commiss decis august tax measur bank foundat implement itali ec nn notifi document number italian text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof call interest parti submit comment pursuant provis cite regard comment procedur letter date march commiss receiv parliamentari question subject ask italian author provid inform order assess scope effect law decemb hereinaft law letter date june juli italian author provid commiss inform law legisl decre hereinaft decre examin inform receiv commiss advis italian author march aforement law decre aid element ask halt implement measur letter date april italian author inform commiss suspend implement measur inform provid commiss letter june letter date octob commiss inform italian govern decid initi procedur laid articl ec treati respect aid commiss decis initi procedur publish offici journal european commun commiss invit interest parti submit comment measur commiss receiv comment interest parti june forward italian author opportun react comment receiv letter date juli ii detail descript aid law decre introduc tax advantag bank foundat foundat alter statut line decre design commerci bodi articl decre entitl reduct corpor tax irpeg provid articl presidenti decre septemb bodi activ social assist health educ similar sector articl decre capit gain aris transfer hold bank count purpos corpor tax irpeg region tax product irap transfer made foundat compani transfer hold pursuant law juli measur appli provid transfer made year date decre forc articl decre tax neutral transact good hold ancillari bank activ transfer bank compani pursuant law juli return transfer bodi fix amount payment indirect tax articl decre tax neutral transact hold capit banca italia transfer bank compani pursuant law juli return transfer bodi articl decre law decre introduc tax advantag bank merger restructur oper measur appli bank dealt commiss decis decemb case ec state own bank itali statu public limit compani gradual convert public limit compani made compulsori share market transfer profit bodi call quot bank foundat quot measur recit lai condit foundat transfer year period hold bank foundat oblig eventu give control commerci bank law juli introduc special tax rule bank foundat own control newli creat bank transfer asset bank measur recit refer asset lai condit return bank foundat commiss found tax advantag grant law decre bank foundat constitut state aid mean articl treati reason law decre grant tax advantag specif bank foundat select measur confer econom advantag forgo tax revenu state resourc bank foundat profit make bodi bound corpor object laid law pass tax advantag member econom actor exercis activ commerci sector fall scope articl treati hold bank sharehold undertak foundat oper market ownership control undertak aid bring distort market addit rule tax advantag eventu benefit bank undertak hold constitut state aid undertak foundat question subject influenc public author distort caus market oper italian author state tax advantag appli foundat decid cede control bank facilit privatis process gener interest argu italian competit market author autorità garant della concorrenza del mercato definit control laid articl decre narrow enabl foundat retain de facto control bank wider definit control provid bank legisl line gener interest ground commiss initi procedur laid articl ec treati iii comment interest parti commiss receiv number comment beneficiari aid repeat argument put forward italian author point made problem distort market control undertak differenti tax arrang grant categori investor includ profit bodi call question point tax benefit aim offset effect polici forc foundat radic chang statut withdraw bank activ sale control sharehold commerci compani tax advantag grant foundat transfer transfere bank commerci undertak effect increas resourc foundat devot pursu social goal advantag distort competit reduc rate corpor tax similar tax advantag common member state associ foundat measur constitut aid assumpt contest compat articl inform foundat show activ devot cultur environment promot conserv fact area foundat allow oblig oper point commiss contest law juli grant similar benefit commiss awar content law dealt albeit indirectli case aid banco di napoli banco di sicilia sicilcassa measur decre consid incompat aid breach principl equal treatment court justic rule quot commiss accus discrimin shown treat case differ subject disadvantag oppos differenti justifi exist substanti object differ quot case decre assess differ law fact commiss find law incompat creat legitim expect part recipi mean aid judg incompat recov iv comment itali respons initi procedur italian govern repli bank foundat consid quot undertak quot purpos competit rule legisl decre novemb hereinaft decre introduc precis limit activ foundat public interest social function oper identifi area decre requir foundat treat hold bank pure financi invest court justic rule mere acquisit hold share compani regard econom activ decre confirm approach articl identifi sector relev sector foundat oper scientif research educ art environment cultur promot conserv health care assist social vulner group articl stipul foundat control directli manag undertak activ sector instrument undertak articl prohibit foundat financ directli indirectli bodi oper profit undertak kind quot instrument quot undertak instrument undertak field activ statutori object consist foundat pursu pure quot commerci quot polici fact foundat donat fund perform activ social interest devot annual incom activ italian author refer judgment court poucet pistr state quot sick fund organis involv manag public social secur system fulfil exclus social function activ base principl nation solidar profit make benefit paid statutori benefit bear relat amount contribut activ econom activ organis entrust undertak mean articl treati quot italian author similar argument appli foundat foundat consid undertak ground sharehold bank decre oblig foundat withdraw control year concept control wider laid civil code cover control exercis agreement sharehold wider concept control commiss direct eec june transpar financi relat member state public undertak decre stipul manageri posit foundat incompat manageri posit quot transfere quot bank case foundat quot instrument undertak quot consid undertak mean articl oper exclus relev sector directli involv pursu statutori object foundat measur recit repres derog normal tax rule simpli confirm applic foundat gener provis italian tax legisl presidenti decre septemb grant reduct corpor tax legal person oper social assist health educ similar sector measur recit confer advantag foundat prevent penalis forc sale share capit gain aris ordinari transact decid oper event impos law applic ordinari tax rule justifi measur recit concern good hold instrument activ transfer bank pursuant law juli public bank convert public limit compani own bank foundat oper transfer asset bank foundat order avoid taxat revalu asset case hold capit banca italia choic place foundat law march newli creat foundat bodi elig sharehold banca italia decre modifi rule allow foundat hold share banca italia italian author measur recit involv state resourc tax advantag automat condit carri specif transact transact attract tax place argu measur recit introduc derog normal rule instanc demerg benefit tax neutral compani sector indirect tax calcul fix basi number instanc measur necessarili confer econom advantag provid tax neutral transfer asset question foundat mean capit loss give rise tax credit tax neutral tax exempt tax burden shift owner asset case laid tax law pai tax total amount capit gain event measur result exempt tax paid natur transact justifi special tax treatment ordinari sale asset transact correct effect previou voluntari transfer asset involv remain foundat temporarili transfer quot transfere quot compani legal oblig case hold banca italia order avoid tax payment case instrument asset measur decre law distort competit market trade member state sale sharehold place discriminatori fashion subject control supervisori author assess fair sell price view preserv asset foundat tax advantag foundat alter condit competit market compani sharehold tax advantag benefit directli indirectli bodi foundat instrument undertak pursu statutori object foundat oper normal market criteria consid quot undertak quot mean articl event activ local natur project financ foundat place foundat region foundat respond typic local natur satisfi oper member state field scientif research educ art cultur environment promot conserv health care assist social vulner group market oper measur constitut state aid assumpt contest declar compat articl measur advers affect trade condit extent contrari common interest aim facilit process reduct state involv economi occas support encourag eu assess measur rule bank foundat bank foundat subject supervis specif author aim ensur complianc law statut sound prudent manag adequ return invest protect actual potenti beneficiari end supervisori author enact administr provis lai rule asset manag invest revenu annual account repeat irregular found supervisori author dissolv statutori bodi foundat appoint special administr foundat longer purs object author order wound special case supervisori author prescrib forc administr liquid liquidazion coatta amministrativa foundat lastli supervisori author exercis power regard divest control sharehold bank foundat allow oper call quot admit sector quot admit sector list articl bi legisl decre decre amend law decemb law list divid broad area protect develop individu social secur scientif technolog research environment protect art preserv cultur heritag promot cultur activ bank foundat requir concentr activ call quot relev sector quot quot relev sector quot quot admit sector quot foundat choos oper foundat requir select relev sector year relev sector prioriti area activ bank foundat devot sector annual net incom quot relev sector quot restrict area bank foundat authoris carri busi activ hold control stake commerci compani articl decre state bank foundat run commerci undertak directli quot instrument quot statutori object oper exclus relev sector articl stipul bank foundat financ subsidis directli indirectli bodi undertak kind control sharehold compani sold divest articl decre state control establish accord articl subparagraph civil code control exist foundat agreement kind sharehold appoint major execut hold major vote right ordinari gener meet agreement kind sharehold make appoint dismiss major member execut condit approv financi organis link exercis right addit law stipul bank deem control foundat control trace back directli indirectli foundat determin bank foundat allow retain sharehold bank period year entri forc decre law stipul bank foundat retain control sharehold bank period year provid manag sharehold transfere bank entrust independ asset manag compani società di gestion del risparmio sgr asset manag compani exercis sharehold right vote extraordinari gener meet meet call approv structur supervisori author adopt special provis aim ensur transpar fair choic asset manag compani avoid conflict interest authoris control sharehold divest deadlin set supervisori author case year entri forc decre foundat meet deadlin supervisori author direct measur ensur divest control sharehold possibl appoint special offic member intern bodi execut bank foundat satisfi requir profession integr experi requir establish supervisori author experi ethic standard requir perform plan administr manageri supervisori duti profit bodi bank foundat distribut profit member intern bodi execut employe law member intern bodi execut perform administr manageri supervisori duti quot transfere quot bank undertak oper bank financi insur sector decre origin word simpli prohibit member manag bodi foundat board director transfere bank asset bank foundat devot pursuit statutori object manag manner consist statu profit bodi oper accord principl transpar moral manag asset foundat observ prudenti risk criteria order preserv obtain adequ return addit requir diversifi invest view avoid risk aris invest concentr invest asset manner consist institut aim promot local develop articl decre amend law state local author appoint major member govern bodi foundat econom activ sum activ bank foundat consist direct revenu obtain asset promot action social field main aspect activ manag invest asset ii give grant profit bodi oper social field iii carri activ social field iv control quot instrument undertak quot manag invest asset activ decre specifi asset foundat ti pursuit statutori object foundat seek adequ return invest respect prudenti risk criteria order preserv capit acquir control commerci undertak decre introduc specif safeguard respect recit law strengthen safeguard regard bank explicitli rule possibl joint control widen scope ban cumul respons law reinforc separ foundat financi institut help allai concern express decis initi procedur manag capit perform foundat result provis servic market field vat court consist held hold compani sole purpos acquir hold undertak involv directli indirectli manag undertak prejudic right sharehold perform econom activ case hold accompani direct indirect involv manag compani hold acquir prejudic right held hold compani sharehold involv kind manag control undertak regard econom activ result sale good provis servic commiss consid principl relev assess foundat exercis econom activ consid undertak mean articl addit manag capit activ independ separ proce promot measur social field profit deriv manag asset distribut foundat member associ make grant hous manag foundat asset quot econom activ quot context activ make grant profit bodi oper social field revenu foundat deriv asset make grant profit bodi oper field laid law recit decre expressli prohibit bank activ foundat receiv form compens grant quot word court justic judgment poucet pistr recit type activ quot fulfil exclus social function quot quot base solidar principl quot quot profit make quot addit benefit grant foundat return foundat foundat oper normal market criteria market exist type activ commiss consid manag asset proce make grant profit entiti oper social field econom activ make foundat undertak mean articl treati activ social field control quot instrument undertak quot bank foundat authoris control stake undertak fund commerci activ circumst stipul law case foundat directli carri activ quot relev quot sector control bodi oper field instrument undertak event foundat instrument undertak oper profit assess activ field law consid quot econom quot remind establish case law quot concept undertak cover entiti engag econom activ legal statu financ activ consist offer good servic market econom activ quot court justic held case sector pension fund fact profit make pursuit social object manifest solidar restrict control invest prevent activ engag fund regard econom activ activ consist offer good servic consid econom rule exist market compar good servic field law educ cultur health care conserv scientif research assist vulner social group find oper exercis similar activ profit purpos unlik activ make outright grant quot market quot exist activ provid servic clinic art galleri care agenc involv econom transact market direct presenc foundat abil control undertak liabl distort competit activ immun competit control activ perform quot relev sector quot quot econom natur quot similarli activ quot econom quot affect trade member state exact identif activ purpos state aid control place case case basi italian author state time foundat take advantag possibl provid law directli carri activ quot relev quot sector foundat quot undertak quot purpos articl virtu activ carri directli quot relev quot sector carri activ articl decre requir foundat separ account possibl acquir control instrument undertak make foundat undertak impli direct involv activ control undertak legal separ account separ exist foundat quot instrument undertak quot authoris control commiss consid bank foundat directli involv activ quot relev quot sector undertak purpos articl hand foundat consid undertak directli involv activ econom natur quot relev quot sector inform provid italian author effect foundat carri direct activ quot relev quot sector led commiss revis preliminari view express decis initi procedur natur foundat undertak presenc aid element foundat directli involv econom activ quot relev quot sector trade member state tax advantag benefit activ constitut state aid notifi pursuant articl similarli major member foundat govern bodi appoint local author recit foundat consid publicli control bodi public author control resourc bank foundat grant fund form support undertak quot relev quot sector constitut state aid distort threaten distort competit affect trade member state aid notifi pursuant articl transfere compani establish pursuant law juli decre grant tax advantag recit transfere compani establish pursuant law foundat transfer hold bank compani carri bank activ exclud scope present decis caught commiss decis decemb case ec articl decre explicitli case transfere compani carri bank activ own foundat compani administ financi hold foundat offer servic parti own foundat tax advantag recit ultim accru foundat long foundat confere compani question undertak mean articl measur recit confer advantag undertak commiss consid tax advantag grant articl decre transfere compani carri bank activ own foundat constitut state aid mean articl vi conclus commiss consid manag asset proce make grant profit bodi oper social field econom activ make foundat undertak mean articl treati italian author state foundat directli engag activ econom natur field possibl grant law measur intend foundat articl articl articl articl decre constitut state aid intend undertak mean articl treati measur introduc articl articl articl decre transfere compani carri bank activ offer servic parti own foundat constitut state aid intend undertak mean articl foundat directli involv econom activ quot relev quot sector trade member state tax advantag benefit activ constitut state aid notifi pursuant articl similarli major member foundat govern bodi appoint local author public author control resourc foundat grant fund form support undertak constitut state aid distort threaten distort competit affect trade member state aid notifi pursuant articl lastli transfere compani offer servic parti tax advantag grant constitut state aid notifi pursuant articl adopt decis articl measur itali implement articl articl articl articl legisl decre foundat directli carri activ sector list articl bi decre amend law decemb constitut aid mean articl treati articl measur itali implement articl articl articl legisl decre transfere compani carri bank activ offer servic parti own foundat refer articl present decis constitut aid mean articl treati articl foundat directli involv econom activ quot relev quot sector trade member state tax advantag benefit activ constitut state aid notifi pursuant articl ec treati major member foundat govern bodi appoint local author fund form support grant undertak constitut state aid notifi pursuant articl ec treati transfere compani offer servic parti tax advantag grant constitut state aid notifi pursuant articl ec treati articl decis address italian republ brussel august commiss mario monti member commiss oj footnot commiss notic pursuant articl ec treati member state interest parti aid grant banco di napoli case oj page commiss decis ec juli oj commiss decis ec oj case finsid commiss ecr paragraph case harna amp helm cv staatssecretari van financiën ecr paragraph join case poucet pistr ecr paragraph oj amend direct ec oj quot forc administr liquid quot liquidazion coatta amministrativa special wind procedur replac applic ordinari rule bankruptci law introduc distinct quot admit quot quot relev quot sector origin decre cover quot relev sector quot gener defin scientif research educ art health cultur environment promot conserv assist vulner social group differ past present rule provis tend forc bank foundat defin accur scope activ area activ chosen quot relev sector quot area protect develop individu law list famili relat valu growth develop young peopl educ train includ acquisit public school voluntari chariti work religion spiritu develop assist elderli civil right area social secur includ crime prevent public safeti food secur high qualiti agricultur local develop public hous consum protect civil protect public health prevent rehabilit medicin sport prevent drug addict rehabilit addict psycholog mental condit law decemb ad capit manag consist natur foundat profit bodi oper principl transpar moral law decemb foundat entrust hold quot transfere quot bank compani specialis invest manag società di gestion risparmio sgr delai sale control stake bank year foundat interfer manag asset sharehold right give indic decis extraordinari gener meet provid articl italian civil code case polysar invest netherland inspecteur der invoerrechten ecr sofitam ecr floridienn berginvest ecr case commiss european commun italian republ ecr paragraph join case brentjen handelsondernem bv sticht bedrijfspensioenfond voor de handel bouwmaterialen ecr paragraph letter januari repli commiss letter octob inform italian govern decid initi procedur laid articl ec treati