Clifford Chance

'Golden share': new special powers of the Italian Government

20 March 2012

Law Decree no. 21 of 15 March 2012, published in the Italian official Gazette no. 63 on 15 March 2012 introduces a new set of special powers of the Italian Government in relation to defence and national security sectors and to strategic assets in the energy, transport and communications fields, amending the current Italian legislation on the "golden share".

The provisions set forth in Decree no. 21/2012 entered into force on 16 March 2012 and will be effective for a period of 60 days, during which the decree must be converted into law by the Italian Parliament, with any amendments that the Parliament may decide to implement. The full application of the Decree no. 21/2012 requires also further ministerial decrees that will indentify the strategic activities and assets which are subject to the new "golden share".

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