’s personal interest and the Company’s legitimate interests.

The ways to resolve a conflict of interest and the procedure to be followed when one has been identified are described in INTECO’s Regulation on Conflicts of Interest.

Employees are required to disclose their conflicts of interest when they are hired, appointed to a new position or immediately after such conflicts arise. Following an investigation of a conflict of interest, a decision is made to resolve it in one of the following ways:

  • Restricting the employee’s access to information that may pertain to their personal interests
  • The employee’s refraining from taking part in or removal from discussions and making decisions which may be affected by the conflict
  • Reassigning duties to other employees to eliminate the conflict
  • Transferring the employee to another position, subject to their consent
  • The employee’s vesting the assets causing the conflict in a trustee
  • The employee’s relinquishing their personal interest giving rise to the conflict with the interests of the Company
  • Terminating employment at the initiative of the employee or by mutual agreement of the parties, and other measures

The Company registered no conflicts of interest in 2020.


Compliance control is exercised through constant monitoring of the Company’s conformity to the requirements of applicable laws and regulations. It is governed by INTECO’s Regulation on Compliance Control.

According to this Regulation, the compliance management framework, or CMF, is a set of elements of the corporate culture, values, ethics, organisational structure, rules and procedures of the Company ensuring conformity to the compliance principles.

The Company’s compliance activities cover the following main areas:

  • Anti-Corruption
  • Construction
  • Finances and taxes
  • The environment
  • Conflict of interest management
  • Gifts, charity, and hospitality expenses
  • Procurement
  • Information policy and personal data protection
  • Labour relations
  • Occupational health and safety

The President of INTECO is in charge of the overall management of the compliance framework. The Internal Control Division, whose employees develop and update a compliance risk matrix for all activities, is in charge of the compliance control objectives. The Company’s compliance function is directly supervised by the Vice President for Internal Control (compliance manager).