Sec. 106, Executive Decree no. 18 , so called “Cura Italia” provides for that, notwithstanding the Sec. 2364, II§ and 2478-bis, Italian Civil Code, ordinary Shareholders’ meeting for approval of FY2019 can be convened within 180 days from the closing of the financial year (instead of the usual 120 days).
The same Section 106 provides for that, notwithstanding the statutory regulations, meetings and vote can be held via video or audio conference, without the compulsory presence of the President and of the Secretary/Notary in the same place, as set forth by the law.
In conclusion: pursuant to the provision of “Cura Italia” ordinary Shareholders’ meetings for the approval of the balance sheet can be convened within 180 days from the closing of the financial year, without the need of a specific resolution of the Board of Directors.
In this event the company’s bodies are in charge until the date of the Shareholders’ meeting called to approve the balance sheet. The above regulations shall apply until the scheduled date of expiration of the Executive Decree “Cura Italia” (July 31, 2020), unless postponement of the same.
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