OUTLINES OF THE ITALIAN LEGAL SYSTEM
A first aid kit for the foreign investor
- CONTENTS -
SECTION I - CORPORATE
		I. 1 - Legal entities
			1.1 - Corporate activity in Italy
			1.2 - Corporate enterprises in Italy
			1.3 - Companies
			1.4 - Partnerships
			1.5 - Company organs
			1.6 - Incorporation, transformation, merger and separation procedures
		I.2 - Directors' liability
			2.1 - Directors' duties and consequence of their breach.
			2.2 - Civil liability: internal and external liability.
			2.3 - Persons liable.
			2.4 - Legal remedies and actions.
			2.5 - Administrative and penal liability; individual exoneration.
		I.3 - Accounting and reporting
			3.1 - Law background
			3.2 - Accounting requirements
			3.3 - Financial statements
			3.4 - Audit requirements
			3.5 - Reporting, disclosure and filing requirements
		I.4 - Winding up and liquidation
			4.1 - Events of winding up
			4.2 - Arrangements with creditors
			4.3 - Bankruptcy
SECTION II - MERGERS AND ACQUISITIONS, JOINT VENTURES
		II.1 - Mergers and separations
		II.2 - Sale-purchase of shares
		II.3 - Sale of business
			3.1 - General principles
			3.2 - Object of the contract
			3.3 - Assignment of contracts
			3.4 - Trade unions, labour contracts and related fulfilments
			3.5 - Assignment of credits
			3.6 - Joint liability for debts
			3.7 - Labour debts
			3.8 - Fiscal debts
			3.9 - Safety at work, environmental liability and fire prevention
		II.4 - Joint venture entities and contracts
			4.1 - Introduction
			4.2 - Contractual joint ventures
			4.3 - Corporate joint ventures
SECTION III - TAXATION IN ITALY
		III.1 - Tax system
			1.1 - Brief Outline of the Italian Tax System: Direct and Indirect Taxes
			1.2 - Corporate taxes
				· IRPEG (Corporate Income Taxes)
				· IRAP ( Regional tax on "Net Outcome Value")
				· Taxation of Foreign Companies
			1.3 - Taxes on Individual Persons
				Notes on the different categories of taxable income: income from capital,
				income from employment and income from self-employment
			1.4 - Accounting Obligations Born by Taxpaying Entrepreneurs
			1.5 - Notes on Tax Concessions and on Forms of Investment Incentives
			1.6 - Notes on the Tax Collection System
			1.7 - IVA (VAT): Brief Summary
			1.8 - Conventions against Double Taxation: Notes
SECTION IV - LABOUR LAW AND SOCIAL SECURITY SYSTEM
		IV.1 - Sources of Law
		IV.2 - The System in general
			2.1 - Recruiting
			2.2 - Hiring (interinal work)
			2.3 - Posting
			2.4 - Firing (redundancy)
			2.5 - The Unions
			2.6 - Health and Safety at work
			2.7 - Taxes, pensions, social contributions and insurance
SECTION V - BANKING AND DEBT FINANCING
		V.1 Banking
			1.1 - Banking activity: authorisations and supervision
			1.2 - Sanctions, rules and regulations governing insolvency
		V.2 Debt financing
			2.1 - The main forms of bank financing of enterprises
			2.2 - Interest rates: usury and accumulation
			2.3 - Loans
		V.3 - Banking debt financing
			3.1 - Quasi-banking debt financing
SECTION VI - CONTRACTS
SECTION VII - COMPETITION, ANTI - TRUST REGULATION
		VII.1 Antitrust regulations
			1.1 - Scope and relations with Community Law
			1.2 - Agreements restricting free competition (Art. 2 of Law no. 287/90)
			1.3 - Abuse of commanding positions (Art. 3 of Law no. 287/90)
			1.4 - Business combination deals
			1.5 - Injunctions and sanctions
SECTION VIII - CIVIL SERVICE
		VIII.1 Civil service structure
		VIII. 2 Planning changes within the territory
		VIII.3 - Building activity
		VIII. 4 Public contracts
			4.1 - Introduction
			4.2 - Special rules regulating public contracts
			4.3 - Contracts for public works
			4.4 - Contracts for services
			4.5 - Contracts for services in excluded sectors
			4.6 - Contracts for supplies
		VIII.5 Rules and regulations governing trade
			4.1 - Rules and regulations.
			4.2 - Practical aspects of the reform.
SECTION IX - CRIMINAL LAW
		IX.1 Criminal law applicable to bankruptcy
			1.1 - Introduction
			1.2 - Fraudolent bankruptcy
			1.3 - Plain bankruptcy
		IX.2 Financial crimes
			2.1 - Introduction
			2.2 - Crimes related to intermediaries and markets
			2.3 - Issuers' crimes
			2.4 - Crimes relating to auditing of accounts
			2.5 - Abuse of priivileged information (insider trading) and market rigging
		IX.3 Tax offences
		IX.4 Crimes relating to the protection of personal data
			4.1 - Law Nr. 675/1996
			4.2 - The guarantor for the protection of personal data
			4.3 - Sanctions
		IX.5 Computer crimes
			5.1 - Law Nr. 547/1993
			5.2 - Sanctions
		IX.6 Criminal liabilitiy of juridical persons
			6.1 - Rules and regulations governing the administrative liability of juridical persons
			6.2 - Sanctions
		IX.7 Privacy
		IX.8 Corporate governance
		IX. 9 Intellectual property crimes
		IX. 10 Environmental crimes
		IX. 11 Safety at work
SECTION X - LEGAL PROCEEDINGS
		X.1 - The Italian civil procedural code
		X.2 - Court structure
		X.3 - Jurisdiction
		X.4 - Ordinary proceedings
			2.1 - Characteristics of civil proceedings
			2.2 - Initiating litigation and proceeding in Courts
			2.3 - The appeal and the petition to the Supreme Court
			2.4 - Evidence and proof proceedings
			2.5 - Special Jurisdiction
		X.5 - Injunctions and provisional remedies
			5.1 - Order of payment
			5.2 - Order for possession
			5.3 - Provisional remedies
			5.4 - Preliminary proof proceedings
		X.6 - Enforcement and judgments
SECTION XI - ARBITRATION
		XI.1 - Introduction
		XI.2 - Form of arbitration agreement
		XI.3 - Object of arbitration
		XI.4 - Kinds of arbitration
			4.1 - Distinctions
			4.2 - Arbitrato rituale
			4.3 - Arbitrato rituale internazionale
			4.4 - Arbitrato commerciale internazionale
			4.5 - Arbitrato irrituale
		XI.5 - The enforcement in Italy of foreign arbitration awards