2002/581/EC: Commission Decision of 11 December 2001 on the tax measures for banks and banking foundations implemented by Italy (Text with EEA relevance) (notified under document number C(2001) 3955)
Data as of 2026-07-04 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
Without prejudice to Article 2, the State aid to banks which Italy has granted under Law No 461 of 23 December 1998 and Legislative Decree No 153 of 17 May 1999, and in particular on the basis of Articles 16(3) and (5), 22(1), 23(1), 24(1) and 27(2) of Legislative Decree No 153 of 17 May 1999, is incompatible with the common market.
The advantages provided for in Article 27(2) of Legislative Decree No 153 of 17 May 1999 do not constitute state aid in so far as the joint operation of assigning the shares in the capital of the Banca d'Italia to the bank and transferring them to the foundation has no impact on the bank's balance sheet.
Italy shall withdraw the scheme referred to in Article 1.
1. Italy shall take all necessary measures to recover from the beneficiaries the aid granted under the scheme referred to in Article 1 and unlawfully made available to the beneficiaries. 2. Recovery shall be effected without delay and in accordance with the procedures of national law provided that they allow the immediate and effective implementation of the Decision. The aid to be recovered shall include interest from the date on which it was at the disposal of the beneficiaries until the date of its recovery. Interest shall be calculated on the basis of the reference rate used for calculating the grant equivalent of regional aid.
Italy shall inform the Commission, within two months of notification of this Decision, of the measures taken to comply with it.
This Decision is addressed to the Italian Republic. Done at Brussels, 11 December 2001. For the Commission Mario Monti Member of the Commission (1) OJ C 44, 10.2.2001, p. 2. (2) See footnote 1. (3) OJ C 288, 9.10.1999, p. 2. (4) Commission notice pursuant to Article 93(2) of the EC Treaty to other Member States and interested parties concerning aid granted to Banco di Napoli (Case C 40/96; OJ C 328, 1.11.1996, p. 23). (5) Legislative Decree No 466 of 18 December 1997. (6) Legislative Decree No 446 of 15 December 1997. (7) Case T-67/94 Ladbroke Racing Ltd v Commission [1998] ECR II-1. (8) Case T-55/99 Confederación Española de Transporte de Mercancías (CETM) v Commission [2000] ECR II-3207. (9) Case 248/84 Germany v Commission [1987] ECR 4013, paragraphs 17-18; Case C-47/91 Italy v Commission [1994] ECR I-4635, paragraphs 20-21; Case C-75/97 Belgium v Commission [1999] ECR I-3671, paragraph 48; Joined Cases C-15/98 and C-105/99 Italy and Sardegna Lines v Commission [2000] ECR I-8855, at paragraph 51. (10) OJ C 288, 9.10.1999. Since some of the aid was granted after 9 October 1999, these guidelines apply by virtue of point 7.5, paragraph 101. (11) OJ C 74, 10.3.1998, p. 9. (12) Case C-75/97 Kingdom of Belgium v Commission ("Maribel bis/ter" scheme) [1999] ECR I-3671, paragraph 33. (13) Case 173/73 Italy v Commission [1974] ECR 709, paragraph 13. (14) Case 730/79 Philip Morris Holland v Commission [1980] ECR 2671, paragraph 11. (15) Case C-303/88 Italy v Commission [1991] ECR I-1433, paragraph 27. (16) Case C-6/97 Italian Republic v Commission [1999] ECR I-2981, paragraph 16. (17) See Guidelines on national regional aid (OJ C 74, 10.3.1998, p. 9) and in particular points 4.1, 4.4, 4.15. (18) OJ C 288 of 9.10.1999. Since some of the aid was granted after 9 October 1999, these guidelines apply by virtue of point 7.5, paragraph 101. (19) In particular, Law No 218 of 30 July 1990. (20) OJ L 83, 27.3.1999, p. 1. (21) Case C-169/95 Spain v Commission [1997] ECR I-135, paragraph 51. (22) Commission Decision of 20 May 1992 concerning the recapitalisation of two main Sicilian banks (OJ C 160, 26.6.1992, p. 8) and Commission notice pursuant to Article 93(2) of the EC Treaty concerning aid granted by Italy to Banco di Napoli (OJ C 328, 1.11.1996, p. 23). See also Commission Decisions of 29 July 1998 giving conditional approval to the aid granted by Italy to Banco di Napoli (OJ L 116, p. 36) and of 10 November 1999 conditionally approving the aid granted by Italy to the public banks Banco di Sicilia and Sicilcassa (OJ L 256, 10.10.2000, p. 21).
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.