Prime Minister Mario Monti today brought to the Council of Ministers a provision on his own initiative which defines the perimeter and contents of the possible exercise of the powers granted by the decree on the golden share.
In particular – explains a note from Palazzo Chigi – the text defines the regulation for the identification of activities of strategic importance for the national defense and security system.
The provision makes it possible to apply the special powers delegated to the Prime Minister on a proposal from the Minister of Defense and, in the case of companies controlled by the State, on a proposal from the Minister of Economy. The precondition for the exercise of these powers is the existence of a threat of "serious prejudice" to the essential interests of national defense and security.
“Basically – explains Palazzo Chigi – the Prime Minister can exercise his 'special powers' by imposing specific conditions on the purchase of shareholdings; veto the adoption of the most significant corporate resolutions or application of specific conditions, if sufficient to guarantee adequate protection; opposition to the purchase of shareholdings that reach a level such as to compromise the protected interests according to assessments to be made on a case-by-case basis, since it is not possible to resort to abstractly predetermined cases (example: setting minimum thresholds of relevance)”.
Before coming into force, the decree will be submitted to the opinion of the Council of State and communicated to the Commissions.
