Abstract
The Italian Law Decree of June 22, 2012, N. 83 (converted into law with amendments by Law of 7 August 2012, N. 134), the so–called Development Decree (or Decreto Sviluppo in Italian), with the introduction of Article 32 intervened in order to overcome the difficulties of access to credit for businesses, including small and medium–sized enterprises (SMEs), increasing the possibility of direct access to the capital markets through finance bills that now will have a duration of 36 months. The objective is to align the financial opportunities of the national system with those offered by the most advanced industrial and financial systems in Europe, but also to counter the introduction of Basel III which will lead to a rationing of credit to the economy. In addition to expanding the possibilities of exploiting such a financial instrument that is not yet widespread, the so–called Development Decree allows for issuance in 'paperless' form to promote the circulation and exchange between operators, and changes the tax regime by extending the one applied to bonds which is more favourable.
Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
