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Corporate Governance

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The recent changes to continuous disclosure  obligations under the Corporations Act  have been welcomed by listed companies and their boards but don’t go as far as their stated purpose in the press release accompanying the legislative instrument implementing the changes, so companies will still need to be very careful in providing guidance or making other disclosures to the market.

To face the extraordinary emergency situation caused by the COVID-19 pandemic, the head of the Civil Protection Department issued Ordinances No. 630 of 3 February 2020 and No. 639 of 25 February 2020, introducing a discipline that overall derogates from the ordinary procurement discipline pursuant to the Italian Public Procurement Code (Leg. Decree No. 50/2016).

Subsequently, Law Decree No. 18/2020 of 23 March 2020 (“Cura Italia Decree”), converted into Law No. 27/2020 of 24 April 2020, setting out measures to strengthen the National Health Service and provide economic support for households, workers and firms in connection with the COVID-19 emergency, has introduced further extraordinary measures in the area of public procurement.