Regulatory Alerts1995-03-29
Decree of the Minister of the Treasury, President of the CICR, No. 720603 of 29 March 1995
The Italian Minister of the Treasury, acting as President of the Interministerial Committee for Credit and Savings (CICR), issued an urgent decree regulating the collection of savings from employees and members of cooperative entities. The decree permits capital companies and cooperatives to collect savings from employees under strict statutory and financial limits, while prohibiting the use of demand instruments or payment-related tools. It also establishes transitional rules for public administration cooperatives to align their statutes by December 1995 and sets a compliance deadline of December 1997 for existing operations.
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