Source: https://www.global-regulation.com/translation/italy/621340/establishment-of-a-cuiconferire-real-estate-fund-or-transferring-state-owned-real-estate-for-institutional-purposes-and-obsolete-and-unused-packages-r.html
Timestamp: 2017-10-24 00:12:22
Document Index: 381297479

Matched Legal Cases: ['art. 33', 'art. 33', 'art. 4', 'art. 33', 'art. 4', 'art. 33', 'art. 33', 'art. 34', 'Art. 1', 'art. 33']

Machine Translation of "Establishment Of A Cuiconferire Real Estate Fund Or Transferring State-Owned Real Estate For Institutional Purposes And ..." (Italy)
Establishment Of A Cuiconferire Real Estate Fund Or Transferring State-Owned Real Estate For Institutional Purposes And Obsolete And Unused Packages Real Property Rights, As Well As Conferring Or Transferring Real Esate Heritage ...
Original Language Title: Costituzione di un fondo comune di investimento immobiliare cuiconferire o trasferire immobili di proprieta' dello Stato nonutilizzati per finalita' istituzionali e diritti reali immobiliari,nonche' conferire o trasferire anche il patrimonio immobiliar...
Read the untranslated law here: http://www.gazzettaufficiale.it/atto/serie_generale/caricaArticoloDefault/originario?atto.dataPubblicazioneGazzetta=2015-05-12&atto.codiceRedazionale=15A03549&elenco30giorni=false&atto.tipoProvvedimento=DECRETO
The MINISTER of economy and finance Saw the art. 33 of Decree-Law No 98 July 6, 2011, converted, with amendments, by law July 15, 2011, n. 111, and its subsequent amendments, containing provisions relating to public real estate heritage (hereinafter referred to as "art. 33 '); See, in particular, to paragraph 8 ter of article. 33 which provides that the Minister of economy and finance promotes, through the management company pursuant to paragraph 1, with the terms of art. 4 of Decree-Law No 351 September 25, 2001, converted, with amendments, by law November 23, 2001, # 410 (hereinafter ' Decree-Law No 351/2001»), the establishment of one or more real estate mutual funds whose transfer or confer properties of unused State property for institutional purposes, as well as real property rights, and that to these funds can, among others , make goods the subjects mentioned in paragraph 2 of art. 33, including public bodies; Visto l'art. 4 of Decree-Law No 351/2001, which States that the Minister of finance is authorized to promote the establishment of one or more real estate investment trusts, lending or transferring real property in different use from that State or residential real property rights, identified with one or more decrees of the Minister of economy and finance, governing also, the procedures for the placement of shares of the Fund and criteria for the allocation of proceeds from the sale of shares; See paragraph 7 of art. 33, which provides that the contributions and transfers to funds made pursuant to this article shall be applied, inter alia, articles 1, 3 and 4 of the same Decree-Law; Having regard to the Legislative Decree of February 24, 1998, n. 58 concerning the consolidated law on financial intermediation and in particular part II, title III, chapter II, containing provisions relating to UCITS; Having regard to the order of the Minister of economy and Finance of the March 5, 2015, no. 30 bearing the "implementing Regulations of article 39 of the Decree legislative February 24, 1998, # 58 (TUF) concerning the determination of the general policy which must comply with collective investment undertakings (CIUS)"; Whereas, to promote the establishment of the funds referred to in paragraph 8 ter of article. 33, the Ministry of economy and finance company uses Italian property investment management company limited by shares (hereinafter referred to as "InvImIt SGR S.p.A.»), which, pursuant to paragraph 1 of art. 33, by Decree of the Minister of economy and finance March 19, 2013, published in the Gazzetta ufficiale della Repubblica italiana of May 30, 2013, # 125, and authorized the provision of collective asset management service, under art. 34 of Legislative Decree of February 24, 1998, n. 58, by decision of the Bank of Italy of October 8, 2013; Having regard to the resolution of the Board of Directors of day 1 St December 2014 the Universita ' degli Studi di Bari took note of the features of the real estate to be made to instituting real estate fund "i3-University"; Having regard to the resolution of the Board of Directors of the University of Bari in December 19, 2014 date, by which it was approved the minutes of the meeting of 3/November 4, 2014 where it was decided to start the creation of a Commission to evaluate the provision of some assets to instituting real estate fund "i3-University"; Having regard to the resolution of the Board of Directors of the company InvImIt SGR S.p.A. of December 23, 2014 which established, among others, the real estate fund named "i3-University", with the approval of its management regulations; Given the opportunity to proceed to the setting up of a closed-end real estate investment fund which give or transfer unused State-owned real estate for institutional purposes as well as real estate, which may be granted or transferred, pursuant to paragraph 8 ter of article. 33 of Decree-Law No 98 July 6, 2011, including properties owned by other public bodies, including State universities, or fully investee companies such subjects;
Decrees: Art. 1 1. In accordance with art. 33, subparagraph 8 ter of the Decree-Law July 6, 2011, # 98, converted, with amendments, by law July 15, 2011, # 111, as amended, is the procedure of establishment of real estate investment fund called "i3-University", which give or transfer unused State-owned real estate for institutional purposes and real property rights, as well as give or transfer immovable property included in the estate by income of other public bodies , including State universities, or fully investee companies companies from such subjects. 2. The method of Constitution of the Fund's assets, the Fund's participation, the characteristics relating to the real estate of the State University, the method of subscription of shares to be made in respect of the public finances, the characteristics of the shares issued against contributions are regulated in regulation of fund management i3-University, established by InvImIt SGR S.p.A. 3. InvImIt SGR S.p.A., also in accordance with paragraph 8 ter of article. 33: at) manages, at market conditions, the Fund set up under this Decree; b) provides for the selection of third parties, including, where appropriate, subject to the possible activity of placement of shares issued. 4. In a subsequent Decree will be granted or transferred to the Fund referred to in paragraph 1, subject to identification by the Agenzia del demanio, one or more properties owned by the State. 5. The application of this Decree shall not derive additional burdens to be borne by the public finance. This Decree is transmitted to the supervisory authorities in accordance with current legislation.
Roma, April 22, 2015 the Minister: Padoan Recorded the Court of Auditors on April 28, 2015 control Office acts Ministry of economy and finance, Reg.ne Prev. # 1137