LEGAL NEWS IN THE SPOTLIGHT | Report obligations on beneficial ownership of companies suspended

Newsletter n. 91 – December 2023

LEGAL NEWS IN THE SPOTLIGHT

Report obligations on beneficial ownership of companies suspended

On 7 December 2023, the Regional Administrative Court of Lazio Region issued its Order No. 08083/2023 in the context of Proceeding No. 15566/2023 initiated by Assoservizi Fiduciari against the Italian Ministry of the Enterprise and Made in Italy (Ministero delle Imprese e del Made in Italy or MIMIT) ruling the suspension of the effectiveness of Decree of 29 September 2023 (Certification of the operability of the system for reporting data and beneficial ownership information) issued by MIMIT and implementing the Decree No. 55 of 11 March 2022. As a consequence, the obligation to communicate to the Commercial Register office the data and information on the beneficial ownership of companies with legal personality within 11 December 2023 provided for by Decree of 29 September 2023 is now suspended. The merits of the appeal will be discussed at the hearing scheduled for 27 March 2024.