NEW BUSINESS CRISIS CODE APPROVED: NEW GUIDELINES FOR APPOINTING SUPERVISORY BODY OR AUDITOR IN S.R.L. COMPANIES

In short

On 10 January 2019, the Council of Ministers approved a legislative decree that specifically implements Italian Law no. 155 of 19 October 2017, introducing the new “Business Crisis and Insolvency Code” into the Italian legal system.
The most significant changes include amendments to guidelines making appointment of a supervisory body or auditor mandatory in limited liability companies (società a responsabilità limitata – s.r.l.) and cooperative companies, redefining the organisational obligations of companies and the “early warning” procedures.

Download alert