44. Commitments and contingencies

Fiscal unity

Stedin Holding N.V. forms a fiscal unity for corporate income tax purposes with all its subsidiaries as included in 36 Overview of capital interests, with the exception of Infradock B.V. The companies, including Stedin Holding N.V., that are part of a fiscal unity are jointly and severally liable for the tax obligations of that fiscal unity.

Stedin Holding N.V. forms a fiscal unity for value-added tax purposes with all its subsidiaries as included in 36 Overview of capital interests, with the exception of Infradock B.V. The companies, including Stedin Holding N.V., that are part of a fiscal unity, are jointly and severally liable for the tax obligations of that fiscal unity.

Cash pool

Stedin Holding N.V., Stedin Groep Services B.V., Stedin Groep Personeels B.V. and NetVerder B.V. are part of a cash pool based on a zero balancing agreement and are jointly and severally liable for deficits within this cash pool.

Guarantees

Stedin Holding N.V. has taken out directors’ and officers’ liability insurance for the members of the Supervisory Board, the members of the Board of Management, directors and other executives within Stedin Group. To the extent possible, the directors are indemnified by Stedin Holding N.V., subject to specific conditions, against costs in connection with civil-law, criminal-law or administrative-law proceedings in which they could be involved because of their position.

See 29 Commitments and contingencies for an overview of the off-balance sheet assets and liabilities for Stedin Group.

Liabilities statements of subsidiaries

For most of the subsidiaries, liability statements as referred to in Section 2:403 of the Dutch Civil Code have been issued by the legal entity. This is specified in 36 Overview of capital interests. Pursuant to these liability statements, Stedin Holding N.V. is jointly and severally liable for all debts arising from legal acts performed by those subsidiaries.