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As Nokia has comprehensive risk management and internal control processes in place, there is no separate internal audit function at Nokia. At Nokia, the approval of the stakeholders is needed before any decision is taken.
Nokia follows the requirements of Finnish law with respect to the internal audit function and the approval of equity compensation plans. Under Finnish law, stock option plans require shareholder approval at the time of their launch. All other plans that include the delivery of company stock in the form of newly issued shares or treasury shares require shareholder approval at the time of the delivery of the shares or, if shareholder approval is granted through an authorization to the Board of Directors, not earlier than one year in advance of the delivery of the shares...
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