Andorra Telecom, SAU (the Company) was incorporated in the presence of a notary on 23 June 2015 and was registered in the Companies Registry in accordance with the provisions of Law 33/2014 of 27 November.
The Company is a government-owned company governed by applicable private civil and commercial law and keeps its accounts in accordance with Law 30/2007 of 20 December on company accounts, without prejudice to the financial control established in the General Law on Public Finance.
The Company’s tax reference number is A-710646-J and it is listed in the Trade and Industry Register with trade registration numbers 925270N and 925350F.
In accordance with the first transitional provision of Law 33/2014, once the Company was incorporated and all the assets and liabilities had been transferred to it, the government-owned entity Servei de Telecomunicacions d’Andorra (STA) was legally extinguished. On the date of its registration in the Companies Registry, the Company automatically and by law took over the functions previously assigned to STA under the legal provisions which said Law repealed and was subrogated to STA’s rights and obligations to third parties and employees.
Under article 1.2 of Law 33/2014, the Company has two clearly differentiated corporate purposes:
Under article 5 of Law 33/2014 the Company may carry out the activities that constitute its corporate purpose both in Andorra and abroad:
The Board of Directors approves the annual draft budget and actions plans and submits them to the General Meeting for approval. In accordance with the third additional provision (“Budget regime and financial control”) of Law 33/2014, the Company will carry on its business and financial operations and execute the budget approved by the General Meeting irrespective of whether the general government budget has been approved or not, unless the Company requires State funding to cover possible deficits. This does not affect the Company’s obligation to submit its operating, investment and financing plans so that they can be incorporated into the general State budget for information purposes, as established in article 12.2 of the General Law on Public Finances.