{"id":41715,"date":"2022-05-31T15:09:04","date_gmt":"2022-05-31T13:09:04","guid":{"rendered":"https:\/\/www.rplt.it\/update-italian-golden-power-regime-new-extension\/"},"modified":"2024-04-17T13:42:14","modified_gmt":"2024-04-17T11:42:14","slug":"update-italian-golden-power-regime-new-extension","status":"publish","type":"post","link":"https:\/\/www.rplt.it\/en\/update-italian-golden-power-regime-new-extension\/","title":{"rendered":"Update | Italian Golden Power regime: new extension"},"content":{"rendered":"

With our previous articles[1]<\/a>, we provided an overview of the legal framework relating to the Golden power regime, analyzing the 2021 and early 2022 new provisions on special powers and measures introduced by the Italian Government aimed at strengthening the monitoring of foreign investments in Italian companies as well as ensuring transparency in the capital market, including measures applying to transactions within the European Union.<\/p>\n

On March 21, 2022, in response to the Ukraine-Russia crisis (and the direct and indirect consequences on the European and Italian economy), the Italian Government enacted specific provisions and measures so as to tackle the social and economic effects arising out of the war by way of Law Decree 21\/2022<\/u>.<\/p>\n

The Italian Parliament has now converted Law Decree 21\/2022 into law by means of Law 51\/2022<\/u>, which was published on the Official Gazette on May 20, 2022.<\/p>\n

Both Law Decree 21\/2022 and Law 51\/2022 provide for significant amendments to the Law Decree no. 21 of March 15, 2012 (the so called \u201cGolden Power Decree<\/strong>\u201d).<\/p>\n

The most significant novelties are:<\/p>\n

1) the introduction, by Law 51\/2022, of a new paragraph 5-bis to article 1 of the Golden Power Decree. Such paragraph provides for a notification obligation<\/u> also in relation to the establishment of a newCo<\/u><\/strong> whose corporate purpose relates to activities in the defense and national security industry<\/u><\/strong> or which holds assets of strategic importance<\/u><\/strong> in the defense and national security industry;<\/p>\n

2) the integration, by Law 51\/2022, of paragraph 2 of article 1-bis of the Golden Power Decree, which now requires that the \u201cyearly plan<\/em>\u201d (to be filed with the Italian Government by companies which propose to purchase goods or services relating to the set-up, manufacturing, maintenance and management of the broadband electronic communication services based on 5G technology) shall also include a comprehensive notice<\/u> on agreements relating to the broadband electronic communication services based on 5G technology which have already been authorized<\/u> (and for which the validity of the authorization stands);<\/p>\n

3) the inclusion, by Law 51\/2022, in the assets of strategic interest<\/u> in the energy, transport and communications industries<\/u> indicated by DPCM 180\/2020 also of the ones under public concessions<\/u>, however granted, including concessions of \u201clarge hydroelectric branch<\/u><\/em>\u201d. Also, the assets and business relations of strategic significance for the national interest<\/u> provided for by DPCM 179\/2020, now include the ones relating to public concessions<\/u> (article 2, paragraphs 1 and 1-ter, of the Golden Power Decree);<\/p>\n

4) the amendments to article 2, paragraphs 2-bis and 5, of the Golden Power Decree, which now provide that:<\/p>\n