Obtaining approval from senior management for establishing business relationships should not imply obtaining approval from the board of directors but from the immediate higher level of the hierarchy of the person seeking such approval.
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New version applies from 20/03/2008 — introduced by Directive 2008/20/EC.
50 provisions change.
Later versions: 30/10/2009, 04/01/2011.
Recital 26 changes in this version: compare with the current text.