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This is an unofficial English Language courtesy translation of the original Italian report prepared and issued in Italian by the Board of Statutory Auditors of Recordati S.p.A . . | March 30, 2023 ....
The outbreak of COVID-19 emergency in Italy and subsequent measures taken by the Italian Government and public authorities raise several challenging issues for employers. This section. ....
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Introduction This alert analyses the amendments made to Italian law no. 130 of 30 April 1999 on receivables securitisation ( Law 130 ) by article 1, paragraphs 214 and 215 of Italian law no. 178 of 30 December 2020 ( 2021 Budget Law ), pursuant to which the scope of Law 130 was broadened and the interpretation of paragraph 4 of article 7.1 of Law 130 was clarified. Regulatory framework and amendments over the years Law 130 was subject to different regulatory interventions over the years: (a) Law Decree no. 50 of 24 April 2017, converted into Law no. 96 of 24 April 2017, introduced a specific discipline for the securitisation of non-performing receivables, providing, among other things, the possible creation of an ad hoc special purpose vehicle aimed at purchasing, ....