The Review is governed by Statutes and by an Internal Regulation that derives from them. Throughout its long history, the Review has had three Statutes: the Founding ones, corresponding to the “Contract of the Military Review Company”, dated 1 December 1848; the Statutes dated 1 January 1862; and the ones that marked the recognition and support by the War Ministry, dated 7 December 1905.

The Founding Statutes determined some of the characteristics of the Review, namely the periodicity (monthly), the objective (enlightenment and entertainment of military personnel) and the purpose (treating, in a particular way, matters pertaining to the general instruction of the Army and the specific instruction of the different Arms).

The Internal Regulation has been subject to successive adaptations. Respecting the Statutes, it includes norms and provisions that concern the general management of the company and its literary and cultural life, specifying the types and totals of members (Ordinary and Honorary).

Currently, the Military Review Company is governed by the 1905 Statutes and by the Internal Regulation approved at the General Assembly held on 10 December 1996. Ordinary members are elected among officers that distinguish themselves in the collaboration with the Military Review or in the study of national defence matters. The number of ordinary members should not exceed seventy.