Resolution 19462⁽¹⁾

Procedures and time limits for paying the fees due for the 2015 fiscal year pursuant to Article 40 of Law 724/1994

THE ITALIAN COMPANIES AND STOCK EXCHANGE COMMISSION (CONSOB)

 Having regard to Law 216 of 7 June 1974 as amended;

Having regard to Article 40.3 of Law 724 of 23 December 1994 as amended, which, inter alia, provides for Consob, with a view to its funding, to determine each year the amount of the fees it is to be paid by the persons subject to its supervision;

Having regard to Consob Resolutions no. 19460 and no. 19461 dated December 16, 2015 which provided, pursuant to aforementioned Article 40, respectively persons required to pay fees for year 2016 and the amount of the fees for the same year;

Whereas it is consequently required to specify for the 2016 fiscal year the procedures and time limits for paying the fees due in accordance with Resolutions no. 19460 and no. 19461 dated December 16, 2015;

RESOLVES

Article 1
Procedures and time limits for paying fees

1. The fee due by persons referred to in Article 1.a), 1.b), 1.c), 1.d) [excluding EU management companies, EU AIFs managers - foreigners], 1.e),1.f), 1.g)[excluding Sicavs, Sicafs, EU AIFs managers, collective investment undertakings subject to Articles 42, 43 and 44 of Legislative Decree no. 58/1998 - foreigners], 1.h), 1.i), 1.j) [excluding foreign issuers of financial instruments admitted to trading on Italian regulated markets] 1.k), 1.l) [excluding foreign offerors] 1.r), 1.s),1.u) and 1.v) of Resolution 19460 dated December 16, 2015 must be paid by 15 April 2016. Payment must be made using the special pre printed MAV form, which will be sent until twenty days before the time limit to the addresses of persons required to pay the fees.

2. The payment instructions and the specific customer care services available, in addition, for any delay or problem with the delivery of the pre printed MAV or for any loss, will be posted on Consob website (www.consob.it).

3. The fee due by persons specified in Article 1.n),1.o), 1.p), 1.q) and 1.w) of Resolution no. 19460 dated December 16, 2015 must be paid by February 28, 2016.

4. The payments referred to in paragraph 3 must be made through a bank credit transfer on bank account no. 60006X08 under the name of "Consob, Via G.B. Martini 3 , 00198, Rome- ITALY" at Banca Popolare di Sondrio/Branch no. 25, Viale Parioli 39/B, 00197, Rome - ITALY, bank code 05696 – branch code 03225, Swift code (BIC) POSOIT22 - IBAN: IT44Z0569603225000060006X08).

5. When making payments, the following information must be given: the name of the person required to pay the fee and the description of the reason for the payment. This information must be shown on the bank credit transfer form as follows: a) the first name and surname or company name in the section of the form provided for information on the identity of the person required to pay; b) the description of the reason for the payment in the section of the form provided for the transmission of information to the beneficiary.

6. The description of the reasons for the payment to be used for the purposes established in the preceding subsection are given in the table annexed to this resolution, of which it is an integral part.

7. The fee due by persons referred to in Article 1. m) of Resolution 19460 of December 16, 2015 must be paid, using the procedures laid down in the previous subsections 4 to 6, by:

a) February 28, 2016 where the financial statements for the financial year ended in 2015 were approved not later than the thirtieth day before the date of publication of this resolution in the Gazzetta Ufficiale della Repubblica Italiana;

b) the thirtieth day from the date of approval of the financial statements for the financial year ended in 2015 in all other cases;

c) September 30, 2016 by all the other persons entered in the Register (of statutory auditors and auditing companies), not required to make a financial statement, with statutory audit assignment of entities of public interest.

Within the time limit for payment referred to in subsection 7.a), 7.b) and 7.c) a copy of the documentation certifying payment, or a declaration attesting payment in lieu thereof containing the information specified in subsection 5 and the details of the payment made (current account, amount, date of the payment and value date), with attached a table explaining the calculation of the fee, shall be sent to Consob.

8. The fee due by persons referred to in Article 1.d)[with reference exclusively to EU management companies, EU AIFs managers], 1.g) [with reference exclusively to Sicavs, Sicafs, EU AIFs managers, collective investment undertakings subject to Articles 42, 43 and 44 of Legislative Decree no. 58/1998], 1.j) [with reference exclusively to foreign issuers of financial instruments admitted to trading on Italian regulated markets] and 1.l) [with reference exclusively to foreign offerors] of Resolution 19460 dated December 16, 2015 must be paid by 15 April 2016 through a bank credit transfer to be made following the receipt of the related notice of payment, which will be sent until 20 days before the payment’s deadline at the addresses of persons required to pay the fees.

9. The notice of payment referred to in the subsection 8 will give the "firm code" and a specific "reference number" that Consob uses to identify the addressee and the description of the reason for the payment. This information, together with the name of the addressee, must be shown on the bank credit transfer form as follows: a) the first name and family name or company name in the section of the form provided for information on the identity of the person required to pay; b) the "firm code" and the "reference number" of the notice of payment in the section of the form provided for the transmission of information to the beneficiary. The bank credit transfer must be made on the current bank account laid down in subsections 4.

Article 2
Collection enforcement and arrears interest

1. The payment procedures provided for in this resolution shall be mandatory. Failure to pay fees within the time limits established shall result in the start of collection enforcement proceedings pursuant to Article 40 of Law 724/1994 and the application of arrears interest at the legal rate.

Article 3
Final provisions

1. This resolution shall be published in the Gazzetta Ufficiale della Repubblica Italiana⁽³⁾ and Consob's Bulletin.

Rome, 16 December 2015

THE CHAIRMAN
Giuseppe Vegas

DESCRIPTIONS OF REASONS FOR PAYMENT OF FEES

Supervision fees

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1. Given effect by a decree issued by the Prime Minister on January 13, 2016.

2. Denomination amended by resolution no. 19548 of 17.3.2016 which replaced the words: "financial salemen" with the words "financial advisors authorised to make off-premises offer".

3. Denomination amended by resolution no. 19548 of 17.3.2016 which replaced the words: "Body of financial salemen" with the words "Body of financial advisors".

4. Published in the Official Gazette no. 22 of 28.01.2016. Resolution no. 19462 of 16.12.2015 was modified by resolution no. 19548 of 17.3.2016, published in the Official Gazette n. 69 of 23 March 2016 and in CONSOB Bulletin Fortnight. 3.2, March 2016; into force from the day following its publication in G.U.