Golden Power regime in Italy
The new Procedural Regulation
On September 9, 2022 (Official Journal No. 211/2022), the Italian Government has finally adopted the new procedural regulation for the application of the Golden Power regime, after its announcement in August. Decree No. 133/2022 afresh regulates the coordination activities of the Presidency of the Council of Ministers for the performance of activities preparatory to the exercise of special powers granted to the Government by the Golden Power Decree (No. 21/2012, as amended), providing for measures aimed at simplifying the administrative proceeding and case investigation, included the long-awaited pre-filing procedure.
The Decree has been adopted pursuant to the latest amendment to the Golden Power Decree (see our Newsletter PeA of March 24Th, 2022), which provided, inter alia, for simplification measures aimed at strengthening the coordination activities of the Prime Minister’s Office. The reform approved in March thus becomes operational with the introduction of significant innovations, also implying a more efficient management of an ever-increasing number of notifications of transactions subject to the Golden Power regime.
The Decree will enter into force on September 24, 2022.