Law 21,025, enacted on July 27, 2017, and effective as of December 1, 2017, amends the Corporate Governance of ENAP and provides a clear governance system to the company, establishing the roles of decision, supervision, and execution of the company's decisions. This reduces the number of directors from 8 to 7 and incorporates the first element of the OECD's recommendation, meaning the exclusion of the Minister of Energy from its composition and the establishment of a professional model without guild representation.
Of the seven members, two will be directly appointed by the President of the Republic, four will come from proposals of the Alta Dirección Pública System, and one will be proposed by all the company’s workers. This improves the integration of the board, avoiding potential conflicts of interest and seeking an optimal mechanism for the selection of suitable and qualified candidates.
The Law also establishes the need to have a five-year business and development plan, which is developed and prepared by the management and execution bodies to be presented at the shareholders' meeting. This plan must be updated annually. The Law also incorporates a capitalization of up to US$400 million, resources that will be used to amortize debt and investment needs