On 20 May 2022, The Italian Parliament confirmed Law-Decree No. 21/2022 which the Government had enacted in March 2022 to introduce certain significant changes to the Italian rules on foreign investments review (FIR) in response to the invasion of Ukraine by Russia (see our article here). The result is Law No. 51 dated 20 May 2022 (Law 51/2022). By way of background, in the Italian constitutional framework, the issuance of State-wide laws falls within the domain…
On 23 December 2021, the Italian Government extended a significant number of mandatory terms in order to ensure the continuity and efficiency of the administration of the Italian State in the context of the Covid-19 emergency. Among these terms, the Government included also those terms concerning the application of certain emergency provisions connected to the Italian foreign investment review (FIR) regime, also known as “Golden Power”. In particular, by way of Law Decree No. 228…
1. Overview On 18 December 2020, the Italian Government issued implementing rules identifying which assets within the sectors listed in the EU FDI Regulation will be deemed “strategic” for Italian foreign investment review (FIR) purposes. These implementing rules will enter into force on 14 January 2021 (New Implementing Rules). The EU FDI Regulation, which became fully operational on 11 October 2020, specifies certain factors and sectors that Member States may take into consideration when deciding…