Introduction
This alert analyses the amendments made to Italian law no. 130
of 30 April 1999 on receivables securitisation (
Law
130 ) by article 1, paragraphs 214 and 215 of Italian
law no. 178 of 30 December 2020 (
2021 Budget
Law ), pursuant to which the scope of Law 130 was
broadened and the interpretation of paragraph 4 of article 7.1 of
Law 130 was clarified.
Regulatory framework and amendments over the years
Law 130 was subject to different regulatory interventions over
the years:
(a) Law Decree no. 50 of 24 April
2017, converted into Law no. 96 of 24 April 2017, introduced a
specific discipline for the securitisation of non-performing
receivables, providing, among other things, the possible creation
of an
ad hoc special purpose vehicle aimed at purchasing,