MINISTERO DELL'ECONOMIA E DELLE FINANZE
DECRETO 29 dicembre 2014
Approvazione degli studi
professionali. (14A10033)
di
settore
relativi
ad
attivita'
(GU n.301 del 30-12-2014 - Suppl. Straordinario n. 14)
IL MINISTRO DELL'ECONOMIA
E DELLE FINANZE
Visto il decreto del Presidente della Repubblica 29 settembre 1973,
n. 600, recante disposizioni in materia di accertamento delle imposte
sui redditi;
Visto il decreto del Presidente della Repubblica 26 ottobre 1972,
n. 633, recante disposizioni in materia di imposta sul valore
aggiunto;
Visto il testo unico delle imposte sui redditi, approvato con
decreto del Presidente della Repubblica 22 dicembre 1986, n. 917, e
successive modificazioni;
Visto l'art. 62-bis del decreto-legge 30 agosto 1993, n. 331,
convertito con modificazioni dalla legge 29 ottobre 1993, n. 427, che
prevede che gli uffici del Dipartimento delle entrate del Ministero
delle finanze elaborino, in relazione ai vari settori economici,
appositi studi di settore;
Visto il medesimo art. 62-bis del citato decreto-legge n. 331 del
1993, che prevede che gli studi di settore siano approvati con
decreto del Ministro delle finanze;
Visto l'art. 10 della legge 8 maggio 1998, n. 146, e successive
modificazioni, che individua le modalita' di utilizzazione degli
studi di settore in sede di accertamento nonche' le cause di
esclusione dall'applicazione degli stessi;
Visto l'art. 10-bis della legge 8 maggio 1998, n. 146, concernente
le modalita' di revisione ed aggiornamento degli studi di settore;
Visto il decreto del Presidente della Repubblica 31 maggio 1999, n.
195, e successive modificazioni, recante disposizioni concernenti i
tempi e le modalita' di applicazione degli studi di settore;
Considerato che, a seguito delle analisi e delle valutazioni
effettuate sulla base dei dati in possesso dell'Amministrazione
finanziaria, sono emerse cause di non applicabilita' degli studi di
settore;
Visto il decreto del Ministro delle finanze 10 novembre 1998 e
successive modificazioni, che ha istituito la Commissione di esperti
prevista dall'art. 10, comma 7, della legge n. 146 del 1998,
modificata con successivi decreti del 5 febbraio 1999, del 24 ottobre
2000, del 2 agosto 2002, del 14 luglio 2004, 27 gennaio 2007, 19
marzo 2009, 4 dicembre 2009, 20 ottobre 2010, 29 marzo 2011, 8
ottobre 2012 e 17 dicembre 2013;
Visto l'art. 23 del decreto legislativo 30 luglio 1999, n. 300, che
ha istituito
il
Ministero
dell'economia
e
delle
finanze,
attribuendogli le funzioni dei Ministeri del tesoro, del bilancio e
della programmazione economica e delle finanze;
Visto l'art. 57 del decreto legislativo 30 luglio 1999, n. 300, e
successive modificazioni, che ha istituito le agenzie fiscali;
Visto il provvedimento del Direttore dell'Agenzia delle entrate 16
novembre 2007, che ha approvato la tabella di classificazione delle
attivita' economiche;
Visto il decreto del Ministro dell'economia e delle finanze 11
febbraio 2008, concernente la semplificazione degli obblighi di
Pagina 1 di 6
iww - italian wide web srl
annotazione separata dei componenti rilevanti ai fini degli studi di
settore;
Visto l'art. 8 del decreto-legge del 29 novembre 2008, n. 185,
convertito con la legge n. 2 del 28 gennaio 2009, recante misure
urgenti per il sostegno a famiglie, lavoro, occupazione e impresa e
per ridisegnare in funzione anti-crisi
il
quadro
strategico
nazionale;
Visto il decreto del Ministro dell'economia e delle finanze 19
maggio 2009, recante disposizioni sull'elaborazione degli studi di
settore su base regionale o comunale;
Visto il provvedimento del Direttore dell'Agenzia delle entrate 27
maggio 2013, e successive modificazioni, concernente l'approvazione
dei modelli per la comunicazione dei dati rilevanti ai
fini
dell'applicazione degli studi di settore da utilizzare per il periodo
d'imposta 2012;
Visto il decreto del Ministro dell'economia e delle finanze 24
marzo 2014, concernente l'approvazione di modifiche agli studi di
settore, relativi al periodo di imposta 2013;
Visto il provvedimento del Direttore dell'Agenzia delle entrate 21
febbraio 2014, concernente l'approvazione del programma di revisione
degli studi di settore applicabili a partire dal periodo d'imposta
2014;
Acquisito il parere della predetta Commissione di esperti in data
10 dicembre 2014;
Decreta:
Art. 1
Approvazione degli studi di settore
1. Sono approvati, in base all'art. 62-bis del decreto-legge 30
agosto 1993, n. 331, gli studi di settore relativi alle seguenti
attivita' professionali:
a) studio di settore VK29U (che sostituisce lo studio di settore
UK29U) - Attivita' di studio geologico e di prospezione geognostica e
mineraria, codice attivita' 71.12.50; Ricerca e sviluppo sperimentale
nel campo della geologia, codice attivita' 72.19.01;
b) studio di settore WK01U (che sostituisce lo studio di settore
VK01U) - Attivita' degli studi notarili, codice attivita' 69.10.20;
c) studio di settore WK08U (che sostituisce lo studio di settore
VK08U) - Altre attivita' dei disegnatori grafici, codice attivita'
74.10.29; Attivita' dei disegnatori tecnici,
codice
attivita'
74.10.30;
d) studio di settore WK16U (che sostituisce lo studio di settore
VK16U) - Amministrazione di condomini e gestione di beni immobili per
conto terzi, codice attivita' 68.32.00; Servizi integrati di gestione
agli edifici, codice attivita' 81.10.00;
e) studio di settore WK20U (che sostituisce lo studio di settore
VK20U) - Attivita' svolta da psicologi, codice attivita' 86.90.30;
f) studio di settore WK56U (che sostituisce lo studio di settore
VK56U) - Laboratori di analisi cliniche, codice attivita' 86.90.12.
2. Gli elementi necessari alla determinazione presuntiva dei
compensi e dei ricavi relativi agli studi di settore indicati nel
comma 1 sono individuati sulla base
della
nota
tecnica
e
metodologica, delle tabelle dei coefficienti nonche' della lista
delle variabili per l'applicazione dello studio di cui agli allegati:
1) per lo studio di settore VK29U;
2) per lo studio di settore WK01U;
3) per lo studio di settore WK08U;
Pagina 2 di 6
iww - italian wide web srl
4) per lo studio di settore WK16U;
5) per lo studio di settore WK20U;
6) per lo studio di settore WK56U.
3. Il correttivo relativo agli apprendisti, applicabile allo studio
di cui all'allegato n. 3 e' individuato sulla base della nota tecnica
e metodologica in allegato n. 7.
4. La neutralizzazione relativa agli aggi ed ai ricavi fissi,
applicabile agli studi di cui agli allegati n. 3 e n. 4 (WK08U e
WK16U), e' individuata sulla base della nota tecnica e metodologica
in allegato n. 8.
5. Gli elementi necessari per il calcolo del «compenso o ricavo
minimo», relativi agli studi di settore di cui agli allegati da n. 1
a n. 6 sono riportati in allegato n. 9.
6. Il programma informatico, realizzato dall'Agenzia delle entrate,
di ausilio all'applicazione degli studi di settore, segnala anche la
coerenza agli specifici indicatori di coerenza economica e di
normalita' economica.
7. Gli studi di settore approvati con il presente decreto si
applicano ai contribuenti esercenti arti e professioni che svolgono
in maniera prevalente le attivita' indicate nel comma 1, fermo
restando il disposto del successivo art. 2. Gli studi di settore
WK08U, e WK16U si applicano altresi' ai contribuenti esercenti
attivita' d'impresa che svolgono in maniera prevalente le attivita'
indicate, rispettivamente, alle lettere c) e d) del comma 1, fermo
restando il disposto del successivo art. 2 e tenuto conto delle
disposizioni di cui al decreto 11 febbraio 2008. In caso di esercizio
di piu' attivita' d'impresa, ovvero di piu' attivita' professionali,
per attivita' prevalente, con riferimento alla quale si applicano gli
studi di settore, si intende quella da cui deriva, nel periodo
d'imposta, la maggiore entita', rispettivamente, dei ricavi o dei
compensi.
8. Gli studi di settore approvati con il presente decreto si
applicano, ai fini dell'accertamento, a decorrere dal periodo di
imposta in corso alla data del 31 dicembre 2014. Ai sensi dell'art. 8
del decreto-legge del 29 novembre 2008, n. 185, gli studi possono
essere integrati per tener conto dello stato di crisi economica e dei
mercati.
Art. 2
Categorie di contribuenti alle quali
non si applicano gli studi di settore
1. Gli studi di settore approvati con il presente decreto non si
applicano:
a) nei confronti dei contribuenti che hanno dichiarato compensi di
cui all'art. 54, comma 1, ovvero ricavi di cui all'art. 85, comma 1,
esclusi quelli di cui alle lettere c), d) ed e) del testo unico delle
imposte sui redditi, approvato con decreto del Presidente della
Repubblica 22 dicembre 1986, n. 917, e successive modificazioni, di
ammontare superiore a euro 5.164.569;
b) nei confronti delle societa' cooperative, societa' consortili e
consorzi che operano esclusivamente a favore delle imprese socie o
associate;
c) nei confronti delle societa' cooperative costituite da utenti
non imprenditori che operano esclusivamente a favore degli utenti
stessi.
Art. 3
Variabili delle attivita' professionali o delle imprese
Pagina 3 di 6
iww - italian wide web srl
1.
L'individuazione
delle
variabili
da
utilizzare
per
l'applicazione degli studi di settore approvati con il presente
decreto e' stata effettuata sulla base delle informazioni contenute
nei modelli per la comunicazione dei dati rilevanti ai
fini
dell'applicazione degli studi di
settore,
approvati
con
il
provvedimento del Direttore dell'Agenzia delle entrate 27 maggio
2013, e successive modificazioni.
Art. 4
Determinazione del reddito imponibile
1. Sulla base
degli
studi
di
settore
sono
determinati
presuntivamente i compensi di cui all'art. 54, comma 1, ovvero i
ricavi di cui all'art. 85 del testo unico delle imposte sui redditi
approvato con decreto del Presidente della Repubblica 22 dicembre
1986, n. 917, e successive modificazioni, ad esclusione di quelli
previsti dalle lettere c), d), e) ed f), del comma 1 del medesimo
articolo, del citato testo unico, nonche' dei ricavi derivanti dalla
vendita di generi soggetti ad aggio o ricavo fisso.
2. Ai fini della determinazione del reddito di lavoro autonomo
l'ammontare dei compensi di cui al comma 1 e' aumentato degli altri
componenti positivi, compresi i proventi e gli interessi moratori e
dilatori di cui all'art. 6, comma 2, del menzionato testo unico, ed
e' ridotto dei componenti negativi deducibili. Ai fini
della
determinazione degli importi relativi alle variabili di cui all'art.
3 del presente decreto devono essere considerate le spese sostenute
nell'esercizio dell'attivita' anche se non dedotte in sede di
dichiarazione dei redditi.
3. Ai fini della determinazione del reddito d'impresa l'ammontare
dei ricavi di cui al comma 1 e' aumentato degli altri componenti
positivi, compresi i ricavi di cui all'art. 85, comma 1, lettere c),
d), e) ed f), del menzionato testo unico, nonche' i ricavi derivanti
dalla vendita di generi soggetti ad aggio o ricavo fisso, ed e'
ridotto dei componenti
negativi
deducibili.
Ai
fini
della
determinazione degli importi relativi alle variabili di cui all'art.
3 del presente decreto devono essere considerati i componenti
negativi inerenti l'esercizio dell'attivita' anche se non dedotti in
sede di dichiarazione dei redditi.
4. Per le imprese che eseguono opere, forniture e servizi pattuiti
come oggetto unitario e con tempo di esecuzione ultrannuale i ricavi
dichiarati, da confrontare con quelli presunti in base allo studio di
settore, vanno aumentati delle rimanenze finali e diminuiti delle
esistenze iniziali valutate ai sensi dell'art. 93, commi da 1 a 4,
del testo unico delle imposte sui redditi approvato con decreto del
Presidente della Repubblica 22 dicembre 1986, n. 917, e successive
modificazioni.
Art. 5
Comunicazione dei dati rilevanti ai fini
dell'applicazione degli studi di settore
1. I contribuenti ai quali si applicano gli studi di settore
comunicano, in sede di dichiarazione dei redditi, i dati rilevanti ai
fini dell'applicazione degli studi stessi.
2. I modelli di dichiarazione, le relative istruzioni e le
specifiche tecniche per la trasmissione telematica dei dati sono resi
disponibili in formato elettronico dall'Agenzia delle entrate.
Art. 6
Pagina 4 di 6
iww - italian wide web srl
Indicatori di coerenza economica
1. Per gli studi di settore di cui al comma 1, dell'art. 1 del
presente decreto che applicano l'indicatore «Valore negativo del
costo del venduto, comprensivo del costo per la produzione di
servizi», approvato con il decreto del Ministro dell'economia e delle
finanze 24 marzo 2014, il Costo del venduto comprensivo del costo per
la produzione di servizi e' calcolato come: [Esistenze iniziali
relative a merci, prodotti finiti, materie prime e sussidiarie,
semilavorati e ai servizi non di durata ultrannuale (escluse quelle
relative a prodotti soggetti ad aggio o ricavo fisso) + Costi per
l'acquisto di materie prime, sussidiarie, semilavorati e merci
(esclusi quelli relativi a prodotti soggetti ad aggio o ricavo fisso)
e per la produzione di servizi - Beni distrutti o sottratti (esclusi
quelli soggetti ad aggio o ricavo fisso)] + (Esistenze iniziali
relative ad opere, forniture e servizi di durata ultrannuale di cui
all'art. 93, comma 5, del TUIR - Beni distrutti o sottratti) Rimanenze finali.
Il presente decreto sara' pubblicato nella Gazzetta Ufficiale della
Repubblica italiana.
Roma, 29 dicembre 2014
Il Ministro: Padoan
Allegato 1
NOTA TECNICA E METODOLOGICA
STUDIO DI SETTORE VK29U
STUDI DI GEOLOGIA
Parte di provvedimento in formato grafico
Allegato 2
NOTA TECNICA E METODOLOGICA
STUDIO DI SETTORE WK01U
STUDI NOTARILI
Parte di provvedimento in formato grafico
Allegato 3
NOTA TECNICA E METODOLOGICA
STUDIO DI SETTORE WK08U
ATTIVITA' DEI DISEGNATORI TECNICI
Parte di provvedimento in formato grafico
Allegato 4
NOTA TECNICA E METODOLOGICA
STUDIO DI SETTORE WK16U
AMMINISTRAZIONE DI CONDOMINI,
GESTIONE DI BENI IMMOBILI PER CONTO TERZI
E SERVIZI INTEGRATI DI GESTIONE AGLI EDIFICI
Parte di provvedimento in formato grafico
Allegato 5
NOTA TECNICA E METODOLOGICA
STUDIO DI SETTORE WK20U
ATTIVITA' PROFESSIONALE
SVOLTA DA PSICOLOGI
Parte di provvedimento in formato grafico
Pagina 5 di 6
iww - italian wide web srl
Allegato 6
NOTA TECNICA E METODOLOGICA
STUDIO DI SETTORE WK56U
LABORATORI DI ANALISI CLINICHE
( ATTIVITA' DI LAVORO AUTONOMO )
Parte di provvedimento in formato grafico
Allegato 7
NOTA TECNICA E METODOLOGICA
CORRETTIVO APPRENDISTI
Parte di provvedimento in formato grafico
Allegato 8
NOTA TECNICA E METODOLOGICA
NEUTRALIZZAZIONE DEGLI AGGI
O RICAVI FISSI
Parte di provvedimento in formato grafico
Allegato 9
NOTA TECNICA E METODOLOGICA
ELEMENTI NECESSARI PER IL CALCOLO
DEL "COMPENSO O RICAVO MINIMO"
CON I MINIMI QUADRATI GENERALIZZATI
STUDI DI SETTORE DEI PROFESSIONISTI
Parte di provvedimento in formato grafico
Pagina 6 di 6
iww - italian wide web srl
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$//(*$72
1 27$ 7 (&1,&$( 0 (72'2/2*,&$ 678',2',6(7725(9.8
678',',*(2/2*,$
— 4 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&5,7(5,3(5/·(92/8=,21('(//2678',2',6(7725(
/
DSSOLFD]LRQHGHOORVWXGLRGLVHWWRUHDWWULEXLVFHDLFRQWULEXHQWLXQ´FRPSHQVRSRWHQ]LDOHµ7DOHFRPSHQVRYLHQH
VWLPDWRWHQHQGRFRQWRVLDGLYDULDELOLFRQWDELOLVLDGLYDULDELOLVWUXWWXUDOLFKHLQIOXHQ]DQRLOULVXOWDWRHFRQRPLFR
GHO VRJJHWWR HVHUFHQWH DWWLYLWj SURIHVVLRQDOH GL VHJXLWR ´SURIHVVLRQLVWDµ DQFKH FRQ ULIHULPHQWR DO FRQWHVWR
WHUULWRULDOH LQ FXL OR VWHVVR RSHUD /
DSSOLFD]LRQH GHOOR VWXGLR FRQVHQWH LQROWUH GL YDOXWDUH OD FRHUHQ]D H OD
QRUPDOLWjHFRQRPLFDGHOSURIHVVLRQLVWDLQUHOD]LRQHDOVHWWRUHHFRQRPLFRGLDSSDUWHQHQ]D
$ WDOH VFRSR QHOO·DPELWR GHOOR VWXGLR YHQJRQR LQGLYLGXDWH OH UHOD]LRQL WUD OH YDULDELOL FRQWDELOL H OH YDULDELOL
VWUXWWXUDOLSHUDQDOL]]DUHLGLYHUVLPRGHOOLRUJDQL]]DWLYLLPSLHJDWLQHOO·HVSOHWDPHQWRGHOO·DWWLYLWj
/·HYROX]LRQH GHOOR VWXGLR GL VHWWRUH q ILQDOL]]DWD D FRJOLHUH HYHQWXDOL FDPELDPHQWL VWUXWWXUDOL PRGLILFKH GHL
PRGHOOLRUJDQL]]DWLYLHYDULD]LRQLGLPHUFDWRDOO·LQWHUQRGHOVHWWRUHHFRQRPLFRHSUHVXSSRQHXQ·DWWLYLWjGLDQDOLVL
HULFHUFDHFRQRPLFDFKHYLHQHFRQGRWWDDWWLQJHQGRDIRQWLLQIRUPDWLYHSXEEOLFKHHQRQSXEEOLFKH
/HIRQWLSXEEOLFKHVRQRUDSSUHVHQWDWHGDHODERUD]LRQLGLHQWLRVRFLHWjFKHVYROJRQRULFHUFKHGLWLSRHFRQRPLFR
VWDWLVWLFR,VWDW&HQVLVHFFHFKHIRUQLVFRQRGDWLHLQIRUPD]LRQLVXOO·DQGDPHQWRHFRQRPLFRGHLPHUFDWLVXOOD
VWUXWWXUDHODGLPHQVLRQHGHLSULQFLSDOLVHWWRULHFRQRPLFLHVXOODFRQJLXQWXUDHFRQRPLFD
2OWUH DOOH IRQWL GL FDUDWWHUH SXEEOLFR FKH IRUQLVFRQR LQIRUPD]LRQL SL JHQHUDOL YHQJRQR XWLOL]]DWH IRQWL
VSHFLILFKH VHWWRULDOL ULYLVWH VSHFLDOL]]DWH SDUWHFLSD]LRQH D VHPLQDUL H FRQYHJQL VSHFLDOLVWLFL SXEEOLFD]LRQL GHL
SULQFLSDOL LVWLWXWL GL ULFHUFD LQGDJLQL FDPSLRQDULH HFF VL WUDWWD GL IRQWL FKH LOOXVWUDQR O·DUWLFROD]LRQH HG
HYROX]LRQH GHOO·RIIHUWD VLD LQ WHUPLQL GL PRGHOOL RUJDQL]]DWLYL DGRWWDWL FKH GL JDPPD GL VHUYL]L SURIHVVLRQDOL
HURJDWL O·DQGDPHQWR H OD FRPSRVL]LRQH GHOOD GRPDQGD O·LPSDWWR GL SURYYHGLPHQWL QRUPDWLYL VXOO·DWWLYLWj
VXOO·RUJDQL]]D]LRQHHVXOODVWUXWWXUDGHOORVWXGLRSURIHVVLRQDOH
8Q VXSSRUWR SL GLUHWWR H RSHUDWLYR SURYLHQH GD XQD UHWH GL WHFQLFL FRVWLWXLWD GD LVWLWXWL XQLYHUVLWDUL FHQWUL GL
ULFHUFDGRFHQWLHULFHUFDWRULFKHRSHUDDQFKHWUDPLWHO·XWLOL]]RGLSDQHOGLLPSUHVHHSURIHVVLRQLVWL
'LVHJXLWRYHQJRQRHVSRVWLLFULWHULVHJXLWLSHUODFRVWUX]LRQHGHOORVWXGLRGLVHWWRUH9.8HYROX]LRQHGHOOR
VWXGLR8.8
/H DWWLYLWj HFRQRPLFKH RJJHWWR GHOOR VWXGLR GL VHWWRUH 9.8 VRQR TXHOOH UHODWLYH DL VHJXHQWL FRGLFL $7(&2
•
$WWLYLWjGLVWXGLRJHRORJLFRHGLSURVSH]LRQHJHRJQRVWLFDHPLQHUDULD
•
5LFHUFDHVYLOXSSRVSHULPHQWDOHQHOFDPSRGHOODJHRORJLD
/·HYROX]LRQHGHOORVWXGLRGLVHWWRUHqVWDWDFRQGRWWDDQDOL]]DQGROHLQIRUPD]LRQLFRQWHQXWHQHOPRGHOOR8.8
SHUODFRPXQLFD]LRQHGHLGDWLULOHYDQWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUHSHULOSHULRGRG·LPSRVWD
WUDVPHVVRGDLFRQWULEXHQWLTXDOHDOOHJDWRDOPRGHOOR81,&2
,FRQWULEXHQWLLQWHUHVVDWLVRQRULVXOWDWLSDULD
1HOOD SULPD IDVH GL DQDOLVL SRVL]LRQL VRQR VWDWH VFDUWDWH LQ TXDQWR QRQ XWLOL]]DELOL QHOOH VXFFHVVLYH IDVL
GHOO·HODERUD]LRQH GHOOR VWXGLR GL VHWWRUH FDVL GL FHVVD]LRQH GL DWWLYLWj VLWXD]LRQL GL QRQ QRUPDOH VYROJLPHQWR
GHOO·DWWLYLWjFRQWULEXHQWLIRUIHWDULFRPSHQVLGLFKLDUDWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUHPDJJLRULGL
HXUR
6XL GDWL FRQWHQXWL QHL PRGHOOL VWXGL GL VHWWRUH GHOOD UHVWDQWH SODWHD VRQR VWDWH FRQGRWWH DQDOLVL VWDWLVWLFKH SHU
ULOHYDUHODFRPSOHWH]]DODFRUUHWWH]]DHODFRHUHQ]DGHOOHLQIRUPD]LRQLLQHVVLFRQWHQXWH
7DOL DQDOLVL KDQQR FRPSRUWDWR DL ILQL GHOOD GHILQL]LRQH GHO FDPSLRQH GHOOR VWXGLR OR VFDUWR GL XOWHULRUL SRVL]LRQL,PRWLYLGLVFDUWRVRQRVWDWL
•
•
•
•
•
•
TXDGUR'HOHPHQWLVSHFLILFLGHOO
DWWLYLWjQRQFRPSLODWR
TXDGUR*HOHPHQWLFRQWDELOLQRQFRPSLODWR
FRPXQHGHOTXDGUR%XQLWjORFDOHGHVWLQDWDDOO·HVHUFL]LRGHOO·DWWLYLWjHRDQDJUDILFRPDQFDQWHRHUUDWR
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLUHODWLYHDOODWLSRORJLDGHOO·DWWLYLWjTXDGUR'
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLUHODWLYHDOOHDUHHVSHFLDOLVWLFKHTXDGUR'
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLUHODWLYHDOODWLSRORJLDGHOODFOLHQWHODTXDGUR'
— 5 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
•
Serie generale - n. 301
LQFRQJUXHQ]HIUDLGDWLVWUXWWXUDOLHLGDWLFRQWDELOL
$VHJXLWRGHJOLVFDUWLHIIHWWXDWLLOQXPHURGHLPRGHOOLRJJHWWRGHOOHVXFFHVVLYHDQDOLVLqULVXOWDWRSDULD
,'(17,),&$=,21('(,*5833,202*(1(,
3HUVXGGLYLGHUHLSURIHVVLRQLVWLLQJUXSSLRPRJHQHLVXOODEDVHGHJOLDVSHWWLVWUXWWXUDOLqVWDWDVHJXLWDXQDVWUDWHJLD
GLDQDOLVLFKHFRPELQDLQVHTXHQ]DGXHWHFQLFKHVWDWLVWLFKHGLWLSRPXOWLYDULDWR
•
•
XQ·DQDOLVLIDWWRULDOHGHOWLSR$QDO\VHGHVGRQQpHVHQHOODIDWWLVSHFLHO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOL
XQSURFHGLPHQWRGL&OXVWHU$QDO\VLV
/·$QDOLVL LQ &RPSRQHQWL 3ULQFLSDOL q XQD WHFQLFD VWDWLVWLFD FKH SHUPHWWH GL ULGXUUH LO QXPHUR GHOOH YDULDELOL
RULJLQDULHSXUFRQVHUYDQGRJUDQSDUWHGHOO·LQIRUPD]LRQHLQL]LDOH$WDOILQHYHQJRQRLGHQWLILFDWHQXRYHYDULDELOL
GHWWHFRPSRQHQWLSULQFLSDOLWUDORURRUWRJRQDOLOLQHDUPHQWHLQGLSHQGHQWLLQFRUUHODWH
/HYDULDELOLSUHVHLQHVDPHQHOO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOLVRQRTXHOOHSUHVHQWLLQWXWWLLTXDGULGHOPRGHOOR
DGHFFH]LRQHGHOOHYDULDELOLGHOTXDGURGHJOLHOHPHQWLFRQWDELOL7DOHVFHOWDQDVFHGDOO·HVLJHQ]DGLFDUDWWHUL]]DUHL
VRJJHWWL LQ EDVH DL SRVVLELOL PRGHOOL RUJDQL]]DWLYL DOOH GLYHUVH PRGDOLWj GL VYROJLPHQWR GHOO·DWWLYLWj HFF WDOH
FDUDWWHUL]]D]LRQH q SRVVLELOH VROR XWLOL]]DQGR OH LQIRUPD]LRQL UHODWLYH DOOD VWUXWWXUD GHL PRGHOOL RUJDQL]]DWLYL DO
PHUFDWRGLULIHULPHQWRHDWXWWLTXHJOLHOHPHQWLVSHFLILFLFKHFDUDWWHUL]]DQROHGLYHUVHUHDOWjSURIHVVLRQDOL
1HOO·DSSOLFD]LRQH GHOO·$QDOLVL LQ &RPSRQHQWL 3ULQFLSDOL q VWDWD VFHOWD OD VROX]LRQH PLJOLRUH LQ WHUPLQL GL
VLJQLILFDWLYLWjVWDWLVWLFDHGHFRQRPLFD3HUWDQWRVRQRVWDWHVFHOWHOHFRPSRQHQWLSULQFLSDOLFKHULHVFRQRDVSLHJDUH
OD PDJJLRU SDUWH GHOOD YDULDQ]D LQL]LDOH H FKH FRQVHQWRQR VXOOD EDVH GHO FULWHULR GHOO·LQWHUSUHWDELOLWj GL
UDSSUHVHQWDUHLGLYHUVLDVSHWWLVWUXWWXUDOLGHOOHDWWLYLWjRJJHWWRGLVWXGLR
/DWHFQLFDVWDWLVWLFDGHOOD&OXVWHU$QDO\VLVDSSOLFDWDDLULVXOWDWLGHOO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOLSHUPHWWHGL
LGHQWLILFDUHJUXSSLRPRJHQHLGLSURIHVVLRQLVWLFOXVWHULQWDOPRGRqSRVVLELOHUDJJUXSSDUHLSURIHVVLRQLVWLFRQ
FDUDWWHULVWLFKHVWUXWWXUDOLHGRUJDQL]]DWLYHVLPLOL
/·XWLOL]]R FRPELQDWR GHOOH GXH WHFQLFKH q SUHIHULELOH ULVSHWWR D XQ·DSSOLFD]LRQH GLUHWWD GHOOD &OXVWHU $QDO\VLV
SRLFKpULGXFHQGRFRQO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOLLOQXPHURGLYDULDELOLVXFXLHIIHWWXDUHLOSURFHGLPHQWR
GLFODVVLILFD]LRQHO·RSHUD]LRQHGLFOXVWHULQJULVXOWDPHQRFRPSOHVVDHSLSUHFLVD
, JUXSSL RPRJHQHL LQGLYLGXDWL VRQR YDOXWDWL DQFKH LQ WHUPLQL GL VLJQLILFDWLYLWj HFRQRPLFD SHU YHULILFDUQH
O·DGHUHQ]DDOODFRQFUHWDUHDOWjVHWWRULDOH
1HO SURFHGLPHQWR GL FOXVWHULQJ DGRWWDWR TXLQGL O·RPRJHQHLWj GHL JUXSSL GHYH HVVHUH LQWHUSUHWDWD QRQ WDQWR LQ
UDSSRUWRDOOHFDUDWWHULVWLFKHGHOOHVLQJROHYDULDELOLTXDQWRLQIXQ]LRQHGHOOHSULQFLSDOLLQWHUUHOD]LRQLHVLVWHQWLWUDOH
YDULDELOLHVDPLQDWHFKHFRQFRUURQRDGHILQLUHLOSURILORGHLVLQJROLJUXSSL
/DGHVFUL]LRQHGHLJUXSSLRPRJHQHLqULSRUWDWDQHO6XE$OOHJDWR$
'(),1,=,21('(//$)81=,21(',&203(162
8QDYROWDVXGGLYLVLLSURIHVVLRQLVWLLQJUXSSLRPRJHQHLqQHFHVVDULRGHWHUPLQDUHSHUFLDVFXQJUXSSRRPRJHQHR
OD IXQ]LRQH PDWHPDWLFD FKH PHJOLR VL DGDWWD DOO·DQGDPHQWR GHL FRPSHQVL GHL SURIHVVLRQLVWL DSSDUWHQHQWL DOOR
VWHVVRJUXSSR3HUGHWHUPLQDUHWDOHIXQ]LRQHVLqULFRUVRDOOD5HJUHVVLRQH/LQHDUH0XOWLSOD
/D 5HJUHVVLRQH /LQHDUH 0XOWLSOD q XQD WHFQLFD VWDWLVWLFD FKH SHUPHWWH GL LQWHUSRODUH L GDWL FRQ XQ PRGHOOR
VWDWLVWLFRPDWHPDWLFR FKH GHVFULYH O·DQGDPHQWR GHOOD YDULDELOH GLSHQGHQWH LQ IXQ]LRQH GL XQD VHULH GL YDULDELOL
LQGLSHQGHQWL
/D VWLPD GHOOD ´IXQ]LRQH GL FRPSHQVRµ q VWDWD HIIHWWXDWD LQGLYLGXDQGR OD UHOD]LRQH WUD LO FRPSHQVR YDULDELOH
GLSHQGHQWHHLGDWLFRQWDELOLHVWUXWWXUDOLGHLSURIHVVLRQLVWLYDULDELOLLQGLSHQGHQWL
1HOODIDVHGL&OXVWHU$QDO\VLVDOILQHGLJDUDQWLUHODPDVVLPDRPRJHQHLWjGHLVRJJHWWLDSSDUWHQHQWLDFLDVFXQJUXSSRYHQJRQRFODVVLILFDWH
VROR OH RVVHUYD]LRQL FKH SUHVHQWDQR FDUDWWHULVWLFKH VWUXWWXUDOL VLPLOL ULVSHWWR D TXHOOH SURSULH GL XQR VSHFLILFR JUXSSR RPRJHQHR 1RQ
YHQJRQR LQYHFH SUHVL LQ FRQVLGHUD]LRQH DL ILQL GHOOD FODVVLILFD]LRQH L VRJJHWWL FKH SRVVLHGRQR DVSHWWL VWUXWWXUDOL ULIHULELOL
FRQWHPSRUDQHDPHQWH D GXH R SL JUXSSL RPRJHQHL 8JXDOPHQWH QRQ YHQJRQR FODVVLILFDWH OH RVVHUYD]LRQL FKH SUHVHQWDQR XQ SURILOR
VWUXWWXUDOHPROWRGLVVLPLOHULVSHWWRDOO·LQVLHPHGHLFOXVWHULQGLYLGXDWL
— 6 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
Ë RSSRUWXQR ULOHYDUH FKH SULPD GL GHILQLUH LO PRGHOOR GL UHJUHVVLRQH q VWDWD HIIHWWXDWD XQ·DQDOLVL VXL GDWL GHL
SURIHVVLRQLVWLSHUYHULILFDUHOHFRQGL]LRQLGLFRHUHQ]DGHLGDWLQHOO·HVHUFL]LRGHOO·DWWLYLWjHSHUVFDUWDUHLVRJJHWWL
DQRPDOL FLz VL q UHVR QHFHVVDULR DO ILQH GL HYLWDUH SRVVLELOL GLVWRUVLRQL QHOOD GHWHUPLQD]LRQH GHOOD ´IXQ]LRQH GL
FRPSHQVRµ
$ WDO ILQH q VWDWR VHOH]LRQDWR LQ EDVH DOOD VXD FDSDFLWj GL LQGLYLGXDUH DQRPDOLH QHOOD UHOD]LRQH WUD OH YRFL
HVDPLQDWHLOVHJXHQWHLQGLFDWRUHGLQDWXUDHFRQRPLFRFRQWDELOH
•
,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQHVXLFRPSHQVL
/DIRUPXODGHOO·LQGLFDWRUHHFRQRPLFRFRQWDELOHqULSRUWDWDQHO6XE$OOHJDWR&
6XFFHVVLYDPHQWHDLILQLGHOODGHWHUPLQD]LRQHGHOFDPSLRQHGLULIHULPHQWRVRQRVWDWLHVFOXVLLSURIHVVLRQLVWLFKH
QRQULVSHWWDYDQROHFRQGL]LRQLGLQRUPDOLWjHFRQRPLFDSHUO·LQGLFDWRUHVRSUDFLWDWR
&RVuGHILQLWRLOFDPSLRQHGLULIHULPHQWRVLqSURFHGXWRDOODGHILQL]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRµSHUFLDVFXQ
JUXSSRRPRJHQHR
3HUODGHWHUPLQD]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRµVRQRVWDWHXWLOL]]DWHYDULDELOLFRQWDELOLYDULDELOLVWUXWWXUDOLH
YDULDELOL WHUULWRULDOL /D VFHOWD GHOOH YDULDELOL VLJQLILFDWLYH q VWDWD HIIHWWXDWD FRQ LO PHWRGR ´VWHSZLVHµ 8QD YROWD
VHOH]LRQDWH OH YDULDELOL OD GHWHUPLQD]LRQH GHOOD ´IXQ]LRQH GL FRPSHQVRµ q RWWHQXWD DSSOLFDQGR LO PHWRGR GHL
PLQLPLTXDGUDWLJHQHUDOL]]DWLFKHFRQVHQWHGLFRQWUROODUHO·HYHQWXDOHSUHVHQ]DGLHWHURVFKHGDVWLFLWjFRQQHVVDDOOD
YDULDELOLWjOHJDWDDGDVSHWWLGLPHQVLRQDOL
,QSDUWLFRODUHOHYDULDELOLFRQVLGHUDWHDLILQLGHOODUHJUHVVLRQHVRQRVWDWH
•
•
LO1XPHURGHO7RWDOHLQFDULFKLGHOOHDWWLYLWjVWLPDWHDWWUDYHUVRLOFRQIURQWRGHOFRPSHQVRPHGLRFRQODVRJOLD
LQIHULRUHGLULIHULPHQWR
OH YDULDELOL FRQWDELOL OH YDULDELOL WHUULWRULDOL H OH ´2UH GHGLFDWH DOO·DWWLYLWjµ LQ IXQ]LRQH GHOO·LQFLGHQ]D VXL
FRPSHQVLGHO7RWDOHLQFDULFKLGLWXWWHOHDOWUHDWWLYLWjQRQULFRPSUHVHDOSXQWRSUHFHGHQWH
1HOODGHILQL]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRµVLqWHQXWRFRQWRGHOOHSRVVLELOLGLIIHUHQ]HGLULVXOWDWLHFRQRPLFL
OHJDWHDOOXRJRGLVYROJLPHQWRGHOO·DWWLYLWjLQPRGRGDLQGLYLGXDUHXOWHULRULGLIIHUHQ]HWHUULWRULDOLROWUHDTXHOOHJLj
ULOHYDWHFRQOD&OXVWHU$QDO\VLV
,QSDUWLFRODUHSHUO·LQVLHPHGHOOHDWWLYLWjGLFXLDOSULPRSXQWRVRQRVWDWHFRQVLGHUDWHDQFKHOHGLIIHUHQ]HFKH
SRVVRQR HPHUJHUH D OLYHOOR SURYLQFLDOH QHOOR VYROJLPHQWR GHOO·DWWLYLWj 'L FRQVHJXHQ]D OH VRJOLH LQIHULRUL GL
ULIHULPHQWR XWLOL]]DWH DL ILQL GHOOD VWLPD GHL FRPSHQVL VRQR VWDWH DUWLFRODWH RYH TXHVWR IRVVH ULVXOWDWR
VLJQLILFDWLYR D OLYHOOR SURYLQFLDOH /·LQGLYLGXD]LRQH GL WDOL YDORUL q VWDWD RSHUDWD VFHJOLHQGR TXHOOL FKH SRVVRQR
/·LQGLFDWRUHYHULILFDODSODXVLELOLWjWUDODYRFH´DOWUHFRPSRQHQWLQHJDWLYHµHGLOWRWDOHGHLFRPSHQVL1HOFDOFRORGHOOHDOWUHFRPSRQHQWL
QHJDWLYHQRQVLWLHQHFRQWRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLLPPRELOLHDEHQLVWUXPHQWDOLPRELOL
9HGL VH]LRQH ´$QDOLVL GHOOD 1RUPDOLWj (FRQRPLFDµ 6L ID SUHVHQWH FKH DL VROL ILQL LQGLFDWL SHU O·LQGLFDWRUH ´,QFLGHQ]D GHOOH DOWUH
FRPSRQHQWL QHJDWLYH DO QHWWR GHL FDQRQL GL ORFD]LRQH VXL FRPSHQVLµ VL ID ULIHULPHQWR DL FRPSHQVL GLFKLDUDWL QHO GHQRPLQDWRUH GHOOD
UHODWLYDIRUPXOD
,O PHWRGR VWHSZLVH XQLVFH GXH WHFQLFKH VWDWLVWLFKH SHU OD VFHOWD GHO PLJOLRU PRGHOOR GL VWLPD OD UHJUHVVLRQH IRUZDUG ´LQ DYDQWLµ H OD
UHJUHVVLRQHEDFNZDUG´LQGLHWURµ/DUHJUHVVLRQHIRUZDUGSUHYHGHGLSDUWLUHGDXQPRGHOORVHQ]DYDULDELOLHGLLQWURGXUUHSDVVRGRSRSDVVR
OD YDULDELOH SL VLJQLILFDWLYD PHQWUH OD UHJUHVVLRQH EDFNZDUG LQL]LD FRQVLGHUDQGR QHO PRGHOOR WXWWH OH YDULDELOL GLVSRQLELOL H ULPXRYHQGR
SDVVRSHUSDVVRTXHOOHQRQVLJQLILFDWLYH&RQLOPHWRGRVWHSZLVHSDUWHQGRGDXQPRGHOORGLUHJUHVVLRQHVHQ]DYDULDELOLVLSURFHGHSHUSDVVL
VXFFHVVLYLDOWHUQDQGRGXHIDVLQHOODSULPDIDVHVLLQWURGXFHODYDULDELOHPDJJLRUPHQWHVLJQLILFDWLYDIUDTXHOOHFRQVLGHUDWHQHOODVHFRQGDVL
ULHVDPLQD O·LQVLHPHGHOOHYDULDELOLLQWURGRWWHSHUYHULILFDUHVHqSRVVLELOH HOLPLQDUQHTXDOFXQDQRQSL VLJQLILFDWLYD,O SURFHVVRFRQWLQXD
ILQR D TXDQGR QRQ q SL SRVVLELOH DSSRUWDUH DOFXQD PRGLILFD DOO·LQVLHPH GHOOH YDULDELOL RYYHUR TXDQGR QHVVXQD YDULDELOH SXz HVVHUH
DJJLXQWDRSSXUHHOLPLQDWD
7DOLDWWLYLWjVLULIHULVFRQRDTXHOOHFKHLQDSSOLFD]LRQHVRQR3URJHWWRSUHOLPLQDUHRGLPDVVLPDLPSRUWRRSHUHILQRDHXUR
3URJHWWRSUHOLPLQDUHRGLPDVVLPDLPSRUWRRSHUHROWUHHXURHILQRDHXUR3URJHWWRSUHOLPLQDUHRGLPDVVLPD
LPSRUWRRSHUHROWUHHXUR3URJHWWRGHILQLWLYRHRHVHFXWLYRLPSRUWRRSHUHILQRDHXUR3URJHWWRGHILQLWLYR
HR HVHFXWLYR LPSRUWR RSHUH ROWUH HXUR H ILQR D HXUR 3URJHWWR GHILQLWLYR HR HVHFXWLYR LPSRUWR RSHUH ROWUH
HXUR 'LUH]LRQH ODYRUL DVVLVWHQ]D DO FROODXGR OLTXLGD]LRQL LPSRUWR RSHUH ILQR D HXUR 'LUH]LRQH ODYRUL
DVVLVWHQ]D DO FROODXGR OLTXLGD]LRQL LPSRUWR RSHUH ROWUH HXUR H ILQR D HXUR 'LUH]LRQH ODYRUL DVVLVWHQ]D DO
FROODXGROLTXLGD]LRQLLPSRUWRRSHUHROWUHHXUR5HOD]LRQLJHRORJLFKHJHRWHFQLFKHHUHGD]LRQHGLHODERUDWLWHFQLFLLQDPELWL
GLYHUVLGDOODSURJHWWD]LRQH,QGDJLQLJHRJQRVWLFKH5LOHYDPHQWL JHRORJLFLGLVXSHUILFLHHVWXGLIRWRJHRORJLFL$QDOLVLSHWURJUDILFKH
SDOHRQWRORJLFKHHVHGLPHQWRORJLFKH$OWULULOHYDPHQWLJHRORJLFLLQGDJLQLJHRWHFQLFKHJHRILVLFKHVWXGLULFHUFKHHSURYHGLODERUDWRULR
5HGD]LRQH GL FDUWH WHPDWLFKH 9DOXWD]LRQH GL LPSDWWR DPELHQWDOH9DOXWD]LRQH $PELHQWDOH 6WUDWHJLFD 6WLPH GL JHRULVRUVH HG
LGURJHRORJLD *HVWLRQH GHOOD VLFXUH]]D &RQVXOHQ]H LQ DPELWR DPELHQWDOH &RQVXOHQ]D JHRORJLFD SHU SURJHWWL LQ VDQDWRULD HR GL
DGHJXDPHQWR GHJOL VFDULFKL GHL UHIOXL 'LUH]LRQH WHFQLFD GL GLVFDULFKH 'LUH]LRQH GL FDYH 'LUH]LRQH GL ODERUDWRUL JHRWHFQLFL
&RQVXOHQ]DWHFQLFDG
XIILFLR&RQVXOHQ]DWHFQLFDLQVHGHGLFRQWHQ]LRVR$UELWUDWL
3HUPDJJLRUGHWWDJOLRVLYHGDOD1RWDDLFRHIILFLHQWLGHOODIXQ]LRQHGLFRPSHQVRGHO6XE$OOHJDWR+
— 7 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
ULWHQHUVLHFRQRPLFDPHQWHSODXVLELOLFRQULIHULPHQWRDOOHSUDWLFKHRVVHUYDELOLQHOVHWWRUHHQHOWHUULWRULRVSHFLILFR
3HUOHYDULDELOLGLFXLDOVHFRQGRSXQWRLQYHFHVRQRVWDWLXWLOL]]DWLLULVXOWDWLGHOORVWXGLRGHOOD´7HUULWRULDOLWjGHO
OLYHOORGHOUHGGLWRPHGLRLPSRQLELOHDLILQLGHOO·DGGL]LRQDOH,USHIGHILQLWDVXGDWLGHO'LSDUWLPHQWRGHOOH)LQDQ]H
ULIHULWLDLSHULRGLG·LPSRVWDHµ FKHGLIIHUHQ]LDLOWHUULWRULRQD]LRQDOHVXOODEDVHGHOOLYHOORGHOUHGGLWR
SHUSURYLQFLD.
,OOLYHOORGHOUHGGLWRqVWDWRUDSSUHVHQWDWRFRQXQDYDULDELOHVWDQGDUGL]]DWDULVSHWWRDOYDORUHPDVVLPRHGqVWDWD
DQDOL]]DWDODVXDLQWHUD]LRQHFRQODYDULDELOH´2UHGHGLFDWHDOO·DWWLYLWjµ
1HO6XE$OOHJDWR+YHQJRQRULSRUWDWHOHYDULDELOLHGLULVSHWWLYLFRHIILFLHQWLGHOOD´IXQ]LRQHGLFRPSHQVRµ
,O YDORUH PDVVLPR q OR VWHVVR YDORUH XWLOL]]DWR QHOOD SUHFHGHQWH YHUVLRQH GHOOD 7HUULWRULDOLWj GHO UHGGLWR PHGLR LPSRQLELOH DL ILQL
GHOO·DGGL]LRQDOH,53()GHILQLWDVXGDWLULIHULWLDLSHULRGLG·LPSRVWDH,FULWHULHOHFRQFOXVLRQLGHOORVWXGLR´7HUULWRULDOLWjGHO
UHGGLWRPHGLRLPSRQLELOHDLILQLGHOO·DGGL]LRQDOH,53()GHILQLWDVXGDWLGHO'LSDUWLPHQWRGHOOH)LQDQ]HULIHULWLDLSHULRGLG·LPSRVWDH
µDSSOLFDELOHDSDUWLUHGDOSHULRGRGLLPSRVWDVRQRULSRUWDWLQHOO·DSSRVLWR'HFUHWR0LQLVWHULDOH
— 8 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$33/,&$=,21('(//2678',2',6(7725(
,QIDVHGLDSSOLFD]LRQHGHOORVWXGLRGLVHWWRUHVRQRSUHYLVWHOHVHJXHQWLIDVL
$QDOLVL'LVFULPLQDQWH
$QDOLVLGHOOD&RHUHQ]D
$QDOLVLGHOOD1RUPDOLWj(FRQRPLFD
$QDOLVLGHOOD&RQJUXLWj
•
•
•
•
$1$/,6,',6&5,0,1$17(
8QDYROWDVXGGLYLVLLSURIHVVLRQLVWLLQJUXSSLRPRJHQHLqQHFHVVDULRGHWHUPLQDUHXQDUHJRODGLFODVVLILFD]LRQHLQ
JUDGRGLGHILQLUHO·DSSDUWHQHQ]DGLFLDVFXQVRJJHWWRDLJUXSSLRPRJHQHLLQGLYLGXDWLQHOODIDVHGL&OXVWHU$QDO\VLV
ODGHVFUL]LRQHGHLJUXSSLRPRJHQHLqULSRUWDWDQHO6XE$OOHJDWR$
$OULJXDUGRqVWDWDXWLOL]]DWDO·DQDOLVLGLVFULPLQDQWHOLQHDUHGL)LVKHU6LWUDWWDGLXQDWHFQLFDVWDWLVWLFDPXOWLYDULDWD
XWLOHSHULGHQWLILFDUHTXHOOHYDULDELOLFKHPHJOLRGLVFULPLQDQRLJUXSSLRPRJHQHL
1HOO·DQDOLVLGLVFULPLQDQWHOLQHDUHSHURJQLJUXSSRRPRJHQHRYLHQHFDOFRODWDXQDIXQ]LRQHGLFODVVLILFD]LRQHFRPH
FRPELQD]LRQHOLQHDUHGHOOHYDULDELOLGLVFULPLQDQWL
6XOOD EDVH GHL SXQWHJJL GLVFULPLQDQWL RWWHQXWL XWLOL]]DQGR WDOH IXQ]LRQH YLHQH GHWHUPLQDWD OD SUREDELOLWj GL
DSSDUWHQHQ]DDLJUXSSLRPRJHQHL,QWDOPRGRqSRVVLELOHDVVRFLDUHRJQLVLQJRORSURIHVVLRQLVWDDGXQRRSL
JUXSSLRPRJHQHLGHILQHQGROHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]D
1HO 6XE $OOHJDWR % YHQJRQR ULSRUWDWH OH YDULDELOL ULVXOWDWH VLJQLILFDWLYH QHOO·DQDOLVL FRQ L ULVSHWWLYL SHVL
GLVFULPLQDQWLLQGLYLGXDWLSHURJQLJUXSSRRPRJHQHR
$1$/,6,'(//$&2(5(1=$
/·DQDOLVLGHOODFRHUHQ]DSHUPHWWHGLYDOXWDUHLOSURIHVVLRQLVWDVXOODEDVHGLVSHFLILFLLQGLFDWRULHFRQRPLFLFDOFRODWL
FRPHUDSSRUWRWUDGHWHUPLQDWHYDULDELOLFRQWDELOLHRVWUXWWXUDOLFRQWHQXWHQHOPRGHOORSHUODFRPXQLFD]LRQHGHL
GDWLULOHYDQWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUH*OL LQGLFDWRULVRQRVWDWLVHOH]LRQDWLLQEDVHDOODORUR
FDSDFLWjGLPLVXUDUHO·HIILFLHQ]DHODUHGGLWLYLWjGHOO·DWWLYLWjSURIHVVLRQDOH
&RQO·DQDOLVLGHOODFRHUHQ]DSHUFLDVFXQVRJJHWWRVLYDOXWDLOSRVL]LRQDPHQWRGHOYDORUHGLRJQLVLQJRORLQGLFDWRUH
ULVSHWWRDGXQLQWHUYDOORLQGLYLGXDWRFRPHHFRQRPLFDPHQWHFRHUHQWHVXOODEDVHGHLYDORULVRJOLDDPPLVVLELOL
*OLLQGLFDWRULXWLOL]]DWLQHOO·DQDOLVLGHOODFRHUHQ]DVRQRLVHJXHQWL
•
,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVL
•
,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWL
/HYDULDELOLGLVFULPLQDQWLYHQJRQRVHOH]LRQDWHFRQLOPHWRGRVWHSZLVHSDUWHQGRGDTXHOOHXWLOL]]DWHQHOO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOL
/DIXQ]LRQHGLFODVVLILFD]LRQHqGHILQLWDQHOVHJXHQWHPRGR
ZL DLDLYDUGLVDLYDUGLVDLPYDUGLVP
GRYH
ZLqLOSXQWHJJLRGLVFULPLQDQWHUHODWLYRDOJUXSSRRPRJHQHRL
DLqO·LQWHUFHWWD
DLMVRQRLSHVLGLVFULPLQDQWLVFHOWLLQPRGRGDUHQGHUHPDVVLPDODVHSDUD]LRQHWUDLJUXSSL
YDUGLVMqODMHVLPDYDULDELOHGLVFULPLQDQWH
10
/DSUREDELOLWjGLDSSDUWHQHQ]DDOJUXSSRRPRJHQHRLqFDOFRODWDQHOVHJXHQWHPRGR
H {Z L − 0D[ [Z Z Z Q ]}
3URE L =
{Z − 0D[ [Z Z Z Q ]}
¦ NQ = H N
GRYHQqLOQXPHURFRPSOHVVLYRGLJUXSSLRPRJHQHL
/HSUREDELOLWjGLDSSDUWHQHQ]DDLFOXVWHUVRQRDUURWRQGDWHDOODTXLQWDFLIUDGHFLPDOH
/·LQGLFDWRUH PLVXUD LO SHVR GHO WRWDOH GHOOH VSHVH VRVWHQXWH GDOOR VWXGLR SURIHVVLRQDOH DO QHWWR GHOOH VSHVH SHU FDQRQL GL ORFD]LRQH
ILQDQ]LDULDHQRQILQDQ]LDULDVXLFRPSHQVLFRPSOHVVLYDPHQWHLQFDVVDWL
— 9 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
•
•
•
Serie generale - n. 301
0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWR
5HQGLPHQWR ORUGR SHU DGGHWWR LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R
DVVLPLODWR
5HVDRUDULDSHUDGGHWWR
/HIRUPXOHGHJOLLQGLFDWRULXWLOL]]DWLVRQRULSRUWDWHQHO6XE$OOHJDWR&
$LILQLGHOODLQGLYLGXD]LRQHGHLYDORULVRJOLDFKHGHILQLVFRQRODFRHUHQ]DHFRQRPLFDSHUFLDVFXQRGHJOLLQGLFDWRUL
XWLOL]]DWLVRQRVWDWHHVDPLQDWHSUHOLPLQDUPHQWHDGHFFH]LRQHGHOO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHOFRVWRSHULO
JRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWLµOHUHODWLYHGLVWULEX]LRQLYHQWLOLFKH GLIIHUHQ]LDWHSHUJUXSSR
RPRJHQHRSHUO·LQGLFDWRUH´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH
RDVVLPLODWRµDQFKHVXOODEDVHGHOO·´(WjSURIHVVLRQDOHµHGHOOD´7HUULWRULDOLWjJHQHUDOHµDOLYHOORSURYLQFLDOHSHU
O·LQGLFDWRUH ´,QFLGHQ]D GHOOH VSHVH VXL FRPSHQVLµ DQFKH VXOOD EDVH GHOOD SUHVHQ]DDVVHQ]D GL IRU]D ODYRUR ,
YDORULGHOOHVRJOLHGHLGLYHUVLLQGLFDWRULVRQRVWDWLLQGLYLGXDWLDGHFFH]LRQHGHOO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHO
FRVWR SHU LO JRGLPHQWR GL EHQL GL WHU]L H GHJOL DPPRUWDPHQWLµ VFHJOLHQGR TXHOOL FKH SRVVRQR ULWHQHUVL
HFRQRPLFDPHQWH SODXVLELOL FRQ ULIHULPHQWR DOOH SUDWLFKH RVVHUYDELOL QHO VHWWRUH H QHO FOXVWHU VSHFLILFR 3HU
O¶LQGLFDWRUH´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWRµVL
q LQROWUH WHQXWR FRQWR GHOO·DUHD WHUULWRULDOH GL DSSDUWHQHQ]D H GHOO·HVSHULHQ]D PDWXUDWD GDO FRQWULEXHQWH
QHOO·HVHUFL]LR GHOOD SURIHVVLRQH 3HU O·LQGLFDWRUH ´,QFLGHQ]D GHOOH VSHVHVXL FRPSHQVLµ VL q LQYHFH WHQXWR FRQWR
SULQFLSDOPHQWHGHOGLYHUVRDPPRQWDUHGHOOHVSHVHVRVWHQXWHGDLFRQWULEXHQWLFKHVLDYYDOJRQRGLGLSHQGHQWLHR
FROODERUDWRULULVSHWWRDFRORURFKHQRQVHQHDYYDOJRQR
/HGLVWULEX]LRQLYHQWLOLFKHGHJOLLQGLFDWRULGLFRHUHQ]DHFRQRPLFDYHQJRQRULSRUWDWHQHO6XE$OOHJDWR'
,YDORULVRJOLDGLFRHUHQ]DDPPLVVLELOLVRQRULSRUWDWLQHO6XE$OOHJDWR(
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVLµVHO·LQGLFDWRUHqFDOFRODELOHHVHLO
VXRYDORUHVLSRVL]LRQDDOO·LQWHUQRGHOO·LQWHUYDOORLQGLYLGXDWRFRPHHFRQRPLFDPHQWHFRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWLµ VH LO YDORUH GHOO·LQGLFDWRUH q PDJJLRUH R XJXDOH D 1HO FDVR LQ FXL O·LQGLFDWRUH ULVXOWL QRQ
FDOFRODELOHFRQLO0DUJLQHQHWWRPDJJLRUHGL]HURRO·LQGLFDWRUHULVXOWLLQGHWHUPLQDWRLOVRJJHWWRYLHQHGHILQLWR
FRHUHQWH1HOFDVRLQFXLO·LQGLFDWRUHULVXOWLQRQFDOFRODELOHFRQLO0DUJLQHQHWWRPLQRUHGL]HURLOVRJJHWWRYLHQH
GHILQLWRQRQFRHUHQWH
/·LQGLFDWRUH PLVXUD LO JUDGR GL FRSHUWXUD GHL SULQFLSDOL FRVWL SHU O·XWLOL]]R GL EHQL VWUXPHQWDOL DOO·DWWLYLWj GHOOR VWXGLR SURIHVVLRQDOH
PHGLDQWH LO ´PDUJLQHµ DO QHWWR GHOOD UHPXQHUD]LRQH ULWHQXWD HFRQRPLFDPHQWH SODXVLELOH GHO WLWRODUH R GHL VRFLDVVRFLDWL GHOOR VWXGLR
SURIHVVLRQDOH
/·LQGLFDWRUH PLVXUD LO FRQWULEXWR GHO WLWRODUH R GHL VRFLDVVRFLDWL GHOOR VWXGLR SURIHVVLRQDOH DOOD FUHD]LRQH GHO ´PDUJLQHµ RYYHUR
UDSSUHVHQWDODFDSDFLWjGLUHPXQHUDUHDOORUGRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLPRELOLHLPPRELOLHGHJOL
DPPRUWDPHQWLODSURSULDDWWLYLWjSURIHVVLRQDOH
7DOH LQGLFDWRUH VL DSSOLFD VROR LQ DVVHQ]D GL ´6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWHµ H ´6SHVH SHU SUHVWD]LRQL GL FROODERUD]LRQH
FRRUGLQDWDHFRQWLQXDWLYDµ
/·LQGLFDWRUHPLVXUDLOYDORUHSURGRWWRGDOORVWXGLRSURIHVVLRQDOHGHVWLQDWRDUHPXQHUDUHROWUHLOWLWRODUHRVRFLDVVRFLDWL DQFKHTXHL
IDWWRUL FKH FRQWULEXLVFRQR D JHQHUDUH YDORUH FRPH LO ODYRUR VRWWR IRUPD GL VWLSHQGL FRQWULEXWL LQGHQQLWj GL ILQH UDSSRUWR HG L EHQL
VWUXPHQWDOLDOO·DWWLYLWjVRWWRIRUPDQHOFDVRGLJRGLPHQWRGLEHQLGLWHU]LGLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQL
LPPRELOLHRDEHQLVWUXPHQWDOLPRELOLHQHOFDVRGLJRGLPHQWRGLEHQLLQSURSULHWjGLDPPRUWDPHQWL
7DOHLQGLFDWRUHVLDSSOLFDVRORLQSUHVHQ]DGL´6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHµHR´6SHVHSHUSUHVWD]LRQLGLFROODERUD]LRQH
FRRUGLQDWDHFRQWLQXDWLYDµ
/·LQGLFDWRUH PLVXUD O·DPPRQWDUH GHL FRPSHQVL SHUFHSLWL GDOOR VWXGLR SURIHVVLRQDOH SHU L VHUYL]L HURJDWL GD FLDVFXQ DGGHWWR QHOO·DUFR
WHPSRUDOHGLXQ·RUD
1HOOD WHUPLQRORJLD VWDWLVWLFD VL GHILQLVFH ´GLVWULEX]LRQH YHQWLOLFDµ O·LQVLHPH GHL YDORUL FKH VXGGLYLGRQR OH RVVHUYD]LRQL RUGLQDWH SHU
YDORULFUHVFHQWLGHOO·LQGLFDWRUHLQJUXSSLGLXJXDOHQXPHURVLWj,OSULPRYHQWLOHqLOYDORUHDOGLVRWWRGHOTXDOHVLSRVL]LRQDLOSULPR
GHOOHRVVHUYD]LRQLLOVHFRQGRYHQWLOHqLOYDORUHDOGLVRWWRGHOTXDOHVLSRVL]LRQDLOSULPRGHOOHRVVHUYD]LRQLHFRVuYLD
(WjSURIHVVLRQDOHqSDULD9DORUHPDVVLPRWUD3HULRGRGLLPSRVWD²9DORUHPDVVLPRWUD$QQRGLLQL]LRDWWLYLWjH$QQRGLLVFUL]LRQHDG
DOELSURIHVVLRQDOLH
,FULWHULHOHFRQFOXVLRQLGHOORVWXGLRVRQRULSRUWDWLQHOO·DSSRVLWR'HFUHWR0LQLVWHULDOH
/D SUHVHQ]D GL IRU]D ODYRUR q FRQGL]LRQDWD DOOD SUHVHQ]D GL 6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R 6SHVH SHU SUHVWD]LRQL GL
FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD R &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H
DUWLVWLFD
8Q LQGLFDWRUH VL GHILQLVFH QRQ FDOFRODELOH TXDQGR QHO UDSSRUWR QXPHUDWRUH GLYLVR GHQRPLQDWRUH LO GHQRPLQDWRUH q SDUL D ]HUR H LO
QXPHUDWRUHqGLYHUVRGD]HUR
8QLQGLFDWRUHVLGHILQLVFHLQGHWHUPLQDWRTXDQGRQHOUDSSRUWRQXPHUDWRUHGLYLVRGHQRPLQDWRUHLOQXPHUDWRUHHLOGHQRPLQDWRUHVRQR
HQWUDPELSDULD]HUR
— 10 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
,OVRJJHWWRULVXOWDFRHUHQWHSHUJOLLQGLFDWRUL´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGL
ODYRURGLSHQGHQWHRDVVLPLODWRµH´5HQGLPHQWRORUGRSHUDGGHWWRLQSUHVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWRµVHLOYDORUHGHJOLLQGLFDWRULqPDJJLRUHRXJXDOHDOODVRJOLDPLQLPDLQGLYLGXDWD1HOFDVR
LQFXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµULVXOWLSDULD]HURLOVRJJHWWRYLHQHGHILQLWR
FRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´5HVDRUDULDSHUDGGHWWRµVHLOYDORUHGHOO·LQGLFDWRUHqPLQRUHRXJXDOH
DOODVRJOLDPDVVLPDLQGLYLGXDWD1HOFDVRLQFXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµ
ULVXOWLSDULD]HURLOVRJJHWWRYLHQHGHILQLWRFRHUHQWH
,Q DSSOLFD]LRQH SHU RJQL VLQJROR VRJJHWWR L YDORUL VRJOLD GL FLDVFXQ LQGLFDWRUH GL FRHUHQ]D HFRQRPLFD VRQR
RWWHQXWLFRPHPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHLYDORULGLULIHULPHQWRLQGLYLGXDWL
SHUJUXSSRRPRJHQHR3HUO·LQGLFDWRUH´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWRµWDOLYDORULVRJOLDYHQJRQRSRQGHUDWLDQFKHVXOODEDVHGHOODSHUFHQWXDOHGLDSSDUWHQHQ]D
DOOHGLYHUVHDUHHWHUULWRULDOL
$1$/,6,'(//$1250$/,7­(&2120,&$
/·DQDOLVLGHOODQRUPDOLWjHFRQRPLFDqPLUDWDDGLQGLYLGXDUHODFRUUHWWH]]DGHLGDWLGLFKLDUDWL$WDOILQHSHURJQL
VLQJRORVRJJHWWRYHQJRQRFDOFRODWLLQGLFDWRULHFRQRPLFRFRQWDELOLGDFRQIURQWDUHFRQLYDORULGLULIHULPHQWRFKH
LQGLYLGXDQROHFRQGL]LRQLGLQRUPDOLWjHFRQRPLFD
*OL LQGLFDWRUL GL QRUPDOLWj HFRQRPLFD VRQR VWDWL SHUWDQWR VHOH]LRQDWL LQ EDVH DOOD ORUR FDSDFLWj GL LQGLYLGXDUH
DQRPDOLHQHOODUHOD]LRQHWUDOHYRFLHVDPLQDWH
/·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFDLQGLYLGXDWRqLOVHJXHQWH
•
,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQHVXLFRPSHQVL
/DIRUPXODGHOO·LQGLFDWRUHXWLOL]]DWRqULSRUWDWDQHO6XE$OOHJDWR&
$LILQLGHOO·LQGLYLGXD]LRQHGHLYDORULGLULIHULPHQWRSHUO·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFDVRQRVWDWHHVDPLQDWH
SUHOLPLQDUPHQWH OH UHODWLYH GLVWULEX]LRQL YHQWLOLFKH GLIIHUHQ]LDWH SHU JUXSSR RPRJHQHR , YDORUL GHOOH VRJOLH
GHOO·LQGLFDWRUH VRQR VWDWL LQGLYLGXDWL VFHJOLHQGR TXHOOL FKH SRVVRQR ULWHQHUVL HFRQRPLFDPHQWH SODXVLELOL FRQ
ULIHULPHQWRDOOHSUDWLFKHRVVHUYDELOLQHOVHWWRUHHQHOFOXVWHUVSHFLILFR
/HGLVWULEX]LRQLYHQWLOLFKHGHOO·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFDYHQJRQRULSRUWDWHQHO6XE$OOHJDWR)
,YDORULVRJOLDGLQRUPDOLWjHFRQRPLFDVRQRULSRUWDWLQHO6XE$OOHJDWR*
,Q DSSOLFD]LRQH SHU RJQL VLQJROR VRJJHWWR L YDORUL VRJOLD GHOO·LQGLFDWRUH GL QRUPDOLWj HFRQRPLFD VRQR RWWHQXWL
FRPH PHGLD SRQGHUDWD FRQ OH UHODWLYH SUREDELOLWj GL DSSDUWHQHQ]D GHL YDORUL GL ULIHULPHQWR LQGLYLGXDWL SHU
JUXSSRRPRJHQHR
/·LQGLFDWRUH SXz GHWHUPLQDUH PDJJLRUL FRPSHQVL FKH VL VRPPDQR DO FRPSHQVR SXQWXDOH H DO FRPSHQVR
PLQLPRVWLPDWLFRQO·DQDOLVLGHOODFRQJUXLWjVXFFHVVLYDPHQWHGHVFULWWD
,1&,'(1=$ '(//( $/75( &20321(17, 1(*$7,9( $/ 1(772 '(, &$121, ', /2&$=,21(
68,&203(16,
3HU RJQL FRQWULEXHQWH VL GHWHUPLQD LO YDORUH PDVVLPR DPPLVVLELOH SHU OD YDULDELOH ´$OWUH FRPSRQHQWL QHJDWLYH
QHWWHµ PROWLSOLFDQGR OD VRJOLD PDVVLPD GL QRUPDOLWj HFRQRPLFD GHOO·LQGLFDWRUH GLYLVD SHU L ´&RPSHQVL GD
FRQJUXLWjµ
1HOFDVRLQFXLLOYDORUHGLFKLDUDWRGHOOH´$OWUHFRPSRQHQWLQHJDWLYHQHWWHµVLSRVL]LRQLDOGLVRSUDGLGHWWRYDORUH
PDVVLPR DPPLVVLELOH OD SDUWH GL VSHVH HFFHGHQWH WDOH YDORUH SRQGHUDWD FRQ OD SHUFHQWXDOH VXL FRPSHQVL GHO
7RWDOHLQFDULFKLGHULYDQWLGD´6WDELOLFROODERUD]LRQLFRQVWXGLHRVWUXWWXUHGLWHU]LµH´$OWUHDWWLYLWjµFRVWLWXLVFH
SDUDPHWUR GL ULIHULPHQWR SHU OD GHWHUPLQD]LRQH GHL PDJJLRUL FRPSHQVL GD QRUPDOLWj HFRQRPLFD FDOFRODWL
PROWLSOLFDQGRWDOHSDUWHHFFHGHQWHSHULOUHODWLYRFRHIILFLHQWH
*OLLQGLFDWRULVRQRDUURWRQGDWLDOODVHFRQGDFLIUDGHFLPDOH
/·LQGLFDWRUHYHULILFDODSODXVLELOLWjWUDODYRFH´DOWUHFRPSRQHQWLQHJDWLYHµHGLOWRWDOHGHLFRPSHQVL1HOFDOFRORGHOOHDOWUHFRPSRQHQWL
QHJDWLYHQRQVLWLHQHFRQWRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLLPPRELOLHDEHQLVWUXPHQWDOLPRELOL
/HYDULDELOLQXPHULFKHULIHULWHDGLPSRUWLLQHXURVRQRDUURWRQGDWHDOYDORUHLQWHUR
&RPSHQVLGDFRQJUXLWj &RPSHQVRSXQWXDOHGDDQDOLVLGHOODFRQJUXLWj
— 11 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
7DOHFRHIILFLHQWHqVWDWRLQGLYLGXDWRGLVWLQWDPHQWHSHUJUXSSRRPRJHQHRFOXVWHUFRPHUDSSRUWRWUDODVRPPD
GHL FRPSHQVLSXQWXDOL FDOFRODWL DSSOLFDQGR D WXWWL L VRJJHWWL GHO FOXVWHU ODVSHFLILFD IXQ]LRQH GL FRPSHQVR FRQ
O·XWLOL]]RGHOOHVROHYDULDELOLFRQWDELOLGLVSHVDHODVRPPDGHOOHVWHVVHYDULDELOLFRQWDELOLGLVSHVDYHGLWDEHOOD
7DEHOOD&RHIILFLHQWLGLGHWHUPLQD]LRQHGHLPDJJLRULFRPSHQVLGDDSSOLFDUVLDOOHDOWUHFRPSRQHQWL
QHJDWLYHQHWWH
&OXVWHU
&RHIILFLHQWH
,QDSSOLFD]LRQHSHURJQLFRQWULEXHQWHLOFRHIILFLHQWHGLGHWHUPLQD]LRQHGHLPDJJLRULFRPSHQVLqRWWHQXWRFRPH
PHGLD SRQGHUDWD FRQ OH UHODWLYH SUREDELOLWj GL DSSDUWHQHQ]D GHL FRHIILFLHQWL LQGLYLGXDWL SHU RJQL JUXSSR
RPRJHQHR
$1$/,6,'(//$&21*58,7­
3HUFLDVFXQFRQWULEXHQWHYLHQHFDOFRODWRSHURJQLJUXSSRRPRJHQHRLO´FRPSHQVRSXQWXDOHGLFOXVWHUµFRPH
VRPPDGHLSURGRWWLIUDOHYDULDELOLLQGLYLGXDWHDLILQLGHOODGHILQL]LRQHGHOODIXQ]LRQHGLFRPSHQVRHGLUHODWLYL
FRHIILFLHQWL
3HUWHQHUFRQWRGHOODYDULDELOLWjOHJDWDDOODVWLPDGHOFRPSHQVRSXQWXDOHGHOVLQJRORFRQWULEXHQWHYLHQHFDOFRODWR
SHURJQLJUXSSRRPRJHQHRO·LQWHUYDOORGLFRQILGHQ]DDOOLYHOORGHO,OOLPLWHLQIHULRUHGLWDOHLQWHUYDOORGL
FRQILGHQ]DFRVWLWXLVFHLO´FRPSHQVRPLQLPRGLFOXVWHUµ
/DPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHL´FRPSHQVLSXQWXDOLGLFOXVWHUµGHILQLWLSHULO
FRQWULEXHQWHLQUHOD]LRQHDFLDVFXQJUXSSRRPRJHQHRFRVWLWXLVFHLO´FRPSHQVRSXQWXDOHµGHOFRQWULEXHQWH
/DPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHL´FRPSHQVLPLQLPLGLFOXVWHUµGHILQLWLSHULO
FRQWULEXHQWHLQUHOD]LRQHDFLDVFXQJUXSSRRPRJHQHRFRVWLWXLVFHLO´FRPSHQVRPLQLPRµGHOFRQWULEXHQWH
/HYDULDELOLFRQWDELOLGLVSHVDVRQRSRQGHUDWHVHFRQGRTXDQWRGHWWDJOLDWRQHO6XE$OOHJDWR+
1HOODWHUPLQRORJLDVWDWLVWLFDSHU´LQWHUYDOORGLFRQILGHQ]DµVLLQWHQGHXQLQWHUYDOORFHQWUDWRVXOFRPSHQVRSXQWXDOH yˆ HGHOLPLWDWRGD
GXH HVWUHPL XQR LQIHULRUH H O·DOWUR VXSHULRUH FKH LQFOXGH FRQ XQ OLYHOOR GL SUREDELOLWj SUHILVVDWR LO YDORUH DWWHVR GHO FRPSHQVR GHO
FRQWULEXHQWH
,O OLYHOOR GL SUREDELOLWj SUHILVVDWR R OLYHOOR GL ILGXFLD YLHQH JHQHUDOPHQWH LQGLFDWR FRQ OD QRWD]LRQH ´ ơµ GRYH ơ UDSSUHVHQWD OD
SUREDELOLWj FKH O·LQWHUYDOOR GL FRQILGHQ]D QRQ FRQWHQJD LO YDORUH DWWHVR GHO FRPSHQVR GHO FRQWULEXHQWH 3HU XQ OLYHOOR GL ILGXFLD SDUL DO
LOYDORUHFRUULVSRQGHQWHGLơqSDULD
,QGLFDQGR FRQ y
ˆ LO ´FRPSHQVR SXQWXDOH GL FOXVWHUµ GHO JHQHULFR FRQWULEXHQWH LO FRUULVSRQGHQWH ´FRPSHQVR PLQLPR GL FOXVWHUµ q
RWWHQXWRDWWUDYHUVRODVHJXHQWHIRUPXOD
yˆ - 3,92 * s
'
xCx GRYH
• C q OD PDWULFH LQYHUVD GHOOD PDWULFH GDWD GDOOH VRPPH GHL TXDGUDWL H GHL SURGRWWL LQFURFLDWL GHOOH YDULDELOL LQGLSHQGHQWL
RSSRUWXQDPHQWHSHVDWHSHUFRQWUROODUHO·HYHQWXDOHSUHVHQ]DGLHWHURVFKHGDVWLFLWj
• s qODUDGLFHTXDGUDWDGHO0HDQ6TXDUH(UURU506(
• x qLOYHWWRUHGHOOHYDULDELOLLQGLSHQGHQWLRVVHUYDWHSHULOJHQHULFRFRQWULEXHQWH
• qLOYDORUHGLULIHULPHQWRDOOLYHOORGLSUREDELOLWjSUHVFHOWRGHOODGLVWULEX]LRQHWGL6WXGHQWFKHDVLQWRWLFDPHQWHDSSURVVLPDXQD
GLVWULEX]LRQHQRUPDOHVWDQGDUGL]]DWD
,YDORULUHODWLYLDOODPDWULFH´ C µHDOYDORUHGHO´506(µGLFLDVFXQFOXVWHUYHQJRQRULSRUWDWLQHOO·$OOHJDWR
— 12 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$OFRPSHQVRSXQWXDOHHDOFRPSHQVRPLQLPRVWLPDWLFRQO·DQDOLVLGHOODFRQJUXLWjYHQJRQRDJJLXQWLJOLHYHQWXDOL
PDJJLRULFRPSHQVLGHULYDQWLGDOO·DSSOLFD]LRQHGHOO·DQDOLVLGHOODQRUPDOLWjHFRQRPLFD
1HO6XE$OOHJDWR+YHQJRQRULSRUWDWHOHYDULDELOLHGLULVSHWWLYLFRHIILFLHQWLGHOOH´IXQ]LRQLGLFRPSHQVRµ
/HYDULDELOLQXPHULFKHULIHULWHDGLPSRUWLLQHXURVRQRDUURWRQGDWHDOYDORUHLQWHUR
— 13 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$7,
68%$//(*$72$²'(6&5,=,21('(,*5833,202*(1(,
,JUXSSLRPRJHQHLVRQRVWDWLLQGLYLGXDWLVXOODEDVHGHOVHJXHQWHIDWWRUH
DUHDVSHFLDOLVWLFD
,QSDUWLFRODUHO·DUHDVSHFLDOLVWLFDKDFRQVHQWLWRGLLQGLYLGXDUHLVRJJHWWLFKHRSHUDQRSUHYDOHQWHPHQWHQHOOHDUHH
JHRORJLD DSSOLFDWD DOO
LQJHJQHULD FOXVWHU ULOHYDPHQWR JHRORJLFR GL EDVH H WHPDWLFR FOXVWHU LGURJHRORJLD
FOXVWHU JHRORJLD DSSOLFDWD DOO
DPELHQWH FOXVWHU JHRORJLD DSSOLFDWD DL PLQHUDOL DOOH SLHWUH DOOH ULFHUFKH
PLQHUDULH HR DOOD ULFHUFD GL IRQWL HQHUJHWLFKH FOXVWHU VLFXUH]]D GHO WHUULWRULR JHRORJLD DSSOLFDWD DOOD
SLDQLILFD]LRQHWHUULWRULDOHHRDOODGLIHVDGHOVXRORFOXVWHU
Ë VWDWR LQROWUH LQGLYLGXDWR XQ JUXSSR GL VRJJHWWL FKH JHQHUDOPHQWH HVHUFLWD OD SURIHVVLRQH QHOO·DPELWR GL
GLIIHUHQWLDUHHVSHFLDOLVWLFKHFOXVWHU
6L SUHFLVD FKH QHOOD VXFFHVVLYD GHVFUL]LRQH HFRQRPLFD GHL FOXVWHU SHU ´SURJHWWD]LRQHµ VL LQWHQGH O·DPELWR GL
DWWLYLWjFRPSUHQGHQWHOHSUHVWD]LRQLLQHUHQWLLO´SURJHWWRSUHOLPLQDUHRGLPDVVLPDµHGLO´SURJHWWRGHILQLWLYRHR
HVHFXWLYRµ
1HOOH VXFFHVVLYH GHVFUL]LRQL GHL FOXVWHU HPHUVL GDOO·DQDOLVL VDOYR VHJQDOD]LRQH FRQWUDULD O·LQGLFD]LRQH GL YDORUL
QXPHULFLULJXDUGDYDORULPHGL
&/867(5*(2/2*,63(&,$/,==$7,,1*(2/2*,$$33/,&$7$$//·,1*(*1(5,$
180(526,7­
,O FOXVWHU q IRUPDWR GD SURIHVVLRQLVWL VSHFLDOL]]DWL LQ JHRORJLD DSSOLFDWD DOO·LQJHJQHULD HGLOL]LD FLYLOH RSHUH
LGUDXOLFKHDHURSRUWLIRQWHGHOO·GHLFRPSHQVL
/·DWWLYLWjqFRQFHQWUDWDSUHYDOHQWHPHQWHVXOODVWHVXUDGLUHOD]LRQLJHRORJLFKHJHRWHFQLFKHHUHGD]LRQHGLHODERUDWL
WHFQLFLLQDPELWLGLYHUVLGDOODSURJHWWD]LRQHGHLFRPSHQVLSHULOGHLSURIHVVLRQLVWLGHOFOXVWHUHVXOOD
´SURJHWWD]LRQHµ SHU LO SHU LO GHL VRJJHWWL O·DWWLYLWj VL HVWHQGH LQROWUH DOO·HIIHWWXD]LRQH GL ´DOWUL
ULOHYDPHQWL JHRORJLFL LQGDJLQL JHRWHFQLFKH JHRILVLFKH VWXGL ULFHUFKH H SURYH GL ODERUDWRULRµ H LQGDJLQL
JHRJQRVWLFKHHQWUDPEHFRQXQLQFLGHQ]DGHOVXLFRPSHQVL
1HOO·DPELWR GHOO·DWWLYLWj GL ´SURJHWWD]LRQHµ VL ULOHYD SL GL IUHTXHQWH O·RWWHQLPHQWR GL FRPSHQVL GD SUHVWD]LRQL
FROOHJDWH DG RSHUH GL YDORUH ILQR D HXUR HG LQ SDUWLFRODUH LO GHL VRJJHWWL RWWLHQH FLUFD OD PHWj GHL
FRPSHQVLGDO´SURJHWWRGHILQLWLYRHRHVHFXWLYRµHGLOGHULYDLOGHLFRPSHQVLGDO´SURJHWWRSUHOLPLQDUH
RGLPDVVLPDµ
,OYHQWDJOLRGLFOLHQWHODSLXWWRVWRHWHURJHQHRFRPSUHQGHVRJJHWWLSULYDWLGHLFRPSHQVL´DOWUHLPSUHVHH
DOWULHQWLSULYDWLFRPPHUFLDOLHQRQµVWXGLWHFQLFLGHLFRPSHQVLSHUFLUFDODPHWjGHLFRPSRQHQWLLO
FOXVWHU (QWL 3XEEOLFL 7HUULWRULDOL RVVLD &RPXQL &RPXQLWj 0RQWDQH $XWRULWj GL %DFLQR 3URYLQFH H 5HJLRQL
SHULOLPSUHVHGLFRVWUX]LRQLSHULOVRFLHWjGLLQJHJQHULDSHULO6LHYLGHQ]LD
LQROWUH FKH LO GHJOL DSSDUWHQHQWL DO FOXVWHU UHDOL]]D FRQ LO FOLHQWH SULQFLSDOH XQD TXRWD VLJQLILFDWLYD GHL
FRPSHQVL
6LWUDWWDGLSURIHVVLRQLVWLFKHSUHYDOHQWHPHQWHHVHUFLWDQRODSURIHVVLRQHDWLWRORLQGLYLGXDOHHFKHQHOODPDJJLRU
SDUWHGHLFDVLGLVSRQJRQRGLXQRVWXGLRSURSULRLQFOXGHQGRLQWDOHDFFH]LRQHO·XVRSURPLVFXRGHOO·DELWD]LRQH
/DSUHVHQ]DGLSHUVRQDOHGLSHQGHQWHVLULVFRQWUDQHOO·GHLFDVL
'D ULOHYDUH LQILQH FKH LO GHL JHRORJL GHO FOXVWHU GLFKLDUD GL VYROJHUH DQFKH DWWLYLWj GL ODYRUR GLSHQGHQWH D
WHPSRSLHQRRDWHPSRSDU]LDOHHGLOGLHVVHUHSHQVLRQDWR
— 14 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&/867(5*(2/2*,63(&,$/,==$7,1(/5,/(9$0(172*(2/2*,&2',%$6((7(0$7,&2
180(526,7­
,O FOXVWHU FRPSUHQGH L JHRORJL FKH VYROJRQR OD SURIHVVLRQH QHOO·DPELWR GHO ULOHYDPHQWR JHRORJLFR GL EDVH H
WHPDWLFRRWWHQHQGRQHODTXDVLWRWDOLWjGHLFRPSHQVL
7UDOHSULQFLSDOLDWWLYLWjVYROWHVLVHJQDODQRODVWHVXUDGLUHOD]LRQLJHRORJLFKHJHRWHFQLFKHHUHGD]LRQHGLHODERUDWL
WHFQLFL LQ DPELWL GLYHUVL GDOOD SURJHWWD]LRQH GHL FRPSHQVL SHU LO GHL JHRORJL GHO FOXVWHU OD
´SURJHWWD]LRQHµSHULOJOL´DOWULULOHYDPHQWLJHRORJLFLLQGDJLQLJHRWHFQLFKHJHRILVLFKHVWXGLULFHUFKH
H SURYH GL ODERUDWRULRµ SHU LO OH LQGDJLQL JHRJQRVWLFKH SHU O· L ULOHYDPHQWL JHRORJLFL GL
VXSHUILFLHHVWXGLIRWRJHRORJLFLSHULO
,Q PHULWR DOO·DWWLYLWj GL ´SURJHWWD]LRQHµ GD ULOHYDUH FRQ PDJJLRU IUHTXHQ]D O·RWWHQLPHQWR GL FRPSHQVL GD
SUHVWD]LRQLFROOHJDWHDGRSHUHGLYDORUHILQRDHXURHGLQSDUWLFRODUHLOGHLVRJJHWWLRWWLHQHO·GHL
FRPSHQVLGDO´SURJHWWRSUHOLPLQDUHRGLPDVVLPDµHO·GHULYDLOGHLFRPSHQVLGDO´SURJHWWRGHILQLWLYR
HRHVHFXWLYRµ
/·RIIHUWDGLVHUYL]LSURIHVVLRQDOLVLULYROJHSLGLIUHTXHQWHDVRJJHWWLSULYDWLGHLFRPSHQVLSHULOGHL
JHRORJL GHO FOXVWHU ´DOWUH LPSUHVH H DOWUL HQWL SULYDWL FRPPHUFLDOL H QRQµ SHU LO (QWL 3XEEOLFL
7HUULWRULDOL RVVLD &RPXQL &RPXQLWj 0RQWDQH $XWRULWj GL EDFLQR 3URYLQFH H 5HJLRQL ROWUH OD PHWj GHL
FRPSHQVLSHULOGHLVRJJHWWLVWXGLWHFQLFLSHULOLPSUHVHGLFRVWUX]LRQLSHULO6L
HYLGHQ]LD LQROWUH FKH FLUFD XQ WHU]R GHJOL DSSDUWHQHQWL DO FOXVWHU UHDOL]]D FRQ LO FOLHQWH SULQFLSDOH XQD TXRWD
VLJQLILFDWLYDGHLFRPSHQVL
6LWUDWWDGLSURIHVVLRQLVWLFKHSUHYDOHQWHPHQWHHVHUFLWDQRODSURIHVVLRQHDWLWRORLQGLYLGXDOHHFKHQHOODPDJJLRU
SDUWHGHLFDVLGLVSRQJRQRGLXQRVWXGLRSURSULRLQFOXGHQGRLQWDOHDFFH]LRQHO·XVRSURPLVFXRGHOO·DELWD]LRQH
/DSUHVHQ]DGLSHUVRQDOHGLSHQGHQWHVLULVFRQWUDQHOO·GHLFDVL
'D ULOHYDUH LQILQH FKH LO GHL JHRORJL GHO FOXVWHU GLFKLDUD GL VYROJHUH DQFKH DWWLYLWj GL ODYRUR GLSHQGHQWH D
WHPSRSLHQRRDWHPSRSDU]LDOH
&/867(5*(2/2*,63(&,$/,==$7,,1,'52*(2/2*,$
180(526,7­
,O FOXVWHU q IRUPDWR GD SURIHVVLRQLVWL VSHFLDOL]]DWL LQ LGURJHRORJLD DFTXH PLQHUDOL H WHUPDOL VRWWHUUDQHH
LQTXLQDPHQWRDFTXHHGLVFDULFKHIRQWHGHOGHLFRPSHQVL
/HDWWLYLWjVYROWHLQFOXGRQRVRSUDWWXWWRODVWHVXUDGLUHOD]LRQLJHRORJLFKHJHRWHFQLFKHHODUHGD]LRQHGLHODERUDWL
WHFQLFL LQ DPELWL GLYHUVL GDOOD SURJHWWD]LRQH GHL FRPSHQVL SHU LO GHL VRJJHWWL OD ´SURJHWWD]LRQHµ
SHULOODFRQVXOHQ]DLQDPELWRDPELHQWDOHSHULOJOL´DOWULULOHYDPHQWLJHRORJLFLLQGDJLQL
JHRWHFQLFKHJHRILVLFKHVWXGLULFHUFKHHSURYHGLODERUDWRULRµSHULO,QUDJLRQHGHOO·DUHDVSHFLDOLVWLFD
G·LQWHUYHQWR VL HYLGHQ]LD QHO FOXVWHU GHL FDVL OD PDJJLRUH FRQFHQWUD]LRQH GL FRPSHQVL GHULYDQWL
GDOO·DWWLYLWjGLVWLPHGLJHRULVRUVHHGLGURJHRORJLD
1HOO·DPELWR GHOO·DWWLYLWj GL ´SURJHWWD]LRQHµ VL ULOHYD SL GL IUHTXHQWH O·RWWHQLPHQWR GL FRPSHQVL GD SUHVWD]LRQL
FROOHJDWHDGRSHUHGLYDORUHILQRDHXURHGLQSDUWLFRODUHLOGHLVRJJHWWLRWWLHQHLOGHLFRPSHQVL
GDO ´SURJHWWR GHILQLWLYR HR HVHFXWLYRµ H LO GHULYD LO GHL FRPSHQVL GDO ´SURJHWWR SUHOLPLQDUH R GL
PDVVLPDµ
/DSURIHVVLRQHqVYROWDQHLFRQIURQWLGLXQDFOLHQWHODSLXWWRVWRHWHURJHQHDFRVWLWXLWDVRSUDWWXWWRGD´DOWUHLPSUHVH
H DOWUL HQWL SULYDWL FRPPHUFLDOL H QRQµ GHL FRPSHQVL SHU ROWUH OD PHWj GHL JHRORJL GHO FOXVWHU VRJJHWWL
SULYDWL SHU LO (QWL 3XEEOLFL 7HUULWRULDOL RVVLD &RPXQL &RPXQLWj 0RQWDQH $XWRULWj GL %DFLQR
3URYLQFHH5HJLRQLSHULOVWXGLWHFQLFLSHULOLPSUHVHGLFRVWUX]LRQLSHULO'D
ULOHYDUH LQROWUH FKH LO GHL VRJJHWWL UHDOL]]D FRQ LO FOLHQWH SULQFLSDOH XQD TXRWD VLJQLILFDWLYD GHL FRPSHQVL
6LWUDWWDGLSURIHVVLRQLVWLFKHSUHYDOHQWHPHQWHHVHUFLWDQRODSURIHVVLRQHDWLWRORLQGLYLGXDOHHFKHQHOODPDJJLRU
SDUWHGHLFDVLGLVSRQJRQRGLXQRVWXGLRSURSULRLQFOXGHQGRLQWDOHDFFH]LRQHO·XVRSURPLVFXRGHOO·DELWD]LRQHVL
HYLGHQ]LDWXWWDYLDFKHLOGHJOLDSSDUWHQHQWLDOFOXVWHUHVHUFLWDODSURSULDDWWLYLWjHVFOXVLYDPHQWHSUHVVRVWXGL
HRVWUXWWXUHGLWHU]L/DSUHVHQ]DGLSHUVRQDOHGLSHQGHQWHVLULVFRQWUDQHOO·GHLFDVL
'D ULOHYDUH LQILQH FKH SDUWH GHL JHRORJL GHO FOXVWHU GLFKLDUD GL VYROJHUH DQFKH DWWLYLWj GL ODYRUR GLSHQGHQWH D
WHPSRSLHQRRDWHPSRSDU]LDOHGHLFDVLH´DOWUHDWWLYLWjSURIHVVLRQDOLHRG·LPSUHVDµ
— 15 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&/867(5*(2/2*,63(&,$/,==$7,,1*(2/2*,$$33/,&$7$$//·$0%,(17(
180(526,7­
,O FOXVWHU FRPSUHQGH L JHRORJL FKH HVHUFLWDQR OD SURIHVVLRQH QHOO·DPELWR GHOOD JHRORJLD DSSOLFDWD DOO·DPELHQWH
DPELHQWH9,$SDUFKLERQLILFKHRWWHQHQGRQHO·GHLFRPSHQVL
&RQVLGHUDWD O·DUHD VSHFLDOLVWLFD G·LQWHUYHQWR QHO FOXVWHU VL HYLGHQ]LD OD PDJJLRUH FRQFHQWUD]LRQH GL FRPSHQVL
GHULYDQWL GDOO·DWWLYLWj GL FRQVXOHQ]D LQ DPELWR DPELHQWDOH GHL FRPSHQVL SHU LO GHL SURIHVVLRQLVWL GHO
FOXVWHUHGDOODYDOXWD]LRQHGLLPSDWWRDPELHQWDOHYDOXWD]LRQHDPELHQWDOHVWUDWHJLFDSHULO/HDWWLYLWj
VYROWH FRPSUHQGRQR LQROWUH OD VWHVXUD GL UHOD]LRQL JHRORJLFKHJHRWHFQLFKH H UHGD]LRQH GL HODERUDWL WHFQLFL LQ
DPELWLGLYHUVLGDOODSURJHWWD]LRQHGHLFRPSHQVLSHULOGHLJHRORJLGHOFOXVWHUOD´SURJHWWD]LRQHµ
SHULOJOL´DOWULULOHYDPHQWLJHRORJLFLLQGDJLQLJHRWHFQLFKHJHRILVLFKHVWXGLULFHUFKHHSURYHGLODERUDWRULRµ
SHULO
,Q PHULWR DOO·DWWLYLWj GL ´SURJHWWD]LRQHµ VL ULOHYD SL GL IUHTXHQWH O·RWWHQLPHQWR GL FRPSHQVL GD SUHVWD]LRQL
FROOHJDWHDGRSHUHGLYDORUHILQRDHXURHGLQSDUWLFRODUHLOGHLVRJJHWWLRWWLHQHLOGHLFRPSHQVL
GDO ´SURJHWWR SUHOLPLQDUH R GL PDVVLPDµ HG LO GHULYD LO GHL FRPSHQVL GDO ´SURJHWWR GHILQLWLYR HR
HVHFXWLYRµ
/DFOLHQWHODULVXOWDSLXWWRVWRHWHURJHQHDHFRPSUHQGH´DOWUHLPSUHVHHDOWULHQWLSULYDWLFRPPHUFLDOLHQRQµ
GHL FRPSHQVL (QWL 3XEEOLFL 7HUULWRULDOL RVVLD &RPXQL &RPXQLWj 0RQWDQH $XWRULWj GL %DFLQR 3URYLQFH H
5HJLRQLGHL FRPSHQVL SHU LO GHL JHRORJL GHOFOXVWHU VWXGL WHFQLFLSHU LO VRJJHWWL SULYDWL
SHULOVRFLHWjGLLQJHJQHULDSHULOLPSUHVHGLFRVWUX]LRQLSHU'DHYLGHQ]LDUH
FKHODSHUFHQWXDOHGHLVRJJHWWLFKHRWWLHQHXQDTXRWDVLJQLILFDWLYDGHLFRPSHQVLGDOFOLHQWHSULQFLSDOH
qODSLDOWDGHOVHWWRUH
6LWUDWWDGLSURIHVVLRQLVWLFKHSUHYDOHQWHPHQWHHVHUFLWDQRODSURIHVVLRQHDWLWRORLQGLYLGXDOHHFKHQHOODPDJJLRU
SDUWHGHLFDVLGLVSRQJRQRGLXQRVWXGLRSURSULRLQFOXGHQGRLQWDOHDFFH]LRQHO·XVRSURPLVFXRGHOO·DELWD]LRQHVL
HYLGHQ]LDWXWWDYLDFKHLOGHJOLDSSDUWHQHQWLDOFOXVWHUHVHUFLWDODSURSULDDWWLYLWjHVFOXVLYDPHQWHSUHVVRVWXGL
HRVWUXWWXUHGLWHU]L/DSUHVHQ]DGLSHUVRQDOHGLSHQGHQWHVLULVFRQWUDQHOGHLFDVL
*OL DSSDUWHQHQWL DO FOXVWHU IDQQR LQROWUH RVVHUYDUH LO YDORUH SL EDVVR DQQL LQ WHUPLQL GL DQ]LDQLWj
SURIHVVLRQDOH
'DULOHYDUHLQILQHFKHLOGHLVRJJHWWLGLFKLDUDGLVYROJHUHDQFKH´DOWUHDWWLYLWjSURIHVVLRQDOLHRG·LPSUHVDµ
&/867(5 *(2/2*,&+(35(9$/(17(0(17(23(5$121(//·$0%,72'(//$*(2/2*,$$33/,&$7$
$, 0,1(5$/, $//( 3,(75( $//( 5,&(5&+( 0,1(5$5,( (2 $//$ 5,&(5&$ ', )217,
(1(5*(7,&+(
180(526,7­
,OFOXVWHUFRPSUHQGHLJHRORJLFKHUHDOL]]DQRODTXRWDSULQFLSDOHGHLFRPSHQVLQHOOHDUHHGHOODJHRORJLDDSSOLFDWD
DL PLQHUDOL DOOH SLHWUH H DOOH ULFHUFKH PLQHUDULH GHL FRPSHQVL SHU LO GHL VRJJHWWL HR GHOOD JHRORJLD
DSSOLFDWDDOODULFHUFDGLIRQWLHQHUJHWLFKHSHULO
/H DWWLYLWj VYROWH GDJOL DSSDUWHQHQWL DO FOXVWHU LQFOXGRQR VRSUDWWXWWR OD VWHVXUD GL UHOD]LRQL
JHRORJLFKHJHRWHFQLFKH H OD UHGD]LRQH GL HODERUDWL WHFQLFL LQ DPELWL GLYHUVL GDOOD SURJHWWD]LRQH GHL
FRPSHQVLSHULOGHLVRJJHWWLOD´SURJHWWD]LRQHµSHULOODFRQVXOHQ]DLQDPELWRDPELHQWDOH
SHULOJOL´DOWULULOHYDPHQWLJHRORJLFLLQGDJLQLJHRWHFQLFKHJHRILVLFKHVWXGLULFHUFKHHSURYHGLODERUDWRULRµ
SHU LO OH VWLPHGL JHRULVRUVH HG LGURJHRORJLD SHU LO ,Q UDJLRQH GHOOH DUHH VSHFLDOLVWLFKH
G·LQWHUYHQWR VL HYLGHQ]LD QHO FOXVWHU GHL FDVL OD PDJJLRU FRQFHQWUD]LRQH GL FRPSHQVL GHULYDQWL
GDOO·DWWLYLWjGLGLUH]LRQHGLFDYH
3HU TXDQWR ULJXDUGD O·DWWLYLWj GL ´SURJHWWD]LRQHµ VL ULOHYD SL GL IUHTXHQWH O·RWWHQLPHQWR GL FRPSHQVL GD
SUHVWD]LRQLFROOHJDWHDGRSHUHGLYDORUHILQRDHXURHGLQSDUWLFRODUHLOGHLVRJJHWWLRWWLHQHLOGHL
FRPSHQVLGDO´SURJHWWRGHILQLWLYRHRHVHFXWLYRµHGLOGHULYDLOGHLFRPSHQVLGDO´SURJHWWRSUHOLPLQDUH
RGLPDVVLPDµ
/DSURIHVVLRQHqVYROWDVRSUDWWXWWRQHLFRQIURQWLGL´DOWUHLPSUHVHHDOWULHQWLSULYDWLFRPPHUFLDOLHQRQµ
GHL FRPSHQVL SHU LO GHL VRJJHWWL H GL LPSUHVH GL VIUXWWDPHQWR GL JHRULVRUVH SHU LO 'D
HYLGHQ]LDUHLQROWUHFKHLOGHJOLDSSDUWHQHQWLDOFOXVWHUUHDOL]]DFRQLOFOLHQWHSULQFLSDOHXQDTXRWDVLJQLILFDWLYD
GHLFRPSHQVL
— 16 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
6LWUDWWDGLSURIHVVLRQLVWLFKHSUHYDOHQWHPHQWHHVHUFLWDQRODSURIHVVLRQHDWLWRORLQGLYLGXDOHHFKHQHOODPDJJLRU
SDUWHGHLFDVLGLVSRQJRQRGLXQRVWXGLRSURSULRLQFOXGHQGRLQWDOHDFFH]LRQHO·XVRSURPLVFXRGHOO·DELWD]LRQHVL
HYLGHQ]LDWXWWDYLDFKHLOGHJOLDSSDUWHQHQWLDOFOXVWHUHVHUFLWDODSURSULDDWWLYLWjHVFOXVLYDPHQWHSUHVVRVWXGL
HRVWUXWWXUHGLWHU]L/DSUHVHQ]DGLSHUVRQDOHGLSHQGHQWHVLULVFRQWUDQHOGHLFDVL
'DULOHYDUHLQILQHFKHLOGHLJHRORJLGHOFOXVWHUGLFKLDUDGLHVVHUHSHQVLRQDWR
&/867(5 *(2/2*, &+( *(1(5$/0(17( 23(5$12 1(//·$0%,72 ', ',))(5(17, $5((
63(&,$/,67,&+(
180(526,7­
,OFOXVWHUqIRUPDWRGDJHRORJLSHULTXDOLLQJHQHUHQRQVLULOHYDXQDSDUWLFRODUHFRQFHQWUD]LRQHGHLFRPSHQVL
UHDOL]]DWLQHOO·DPELWRGLXQDVSHFLILFDDUHDVSHFLDOLVWLFD
/H DWWLYLWj HVSOHWDWH ULVXOWDQR GLYHUVLILFDWH H LQFOXGRQR SULQFLSDOPHQWH OD VWHVXUD GL UHOD]LRQL
JHRORJLFKHJHRWHFQLFKH H OD UHGD]LRQH GL HODERUDWL WHFQLFL LQ DPELWL GLYHUVL GDOOD SURJHWWD]LRQH GHL
FRPSHQVLSHULOGHLVRJJHWWLOD´SURJHWWD]LRQHµSHULOJOL´DOWULULOHYDPHQWLJHRORJLFLLQGDJLQL
JHRWHFQLFKH JHRILVLFKH VWXGL ULFHUFKH H SURYH GL ODERUDWRULRµ SHU LO OH FRQVXOHQ]H LQ DPELWR
DPELHQWDOHSHULOOHLQGDJLQLJHRJQRVWLFKHSHULO'DHYLGHQ]LDUHQHOFOXVWHUODPDJJLRU
FRQFHQWUD]LRQHGHOVHWWRUHGLVRJJHWWLFKHVYROJRQRDWWLYLWjGLFRQVXOHQ]DWHFQLFDG·XIILFLR
3HUTXDQWRULJXDUGDO·DWWLYLWjGL´SURJHWWD]LRQHµVLULOHYDFRQPDJJLRUIUHTXHQ]DO·RWWHQLPHQWRGLFRPSHQVLGD
SUHVWD]LRQLFROOHJDWHDGRSHUHGLYDORUHILQRDHXURHGLQSDUWLFRODUHLOGHLVRJJHWWLRWWLHQHLO
GHL FRPSHQVL GDO ´SURJHWWR GHILQLWLYR HR HVHFXWLYRµ HG LO GHULYD LO GHL FRPSHQVL GDO ´SURJHWWR
SUHOLPLQDUHRGLPDVVLPDµ
,OYHQWDJOLRGLFOLHQWHODSLXWWRVWRHWHURJHQHRFRPSUHQGH´DOWUHLPSUHVHHDOWULHQWLSULYDWLFRPPHUFLDOLHQRQµ
GHLFRPSHQVLVRJJHWWLSULYDWLVWXGLWHFQLFLGHLFRPSHQVLSHULOGHLJHRORJLGHOFOXVWHU
(QWL3XEEOLFL7HUULWRULDOLRVVLD&RPXQL&RPXQLWj0RQWDQH$XWRULWjGL%DFLQR3URYLQFHH5HJLRQLSHULO
LPSUHVHGLFRVWUX]LRQLSHULO6LHYLGHQ]LDLQROWUHFKHROWUHXQWHU]RGHLVRJJHWWLUHDOL]]DFRQLO
FOLHQWHSULQFLSDOHXQDTXRWDVLJQLILFDWLYDGHLFRPSHQVL
6LWUDWWDGLSURIHVVLRQLVWLFKHSUHYDOHQWHPHQWHHVHUFLWDQRODSURIHVVLRQHDWLWRORLQGLYLGXDOHHFKHQHOODPDJJLRU
SDUWHGHLFDVLGLVSRQJRQRGLXQRVWXGLRSURSULRLQFOXGHQGRLQWDOHDFFH]LRQHO·XVRSURPLVFXRGHOO·DELWD]LRQH
/DSUHVHQ]DGLSHUVRQDOHGLSHQGHQWHVLULVFRQWUDQHOGHLFDVL
'DULOHYDUHLQILQHFKHLOGHLVRJJHWWLGLFKLDUDGLVYROJHUHDQFKH´DOWUHDWWLYLWjSURIHVVLRQDOLHRG·LPSUHVDµ
&/867(5 *(2/2*, &+( 35(9$/(17(0(17( 23(5$12 1(//·$0%,72 '(//$ 6,&85(==$ '(/
7(55,725,2 '(//$ *(2/2*,$ $33/,&$7$ $//$ 3,$1,),&$=,21( 7(55,725,$/( (2
$//$',)(6$'(/682/2
180(526,7­
,O FOXVWHU q IRUPDWR GD SURIHVVLRQLVWL FKHUHDOL]]DQR OD TXRWD SUHYDOHQWH GHL FRPSHQVL QHOOH DUHH GHOOD JHRORJLD
DSSOLFDWDDOODSLDQLILFD]LRQHWHUULWRULDOHVWUXPHQWLXUEDQLVWLFLGHLFRPSHQVLSHULOGHLVRJJHWWLGHOOD
JHRORJLD DSSOLFDWD DOOD GLIHVD GHO VXROR SHU LO HR GHOOD VLFXUH]]D GHO WHUULWRULR DQDOLVL GHO ULVFKLR
JHRORJLFRHLGURJHRORJLFRSHULO
7UD OH DWWLYLWj VYROWH FKH ULVXOWDQR SLXWWRVWR GLYHUVLILFDWH VL VHJQDODQR FRQ PDJJLRU IUHTXHQ]D OD VWHVXUD GL
UHOD]LRQL JHRORJLFKHJHRWHFQLFKH H OD UHGD]LRQH GL HODERUDWL WHFQLFL LQ DPELWL GLYHUVL GDOOD SURJHWWD]LRQH H OD
´SURJHWWD]LRQHµ HQWUDPEH FRQ XQ LQFLGHQ]D GHO GHL FRPSHQVL ULVSHWWLYDPHQWH SHU LO HG LO GHL
VRJJHWWLJOL´DOWULULOHYDPHQWLJHRORJLFLLQGDJLQLJHRWHFQLFKHJHRILVLFKHVWXGLULFHUFKHHSURYHGLODERUDWRULRµ
GHL FRPSHQVL SHU LO GHL VRJJHWWL H OH LQGDJLQL JHRJQRVWLFKH SHU LO 6L ULOHYD LQROWUH OD
SUHVHQ]DQHOFOXVWHUGLSURIHVVLRQLVWLFKHRULJLQDQRXQDTXRWDSLXWWRVWRVLJQLILFDWLYDGLFRPSHQVLGDOODUHGD]LRQH
GLFDUWHWHPDWLFKH
,QPHULWRDOO·DWWLYLWjGL´SURJHWWD]LRQHµVLHYLGHQ]LDSLGLIUHTXHQWHO·RWWHQLPHQWRGLFRPSHQVLGDSUHVWD]LRQL
FROOHJDWHDGRSHUHGLYDORUHILQRDHXURHGLQSDUWLFRODUHLOGHLVRJJHWWLRWWLHQHLOGHLFRPSHQVL
GDO ´SURJHWWR GHILQLWLYR HR HVHFXWLYRµ HG LO GHULYD LO GHL FRPSHQVL GDO ´SURJHWWR SUHOLPLQDUH R GL
PDVVLPDµ
/DWLSRORJLDGLFOLHQWHODULVXOWDQHOFRPSOHVVRSLXWWRVWRHWHURJHQHDVLULOHYDWXWWDYLDFKHODPHWjGHJOLDSSDUWHQHQWL
DO FOXVWHU RSHUD SUHYDOHQWHPHQWH SHU (QWL 3XEEOLFL 7HUULWRULDOL RVVLD &RPXQL &RPXQLWj 0RQWDQH $XWRULWj GL
— 17 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
%DFLQR 3URYLQFH H 5HJLRQL FRQ XQ·LQFLGHQ]D VXL FRPSHQVL GHO 'D HYLGHQ]LDUH LQROWUH FKH LO GHL
VRJJHWWLUHDOL]]DFRQLOFOLHQWHSULQFLSDOHXQDTXRWDVLJQLILFDWLYDGHLFRPSHQVL
6LWUDWWDGLSURIHVVLRQLVWLFKHSUHYDOHQWHPHQWHHVHUFLWDQRODSURIHVVLRQHDWLWRORLQGLYLGXDOHHFKHQHOODPDJJLRU
SDUWHGHLFDVLGLVSRQJRQRGLXQRVWXGLRSURSULRLQFOXGHQGRLQWDOHDFFH]LRQHO·XVRSURPLVFXRGHOO·DELWD]LRQH
/DSUHVHQ]DGLSHUVRQDOHGLSHQGHQWHVLULVFRQWUDQHOO·GHLFDVL
'D ULOHYDUH LQILQH FKH LO GHL JHRORJL GHO FOXVWHU GLFKLDUD GL VYROJHUH DQFKH DWWLYLWj GL ODYRUR GLSHQGHQWH D
WHPSRSLHQRRDWHPSRSDU]LDOHHGLOGLHVVHUHSHQVLRQDWR
— 18 —
$UHHVSHFLDOLVWLFKH*HRORJLDDSSOLFDWDDOO
DPELHQWH
DPELHQWH9,$SDUFKLERQLILFKH
*HRORJLDDSSOLFDWDDLPLQHUDOLDOOHSLHWUHDOOHULFHUFKHPLQHUDULHHDOOD
ULFHUFDGLIRQWLHQHUJHWLFKH
$UHHVSHFLDOLVWLFKH*HRORJLDDSSOLFDWDDOO
LQJHJQHULDHGLOL]LD
FLYLOHRSHUHLGUDXOLFKHDHURSRUWL
*HRORJLDDSSOLFDWDDOODGLIHVDGHOVXRORDOODSLDQLILFD]LRQHWHUULWRULDOH
HVLFXUH]]DGHOWHUULWRULR
$UHHVSHFLDOLVWLFKH,GURJHRORJLDDFTXHPLQHUDOLHWHUPDOL
VRWWHUUDQHHLQTXLQDPHQWRDFTXHHGLVFDULFKH
&/867(5
9$5,$%,/(
$UHHVSHFLDOLVWLFKH5LOHYDPHQWRJHRORJLFRGLEDVHH
WHPDWLFR
,QWHUFHWWD
&/867(5
&/867(5
&/867(5
&/867(5
&/867(5
&/867(5
— 19 —
DOODSLDQLILFD]LRQHWHUULWRULDOHVWUXPHQWLXUEDQLVWLFL$UHHVSHFLDOLVWLFKH6LFXUH]]DGHOWHUULWRULRDQDOLVLGHOULVFKLRJHRORJLFRHLGURJHRORJLFR
*HRORJLDDSSOLFDWDDOODGLIHVDGHOVXRORDOODSLDQLILFD]LRQHWHUULWRULDOHHVLFXUH]]DGHOWHUULWRULR $UHHVSHFLDOLVWLFKH*HRORJLDDSSOLFDWDDOODGLIHVDGHOVXROR$UHHVSHFLDOLVWLFKH*HRORJLDDSSOLFDWD
VSHFLDOLVWLFKH*HRORJLDDSSOLFDWDDOODULFHUFDGLIRQWLHQHUJHWLFKH
*HRORJLDDSSOLFDWDDLPLQHUDOLDOOHSLHWUHDOOHULFHUFKHPLQHUDULHHDOODULFHUFDGLIRQWLHQHUJHWLFKH $UHHVSHFLDOLVWLFKH*HRORJLDDSSOLFDWDDLPLQHUDOLDOOHSLHWUHHDOOHULFHUFKHPLQHUDULH$UHH
68%$//(*$72%3(6,'(//()81=,21,',6&5,0,1$17,
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72&²)2508/('(*/,,1',&$725,
'L VHJXLWR VRQR ULSRUWDWH OH IRUPXOH GHJOL LQGLFDWRUL HFRQRPLFRFRQWDELOL XWLOL]]DWL LQ FRVWUX]LRQH HR
DSSOLFD]LRQHGHOORVWXGLRGLVHWWRUH
•
•
•
•
•
•
,QFLGHQ]D GHOOH DOWUH FRPSRQHQWL QHJDWLYH DO QHWWR GHL FDQRQL GL ORFD]LRQH VXL FRPSHQVL $OWUH
FRPSRQHQWLQHJDWLYHQHWWH&RPSHQVLGLFKLDUDWL
,QFLGHQ]D GHOOH VSHVH VXL FRPSHQVL 6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH 6SHVH SHU
SUHVWD]LRQL GL FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL
GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H DUWLVWLFD &RQVXPL $OWUH VSHVH $OWUH FRPSRQHQWL
QHJDWLYHQHWWH&RPSHQVLGLFKLDUDWL
,QGLFH GL FRSHUWXUD GHO FRVWR SHU LO JRGLPHQWR GL EHQL GL WHU]L H GHJOL DPPRUWDPHQWL 0DUJLQH
QHWWR&DQRQL GL ORFD]LRQH ILQDQ]LDULD H QRQ ILQDQ]LDULD UHODWLYL D EHQL LPPRELOL &DQRQL GL ORFD]LRQH
ILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLVWUXPHQWDOLPRELOL$PPRUWDPHQWL
0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWR 0DUJLQH3URIHVVLRQLVWLWLWRODULGHOORVWXGLR
5HQGLPHQWR ORUGR SHU DGGHWWR LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R
DVVLPLODWR 9DORUHFUHDWRGDOORVWXGLRSURIHVVLRQDOH$GGHWWL
5HVD RUDULDSHU DGGHWWR &RPSHQVL GLFKLDUDWL ² 6SHVH SHU SUHVWD]LRQL GL FROODERUD]LRQH FRRUGLQDWDH
FRQWLQXDWLYD ² &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H
DUWLVWLFD1XPHURDGGHWWL
1HOODVRODIDVHGLFRVWUX]LRQHL&RPSHQVLGLFKLDUDWLLQFOXGRQRDQFKHO·$GHJXDPHQWRGDVWXGLGLVHWWRUH
,QIDVHGLDSSOLFD]LRQHGHOO·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFD´,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQH
VXLFRPSHQVLµYHQJRQRXWLOL]]DWLL
&RPSHQVLGDFRQJUXLWj &RPSHQVRSXQWXDOHGDDQDOLVLGHOODFRQJUXLWj
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHLSURIHVVLRQLVWLWLWRODULGHOORVWXGLR
3URIHVVLRQLVWLWLWRODULGHOORVWXGLR 7LWRODUH
SURIHVVLRQLVWDFKHRSHUDLQIRUPD
LQGLYLGXDOH
3URIHVVLRQLVWLWLWRODULGHOORVWXGLR 1XPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQH
HVHUFL]LRFROOHWWLYRGHOO·DWWLYLWj
SURIHVVLRQDOH
,OWLWRODUHqSDULD
,OQXPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHqSDULDOODUHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
,OWLWRODUHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
6HLSURIHVVLRQLVWLWLWRODULGHOORVWXGLRVRQRLQIHULRUL D´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVRDOORUDL
SURIHVVLRQLVWLWLWRODULGHOORVWXGLRVRQRSDULDOYDORUHPDVVLPRWUDSURIHVVLRQLVWLWLWRODULGHOORVWXGLRH7LWRODUH²1XPHURGLSHQGHQWL
,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHJOLDGGHWWL
7LWRODUH1XPHURGLSHQGHQWL
$GGHWWL SURIHVVLRQLVWDFKHRSHUDLQIRUPD
LQGLYLGXDOH
1XPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH 1XPHUR
$GGHWWL GLSHQGHQWL
HVHUFL]LRFROOHWWLYRGHOO·DWWLYLWj
SURIHVVLRQDOH
,OWLWRODUHqSDULD,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
,OQXPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHqSDULDOODUHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
,OWLWRODUHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
*OL$GGHWWLQRQSRVVRQRHVVHUHLQIHULRULD´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVR
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHOQXPHURGLDGGHWWL
1XPHURDGGHWWL ´)DWWRUHFRUUHWWLYRLQGLYLGXDOHµ1XPHURGLSHQGHQWL
SURIHVVLRQLVWDFKH RSHUDLQIRUPD
LQGLYLGXDOH
— 20 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
'RYH
• $OWUHFRPSRQHQWLQHJDWLYHQHWWH $OWUHFRPSRQHQWLQHJDWLYH²&DQRQLGLORFD]LRQHILQDQ]LDULDHQRQ
ILQDQ]LDULD UHODWLYL D EHQL LPPRELOL ² &DQRQL GL ORFD]LRQH ILQDQ]LDULD H QRQ ILQDQ]LDULD UHODWLYL D EHQL
VWUXPHQWDOLPRELOL;
• 0DUJLQH 9DORUHFUHDWRGDOORVWXGLRSURIHVVLRQDOH²6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH
• 0DUJLQH QHWWR 0DUJLQH ² >6RJOLD PLQLPD GL FRHUHQ]D GHO PDUJLQH GHO SURIHVVLRQLVWD 3URIHVVLRQLVWLWLWRODULGHOORVWXGLR@
• 9DORUH FUHDWR GDOOR VWXGLR SURIHVVLRQDOH &RPSHQVL GLFKLDUDWL ² 6SHVH SHU SUHVWD]LRQL GL
FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD ² &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH
DIIHUHQWLO·DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD²&RQVXPL²$OWUHVSHVH²$OWUHFRPSRQHQWLQHJDWLYHQHWWH
1XPHURDGGHWWL 1XPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH ´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ HVHUFL]LRFROOHWWLYR 1XPHURGLSHQGHQWL
GHOO·DWWLYLWj
SURIHVVLRQDOH
/D GHILQL]LRQH GHO ´)DWWRUH FRUUHWWLYR LQGLYLGXDOHµ H GHO ´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ q ULSRUWDWD QHOOD ´1RWD DOOD YDULDELOH GL
UHJUHVVLRQH2UHGHGLFDWHDOO·DWWLYLWjµ,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
/DVRJOLDPLQLPDGLFRHUHQ]DGHOPDUJLQHGHOSURIHVVLRQLVWDqODVRJOLDPLQLPDGHOO·LQGLFDWRUH´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGL
VSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWRµDSSOLFDWDDOO·LQWHUDSODWHDGHLFRQWULEXHQWL
— 21 —
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU*HRORJLVSHFLDOL]]DWLLQJHRORJLDDSSOLFDWDDOO
LQJHJQHULD
68%$//(*$72'²',675,%8=,21,9(17,/,&+(,1',&$725,',&2(5(1=$
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 22 —
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 23 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 24 —
Serie generale - n. 301
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU*HRORJLVSHFLDOL]]DWLQHOULOHYDPHQWRJHRORJLFRGLEDVHHWHPDWLFR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 25 —
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 26 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 27 —
Serie generale - n. 301
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU*HRORJLVSHFLDOL]]DWLLQLGURJHRORJLD
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 28 —
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 29 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Serie generale - n. 301
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 30 —
Serie generale - n. 301
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU*HRORJLVSHFLDOL]]DWLLQJHRORJLDDSSOLFDWDDOO
DPELHQWH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 31 —
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 32 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Serie generale - n. 301
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 33 —
Serie generale - n. 301
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU*HRORJLFKHSUHYDOHQWHPHQWHRSHUDQRQHOO
DPELWRGHOODJHRORJLDDSSOLFDWDDLPLQHUDOLDOOHSLHWUHDOOHULFHUFKHPLQHUDULHHRDOODULFHUFDGL
IRQWLHQHUJHWLFKH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 34 —
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 35 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 36 —
Serie generale - n. 301
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU*HRORJLFKHJHQHUDOPHQWHRSHUDQRQHOO
DPELWRGLGLIIHUHQWLDUHHVSHFLDOLVWLFKH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 37 —
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 38 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Serie generale - n. 301
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 39 —
Serie generale - n. 301
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU*HRORJLFKHSUHYDOHQWHPHQWHRSHUDQRQHOO
DPELWRGHOODVLFXUH]]DGHOWHUULWRULRGHOODJHRORJLDDSSOLFDWDDOODSLDQLILFD]LRQHWHUULWRULDOHHRDOOD
GLIHVDGHOVXROR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 40 —
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 41 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
,QGLFDWRUH
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 42 —
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
68%$//(*$72(9$/25,62*/,$3(5*/,,1',&$725,',&2(5(1=$
&OXVWHU
0RGDOLWjGLGLVWULEX]LRQH
5HQGLPHQWRORUGR
SHUDGGHWWRLQ
SUHVHQ]DGLVSHVH
SHUSUHVWD]LRQLGL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQ
PLJOLDLDGLHXUR
6RJOLDPLQLPD
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
&OXVWHU
0RGDOLWjGLGLVWULEX]LRQH
5HVDRUDULDSHU
DGGHWWR
6RJOLD
PDVVLPD
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
— 43 —
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&OXVWHU
0RGDOLWjGLGLVWULEX]LRQH
0DUJLQHGHOSURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWRLQ
PLJOLDLDGLHXUR
6RJOLDPLQLPD
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL
*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL
*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL
*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL
*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL
*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL
*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL
*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSR
WHUULWRULDOH
— 44 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
&OXVWHU
0RGDOLWjGLGLVWULEX]LRQH
0DUJLQHGHOSURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWRLQ
PLJOLDLDGLHXUR
6RJOLDPLQLPD
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL
*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL
*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL
*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL
*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL
*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL
*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL
*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSR
WHUULWRULDOH
— 45 —
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&OXVWHU
0RGDOLWjGLGLVWULEX]LRQH
,QFLGHQ]DGHOOHVSHVHVXL
FRPSHQVL
6RJOLD
PLQLPD
6RJOLD
PDVVLPD
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
— 46 —
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO 7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
— 47 —
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
&OXVWHU*HRORJLVSHFLDOL]]DWLLQJHRORJLDDSSOLFDWDDOO
DPELHQWH
&OXVWHU*HRORJLVSHFLDOL]]DWLLQLGURJHRORJLD
&OXVWHU*HRORJLVSHFLDOL]]DWLQHOULOHYDPHQWRJHRORJLFRGLEDVHHWHPDWLFR
&OXVWHU*HRORJLVSHFLDOL]]DWLLQJHRORJLDDSSOLFDWDDOO
LQJHJQHULD
68%$//(*$72)²',675,%8=,21,9(17,/,&+(,1',&$725,',1250$/,7­(&2120,&$
30-12-2014
Serie generale - n. 301
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
— 48 —
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
&OXVWHU*HRORJLFKHSUHYDOHQWHPHQWHRSHUDQRQHOO
DPELWRGHOODVLFXUH]]DGHOWHUULWRULRGHOODJHRORJLDDSSOLFDWDDOODSLDQLILFD]LRQHWHUULWRULDOHHRDOOD
GLIHVDGHOVXROR
&OXVWHU*HRORJLFKHJHQHUDOPHQWHRSHUDQRQHOO
DPELWRGLGLIIHUHQWLDUHHVSHFLDOLVWLFKH
&OXVWHU*HRORJLFKHSUHYDOHQWHPHQWHRSHUDQRQHOO
DPELWRGHOODJHRORJLDDSSOLFDWDDLPLQHUDOLDOOHSLHWUHDOOHULFHUFKHPLQHUDULHHRDOODULFHUFDGL
IRQWLHQHUJHWLFKH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72*9$/25,62*/,$3(5*/,,1',&$725,',1250$/,7­(&2120,&$
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
0RGDOLWjGL
QHWWRGHLFDQRQLGL
&OXVWHU
GLVWULEX]LRQH ORFD]LRQHVXLFRPSHQVL
6RJOLDPDVVLPD
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
— 49 —
— 50 —
1XPHURULIHULWRDOODYDULDELOHDJJUHJDWRQƒ
1XPHURULIHULWRDOODYDULDELOHDJJUHJDWRQƒ
1XPHURULIHULWRDOODYDULDELOHDJJUHJDWRQƒ
1XPHURULIHULWRD$OWULULOHYDPHQWLJHRORJLFLLQGDJLQLJHRWHFQLFKH
JHRILVLFKHVWXGLULFHUFKHHSURYHGLODERUDWRULRSRQGHUDWRFRQLO
UHODWLYRFRPSHQVRPHGLR
1XPHURULIHULWRD&RQVXOHQ]HLQDPELWRDPELHQWDOHSRQGHUDWR
FRQLOUHODWLYRFRPSHQVRPHGLR
1XPHURULIHULWRD&RQVXOHQ]DWHFQLFDG
XIILFLRSRQGHUDWRFRQLO
UHODWLYRFRPSHQVRPHGLR
1XPHURULIHULWRD6WLPHGLJHRULVRUVHHGLGURJHRORJLDSRQGHUDWR
FRQLOUHODWLYRFRPSHQVRPHGLR
1XPHURULIHULWRD9DOXWD]LRQHGLLPSDWWRDPELHQWDOH9DOXWD]LRQH
$PELHQWDOH6WUDWHJLFDSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLR
1XPHURULIHULWRD,QGDJLQLJHRJQRVWLFKHSRQGHUDWRFRQLOUHODWLYR
FRPSHQVRPHGLR
1XPHURULIHULWRD5HGD]LRQHGLFDUWHWHPDWLFKHSRQGHUDWRFRQLO
UHODWLYRFRPSHQVRPHGLR
1XPHURULIHULWRD5HOD]LRQLJHRORJLFKHJHRWHFQLFKHHUHGD]LRQHGL
HODERUDWLWHFQLFLLQDPELWLGLYHUVLGDOODSURJHWWD]LRQHSRQGHUDWR
FRQLOUHODWLYRFRPSHQVRPHGLR
1XPHURULIHULWRD5LOHYDPHQWLJHRORJLFLGLVXSHUILFLHHVWXGL
IRWRJHRORJLFLSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLR
&RQVXPL
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
$OWUHVSHVH
&RQVXPL$OWUHVSHVH
1XPHURULIHULWRDOODYDULDELOHDJJUHJDWRQƒ
1XPHURULIHULWRDOODYDULDELOHDJJUHJDWRQƒ
&/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5
1XPHURULIHULWRDOODYDULDELOHDJJUHJDWRQƒ
9$5,$%,/(
1XPHURULIHULWRDOODYDULDELOHDJJUHJDWRQƒ
68%$//(*$72+&2()),&,(17,'(//()81=,21,',&203(162
30-12-2014
Serie generale - n. 301
9$5,$%,/(
&/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5
6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH6SHVHSHUSUHVWD]LRQL
GLFROODERUD]LRQHFRRUGLQDWDHFRQWLQXDWLYD&RPSHQVLFRUULVSRVWL
DWHU]LSHUSUHVWD]LRQLGLUHWWDPHQWHDIIHUHQWLO
DWWLYLWjSURIHVVLRQDOHH
DUWLVWLFD
2UHGHGLFDWHDOO·DWWLYLWjGLIIHUHQ]LDOHUHODWLYRDOODWHUULWRULDOLWj
GHOOLYHOORGHOUHGGLWRVXEDVHSURYLQFLDOH
6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH6SHVHSHUSUHVWD]LRQL
GLFROODERUD]LRQHFRRUGLQDWDHFRQWLQXDWLYD&RPSHQVLFRUULVSRVWL
DWHU]LSHUSUHVWD]LRQLGLUHWWDPHQWHDIIHUHQWLO
DWWLYLWjSURIHVVLRQDOHH
DUWLVWLFD&RQVXPL$OWUHVSHVH
1XPHURULIHULWRD3URJHWWRSUHOLPLQDUHRGLPDVVLPDLPSRUWR
RSHUHILQRDHXURSRQGHUDWRFRQLOUHODWLYRFRPSHQVR
PHGLR
1XPHURULIHULWRD3URJHWWRGHILQLWLYRHRHVHFXWLYRLPSRUWRRSHUH
ILQRDHXURSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLR
1XPHURULIHULWRD3URJHWWRGHILQLWLYRHRHVHFXWLYRLPSRUWRRSHUH
ROWUHHXURHILQRDHXURSRQGHUDWRFRQLO
UHODWLYRFRPSHQVRPHGLR
1XPHURULIHULWRD3URJHWWRGHILQLWLYRHRHVHFXWLYRLPSRUWRRSHUH
ROWUHHXURSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLR
1XPHURULIHULWRD'LUH]LRQHODYRULDVVLVWHQ]DDOFROODXGR
OLTXLGD]LRQLLPSRUWRRSHUHILQRDHXURSRQGHUDWRFRQLO
UHODWLYRFRPSHQVRPHGLR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 51 —
Serie generale - n. 301
/HYDULDELOL6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH6SHVHSHUSUHVWD]LRQLGLFROODERUD]LRQHFRRUGLQDWDHFRQWLQXDWLYD&RPSHQVLFRUULVSRVWLDWHU]L SHUSUHVWD]LRQLGLUHWWDPHQWH
DIIHUHQWLO
DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD&RQVXPL$OWUHVSHVHH2UHGHGLFDWHDOO
DWWLYLWjVRQRSRQGHUDWHSHUODSHUFHQWXDOHVXLFRPSHQVLGHO7RWDOHLQFDULFKLGL6WDELOLFROODERUD]LRQL
FRQVWXGLHRVWUXWWXUHGLWHU]L$OWUHDWWLYLWjGLYLVR
,OFRPSHQVRSXQWXDOHHLOFRPSHQVRPLQLPRVHQHJDWLYLVRQRSRVWLXJXDOLD]HUR
3HULOGHWWDJOLRYHGL´1RWDDLFRHIILFLHQWLGHOODIXQ]LRQHGLFRPSHQVRµ
3HULOGHWWDJOLRYHGL´1RWDDOODYDULDELOHGLUHJUHVVLRQH2UHGHGLFDWHDOO·DWWLYLWjµ
9DULDELOLFRQWDELOLHVSUHVVHLQHXUR
,OGLIIHUHQ]LDOHWHUULWRULDOHULIHULWRDGXQDYDULDELOHGHOODIXQ]LRQHGLFRPSHQVRqFDOFRODWRPROWLSOLFDQGRODYDULDELOHVWHVVDSHULOYDORUHGHOO·LQGLFDWRUHUHODWLYRDOODWHUULWRULDOLWjXWLOL]]DWD
WDOHGLIIHUHQ]LDOHqDUURWRQGDWRDOODTXDUWDFLIUDGHFLPDOH
'RYH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 52 —
Serie generale - n. 301
127$$,&2()),&,(17,'(//$)81=,21(',&203(162
3HURJQL7LSRORJLDGHOO·DWWLYLWjLOFRPSHQVRPHGLRULFKLDPDWRQHLGHWWDJOLDVHJXLUHqFDOFRODWRFRPH&RPSHQVLGLFKLDUDWLSHUFHQWXDOHVXLFRPSHQVLGHO7RWDOHLQFDULFKLGLYLVR
GLYLVR1XPHUR7RWDOHLQFDULFKLULIHULWRDOO·DWWLYLWj6LSUHFLVDFKHWXWWHOHYDULDELOLDVHJXLUHDVVXPRQRYDORUHSDULD]HURLQFDVRGL&RPSHQVLGLFKLDUDWLSDULD]HURHFKHSHULOGHWWDJOLR
GHOOHVRJOLHLQIHULRULSURYLQFLDOLGLULIHULPHQWRVLULPDQGDDOODWDEHOOD´9DORULVRJOLDLQIHULRUHDOLYHOORSURYLQFLDOHGHOOD7LSRORJLDGHOO·DWWLYLWjµ
/DYDULDELOH1XPHURULIHULWRD$OWULULOHYDPHQWLJHRORJLFLLQGDJLQLJHRWHFQLFKHJHRILVLFKHVWXGLULFHUFKHHSURYHGLODERUDWRULRSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHUR7RWDOHLQFDULFKLULIHULWRD$OWULULOHYDPHQWLJHRORJLFLLQGDJLQLJHRWHFQLFKHJHRILVLFKHVWXGLULFHUFKHHSURYHGLODERUDWRULRPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD$OWULULOHYDPHQWLJHRORJLFLLQGDJLQLJHRWHFQLFKHJHRILVLFKHVWXGLULFHUFKHHSURYHGLODERUDWRULRHODVRJOLDLQIHULRUHSURYLQFLDOH
GLULIHULPHQWRGLYLVR
/DYDULDELOH1XPHURULIHULWRD&RQVXOHQ]HLQDPELWRDPELHQWDOHSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHUR7RWDOHLQFDULFKLULIHULWRD&RQVXOHQ]HLQDPELWRDPELHQWDOHPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD&RQVXOHQ]HLQDPELWRDPELHQWDOHHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWRGLYLVR
/DYDULDELOH1XPHURULIHULWRD&RQVXOHQ]DWHFQLFDG
XIILFLRSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHUR7RWDOHLQFDULFKLULIHULWRD&RQVXOHQ]DWHFQLFDG
XIILFLRPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD&RQVXOHQ]DWHFQLFDG
XIILFLRHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWRGLYLVR
/DYDULDELOH1XPHURULIHULWRD6WLPHGLJHRULVRUVHHGLGURJHRORJLDSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHUR7RWDOHLQFDULFKLULIHULWRD6WLPHGLJHRULVRUVHHGLGURJHRORJLDPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD6WLPHGLJHRULVRUVHHGLGURJHRORJLDHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWRGLYLVR
/DYDULDELOH1XPHURULIHULWRD9DOXWD]LRQHGLLPSDWWRDPELHQWDOH9DOXWD]LRQH$PELHQWDOH6WUDWHJLFDSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHUR7RWDOHLQFDULFKLULIHULWRD9DOXWD]LRQHGLLPSDWWRDPELHQWDOH9DOXWD]LRQH$PELHQWDOH6WUDWHJLFDPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD9DOXWD]LRQHGLLPSDWWRDPELHQWDOH9DOXWD]LRQH$PELHQWDOH6WUDWHJLFDHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWR
GLYLVR
/DYDULDELOH1XPHURULIHULWRD,QGDJLQLJHRJQRVWLFKHSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHUR7RWDOHLQFDULFKLULIHULWRD,QGDJLQLJHRJQRVWLFKHPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD,QGDJLQLJHRJQRVWLFKHHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWRGLYLVR
/DYDULDELOH1XPHURULIHULWRD5HGD]LRQHGLFDUWHWHPDWLFKHSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHUR7RWDOHLQFDULFKLULIHULWRD5HGD]LRQHGLFDUWHWHPDWLFKHPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD5HGD]LRQHGLFDUWHWHPDWLFKHHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWRGLYLVR
/DYDULDELOH1XPHURULIHULWRD5HOD]LRQLJHRORJLFKHJHRWHFQLFKHHUHGD]LRQHGLHODERUDWLWHFQLFLLQDPELWLGLYHUVLGDOODSURJHWWD]LRQHSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHUR7RWDOHLQFDULFKLULIHULWRD5HOD]LRQLJHRORJLFKHJHRWHFQLFKHHUHGD]LRQHGLHODERUDWLWHFQLFLLQDPELWLGLYHUVLGDOODSURJHWWD]LRQHPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD5HOD]LRQLJHRORJLFKHJHRWHFQLFKHHUHGD]LRQHGL HODERUDWLWHFQLFLLQDPELWLGLYHUVLGDOODSURJHWWD]LRQH HODVRJOLDLQIHULRUH
SURYLQFLDOHGLULIHULPHQWRGLYLVR
/DYDULDELOH1XPHURULIHULWRD5LOHYDPHQWLJHRORJLFLGLVXSHUILFLHHVWXGLIRWRJHRORJLFLSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHUR7RWDOHLQFDULFKLULIHULWRD5LOHYDPHQWLJHRORJLFLGLVXSHUILFLHHVWXGLIRWRJHRORJLFLPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 53 —
Serie generale - n. 301
— 54 —
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD5LOHYDPHQWLJHRORJLFLGLVXSHUILFLHHVWXGLIRWRJHRORJLFLHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWRGLYLVR
/DYDULDELOH1XPHURULIHULWRD3URJHWWRSUHOLPLQDUHRGLPDVVLPDLPSRUWRRSHUHILQRDHXURSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHUR7RWDOHLQFDULFKLULIHULWRD3URJHWWRSUHOLPLQDUHRGLPDVVLPDLPSRUWRRSHUHILQRDHXURPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD3URJHWWRSUHOLPLQDUHRGLPDVVLPDLPSRUWRRSHUHILQRDHXURHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWR
GLYLVR
/DYDULDELOH1XPHURULIHULWRD3URJHWWRGHILQLWLYRHRHVHFXWLYRLPSRUWRRSHUHILQRDHXURSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHUR7RWDOHLQFDULFKLULIHULWRD3URJHWWRGHILQLWLYRHRHVHFXWLYRLPSRUWRRSHUHILQRDHXURPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD3URJHWWRGHILQLWLYRHRHVHFXWLYRLPSRUWRRSHUHILQRDHXURHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWRGLYLVR
/DYDULDELOH1XPHURULIHULWRD3URJHWWRGHILQLWLYRHRHVHFXWLYRLPSRUWRRSHUHROWUHHXURHILQRDHXURSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHUR7RWDOHLQFDULFKLULIHULWRD3URJHWWRGHILQLWLYRHRHVHFXWLYRLPSRUWRRSHUHROWUHHXURHILQRDHXURPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYH SHVR GL SRQGHUD]LRQH PDVVLPR WUD LO FRPSHQVR PHGLR ULIHULWR D 3URJHWWR GHILQLWLYR HR HVHFXWLYR LPSRUWR RSHUH ROWUH HXUR H ILQR D HXUR H OD VRJOLD LQIHULRUH
SURYLQFLDOHGLULIHULPHQWRGLYLVR
/DYDULDELOH1XPHURULIHULWRD3URJHWWRGHILQLWLYRHRHVHFXWLYRLPSRUWRRSHUHROWUHHXURSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHURULIHULWRD3URJHWWRGHILQLWLYRHRHVHFXWLYRLPSRUWRRSHUHROWUHHXURPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD3URJHWWRGHILQLWLYRHRHVHFXWLYRLPSRUWRRSHUHROWUHHXURHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWRGLYLVR
/DYDULDELOH1XPHURULIHULWRD'LUH]LRQHODYRULDVVLVWHQ]DDOFROODXGROLTXLGD]LRQLLPSRUWRRSHUHILQRDHXURSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHUR7RWDOHLQFDULFKLULIHULWRD'LUH]LRQHODYRULDVVLVWHQ]DDOFROODXGROLTXLGD]LRQLLPSRUWRRSHUHILQRDHXURPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD'LUH]LRQHODYRULDVVLVWHQ]DDOFROODXGROLTXLGD]LRQLLPSRUWRRSHUHILQRDHXURHODVRJOLDLQIHULRUHSURYLQFLDOHGL
ULIHULPHQWRGLYLVR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
9$5,$%,/(
7LSRORJLDGHOO
DWWLYLWj$OWULULOHYDPHQWLJHRORJLFLLQGDJLQL
JHRWHFQLFKHJHRILVLFKHVWXGLULFHUFKHHSURYHGLODERUDWRULR
7LSRORJLDGHOO
DWWLYLWj$QDOLVLSHWURJUDILFKHSDOHRQWRORJLFKHH
VHGLPHQWRORJLFKH
7LSRORJLDGHOO
DWWLYLWj$UELWUDWL
7LSRORJLDGHOO
DWWLYLWj&RQVXOHQ]HLQDPELWRDPELHQWDOH
7LSRORJLDGHOO
DWWLYLWj&RQVXOHQ]DWHFQLFDG
XIILFLR
7LSRORJLDGHOO
DWWLYLWj&RQVXOHQ]DJHRORJLFDSHUSURJHWWLLQ
VDQDWRULDHRGLDGHJXDPHQWRGHJOLVFDULFKLGHLUHIOXL
7LSRORJLDGHOO
DWWLYLWj&RQVXOHQ]DWHFQLFDLQVHGHGLFRQWHQ]LRVR
7LSRORJLDGHOO
DWWLYLWj'LUH]LRQHGLFDYH
7LSRORJLDGHOO
DWWLYLWj'LUH]LRQHGLODERUDWRULJHRWHFQLFL
7LSRORJLDGHOO
DWWLYLWj'LUH]LRQHWHFQLFDGLGLVFDULFKH
7LSRORJLDGHOO
DWWLYLWj6WLPHGLJHRULVRUVHHGLGURJHRORJLD
7LSRORJLDGHOO
DWWLYLWj*HVWLRQHGHOODVLFXUH]]D
7LSRORJLDGHOO
DWWLYLWj9DOXWD]LRQHGLLPSDWWR
DPELHQWDOH9DOXWD]LRQH$PELHQWDOH6WUDWHJLFD
7LSRORJLDGHOO
DWWLYLWj,QGDJLQLJHRJQRVWLFKH
7LSRORJLDGHOO
DWWLYLWj5HGD]LRQHGLFDUWHWHPDWLFKH
7LSRORJLDGHOO
DWWLYLWj5HOD]LRQLJHRORJLFKHJHRWHFQLFKHH
UHGD]LRQHGLHODERUDWLWHFQLFLLQDPELWLGLYHUVLGDOODSURJHWWD]LRQH
7LSRORJLDGHOO
DWWLYLWj5LOHYDPHQWLJHRORJLFLGLVXSHUILFLHHVWXGL
IRWRJHRORJLFL
7LSRORJLDGHOO
DWWLYLWj3URJHWWRSUHOLPLQDUHRGLPDVVLPDLPSRUWR
RSHUHILQRDHXUR
7DEHOOD$
— 55 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
&/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5
DESCRIZIONE VARIABILI AGGREGATE
/DYDULDELOH´1XPHURULIHULWRDOODYDULDELOHDJJUHJDWRQƒ<µqFDOFRODWDFRPHVRPPDGL
1XPHUR7RWDOHLQFDULFKLULIHULWRD9DU,PROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD9DU,HODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWRGLYLVRPLQ<
GRYH
• <qLGHQWLILFDWLYRGHOFOXVWHUGLDSSDUWHQHQ]D
• 9DU,SHURJQLFOXVWHULGHQWLILFDOHYDULDELOLLQFRUULVSRQGHQ]DGHOOHTXDOLF·qXQ´µQHOOD7DEHOOD$
• PLQ<SHURJQLFOXVWHUDVVXPHLYDORULULSRUWDWLQHOODWDEHOOD%
30-12-2014
Serie generale - n. 301
9$5,$%,/(
— 56 —
0LQ
9$5,$%,/(
7LSRORJLDGHOO
DWWLYLWj3URJHWWRSUHOLPLQDUHRGLPDVVLPDLPSRUWR
RSHUHROWUHHXURHILQRDHXUR
7LSRORJLDGHOO
DWWLYLWj3URJHWWRSUHOLPLQDUHRGLPDVVLPDLPSRUWR
RSHUHROWUHHXUR
7LSRORJLDGHOO
DWWLYLWj3URJHWWRGHILQLWLYRHRHVHFXWLYRLPSRUWR
RSHUHILQRDHXUR
7LSRORJLDGHOO
DWWLYLWj3URJHWWRGHILQLWLYRHRHVHFXWLYRLPSRUWR
RSHUHROWUHHXURHILQRDHXUR
7LSRORJLDGHOO
DWWLYLWj3URJHWWRGHILQLWLYRHRHVHFXWLYRLPSRUWR
RSHUHROWUHHXUR
7LSRORJLDGHOO
DWWLYLWj'LUH]LRQHODYRULDVVLVWHQ]DDOFROODXGR
OLTXLGD]LRQLLPSRUWRRSHUHILQRDHXUR
7LSRORJLDGHOO
DWWLYLWj'LUH]LRQHODYRULDVVLVWHQ]DDOFROODXGR
OLTXLGD]LRQLLPSRUWRRSHUHROWUHHXURHILQRDHXUR
7LSRORJLDGHOO
DWWLYLWj'LUH]LRQHODYRULDVVLVWHQ]DDOFROODXGR
OLTXLGD]LRQLLPSRUWRRSHUHROWUHHXUR
7DEHOOD%
&/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5
&/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$*
$/
$1
$2
$3
$4
$5
$7
$9
%$
%*
%,
%/
%1
%2
%5
%6
%7
%=
&$
&%
&(
&+
&,
&/
&1
&2
&5
&6
&7
5HOD]LRQL
JHRORJLFKHJHRWHFQLFKH
HUHGD]LRQHGLHODERUDWL
3URYLQFLD
WHFQLFLLQDPELWL
GLYHUVLGDOOD
SURJHWWD]LRQH
,QGDJLQL
JHRJQRVWLFKH
5LOHYDPHQWL
JHRORJLFLGL
VXSHUILFLHHVWXGL
IRWRJHRORJLFL
$OWULULOHYDPHQWL
$QDOLVL
JHRORJLFLLQGDJLQL
5HGD]LRQH 9DOXWD]LRQHGLLPSDWWR
SHWURJUDILFKH
6WLPHGLJHRULVRUVH
JHRWHFQLFKHJHRILVLFKH GLFDUWH DPELHQWDOH9DOXWD]LRQH
SDOHRQWRORJLFKHH
HGLGURJHRORJLD
VWXGLULFHUFKHHSURYH WHPDWLFKH $PELHQWDOH6WUDWHJLFD
VHGLPHQWRORJLFKH
GLODERUDWRULR
9$/25,62*/,$,1)(5,25($/,9(//23529,1&,$/('(//$7,32/2*,$'(//·$77,9,7­
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 57 —
Serie generale - n. 301
&=
(1
)&
)(
)*
),
)0
)5
*(
*2
*5
,0
,6
.5
/&
/(
/,
/2
/7
/8
0%
0&
0(
0,
01
02
06
07
1$
12
18
2*
5HOD]LRQL
JHRORJLFKHJHRWHFQLFKH
HUHGD]LRQHGLHODERUDWL
3URYLQFLD
WHFQLFLLQDPELWL
GLYHUVLGDOOD
SURJHWWD]LRQH
,QGDJLQL
JHRJQRVWLFKH
5LOHYDPHQWL
JHRORJLFLGL
VXSHUILFLHHVWXGL
IRWRJHRORJLFL
$OWULULOHYDPHQWL
$QDOLVL
JHRORJLFLLQGDJLQL
5HGD]LRQH 9DOXWD]LRQHGLLPSDWWR
SHWURJUDILFKH
6WLPHGLJHRULVRUVH
JHRWHFQLFKHJHRILVLFKH GLFDUWH DPELHQWDOH9DOXWD]LRQH
SDOHRQWRORJLFKHH
HGLGURJHRORJLD
VWXGLULFHUFKHHSURYH WHPDWLFKH $PELHQWDOH6WUDWHJLFD
VHGLPHQWRORJLFKH
GLODERUDWRULR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 58 —
Serie generale - n. 301
25
27
3$
3&
3'
3(
3*
3,
31
32
35
37
38
39
3=
5$
5&
5(
5*
5,
50
51
52
6$
6,
62
63
65
66
69
7$
7(
5HOD]LRQL
JHRORJLFKHJHRWHFQLFKH
HUHGD]LRQHGLHODERUDWL
3URYLQFLD
WHFQLFLLQDPELWL
GLYHUVLGDOOD
SURJHWWD]LRQH
,QGDJLQL
JHRJQRVWLFKH
5LOHYDPHQWL
JHRORJLFLGL
VXSHUILFLHHVWXGL
IRWRJHRORJLFL
$OWULULOHYDPHQWL
$QDOLVL
JHRORJLFLLQGDJLQL
5HGD]LRQH 9DOXWD]LRQHGLLPSDWWR
SHWURJUDILFKH
6WLPHGLJHRULVRUVH
JHRWHFQLFKHJHRILVLFKH GLFDUWH DPELHQWDOH9DOXWD]LRQH
SDOHRQWRORJLFKHH
HGLGURJHRORJLD
VWXGLULFHUFKHHSURYH WHPDWLFKH $PELHQWDOH6WUDWHJLFD
VHGLPHQWRORJLFKH
GLODERUDWRULR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 59 —
Serie generale - n. 301
71
72
73
75
76
79
8'
9$
9%
9&
9(
9,
95
96
97
99
5HOD]LRQL
JHRORJLFKHJHRWHFQLFKH
HUHGD]LRQHGLHODERUDWL
3URYLQFLD
WHFQLFLLQDPELWL
GLYHUVLGDOOD
SURJHWWD]LRQH
,QGDJLQL
JHRJQRVWLFKH
5LOHYDPHQWL
JHRORJLFLGL
VXSHUILFLHHVWXGL
IRWRJHRORJLFL
$OWULULOHYDPHQWL
$QDOLVL
JHRORJLFLLQGDJLQL
5HGD]LRQH 9DOXWD]LRQHGLLPSDWWR
SHWURJUDILFKH
6WLPHGLJHRULVRUVH
JHRWHFQLFKHJHRILVLFKH GLFDUWH DPELHQWDOH9DOXWD]LRQH
SDOHRQWRORJLFKHH
HGLGURJHRORJLD
VWXGLULFHUFKHHSURYH WHPDWLFKH $PELHQWDOH6WUDWHJLFD
VHGLPHQWRORJLFKH
GLODERUDWRULR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 60 —
Serie generale - n. 301
$*
$/
$1
$2
$3
$4
$5
$7
$9
%$
%*
%,
%/
%1
%2
%5
%6
%7
%=
&$
&%
&(
&+
&,
&/
&1
&2
&5
&6
&7
3URYLQFLD
*HVWLRQHGHOOD
VLFXUH]]D
&RQVXOHQ]HLQ
DPELWR
DPELHQWDOH
&RQVXOHQ]D
JHRORJLFDSHU
SURJHWWLLQ
VDQDWRULDHR
GL
DGHJXDPHQWR
GHJOLVFDULFKL
GHLUHIOXL
'LUH]LRQH
WHFQLFDGL
GLVFDULFKH
'LUH]LRQHGL
FDYH
'LUH]LRQHGL
ODERUDWRUL
JHRWHFQLFL
&RQVXOHQ]D
WHFQLFD
G
XIILFLR
&RQVXOHQ]D
WHFQLFDLQVHGH
GLFRQWHQ]LRVR
$UELWUDWL
3URJHWWR
SUHOLPLQDUHRGL
PDVVLPD
LPSRUWRRSHUH
ILQRDHXUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 61 —
Serie generale - n. 301
&=
(1
)&
)(
)*
),
)0
)5
*(
*2
*5
,0
,6
.5
/&
/(
/,
/2
/7
/8
0%
0&
0(
0,
01
02
06
07
1$
12
18
3URYLQFLD
*HVWLRQHGHOOD
VLFXUH]]D
&RQVXOHQ]HLQ
DPELWR
DPELHQWDOH
&RQVXOHQ]D
JHRORJLFDSHU
SURJHWWLLQ
VDQDWRULDHR
GL
DGHJXDPHQWR
GHJOLVFDULFKL
GHLUHIOXL
'LUH]LRQH
WHFQLFDGL
GLVFDULFKH
'LUH]LRQHGL
FDYH
'LUH]LRQHGL
ODERUDWRUL
JHRWHFQLFL
&RQVXOHQ]D
WHFQLFD
G
XIILFLR
&RQVXOHQ]D
WHFQLFDLQVHGH
GLFRQWHQ]LRVR
$UELWUDWL
3URJHWWR
SUHOLPLQDUHRGL
PDVVLPD
LPSRUWRRSHUH
ILQRDHXUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 62 —
Serie generale - n. 301
2*
25
27
3$
3&
3'
3(
3*
3,
31
32
35
37
38
39
3=
5$
5&
5(
5*
5,
50
51
52
6$
6,
62
63
65
66
69
3URYLQFLD
*HVWLRQHGHOOD
VLFXUH]]D
&RQVXOHQ]HLQ
DPELWR
DPELHQWDOH
&RQVXOHQ]D
JHRORJLFDSHU
SURJHWWLLQ
VDQDWRULDHR
GL
DGHJXDPHQWR
GHJOLVFDULFKL
GHLUHIOXL
'LUH]LRQH
WHFQLFDGL
GLVFDULFKH
'LUH]LRQHGL
FDYH
'LUH]LRQHGL
ODERUDWRUL
JHRWHFQLFL
&RQVXOHQ]D
WHFQLFD
G
XIILFLR
&RQVXOHQ]D
WHFQLFDLQVHGH
GLFRQWHQ]LRVR
$UELWUDWL
3URJHWWR
SUHOLPLQDUHRGL
PDVVLPD
LPSRUWRRSHUH
ILQRDHXUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 63 —
Serie generale - n. 301
7$
7(
71
72
73
75
76
79
8'
9$
9%
9&
9(
9,
95
96
97
99
3URYLQFLD
*HVWLRQHGHOOD
VLFXUH]]D
&RQVXOHQ]HLQ
DPELWR
DPELHQWDOH
&RQVXOHQ]D
JHRORJLFDSHU
SURJHWWLLQ
VDQDWRULDHR
GL
DGHJXDPHQWR
GHJOLVFDULFKL
GHLUHIOXL
'LUH]LRQH
WHFQLFDGL
GLVFDULFKH
'LUH]LRQHGL
FDYH
'LUH]LRQHGL
ODERUDWRUL
JHRWHFQLFL
&RQVXOHQ]D
WHFQLFD
G
XIILFLR
&RQVXOHQ]D
WHFQLFDLQVHGH
GLFRQWHQ]LRVR
$UELWUDWL
3URJHWWR
SUHOLPLQDUHRGL
PDVVLPD
LPSRUWRRSHUH
ILQRDHXUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 64 —
Serie generale - n. 301
$*
$/
$1
$2
$3
$4
$5
$7
$9
%$
%*
%,
%/
%1
%2
%5
%6
%7
%=
&$
&%
&(
&+
&,
&/
&1
&2
&5
&6
&7
&=
3URYLQFLD
3URJHWWR
SUHOLPLQDUHRGL
PDVVLPDLPSRUWR
RSHUHROWUHHXUR
HILQRD
HXUR
3URJHWWR
SUHOLPLQDUHRGL
PDVVLPDLPSRUWR
RSHUHROWUHHXUR
'LUH]LRQHODYRUL
'LUH]LRQHODYRUL
'LUH]LRQHODYRUL
DVVLVWHQ]DDO
3URJHWWRGHILQLWLYR
DVVLVWHQ]DDO
DVVLVWHQ]DDO
3URJHWWRGHILQLWLYR
3URJHWWRGHILQLWLYR
FROODXGR
HRHVHFXWLYR
FROODXGR
FROODXGR
HRHVHFXWLYR
HRHVHFXWLYR
OLTXLGD]LRQL
LPSRUWRRSHUHROWUH
OLTXLGD]LRQL
OLTXLGD]LRQL
LPSRUWRRSHUHROWUH
LPSRUWRRSHUHILQR
LPSRUWRRSHUHROWUH
HXURHILQR
LPSRUWRRSHUHROWUH
LPSRUWRRSHUHILQR
HXUR
DHXUR
HXURHILQR
DHXUR
HXUR
DHXUR
DHXUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 65 —
Serie generale - n. 301
(1
)&
)(
)*
),
)0
)5
*(
*2
*5
,0
,6
.5
/&
/(
/,
/2
/7
/8
0%
0&
0(
0,
01
02
06
07
1$
12
18
2*
25
3URYLQFLD
3URJHWWR
SUHOLPLQDUHRGL
PDVVLPDLPSRUWR
RSHUHROWUHHXUR
HILQRD
HXUR
3URJHWWR
SUHOLPLQDUHRGL
PDVVLPDLPSRUWR
RSHUHROWUHHXUR
'LUH]LRQHODYRUL
'LUH]LRQHODYRUL
'LUH]LRQHODYRUL
DVVLVWHQ]DDO
3URJHWWRGHILQLWLYR
DVVLVWHQ]DDO
3URJHWWRGHILQLWLYR
3URJHWWRGHILQLWLYR
DVVLVWHQ]DDO
FROODXGR
HRHVHFXWLYR
FROODXGR
HRHVHFXWLYR
HRHVHFXWLYR
FROODXGR
OLTXLGD]LRQL
LPSRUWRRSHUHROWUH
OLTXLGD]LRQL
LPSRUWRRSHUHILQR
LPSRUWRRSHUHROWUH
OLTXLGD]LRQL
LPSRUWRRSHUHROWUH
HXURHILQR
LPSRUWRRSHUHROWUH
DHXUR
HXUR
LPSRUWRRSHUHILQR
HXURHILQR
DHXUR
HXUR
DHXUR
DHXUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 66 —
Serie generale - n. 301
27
3$
3&
3'
3(
3*
3,
31
32
35
37
38
39
3=
5$
5&
5(
5*
5,
50
51
52
6$
6,
62
63
65
66
69
7$
7(
71
3URYLQFLD
3URJHWWR
SUHOLPLQDUHRGL
PDVVLPDLPSRUWR
RSHUHROWUHHXUR
HILQRD
HXUR
3URJHWWR
SUHOLPLQDUHRGL
PDVVLPDLPSRUWR
RSHUHROWUHHXUR
'LUH]LRQHODYRUL
'LUH]LRQHODYRUL
'LUH]LRQHODYRUL
DVVLVWHQ]DDO
3URJHWWRGHILQLWLYR
DVVLVWHQ]DDO
3URJHWWRGHILQLWLYR
3URJHWWRGHILQLWLYR
DVVLVWHQ]DDO
FROODXGR
HRHVHFXWLYR
FROODXGR
HRHVHFXWLYR
HRHVHFXWLYR
FROODXGR
OLTXLGD]LRQL
LPSRUWRRSHUHROWUH
OLTXLGD]LRQL
LPSRUWRRSHUHILQR
LPSRUWRRSHUHROWUH
OLTXLGD]LRQL
LPSRUWRRSHUHROWUH
HXURHILQR
LPSRUWRRSHUHROWUH
DHXUR
HXUR
LPSRUWRRSHUHILQR
HXURHILQR
DHXUR
HXUR
DHXUR
DHXUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 67 —
Serie generale - n. 301
— 68 —
72
73
75
76
79
8'
9$
9%
9&
9(
9,
95
96
97
99
3URYLQFLD
3URJHWWR
SUHOLPLQDUHRGL
PDVVLPDLPSRUWR
RSHUHROWUHHXUR
HILQRD
HXUR
3URJHWWR
SUHOLPLQDUHRGL
PDVVLPDLPSRUWR
RSHUHROWUHHXUR
'LUH]LRQHODYRUL
'LUH]LRQHODYRUL
'LUH]LRQHODYRUL
DVVLVWHQ]DDO
3URJHWWRGHILQLWLYR
DVVLVWHQ]DDO
3URJHWWRGHILQLWLYR
3URJHWWRGHILQLWLYR
DVVLVWHQ]DDO
FROODXGR
HRHVHFXWLYR
FROODXGR
HRHVHFXWLYR
HRHVHFXWLYR
FROODXGR
OLTXLGD]LRQL
LPSRUWRRSHUHROWUH
OLTXLGD]LRQL
LPSRUWRRSHUHILQR
LPSRUWRRSHUHROWUH
OLTXLGD]LRQL
LPSRUWRRSHUHROWUH
HXURHILQR
LPSRUWRRSHUHROWUH
DHXUR
HXUR
LPSRUWRRSHUHILQR
HXURHILQR
DHXUR
HXUR
DHXUR
DHXUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
127$$//$9$5,$%,/(',5(*5(66,21(25('(',&$7(
$//·$77,9,7­
/DYDULDELOH2UHGHGLFDWHDOO·DWWLYLWj qFDOFRODWDFRPH
2UHGHGLFDWH
´)DWWRUHFRUUHWWLYRLQGLYLGXDOHµ
DOO·DWWLYLWj GRYH
SURIHVVLRQLVWD
FKHRSHUDLQ
•
´)DWWRUH FRUUHWWLYR LQGLYLGXDOHµ
IRUPDLQGLYLGXDOH
VHWWLPDQHGLODYRURQHOO·DQQRµ
•
•
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ ´3HVR
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ q SDUL D PLQRU YDORUH WUD H QXPHUR RUH
VHWWLPDQDOLGHGLFDWHDOO·DWWLYLWjGLYLVR
´3HVR VHWWLPDQH GL ODYRUR QHOO·DQQRµ q SDUL D PLQRU YDORUH WUD ´9DORUH PDVVLPR GHOOH
VHWWLPDQHGLODYRURQHOO·DQQRµHQXPHURGLVHWWLPDQHGLODYRURQHOO·DQQRGLYLVR
2UHGHGLFDWH
DOO·DWWLYLWj HVHUFL]LR
FROOHWWLYR
GHOO·DWWLYLWj
SURIHVVLRQDOH
1XPHUR GL VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH ´)DWWRUH FRUUHWWLYR
DVVRFLD]LRQLµ
GRYH
•
•
•
´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ ´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ ´3HVR
VHWWLPDQHGLODYRURQHOO·DQQRµ
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ q SDUL D PLQRU YDORUH WUD H QXPHUR RUH
VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWj GLYLVR QXPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD
VRFLHWjRDVVRFLD]LRQHGLYLVR
´3HVR VHWWLPDQH GL ODYRUR QHOO·DQQRµ q SDUL D PLQRU YDORUH WUD ´9DORUH PDVVLPR GHOOH
VHWWLPDQHGLODYRURQHOO·DQQRµHQXPHURGLVHWWLPDQHGLODYRURQHOO·DQQRGLYLVRQXPHURVRFL
RDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHGLYLVR
,O´9DORUHPDVVLPRGHOOHVHWWLPDQHGLODYRURQHOO·DQQRµRYYHURVHWWLPDQHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDUL
DOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
— 69 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$//(*$72
1 27$ 7 (&1,&$( 0 (72'2/2*,&$ 678',2',6(7725(:.8
678',127$5,/,
— 70 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&5,7(5,3(5/·(92/8=,21('(//2678',2',6(7725(
/
DSSOLFD]LRQHGHOORVWXGLRGLVHWWRUHDWWULEXLVFHDLFRQWULEXHQWLXQ´FRPSHQVRSRWHQ]LDOHµ7DOHFRPSHQVRYLHQH
VWLPDWRWHQHQGRFRQWRVLDGLYDULDELOLFRQWDELOLVLDGLYDULDELOLVWUXWWXUDOLFKHLQIOXHQ]DQRLOULVXOWDWRHFRQRPLFR
GHO VRJJHWWR HVHUFHQWH DWWLYLWj SURIHVVLRQDOH GL VHJXLWR ´SURIHVVLRQLVWDµ DQFKH FRQ ULIHULPHQWR DO FRQWHVWR
WHUULWRULDOH LQ FXL OR VWHVVR RSHUD /
DSSOLFD]LRQH GHOOR VWXGLR FRQVHQWH LQROWUH GL YDOXWDUH OD FRHUHQ]D H OD
QRUPDOLWjHFRQRPLFDGHOSURIHVVLRQLVWDLQUHOD]LRQHDOVHWWRUHHFRQRPLFRGLDSSDUWHQHQ]D
$ WDOH VFRSR QHOO·DPELWR GHOOR VWXGLR YHQJRQR LQGLYLGXDWH OH UHOD]LRQL WUD OH YDULDELOL FRQWDELOL H OH YDULDELOL
VWUXWWXUDOL
/·HYROX]LRQH GHOOR VWXGLR GL VHWWRUH q ILQDOL]]DWD D FRJOLHUH HYHQWXDOL FDPELDPHQWL VWUXWWXUDOL PRGLILFKH GHL
PRGHOOLRUJDQL]]DWLYLHYDULD]LRQLGLPHUFDWRDOO·LQWHUQRGHOVHWWRUHHFRQRPLFRHSUHVXSSRQHXQ·DWWLYLWjGLDQDOLVL
HULFHUFDHFRQRPLFDFKHYLHQHFRQGRWWDDWWLQJHQGRDIRQWLLQIRUPDWLYHSXEEOLFKHHQRQSXEEOLFKH
/HIRQWLSXEEOLFKHVRQRUDSSUHVHQWDWHGDHODERUD]LRQLGLHQWLRVRFLHWjFKHVYROJRQRULFHUFKHGLWLSRHFRQRPLFR
VWDWLVWLFR,VWDW&HQVLVHFFHFKHIRUQLVFRQRGDWLHLQIRUPD]LRQLVXOO·DQGDPHQWRHFRQRPLFRGHLPHUFDWLVXOOD
VWUXWWXUDHODGLPHQVLRQHGHLSULQFLSDOLVHWWRULHFRQRPLFLHVXOODFRQJLXQWXUDHFRQRPLFD
2OWUH DOOH IRQWL GL FDUDWWHUH SXEEOLFR FKH IRUQLVFRQR LQIRUPD]LRQL SL JHQHUDOL YHQJRQR XWLOL]]DWH IRQWL
VSHFLILFKH VHWWRULDOL ULYLVWH VSHFLDOL]]DWH SDUWHFLSD]LRQH D VHPLQDUL H FRQYHJQL VSHFLDOLVWLFL SXEEOLFD]LRQL GHL
SULQFLSDOL LVWLWXWL GL ULFHUFD LQGDJLQL FDPSLRQDULH HFF VL WUDWWD GL IRQWL FKH LOOXVWUDQR O·DUWLFROD]LRQH HG
HYROX]LRQH GHOO·RIIHUWD VLD LQ WHUPLQL GL PRGHOOL RUJDQL]]DWLYL DGRWWDWL FKH GL JDPPD GL VHUYL]L SURIHVVLRQDOL
HURJDWL O·DQGDPHQWR H OD FRPSRVL]LRQH GHOOD GRPDQGD O·LPSDWWR GL SURYYHGLPHQWL QRUPDWLYL VXOO·DWWLYLWj
VXOO·RUJDQL]]D]LRQHHVXOODVWUXWWXUDGHOORVWXGLRSURIHVVLRQDOH
8Q VXSSRUWR SL GLUHWWR H RSHUDWLYR SURYLHQH GD XQD UHWH GL WHFQLFL FRVWLWXLWD GD LVWLWXWL XQLYHUVLWDUL FHQWUL GL
ULFHUFDGRFHQWLHULFHUFDWRULFKHRSHUDDQFKHWUDPLWHO·XWLOL]]RGLSDQHOGLLPSUHVHHSURIHVVLRQLVWL
'LVHJXLWRYHQJRQRHVSRVWLLFULWHULVHJXLWLSHUODFRVWUX]LRQHGHOORVWXGLRGLVHWWRUH:.8HYROX]LRQHGHOOR
VWXGLR9.8
/·DWWLYLWjHFRQRPLFDRJJHWWRGHOORVWXGLRGLVHWWRUH:.8qTXHOODUHODWLYDDOVHJXHQWHFRGLFH$7(&2
•
$WWLYLWjGHJOLVWXGLQRWDULOL
/·HYROX]LRQHGHOORVWXGLRGLVHWWRUHqVWDWDFRQGRWWDDQDOL]]DQGROHLQIRUPD]LRQLFRQWHQXWHQHOPRGHOOR9.8
SHUODFRPXQLFD]LRQHGHLGDWLULOHYDQWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUHSHULOSHULRGRG·LPSRVWD
WUDVPHVVRGDLFRQWULEXHQWLTXDOHDOOHJDWRDOPRGHOOR81,&2
,FRQWULEXHQWLLQWHUHVVDWLVRQRULVXOWDWLSDULD
1HOOD SULPD IDVH GL DQDOLVL SRVL]LRQL VRQR VWDWH VFDUWDWH LQ TXDQWR QRQ XWLOL]]DELOL QHOOH VXFFHVVLYH IDVL
GHOO·HODERUD]LRQH GHOOR VWXGLR GL VHWWRUH FDVL GL FHVVD]LRQH GL DWWLYLWj VLWXD]LRQL GL QRQ QRUPDOH VYROJLPHQWR
GHOO·DWWLYLWjFRQWULEXHQWLIRUIHWDULFRPSHQVLGLFKLDUDWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUHPDJJLRULGL
HXUR
6XL GDWL FRQWHQXWL QHL PRGHOOL VWXGL GL VHWWRUH GHOOD UHVWDQWH SODWHD VRQR VWDWH FRQGRWWH DQDOLVL VWDWLVWLFKH SHU
ULOHYDUHODFRPSOHWH]]DODFRUUHWWH]]DHODFRHUHQ]DGHOOHLQIRUPD]LRQLLQHVVLFRQWHQXWH
7DOL DQDOLVL KDQQR FRPSRUWDWR DL ILQL GHOOD GHILQL]LRQH GHO FDPSLRQH GHOOR VWXGLR OR VFDUWR GL XOWHULRUL SRVL]LRQL,PRWLYLGLVFDUWRVRQRVWDWL
•
•
•
•
•
•
TXDGUR'HOHPHQWLVSHFLILFLGHOO
DWWLYLWjQRQFRPSLODWR
TXDGUR*HOHPHQWLFRQWDELOLQRQFRPSLODWR
FRPXQHGHOTXDGUR%XQLWjORFDOLGHVWLQDWHDOO·DWWLYLWjGLYHQGLWDHRDQDJUDILFRPDQFDQWHRHUUDWR
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLVXLFRPSHQVLHIIHWWLYLGHULYDQWLGDDWWLYLWjDQQRWDWHDUHSHUWRULRUHODWLYH
DOODPRGDOLWjGLHVSOHWDPHQWRGHOO·DWWLYLWjTXDGUR'
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLUHODWLYHDOODWLSRORJLDGHOODFOLHQWHODTXDGUR'
LQFRQJUXHQ]HIUDLGDWLVWUXWWXUDOLHLGDWLFRQWDELOL
$VHJXLWRGHJOLVFDUWLHIIHWWXDWLLOQXPHURGHLPRGHOOLRJJHWWRGHOOHVXFFHVVLYHDQDOLVLqULVXOWDWRSDULD
— 71 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
,'(17,),&$=,21('(,*5833,202*(1(,
'DWH OH FDUDWWHULVWLFKH SHFXOLDUL GHOOR VWXGLR VL q ULWHQXWR RSSRUWXQR QRQ XWLOL]]DUH DOFXQD SURFHGXUD GL
&OXVWHU$QDO\VLV3HUTXHVWRPRWLYRQHO6XE$OOHJDWR$VLULSRUWDODGHVFUL]LRQHHFRQRPLFDGHOO·LQWHURVHWWRUH
'(),1,=,21('(//$)81=,21(',&203(162
/D 5HJUHVVLRQH /LQHDUH 0XOWLSOD q XQD WHFQLFD VWDWLVWLFD FKH SHUPHWWH GL LQWHUSRODUH L GDWL FRQ XQ PRGHOOR
VWDWLVWLFRPDWHPDWLFR FKH GHVFULYH O·DQGDPHQWR GHOOD YDULDELOH GLSHQGHQWH LQ IXQ]LRQH GL XQD VHULH GL YDULDELOL
LQGLSHQGHQWL
/D VWLPD GHOOD ´IXQ]LRQH GL FRPSHQVRµ q VWDWD HIIHWWXDWD LQGLYLGXDQGR OD UHOD]LRQH WUD LO FRPSHQVR YDULDELOH
GLSHQGHQWHHLGDWLFRQWDELOLHVWUXWWXUDOLGHLSURIHVVLRQLVWLYDULDELOLLQGLSHQGHQWL
Ë RSSRUWXQR ULOHYDUH FKH SULPD GL GHILQLUH LO PRGHOOR GL UHJUHVVLRQH q VWDWD HIIHWWXDWD XQ·DQDOLVL VXL GDWL GHL
SURIHVVLRQLVWLSHUYHULILFDUHOHFRQGL]LRQLGLFRHUHQ]DGHLGDWLQHOO·HVHUFL]LRGHOO·DWWLYLWjHSHUVFDUWDUHLVRJJHWWL
DQRPDOL FLz VL q UHVR QHFHVVDULR DO ILQH GL HYLWDUH SRVVLELOL GLVWRUVLRQL QHOOD GHWHUPLQD]LRQH GHOOD ´IXQ]LRQH GL
FRPSHQVRµ
$ WDO ILQH q VWDWR VHOH]LRQDWR LQ EDVH DOOD VXD FDSDFLWj GL LQGLYLGXDUH DQRPDOLH QHOOD UHOD]LRQH WUD OH YRFL
HVDPLQDWHLOVHJXHQWHLQGLFDWRUHGLQDWXUDHFRQRPLFRFRQWDELOH
•
,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQHVXLFRPSHQVL
/DIRUPXODGHOO·LQGLFDWRUHHFRQRPLFRFRQWDELOHqULSRUWDWDQHO6XE$OOHJDWR%
6XFFHVVLYDPHQWHDLILQLGHOODGHWHUPLQD]LRQHGHOFDPSLRQHGLULIHULPHQWRVRQRVWDWLHVFOXVLLSURIHVVLRQLVWLFKH
QRQULVSHWWDYDQROHFRQGL]LRQLGLQRUPDOLWjHFRQRPLFDSHUO·LQGLFDWRUHVRSUDFLWDWR
&RVuGHILQLWRLOFDPSLRQHGLULIHULPHQWRVLqSURFHGXWRDOODGHILQL]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRµ
3HUODGHWHUPLQD]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRµVRQRVWDWHXWLOL]]DWHYDULDELOLFRQWDELOLYDULDELOLVWUXWWXUDOLH
YDULDELOL WHUULWRULDOL /D VFHOWD GHOOH YDULDELOL VLJQLILFDWLYH q VWDWD HIIHWWXDWD FRQ LO PHWRGR ´VWHSZLVHµ 8QD YROWD
VHOH]LRQDWH OH YDULDELOL OD GHWHUPLQD]LRQH GHOOD ´IXQ]LRQH GL FRPSHQVRµ q RWWHQXWD DSSOLFDQGR LO PHWRGR GHL
PLQLPLTXDGUDWLJHQHUDOL]]DWLFKHFRQVHQWHGLFRQWUROODUHO·HYHQWXDOHSUHVHQ]DGLHWHURVFKHGDVWLFLWjFRQQHVVDDOOD
YDULDELOLWjOHJDWDDGDVSHWWLGLPHQVLRQDOL
,QSDUWLFRODUHOHYDULDELOLFRQVLGHUDWHDLILQLGHOODUHJUHVVLRQHVRQRVWDWH
•
•
LO 1XPHUR GHOOH DWWLYLWj VWLPDWH DWWUDYHUVR LO FRQIURQWR GHO FRPSHQVR PHGLR FRQ OD VRJOLD LQIHULRUH GL
ULIHULPHQWR
OH YDULDELOL FRQWDELOL OH YDULDELOL WHUULWRULDOL H OH ´2UH GHGLFDWH DOO·DWWLYLWjµ LQ IXQ]LRQH GHOO·LQFLGHQ]D VXL
FRPSHQVLHIIHWWLYLGLWXWWHOHDOWUHDWWLYLWjQRQULFRPSUHVHDOSXQWRSUHFHGHQWH
/·LQGLFDWRUHYHULILFDODSODXVLELOLWjWUDODYRFH´DOWUHFRPSRQHQWLQHJDWLYHµHGLOWRWDOHGHLFRPSHQVL1HOFDOFRORGHOOHDOWUHFRPSRQHQWL
QHJDWLYHQRQVLWLHQHFRQWRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLLPPRELOLHDEHQLVWUXPHQWDOLPRELOL
9HGL VH]LRQH ´$QDOLVL GHOOD 1RUPDOLWj (FRQRPLFDµ 6L ID SUHVHQWH FKH DL VROL ILQL LQGLFDWL SHU O·LQGLFDWRUH ´,QFLGHQ]D GHOOH DOWUH
FRPSRQHQWL QHJDWLYH DO QHWWR GHL FDQRQL GL ORFD]LRQH VXL FRPSHQVLµ VL ID ULIHULPHQWR DL FRPSHQVL GLFKLDUDWL QHO GHQRPLQDWRUH GHOOD
UHODWLYDIRUPXOD
,O PHWRGR VWHSZLVH XQLVFH GXH WHFQLFKH VWDWLVWLFKH SHU OD VFHOWD GHO PLJOLRU PRGHOOR GL VWLPD OD UHJUHVVLRQH IRUZDUG ´LQ DYDQWLµ H OD
UHJUHVVLRQHEDFNZDUG´LQGLHWURµ/DUHJUHVVLRQHIRUZDUGSUHYHGHGLSDUWLUHGDXQPRGHOORVHQ]DYDULDELOLHGLLQWURGXUUHSDVVRGRSRSDVVR
OD YDULDELOH SL VLJQLILFDWLYD PHQWUH OD UHJUHVVLRQH EDFNZDUG LQL]LD FRQVLGHUDQGR QHO PRGHOOR WXWWH OH YDULDELOL GLVSRQLELOL H ULPXRYHQGR
SDVVRSHUSDVVRTXHOOHQRQVLJQLILFDWLYH&RQLOPHWRGRVWHSZLVHSDUWHQGRGDXQPRGHOORGLUHJUHVVLRQHVHQ]DYDULDELOLVLSURFHGHSHUSDVVL
VXFFHVVLYLDOWHUQDQGRGXHIDVLQHOODSULPDIDVHVLLQWURGXFHODYDULDELOHPDJJLRUPHQWHVLJQLILFDWLYDIUDTXHOOHFRQVLGHUDWHQHOODVHFRQGDVL
ULHVDPLQD O·LQVLHPHGHOOHYDULDELOLLQWURGRWWHSHUYHULILFDUHVHqSRVVLELOH HOLPLQDUQHTXDOFXQDQRQSL VLJQLILFDWLYD,O SURFHVVRFRQWLQXD
ILQR D TXDQGR QRQ q SL SRVVLELOH DSSRUWDUH DOFXQD PRGLILFD DOO·LQVLHPH GHOOH YDULDELOL RYYHUR TXDQGR QHVVXQD YDULDELOH SXz HVVHUH
DJJLXQWDRSSXUHHOLPLQDWD
7DOLDWWLYLWjVRQR&RVWLWX]LRQHPRGLILFDVFLRJOLPHQWRGLVRFLHWjFRPPHUFLDOL&RVWLWX]LRQHPRGLILFDVFLRJOLPHQWRGLDVVRFLD]LRQLH
IRQGD]LRQL 6WHVXUD GL DWWL D IDYRUH GL LPSUHVH H VRFLHWj UHODWLYL DOOD ORUR JHVWLRQH RUGLQDULD 7UDVIHULPHQWL GHOOH SURSULHWj GL EHQL
LPPRELOLHVHUYL]LFRQQHVVL0XWXLHILQDQ]LDPHQWLLSRWHFDULH5HJLVWUD]LRQHHSXEEOLFD]LRQHGLWHVWDPHQWL6LSUHFLVDFKHOHVXGGHWWH
DWWLYLWjLQIDVHGLDSSOLFD]LRQHVRQRLOULVXOWDWRGHOULSURSRU]LRQDPHQWRULVSHWWRDL&RPSHQVLGLFKLDUDWL
3HUPDJJLRUGHWWDJOLRVLYHGDOD1RWDDLFRHIILFLHQWLGHOODIXQ]LRQHGLFRPSHQVRGHO6XE$OOHJDWR*
6LSUHFLVDFKHWDOLDWWLYLWjLQIDVHGLDSSOLFD]LRQHVRQRLOULVXOWDWRGHOULSURSRU]LRQDPHQWRULVSHWWRDL&RPSHQVLGLFKLDUDWL
— 72 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
1HOODGHILQL]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRµVLqWHQXWRFRQWRGHOOHSRVVLELOLGLIIHUHQ]HGLULVXOWDWLHFRQRPLFL
OHJDWHDOOXRJRGLVYROJLPHQWRGHOO·DWWLYLWj
,QSDUWLFRODUHSHUO·LQVLHPHGHOOHDWWLYLWjGLFXLDOSULPRSXQWRVRQRVWDWHFRQVLGHUDWHDQFKHOHGLIIHUHQ]HFKH
SRVVRQR HPHUJHUH D OLYHOOR SURYLQFLDOH QHOOR VYROJLPHQWR GHOO·DWWLYLWj 'L FRQVHJXHQ]D OH VRJOLH LQIHULRUL GL
ULIHULPHQWR XWLOL]]DWH DL ILQL GHOOD VWLPD GHL FRPSHQVL VRQR VWDWH DUWLFRODWH RYH TXHVWR IRVVH ULVXOWDWR
VLJQLILFDWLYR D OLYHOOR SURYLQFLDOH /·LQGLYLGXD]LRQH GL WDOL YDORUL q VWDWD RSHUDWD VFHJOLHQGR TXHOOL FKH SRVVRQR
ULWHQHUVLHFRQRPLFDPHQWHSODXVLELOLFRQULIHULPHQWRDOOHSUDWLFKHRVVHUYDELOLQHOVHWWRUHHQHOWHUULWRULRVSHFLILFR
3HUOHYDULDELOLGLFXLDOVHFRQGRSXQWRLQYHFHVRQRVWDWLXWLOL]]DWLLULVXOWDWLGHOORVWXGLRGHOOD´7HUULWRULDOLWjGHO
OLYHOORGHOUHGGLWRPHGLRLPSRQLELOHDLILQLGHOO·DGGL]LRQDOH,USHIGHILQLWDVXGDWLGHO'LSDUWLPHQWRGHOOH)LQDQ]H
ULIHULWLDLSHULRGLG·LPSRVWDHµ FKHGLIIHUHQ]LDLOWHUULWRULRQD]LRQDOHVXOODEDVHGHOOLYHOORGHOUHGGLWR
SHUSURYLQFLD.
,OOLYHOORGHOUHGGLWRqVWDWRUDSSUHVHQWDWRFRQXQDYDULDELOHVWDQGDUGL]]DWDULVSHWWRDOYDORUHPDVVLPRHGqVWDWD
DQDOL]]DWDODVXDLQWHUD]LRQHFRQODYDULDELOH´2UHGHGLFDWHDOO·DWWLYLWjµ
1HO6XE$OOHJDWR*YHQJRQRULSRUWDWHOHYDULDELOLHGLULVSHWWLYLFRHIILFLHQWLGHOOD´IXQ]LRQHGLFRPSHQVRµ
,O YDORUH PDVVLPR q OR VWHVVR YDORUH XWLOL]]DWR QHOOD SUHFHGHQWH YHUVLRQH GHOOD 7HUULWRULDOLWj GHO UHGGLWR PHGLR LPSRQLELOH DL ILQL
GHOO·DGGL]LRQDOH,53()GHILQLWDVXGDWLULIHULWLDLSHULRGLG·LPSRVWDH,FULWHULHOHFRQFOXVLRQLGHOORVWXGLR´7HUULWRULDOLWjGHO
UHGGLWRPHGLRLPSRQLELOHDLILQLGHOO·DGGL]LRQDOH,53()GHILQLWDVXGDWLGHO'LSDUWLPHQWRGHOOH)LQDQ]HULIHULWLDLSHULRGLG·LPSRVWDH
µDSSOLFDELOHDSDUWLUHGDOSHULRGRGLLPSRVWDVRQRULSRUWDWLQHOO·DSSRVLWR'HFUHWR0LQLVWHULDOH
— 73 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$33/,&$=,21('(//2678',2',6(7725(
,QIDVHGLDSSOLFD]LRQHGHOORVWXGLRGLVHWWRUHVRQRSUHYLVWHOHVHJXHQWLIDVL
$QDOLVLGHOOD&RHUHQ]D
$QDOLVLGHOOD1RUPDOLWj(FRQRPLFD
$QDOLVLGHOOD&RQJUXLWj
•
•
•
$1$/,6,'(//$&2(5(1=$
/·DQDOLVLGHOODFRHUHQ]DSHUPHWWHGLYDOXWDUHLOSURIHVVLRQLVWDVXOODEDVHGLVSHFLILFLLQGLFDWRULHFRQRPLFLFDOFRODWL
FRPHUDSSRUWRWUDGHWHUPLQDWHYDULDELOLFRQWDELOLHRVWUXWWXUDOLFRQWHQXWHQHOPRGHOORSHUODFRPXQLFD]LRQHGHL
GDWLULOHYDQWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUH*OL LQGLFDWRULVRQRVWDWLVHOH]LRQDWLLQEDVHDOODORUR
FDSDFLWjGLPLVXUDUHO·HIILFLHQ]DHODUHGGLWLYLWjGHOO·DWWLYLWjSURIHVVLRQDOH
&RQO·DQDOLVLGHOODFRHUHQ]DSHUFLDVFXQVRJJHWWRVLYDOXWDLOSRVL]LRQDPHQWRGHOYDORUHGLRJQLVLQJRORLQGLFDWRUH
ULVSHWWRDGXQLQWHUYDOORLQGLYLGXDWRFRPHHFRQRPLFDPHQWHFRHUHQWHVXOODEDVHGHLYDORULVRJOLDDPPLVVLELOL
*OLLQGLFDWRULXWLOL]]DWLQHOO·DQDOLVLGHOODFRHUHQ]DVRQRLVHJXHQWL
•
,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVL
•
,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWL
•
0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWR
•
•
5HQGLPHQWR ORUGR SHU DGGHWWR LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R
DVVLPLODWR
5HVDRUDULDSHUDGGHWWR
/HIRUPXOHGHJOLLQGLFDWRULXWLOL]]DWLVRQRULSRUWDWHQHO6XE$OOHJDWR%
$LILQLGHOODLQGLYLGXD]LRQHGHLYDORULVRJOLDFKHGHILQLVFRQRODFRHUHQ]DHFRQRPLFDSHUFLDVFXQRGHJOLLQGLFDWRUL
XWLOL]]DWLVRQRVWDWHHVDPLQDWHSUHOLPLQDUPHQWHDGHFFH]LRQHGHOO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHOFRVWRSHULO
JRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWLµOHUHODWLYHGLVWULEX]LRQLYHQWLOLFKHSHUJOLLQGLFDWRUL´0DUJLQH
GHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWRµH´5HQGLPHQWRORUGR
SHUDGGHWWRLQSUHVHQ]DGLVSHVHSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWRµVXOODEDVHGHOOD´7HUULWRULDOLWj
JHQHUDOHµ D OLYHOOR SURYLQFLDOH SHU O·LQGLFDWRUH ´,QFLGHQ]D GHOOH VSHVH VXL FRPSHQVLµ VXOOD EDVH GHOOD
/·LQGLFDWRUH PLVXUD LO SHVR GHO WRWDOH GHOOH VSHVH VRVWHQXWH GDOOR VWXGLR SURIHVVLRQDOH DO QHWWR GHOOH VSHVH SHU FDQRQL GL ORFD]LRQH
ILQDQ]LDULDHQRQILQDQ]LDULDVXLFRPSHQVLFRPSOHVVLYDPHQWHLQFDVVDWL
/·LQGLFDWRUH PLVXUD LO JUDGR GL FRSHUWXUD GHL SULQFLSDOL FRVWL SHU O·XWLOL]]R GL EHQL VWUXPHQWDOL DOO·DWWLYLWj GHOOR VWXGLR SURIHVVLRQDOH
PHGLDQWH LO ´PDUJLQHµ DO QHWWR GHOOD UHPXQHUD]LRQH ULWHQXWD HFRQRPLFDPHQWH SODXVLELOH GHO WLWRODUH R GHL VRFLDVVRFLDWL GHOOR VWXGLR
SURIHVVLRQDOH
/·LQGLFDWRUH PLVXUD LO FRQWULEXWR GHO WLWRODUH R GHL VRFLDVVRFLDWL GHOOR VWXGLR SURIHVVLRQDOH DOOD FUHD]LRQH GHO ´PDUJLQHµ RYYHUR
UDSSUHVHQWDODFDSDFLWjGLUHPXQHUDUHDOORUGRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLPRELOLHLPPRELOLHGHJOL
DPPRUWDPHQWLODSURSULDDWWLYLWjSURIHVVLRQDOH
7DOH LQGLFDWRUH VL DSSOLFD VROR LQ DVVHQ]D GL ´6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWHµ H ´6SHVH SHU SUHVWD]LRQL GL FROODERUD]LRQH
FRRUGLQDWDHFRQWLQXDWLYDµ
/·LQGLFDWRUHPLVXUDLOYDORUHSURGRWWRGDOORVWXGLRSURIHVVLRQDOHGHVWLQDWRDUHPXQHUDUHROWUHLOWLWRODUHRVRFLDVVRFLDWL DQFKHTXHL
IDWWRUL FKH FRQWULEXLVFRQR D JHQHUDUH YDORUH FRPH LO ODYRUR VRWWR IRUPD GL VWLSHQGL FRQWULEXWL LQGHQQLWj GL ILQH UDSSRUWR HG L EHQL
VWUXPHQWDOLDOO·DWWLYLWjVRWWRIRUPDQHOFDVRGLJRGLPHQWRGLEHQLGLWHU]LGLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQL
LPPRELOLHRDEHQLVWUXPHQWDOLPRELOLHQHOFDVRGLJRGLPHQWRGLEHQLLQSURSULHWjGLDPPRUWDPHQWL
7DOHLQGLFDWRUHVLDSSOLFDVRORLQSUHVHQ]DGL´6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHµHR´6SHVHSHUSUHVWD]LRQLGLFROODERUD]LRQH
FRRUGLQDWDHFRQWLQXDWLYDµ
/·LQGLFDWRUH PLVXUD O·DPPRQWDUH GHL FRPSHQVL SHUFHSLWL GDOOR VWXGLR SURIHVVLRQDOH SHU L VHUYL]L HURJDWL GD FLDVFXQ DGGHWWR QHOO·DUFR
WHPSRUDOHGLXQ·RUD
1HOOD WHUPLQRORJLD VWDWLVWLFD VL GHILQLVFH ´GLVWULEX]LRQH YHQWLOLFDµ O·LQVLHPH GHL YDORUL FKH VXGGLYLGRQR OH RVVHUYD]LRQL RUGLQDWH SHU
YDORULFUHVFHQWLGHOO·LQGLFDWRUHLQJUXSSLGLXJXDOHQXPHURVLWj,OSULPRYHQWLOHqLOYDORUHDOGLVRWWRGHOTXDOHVLSRVL]LRQDLOSULPR
GHOOHRVVHUYD]LRQLLOVHFRQGRYHQWLOHqLOYDORUHDOGLVRWWRGHOTXDOHVLSRVL]LRQDLOSULPRGHOOHRVVHUYD]LRQLHFRVuYLD
,FULWHULHOHFRQFOXVLRQLGHOORVWXGLRVRQRULSRUWDWLQHOO·DSSRVLWR'HFUHWR0LQLVWHULDOH
— 74 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
SUHVHQ]DDVVHQ]DGLIRU]DODYRUR,YDORULGHOOHVRJOLHGHLGLYHUVLLQGLFDWRULVRQRVWDWLLQGLYLGXDWLDGHFFH]LRQH
GHOO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWLµVFHJOLHQGR
TXHOOLFKHSRVVRQRULWHQHUVLHFRQRPLFDPHQWHSODXVLELOLFRQULIHULPHQWRDOOHSUDWLFKHRVVHUYDELOLQHOVHWWRUH3HU
JOLLQGLFDWRUL´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWRµ
H´5HQGLPHQWRORUGRSHUDGGHWWRLQSUHVHQ]DGLVSHVHSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWRµVLqLQROWUH
WHQXWR FRQWR GHOO·DUHD WHUULWRULDOH GL DSSDUWHQHQ]D 3HU O·LQGLFDWRUH ´,QFLGHQ]D GHOOH VSHVH VXL FRPSHQVLµ VL q
LQYHFH WHQXWR FRQWR SULQFLSDOPHQWH GHO GLYHUVR DPPRQWDUH GHOOH VSHVH VRVWHQXWH GDL FRQWULEXHQWL FKH VL
DYYDOJRQRGLGLSHQGHQWLHRFROODERUDWRULULVSHWWRDFRORURFKHQRQVHQHDYYDOJRQR
/HGLVWULEX]LRQLYHQWLOLFKHGHJOLLQGLFDWRULGLFRHUHQ]DHFRQRPLFDYHQJRQRULSRUWDWHQHO6XE$OOHJDWR&
,YDORULVRJOLDGLFRHUHQ]DDPPLVVLELOLVRQRULSRUWDWLQHO6XE$OOHJDWR'
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVLµVHO·LQGLFDWRUHqFDOFRODELOHHVHLO
VXRYDORUHVLSRVL]LRQDDOO·LQWHUQRGHOO·LQWHUYDOORLQGLYLGXDWRFRPHHFRQRPLFDPHQWHFRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWLµ VH LO YDORUH GHOO·LQGLFDWRUH q PDJJLRUH R XJXDOH D 1HO FDVR LQ FXL O·LQGLFDWRUH ULVXOWL QRQ
FDOFRODELOHFRQLO0DUJLQHQHWWRPDJJLRUHGL]HURRO·LQGLFDWRUHULVXOWLLQGHWHUPLQDWRLOVRJJHWWRYLHQHGHILQLWR
FRHUHQWH1HOFDVRLQFXLO·LQGLFDWRUHULVXOWLQRQFDOFRODELOHFRQLO0DUJLQHQHWWRPLQRUHGL]HURLOVRJJHWWRYLHQH
GHILQLWRQRQFRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUJOLLQGLFDWRUL´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGL
ODYRURGLSHQGHQWHRDVVLPLODWRµH´5HQGLPHQWRORUGRSHUDGGHWWRLQSUHVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWRµVHLOYDORUHGHJOLLQGLFDWRULqPDJJLRUHRXJXDOHDOODVRJOLDPLQLPDLQGLYLGXDWD1HOFDVR
LQFXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµULVXOWLSDULD]HURLOVRJJHWWRYLHQHGHILQLWR
FRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´5HVDRUDULDSHUDGGHWWRµVHLOYDORUHGHOO·LQGLFDWRUHqPLQRUHRXJXDOH
DOODVRJOLDPDVVLPDLQGLYLGXDWD1HOFDVRLQFXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµ
ULVXOWLSDULD]HURLOVRJJHWWRYLHQHGHILQLWRFRHUHQWH
,QDSSOLFD]LRQHSHURJQLVLQJRORVRJJHWWRLYDORULVRJOLDGHJOLLQGLFDWRUL´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]D
GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R DVVLPLODWRµ H ´5HQGLPHQWR ORUGR SHU DGGHWWR LQ SUHVHQ]D GL
VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R DVVLPLODWRµ YHQJRQR SRQGHUDWL VXOOD EDVH GHOOD SHUFHQWXDOH GL
DSSDUWHQHQ]DDOOHGLYHUVHDUHHWHUULWRULDOL
$1$/,6,'(//$1250$/,7­(&2120,&$
/·DQDOLVLGHOODQRUPDOLWjHFRQRPLFDqPLUDWDDGLQGLYLGXDUHODFRUUHWWH]]DGHLGDWLGLFKLDUDWL$WDOILQHSHURJQL
VLQJRORVRJJHWWRYHQJRQRFDOFRODWLLQGLFDWRULHFRQRPLFRFRQWDELOLGDFRQIURQWDUHFRQLYDORULGLULIHULPHQWRFKH
LQGLYLGXDQROHFRQGL]LRQLGLQRUPDOLWjHFRQRPLFD
*OL LQGLFDWRUL GL QRUPDOLWj HFRQRPLFD VRQR VWDWL SHUWDQWR VHOH]LRQDWL LQ EDVH DOOD ORUR FDSDFLWj GL LQGLYLGXDUH
DQRPDOLHQHOODUHOD]LRQHWUDOHYRFLHVDPLQDWH
/·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFDLQGLYLGXDWRqLOVHJXHQWH
•
,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQHVXLFRPSHQVL
/DIRUPXODGHOO·LQGLFDWRUHXWLOL]]DWRqULSRUWDWDQHO6XE$OOHJDWR%
$LILQLGHOO·LQGLYLGXD]LRQHGHLYDORULGLULIHULPHQWRSHUO·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFDVRQRVWDWHHVDPLQDWH
SUHOLPLQDUPHQWH OH UHODWLYH GLVWULEX]LRQL YHQWLOLFKH , YDORUL GHOOH VRJOLH GHOO·LQGLFDWRUH VRQR VWDWL LQGLYLGXDWL
/D SUHVHQ]D GL IRU]D ODYRUR q FRQGL]LRQDWD DOOD SUHVHQ]D GL 6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R 6SHVH SHU SUHVWD]LRQL GL
FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD R &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H
DUWLVWLFD
8Q LQGLFDWRUH VL GHILQLVFH QRQ FDOFRODELOH TXDQGR QHO UDSSRUWR QXPHUDWRUH GLYLVR GHQRPLQDWRUH LO GHQRPLQDWRUH q SDUL D ]HUR H LO
QXPHUDWRUHqGLYHUVRGD]HUR
8QLQGLFDWRUHVLGHILQLVFHLQGHWHUPLQDWRTXDQGRQHOUDSSRUWRQXPHUDWRUHGLYLVRGHQRPLQDWRUHLOQXPHUDWRUHHLOGHQRPLQDWRUHVRQR
HQWUDPELSDULD]HUR
*OLLQGLFDWRULVRQRDUURWRQGDWLDOODVHFRQGDFLIUDGHFLPDOH
/·LQGLFDWRUHYHULILFDODSODXVLELOLWjWUDODYRFH´DOWUHFRPSRQHQWLQHJDWLYHµHGLOWRWDOHGHLFRPSHQVL1HOFDOFRORGHOOHDOWUHFRPSRQHQWL
QHJDWLYHQRQVLWLHQHFRQWRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLLPPRELOLHDEHQLVWUXPHQWDOLPRELOL
— 75 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
VFHJOLHQGR TXHOOL FKH SRVVRQR ULWHQHUVL HFRQRPLFDPHQWH SODXVLELOL FRQ ULIHULPHQWR DOOH SUDWLFKH RVVHUYDELOL QHO
VHWWRUH
/HGLVWULEX]LRQLYHQWLOLFKHGHOO·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFDYHQJRQRULSRUWDWHQHO6XE$OOHJDWR(
,YDORULVRJOLDGLQRUPDOLWjHFRQRPLFDVRQRULSRUWDWLQHO6XE$OOHJDWR)
/·LQGLFDWRUH SXz GHWHUPLQDUH PDJJLRUL FRPSHQVL FKH VL VRPPDQR DO FRPSHQVR SXQWXDOH H DO FRPSHQVR
PLQLPRVWLPDWLFRQO·DQDOLVLGHOODFRQJUXLWjVXFFHVVLYDPHQWHGHVFULWWD
,1&,'(1=$ '(//( $/75( &20321(17, 1(*$7,9( $/ 1(772 '(, &$121, ', /2&$=,21(
68,&203(16,
3HU RJQL FRQWULEXHQWH VL GHWHUPLQD LO YDORUH PDVVLPR DPPLVVLELOH SHU OD YDULDELOH ´$OWUH FRPSRQHQWL QHJDWLYH
QHWWHµ PROWLSOLFDQGR OD VRJOLD PDVVLPD GL QRUPDOLWj HFRQRPLFD GHOO·LQGLFDWRUH GLYLVD SHU L ´&RPSHQVL GD
FRQJUXLWjµ
1HOFDVRLQFXLLOYDORUHGLFKLDUDWRGHOOH´$OWUHFRPSRQHQWLQHJDWLYHQHWWHµVLSRVL]LRQLDOGLVRSUDGLGHWWRYDORUH
PDVVLPRDPPLVVLELOHODSDUWHGLVSHVHHFFHGHQWHWDOHYDORUHSRQGHUDWDFRQODSHUFHQWXDOHVXLFRPSHQVLHIIHWWLYL
GHULYDQWLGD´7UDVIHULPHQWLGHOOHSURSULHWjGLEHQLPRELOLUHJLVWUDWLµ´$OWUHSUHVWD]LRQLDQQRWDWHDUHSHUWRULRµH´
3UHVWD]LRQLQRQDQQRWDWHDUHSHUWRULRµFRVWLWXLVFHSDUDPHWURGLULIHULPHQWRSHUODGHWHUPLQD]LRQHGHLPDJJLRUL
FRPSHQVLGDQRUPDOLWjHFRQRPLFDFDOFRODWLPROWLSOLFDQGRWDOHSDUWHHFFHGHQWHSHULOUHODWLYRFRHIILFLHQWH
7DOHFRHIILFLHQWHqVWDWRLQGLYLGXDWRFRPHUDSSRUWRWUDODVRPPDGHLFRPSHQVLSXQWXDOLFDOFRODWLDSSOLFDQGRD
WXWWLLVRJJHWWLODIXQ]LRQHGLFRPSHQVRFRQO·XWLOL]]RGHOOHVROHYDULDELOLFRQWDELOLGLVSHVDHODVRPPDGHOOHVWHVVH
YDULDELOLFRQWDELOLGLVSHVDYHGLWDEHOOD
7DEHOOD&RHIILFLHQWHGLGHWHUPLQD]LRQHGHLPDJJLRULFRPSHQVLGDDSSOLFDUVLDOOHDOWUHFRPSRQHQWL
QHJDWLYHQHWWH
&RHIILFLHQWH
7XWWDODSRSROD]LRQH
$1$/,6,'(//$&21*58,7­
3HU FLDVFXQ FRQWULEXHQWH YLHQH FDOFRODWR LO ´FRPSHQVR SXQWXDOHµ FRPH VRPPD GHL SURGRWWL IUD OH YDULDELOL
LQGLYLGXDWHDLILQLGHOODGHILQL]LRQHGHOODIXQ]LRQHGLFRPSHQVRHGLUHODWLYLFRHIILFLHQWL
3HUWHQHUFRQWRGHOODYDULDELOLWjOHJDWDDOODVWLPDGHOFRPSHQVRSXQWXDOHGHOVLQJRORFRQWULEXHQWHYLHQHFDOFRODWR
O·LQWHUYDOOR GL FRQILGHQ]D DOOLYHOOR GHO ,O OLPLWHLQIHULRUH GL WDOH LQWHUYDOOR GL FRQILGHQ]D FRVWLWXLVFH LO
´FRPSHQVRPLQLPRµ
/HYDULDELOLQXPHULFKHULIHULWHDGLPSRUWLLQHXURVRQRDUURWRQGDWHDOYDORUHLQWHUR
&RPSHQVRSXQWXDOHGDDQDOLVLGHOODFRQJUXLWj
&RPSHQVLGDFRQJUXLWj
/HYDULDELOLFRQWDELOLGLVSHVDVRQRSRQGHUDWHVHFRQGRTXDQWRGHWWDJOLDWRQHO6XE$OOHJDWR*
1HOODWHUPLQRORJLDVWDWLVWLFDSHU´LQWHUYDOORGLFRQILGHQ]DµVLLQWHQGHXQLQWHUYDOORFHQWUDWRVXOFRPSHQVRSXQWXDOH yˆ HGHOLPLWDWRGD
GXH HVWUHPL XQR LQIHULRUH H O·DOWUR VXSHULRUH FKH LQFOXGH FRQ XQ OLYHOOR GL SUREDELOLWj SUHILVVDWR LO YDORUH DWWHVR GHO FRPSHQVR GHO
FRQWULEXHQWH
,O OLYHOOR GL SUREDELOLWj SUHILVVDWR R OLYHOOR GL ILGXFLD YLHQH JHQHUDOPHQWH LQGLFDWR FRQ OD QRWD]LRQH ´ ơµ GRYH ơ UDSSUHVHQWD OD
SUREDELOLWj FKH O·LQWHUYDOOR GL FRQILGHQ]D QRQ FRQWHQJD LO YDORUH DWWHVR GHO FRPSHQVR GHO FRQWULEXHQWH 3HU XQ OLYHOOR GL ILGXFLD SDUL DO
LOYDORUHFRUULVSRQGHQWHGLơqSDULD
,QGLFDQGRFRQ yˆ LO´FRPSHQVRSXQWXDOHµGHOJHQHULFRFRQWULEXHQWHLOFRUULVSRQGHQWH´FRPSHQVRPLQLPRµqRWWHQXWRDWWUDYHUVROD
VHJXHQWHIRUPXOD yˆ - 3,92 * s
x 'C x GRYH
• C q OD PDWULFH LQYHUVD GHOOD PDWULFH GDWD GDOOH VRPPH GHL TXDGUDWL H GHL SURGRWWL LQFURFLDWL GHOOH YDULDELOL LQGLSHQGHQWL
RSSRUWXQDPHQWHSHVDWHSHUFRQWUROODUHO·HYHQWXDOHSUHVHQ]DGLHWHURVFKHGDVWLFLWj
• s qODUDGLFHTXDGUDWDGHO0HDQ6TXDUH(UURU506(
• x qLOYHWWRUHGHOOHYDULDELOLLQGLSHQGHQWLRVVHUYDWHSHULOJHQHULFRFRQWULEXHQWH
— 76 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$OFRPSHQVRSXQWXDOHHDOFRPSHQVRPLQLPRVWLPDWLFRQO·DQDOLVLGHOODFRQJUXLWjYHQJRQRDJJLXQWLJOLHYHQWXDOL
PDJJLRULFRPSHQVLGHULYDQWLGDOO·DSSOLFD]LRQHGHOO·DQDOLVLGHOODQRUPDOLWjHFRQRPLFD
1HO6XE$OOHJDWR*YHQJRQRULSRUWDWHOHYDULDELOLHGLULVSHWWLYLFRHIILFLHQWLGHOOD´IXQ]LRQHGLFRPSHQVRµ
• qLOYDORUHGLULIHULPHQWRDOOLYHOORGLSUREDELOLWjSUHVFHOWRGHOODGLVWULEX]LRQHWGL6WXGHQWFKHDVLQWRWLFDPHQWHDSSURVVLPDXQD
GLVWULEX]LRQHQRUPDOHVWDQGDUGL]]DWD
,YDORULUHODWLYLDOODPDWULFH´ C µHDOYDORUHGHO´506(µYHQJRQRULSRUWDWLQHOO·$OOHJDWR
/HYDULDELOLQXPHULFKHULIHULWHDGLPSRUWLLQHXURVRQRDUURWRQGDWHDOYDORUHLQWHUR
— 77 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$7,
68%$//(*$72$²'(6&5,=,21((&2120,&$'(/6(7725(
6DOYRVHJQDOD]LRQHFRQWUDULDO·LQGLFD]LRQHGLYDORULQXPHULFLVRWWRULSRUWDWLULJXDUGDYDORULPHGL
,SURIHVVLRQLVWLDSSDUWHQHQWLDOORVWXGLRLQRJJHWWRVLDYYDOJRQRSHUORVYROJLPHQWRGHOO·DWWLYLWjQHOGHLFDVL
GLGLSHQGHQWLLQSDUWLFRODUHVLSXzRVVHUYDUHFKHLOGHLVRJJHWWLGLFKLDUDGLDYHUHILQRDGLSHQGHQWLLO
GLFKLDUDGLDYHUHGDDGLSHQGHQWLHGLOGHLVRJJHWWLGLFKLDUDGLDYHUHSLGLGLSHQGHQWL6LVHJQDOD
FKHLOGHLVRJJHWWLULFRUUHDFROODERUDWRULFRRUGLQDWLHFRQWLQXDWLYL
5HODWLYDPHQWH DOOD IRUPD JLXULGLFD VL RVVHUYD FKH LO GHJOL VWXGL QRWDULOL ULHQWUDQWL QHOOR VWXGLR GL VHWWRUH q
FRVWLWXLWRLQIRUPDGLDVVRFLD]LRQHWUDDUWLVWLHSURIHVVLRQLVWL
/DVXSHUILFLHGHOORVWXGLRULVXOWDGLPTFRPSLODWRGDOGHLVRJJHWWLLQROWUHLOGHLVRJJHWWLGLFKLDUD
GLGLVSRUUHGLPTGHVWLQDWLDELEOLRWHFKHVDOHULXQLRQL3LLQGHWWDJOLRVLULOHYDFKHLOGHLFRQWULEXHQWL
XWLOL]]DVRORXQDXQLWjORFDOHPHQWUHLOSLGLXQD
5HODWLYDPHQWHDOOHPRGDOLWjGLHVSOHWDPHQWRGHOO·DWWLYLWjULVXOWDTXDQWRVHJXH
−
LWUDVIHULPHQWLGHOOHSURSULHWjGLEHQLLPPRELOLHVHUYL]LFRQQHVVLFRPSLODWRGDOGHLVRJJHWWLDSSRUWDQR
LOGHLFRPSHQVL,OQXPHURGLSUHVWD]LRQLqSDULD
−
LPXWXLHILQDQ]LDPHQWLLSRWHFDULFRPSLODWRGDOGHLVRJJHWWLDSSRUWDQRLOGHLFRPSHQVL,OQXPHUR
GLSUHVWD]LRQLqSDULD
−
OD FRVWLWX]LRQH PRGLILFD VFLRJOLPHQWR GL VRFLHWj FRPPHUFLDOL FRPSLODWR GDO GHL VRJJHWWL DSSRUWD LO
GHLFRPSHQVL,OQXPHURGLSUHVWD]LRQLqSDULD
−
ODUHJLVWUD]LRQHHSXEEOLFD]LRQHGLWHVWDPHQWLFRPSLODWRGDOGHLVRJJHWWLDSSRUWDLOGHLFRPSHQVL,O
QXPHURGLSUHVWD]LRQLqSDULD
−
OD VWHVXUD GL DWWL D IDYRUH GL LPSUHVH H VRFLHWj UHODWLYL DOOD ORUR JHVWLRQH RUGLQDULD FRPSLODWR GDOO· GHL
VRJJHWWLDSSRUWDLOGHLFRPSHQVL,OQXPHURGLSUHVWD]LRQLqSDULD
−
LWUDVIHULPHQWLGHOOHSURSULHWjGLEHQLPRELOLUHJLVWUDWLFRPSLODWRGDOGHLVRJJHWWLDSSRUWDQRLOGHL
FRPSHQVL,OQXPHURGLSUHVWD]LRQLqSDULD
−
ODFRVWLWX]LRQHPRGLILFDVFLRJOLPHQWRGLDVVRFLD]LRQLHIRQGD]LRQLFRPSLODWRGDOGHLVRJJHWWLDSSRUWD
LOGHLFRPSHQVL,OQXPHURGLSUHVWD]LRQLqSDULD
/HSUHVWD]LRQLQRQDQQRWDWHDUHSHUWRULRFRPSLODWHGDOO·GHLVRJJHWWLDSSRUWDQRO·GHLORURFRPSHQVL
3HU TXDQWR ULJXDUGD OD WLSRORJLD GHOOD FOLHQWHOD LO GHL FRPSHQVL GHULYD GD SHUVRQH ILVLFKH GLYHUVH GD
LPSUHQGLWRUL LQGLYLGXDOL HG HVHUFHQWL DUWL H SURIHVVLRQL FRPSLODWR GDO GHL VRJJHWWL LO GD VRFLHWj GL
FDSLWDOLFRPSLODWRGDOGHLVRJJHWWLLOGDVRFLHWjGLSHUVRQHHGDVVRFLD]LRQLWUDDUWLVWLHSURIHVVLRQLVWL
FRPSLODWRGDOGHLVRJJHWWLHGLOGDLPSUHQGLWRULLQGLYLGXDOLHGHVHUFHQWLDUWLHSURIHVVLRQLFRPSLODWRGDO
GHLVRJJHWWL
— 78 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72%²)2508/('(*/,,1',&$725,
'L VHJXLWR VRQR ULSRUWDWH OH IRUPXOH GHJOL LQGLFDWRUL HFRQRPLFRFRQWDELOL XWLOL]]DWL LQ FRVWUX]LRQH HR
DSSOLFD]LRQHGHOORVWXGLRGLVHWWRUH
•
•
•
•
•
•
,QFLGHQ]D GHOOH DOWUH FRPSRQHQWL QHJDWLYH DO QHWWR GHL FDQRQL GL ORFD]LRQH VXL FRPSHQVL $OWUH
FRPSRQHQWLQHJDWLYHQHWWH&RPSHQVLGLFKLDUDWL
,QFLGHQ]D GHOOH VSHVH VXL FRPSHQVL 6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH 6SHVH SHU
SUHVWD]LRQL GL FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL
GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H DUWLVWLFD &RQVXPL $OWUH VSHVH $OWUH FRPSRQHQWL
QHJDWLYHQHWWH&RPSHQVLGLFKLDUDWL
,QGLFH GL FRSHUWXUD GHO FRVWR SHU LO JRGLPHQWR GL EHQL GL WHU]L H GHJOL DPPRUWDPHQWL 0DUJLQH
QHWWR&DQRQL GL ORFD]LRQH ILQDQ]LDULD H QRQ ILQDQ]LDULD UHODWLYL D EHQL LPPRELOL &DQRQL GL ORFD]LRQH
ILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLVWUXPHQWDOLPRELOL$PPRUWDPHQWL
0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWR 0DUJLQH3URIHVVLRQLVWLWLWRODULGHOORVWXGLR
5HQGLPHQWR ORUGR SHU DGGHWWR LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R
DVVLPLODWR 9DORUHFUHDWRGDOORVWXGLRSURIHVVLRQDOH$GGHWWL
5HVD RUDULDSHU DGGHWWR &RPSHQVL GLFKLDUDWL ²6SHVH SHU SUHVWD]LRQL GL FROODERUD]LRQH FRRUGLQDWD H
FRQWLQXDWLYD ² &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H
DUWLVWLFD1XPHURDGGHWWL
1HOODVRODIDVHGLFRVWUX]LRQHL&RPSHQVLGLFKLDUDWLLQFOXGRQRDQFKHO·$GHJXDPHQWRGDVWXGLGLVHWWRUH
,QIDVHGLDSSOLFD]LRQHGHOO·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFD´,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQH
VXLFRPSHQVLµYHQJRQRXWLOL]]DWLL
&RPSHQVLGDFRQJUXLWj &RPSHQVRSXQWXDOHGDDQDOLVLGHOODFRQJUXLWj
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHLSURIHVVLRQLVWLWLWRODULGHOORVWXGLR
3URIHVVLRQLVWLWLWRODULGHOORVWXGLR 7LWRODUH
SURIHVVLRQLVWDFKHRSHUDLQIRUPD
LQGLYLGXDOH
3URIHVVLRQLVWLWLWRODULGHOORVWXGLR 1XPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQH
HVHUFL]LRFROOHWWLYRGHOO·DWWLYLWj
SURIHVVLRQDOH
,OWLWRODUHqSDULD
,OQXPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHqSDULDOODUHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
,OWLWRODUHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
6HLSURIHVVLRQLVWLWLWRODULGHOORVWXGLRVRQRLQIHULRUL D´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVRDOORUDL
SURIHVVLRQLVWLWLWRODULGHOORVWXGLRVRQRSDULDOYDORUHPDVVLPRWUDSURIHVVLRQLVWLWLWRODULGHOORVWXGLRH7LWRODUH²1XPHURGLSHQGHQWL
,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHJOLDGGHWWL
7LWRODUH1XPHURGLSHQGHQWL
$GGHWWL SURIHVVLRQLVWDFKHRSHUDLQIRUPD
LQGLYLGXDOH
1XPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH 1XPHUR
$GGHWWL GLSHQGHQWL
HVHUFL]LRFROOHWWLYRGHOO·DWWLYLWj
SURIHVVLRQDOH
,OWLWRODUHqSDULD,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
,OQXPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHqSDULDOODUHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
,OWLWRODUHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
*OL$GGHWWLQRQSRVVRQRHVVHUHLQIHULRULD´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVR
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHOQXPHURGLDGGHWWL
1XPHURDGGHWWL ´)DWWRUHFRUUHWWLYRLQGLYLGXDOHµ1XPHURGLSHQGHQWL
SURIHVVLRQLVWDFKH
RSHUDLQIRUPD
LQGLYLGXDOH
— 79 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
'RYH
• $OWUHFRPSRQHQWLQHJDWLYHQHWWH $OWUHFRPSRQHQWLQHJDWLYH²&DQRQLGLORFD]LRQHILQDQ]LDULDHQRQ
ILQDQ]LDULD UHODWLYL D EHQL LPPRELOL ² &DQRQL GL ORFD]LRQH ILQDQ]LDULD H QRQ ILQDQ]LDULD UHODWLYL D EHQL
VWUXPHQWDOLPRELOL;
• 0DUJLQH 9DORUHFUHDWRGDOORVWXGLRSURIHVVLRQDOH²6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH
• 0DUJLQH QHWWR 0DUJLQH ² >6RJOLD PLQLPD GL FRHUHQ]D GHO PDUJLQH GHO SURIHVVLRQLVWD 3URIHVVLRQLVWLWLWRODULGHOORVWXGLR@
• 9DORUH FUHDWR GDOOR VWXGLR SURIHVVLRQDOH &RPSHQVL GLFKLDUDWL ² 6SHVH SHU SUHVWD]LRQL GL
FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD ² &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH
DIIHUHQWLO·DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD²&RQVXPL²$OWUHVSHVH²$OWUHFRPSRQHQWLQHJDWLYHQHWWH
1XPHURDGGHWWL 1XPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH ´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ HVHUFL]LRFROOHWWLYR 1XPHURGLSHQGHQWL
GHOO·DWWLYLWj
SURIHVVLRQDOH
/D GHILQL]LRQH GHO ´)DWWRUH FRUUHWWLYR LQGLYLGXDOHµ H GHO ´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ q ULSRUWDWD QHOOD ´1RWD DOOD YDULDELOH GL
UHJUHVVLRQH2UHGHGLFDWHDOO·DWWLYLWjµ,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
/DVRJOLDPLQLPDGLFRHUHQ]DGHOPDUJLQHGHOSURIHVVLRQLVWDqODVRJOLDPLQLPDGHOO·LQGLFDWRUH´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGL
VSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWRµDSSOLFDWDDOO·LQWHUDSODWHDGHLFRQWULEXHQWL
— 80 —
0RGDOLWjGL
GLVWULEX]LRQH
— 81 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
0RGDOLWjGL
GLVWULEX]LRQH
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL *UXSSR
VSHVHSHUSUHVWD]LRQLGL WHUULWRULDOH
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
*UXSSR
WHUULWRULDOH
0DUJLQHGHO
*UXSSR
SURIHVVLRQLVWDLQ
WHUULWRULDOH
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWR
LQPLJOLDLDGLHXUR
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
68%$//(*$72&²',675,%8=,21,9(17,/,&+(,1',&$725,',&2(5(1=$
30-12-2014
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72'9$/25,62*/,$3(5*/,,1',&$725,',&2(5(1=$
0RGDOLWjGL 5HVDRUDULDSHUDGGHWWR
GLVWULEX]LRQH
6RJOLDPDVVLPD
7XWWLLVRJJHWWL
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
6RJOLDPLQLPD
6RJOLDPLQLPD
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
0RGDOLWjGLGLVWULEX]LRQH
,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVL
6RJOLDPLQLPD
6RJOLDPDVVLPD
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
— 82 —
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
68%$//(*$72(²',675,%8=,21,9(17,/,&+(,1',&$725,',1250$/,7­(&2120,&$
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 83 —
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72)9$/25,62*/,$3(5*/,,1',&$725,',1250$/,7­(&2120,&$
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
0RGDOLWjGL
QHWWRGHLFDQRQLGL
GLVWULEX]LRQH ORFD]LRQHVXLFRPSHQVL
6RJOLDPDVVLPD
7XWWLLVRJJHWWL
— 84 —
&2()),&,(17,
/H YDULDELOL 6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH 6SHVH SHU SUHVWD]LRQL GL FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH
DIIHUHQWLO
DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD&RQVXPL$OWUHVSHVHH2UHGHGLFDWHDOO
DWWLYLWjVRQRSRQGHUDWHSHUODSHUFHQWXDOHVXLFRPSHQVLHIIHWWLYLGL7UDVIHULPHQWLGHOOHSURSULHWjGL
EHQLPRELOLUHJLVWUDWL$OWUHSUHVWD]LRQLDQQRWDWHDUHSHUWRULR3UHVWD]LRQLQRQDQQRWDWHDUHSHUWRULRGLYLVR
,OFRPSHQVRSXQWXDOHHLOFRPSHQVRPLQLPRVHQHJDWLYLVRQRSRVWLXJXDOLD]HUR
3HULOGHWWDJOLRYHGL´1RWDDOODYDULDELOHGLUHJUHVVLRQH2UHGHGLFDWHDOO·DWWLYLWjµ
3HULOGHWWDJOLRYHGL1RWDDLFRHIILFLHQWLGHOODIXQ]LRQHGLFRPSHQVR
9DULDELOLFRQWDELOLHVSUHVVHLQHXUR
,OGLIIHUHQ]LDOHWHUULWRULDOHULIHULWRDGXQDYDULDELOHGHOODIXQ]LRQHGLFRPSHQVRqFDOFRODWRPROWLSOLFDQGRODYDULDELOHVWHVVDSHULOYDORUHGHOO·LQGLFDWRUHUHODWLYRDOODWHUULWRULDOLWjXWLOL]]DWD
WDOHGLIIHUHQ]LDOHqDUURWRQGDWRDOODTXDUWDFLIUDGHFLPDOH
'RYH
9$5,$%,/(
&RQVXPL$OWUHVSHVH
6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH6SHVHSHUSUHVWD]LRQLGLFROODERUD]LRQHFRRUGLQDWDHFRQWLQXDWLYD&RPSHQVLFRUULVSRVWLDWHU]LSHUSUHVWD]LRQL
GLUHWWDPHQWHDIIHUHQWLO
DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD
2UHGHGLFDWHDOO·DWWLYLWjGLIIHUHQ]LDOHUHODWLYRDOODWHUULWRULDOLWjGHOOLYHOORGHOUHGGLWRVXEDVHSURYLQFLDOH
1XPHURULIHULWRD&RVWLWX]LRQHPRGLILFDVFLRJOLPHQWRGLVRFLHWjFRPPHUFLDOLSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLR
1XPHURULIHULWRD&RVWLWX]LRQHPRGLILFDVFLRJOLPHQWRGLDVVRFLD]LRQLHIRQGD]LRQLSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLR
1XPHURULIHULWRD6WHVXUDGLDWWLDIDYRUHGLLPSUHVHHVRFLHWjUHODWLYLDOODORURJHVWLRQHRUGLQDULDSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLR
1XPHURULIHULWRD7UDVIHULPHQWLGHOOHSURSULHWjGLEHQLLPPRELOLHVHUYL]LFRQQHVVLSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLR
1XPHURULIHULWRD0XWXLHILQDQ]LDPHQWLLSRWHFDULSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLR
1XPHURULIHULWRD5HJLVWUD]LRQHHSXEEOLFD]LRQHGLWHVWDPHQWLSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLR
68%$//(*$72*&2()),&,(17,'(//$)81=,21(',&203(162
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 85 —
Serie generale - n. 301
127$$,&2()),&,(17,'(//$)81=,21(',&203(162
3HURJQL0RGDOLWjGLHVSOHWDPHQWRGHOO·DWWLYLWjLOFRPSHQVRPHGLRULFKLDPDWRQHLGHWWDJOLDVHJXLUHqFDOFRODWRFRPH&RPSHQVLGLFKLDUDWLSHUFHQWXDOHVXLFRPSHQVLHIIHWWLYLGLYLVR
GLYLVR1XPHURGHL&RPSHQVLHIIHWWLYLULIHULWRDOO·DWWLYLWj6LSUHFLVDFKHWXWWHOHYDULDELOLDVHJXLUHDVVXPRQRYDORUHSDULD]HURLQFDVRGL&RPSHQVLGLFKLDUDWLSDULD]HURHFKHSHULO
GHWWDJOLRGHOOHVRJOLHLQIHULRULSURYLQFLDOLGLULIHULPHQWRVLULPDQGDDOODWDEHOOD´9DORULVRJOLDLQIHULRUHDOLYHOORSURYLQFLDOHGHOOD0RGDOLWjGLHVSOHWDPHQWRGHOO·DWWLYLWjµ
/DYDULDELOH1XPHURULIHULWRD&RVWLWX]LRQHPRGLILFDVFLRJOLPHQWRGLVRFLHWjFRPPHUFLDOLSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHURGHL&RPSHQVLHIIHWWLYLULIHULWRD&RVWLWX]LRQHPRGLILFDVFLRJOLPHQWRGLVRFLHWjFRPPHUFLDOLPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD&RVWLWX]LRQHPRGLILFDVFLRJOLPHQWRGLVRFLHWjFRPPHUFLDOLHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWRGLYLVR
/DYDULDELOH1XPHURULIHULWRD&RVWLWX]LRQHPRGLILFDVFLRJOLPHQWRGLDVVRFLD]LRQLHIRQGD]LRQLSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHURGHL&RPSHQVLHIIHWWLYLULIHULWRD&RVWLWX]LRQHPRGLILFDVFLRJOLPHQWRGLDVVRFLD]LRQLHIRQGD]LRQLPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD&RVWLWX]LRQHPRGLILFDVFLRJOLPHQWRGLDVVRFLD]LRQLHIRQGD]LRQLHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWRGLYLVR
/DYDULDELOH1XPHURULIHULWRD6WHVXUDGLDWWLDIDYRUHGLLPSUHVHHVRFLHWjUHODWLYLDOODORURJHVWLRQHRUGLQDULDSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHURGHL&RPSHQVLHIIHWWLYLULIHULWRD6WHVXUDGLDWWLDIDYRUHGLLPSUHVHHVRFLHWjUHODWLYLDOODORURJHVWLRQHRUGLQDULDPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD6WHVXUDGLDWWLDIDYRUHGLLPSUHVHHVRFLHWjUHODWLYLDOODORURJHVWLRQHRUGLQDULDHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWR
GLYLVR
/DYDULDELOH1XPHURULIHULWRD7UDVIHULPHQWLGHOOHSURSULHWjGLEHQLLPPRELOLHVHUYL]LFRQQHVVLSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHURGHL&RPSHQVLHIIHWWLYLULIHULWRD7UDVIHULPHQWLGHOOHSURSULHWjGLEHQLLPPRELOLHVHUYL]LFRQQHVVLPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD7UDVIHULPHQWLGHOOHSURSULHWjGLEHQLLPPRELOLHVHUYL]LFRQQHVVLHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWRGLYLVR
/DYDULDELOH1XPHURULIHULWRD0XWXLHILQDQ]LDPHQWLLSRWHFDULSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHURGHL&RPSHQVLHIIHWWLYLULIHULWRD0XWXLHILQDQ]LDPHQWLLSRWHFDULPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD0XWXLHILQDQ]LDPHQWLLSRWHFDULHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWRGLYLVR
/DYDULDELOH1XPHURULIHULWRD5HJLVWUD]LRQHHSXEEOLFD]LRQHGLWHVWDPHQWLSRQGHUDWRFRQLOUHODWLYRFRPSHQVRPHGLRqFDOFRODWDFRPH
1XPHURGHL&RPSHQVLHIIHWWLYLULIHULWRD5HJLVWUD]LRQHHSXEEOLFD]LRQHGLWHVWDPHQWLPROWLSOLFDWRSHUSHVRGLSRQGHUD]LRQH
GRYHSHVRGLSRQGHUD]LRQH PDVVLPRWUDLOFRPSHQVRPHGLRULIHULWRD5HJLVWUD]LRQHHSXEEOLFD]LRQHGLWHVWDPHQWLHODVRJOLDLQIHULRUHSURYLQFLDOHGLULIHULPHQWRGLYLVR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 86 —
Serie generale - n. 301
3URYLQFLD
$*
$/
$1
$2
$3
$4
$5
$7
$9
%$
%*
%,
%/
%1
%2
%5
%6
%7
%=
&$
&%
&(
&+
&,
&/
&1
&2
&5
&6
&7
&=
(1
)&
&RVWLWX]LRQHPRGLILFD &RVWLWX]LRQHPRGLILFD
VFLRJOLPHQWRGLVRFLHWj VFLRJOLPHQWRGLDVVRFLD]LRQLH
FRPPHUFLDOL
IRQGD]LRQL
6WHVXUDGLDWWLDIDYRUHGLLPSUHVHH
VRFLHWjUHODWLYLDOODORURJHVWLRQH
RUGLQDULD
7UDVIHULPHQWLGHOOHSURSULHWjGL 0XWXLH
5HJLVWUD]LRQHH
EHQLLPPRELOLHVHUYL]L
ILQDQ]LDPHQWL SXEEOLFD]LRQHGL
FRQQHVVL
LSRWHFDUL
WHVWDPHQWL
9$/25,62*/,$,1)(5,25($/,9(//23529,1&,$/('(//$02'$/,7­',(63/(7$0(172'(//·$77,9,7­
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 87 —
Serie generale - n. 301
3URYLQFLD
)(
)*
),
)0
)5
*(
*2
*5
,0
,6
.5
/&
/(
/,
/2
/7
/8
0%
0&
0(
0,
01
02
06
07
1$
12
18
2*
25
27
3$
3&
3'
3(
&RVWLWX]LRQHPRGLILFD &RVWLWX]LRQHPRGLILFD
VFLRJOLPHQWRGLVRFLHWj VFLRJOLPHQWRGLDVVRFLD]LRQLH
FRPPHUFLDOL
IRQGD]LRQL
6WHVXUDGLDWWLDIDYRUHGLLPSUHVHH
VRFLHWjUHODWLYLDOODORURJHVWLRQH
RUGLQDULD
7UDVIHULPHQWLGHOOHSURSULHWjGL 0XWXLH
5HJLVWUD]LRQHH
EHQLLPPRELOLHVHUYL]L
ILQDQ]LDPHQWL SXEEOLFD]LRQHGL
FRQQHVVL
LSRWHFDUL
WHVWDPHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 88 —
Serie generale - n. 301
3URYLQFLD
3*
3,
31
32
35
37
38
39
3=
5$
5&
5(
5*
5,
50
51
52
6$
6,
62
63
65
66
69
7$
7(
71
72
73
75
76
79
8'
9$
9%
&RVWLWX]LRQHPRGLILFD &RVWLWX]LRQHPRGLILFD
VFLRJOLPHQWRGLVRFLHWj VFLRJOLPHQWRGLDVVRFLD]LRQLH
FRPPHUFLDOL
IRQGD]LRQL
6WHVXUDGLDWWLDIDYRUHGLLPSUHVHH
VRFLHWjUHODWLYLDOODORURJHVWLRQH
RUGLQDULD
7UDVIHULPHQWLGHOOHSURSULHWjGL 0XWXLH
5HJLVWUD]LRQHH
EHQLLPPRELOLHVHUYL]L
ILQDQ]LDPHQWL SXEEOLFD]LRQHGL
FRQQHVVL
LSRWHFDUL
WHVWDPHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 89 —
Serie generale - n. 301
3URYLQFLD
9&
9(
9,
95
96
97
99
&RVWLWX]LRQHPRGLILFD &RVWLWX]LRQHPRGLILFD
VFLRJOLPHQWRGLVRFLHWj VFLRJOLPHQWRGLDVVRFLD]LRQLH
FRPPHUFLDOL
IRQGD]LRQL
6WHVXUDGLDWWLDIDYRUHGLLPSUHVHH
VRFLHWjUHODWLYLDOODORURJHVWLRQH
RUGLQDULD
7UDVIHULPHQWLGHOOHSURSULHWjGL 0XWXLH
5HJLVWUD]LRQHH
EHQLLPPRELOLHVHUYL]L
ILQDQ]LDPHQWL SXEEOLFD]LRQHGL
FRQQHVVL
LSRWHFDUL
WHVWDPHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 90 —
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
127$$//$9$5,$%,/(',5(*5(66,21(25('(',&$7(
$//·$77,9,7­
/DYDULDELOH2UHGHGLFDWHDOO·DWWLYLWj qFDOFRODWDFRPH
2UHGHGLFDWH
´)DWWRUHFRUUHWWLYRLQGLYLGXDOHµ
DOO·DWWLYLWj GRYH
SURIHVVLRQLVWD
FKHRSHUDLQ
•
´)DWWRUH FRUUHWWLYR LQGLYLGXDOHµ
IRUPDLQGLYLGXDOH
VHWWLPDQHGLODYRURQHOO·DQQRµ
•
•
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ ´3HVR
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ q SDUL D PLQRU YDORUH WUD H QXPHUR RUH
VHWWLPDQDOLGHGLFDWHDOO·DWWLYLWjGLYLVR
´3HVR VHWWLPDQH GL ODYRUR QHOO·DQQRµ q SDUL D PLQRU YDORUH WUD ´9DORUH PDVVLPR GHOOH
VHWWLPDQHGLODYRURQHOO·DQQRµHQXPHURGLVHWWLPDQHGLODYRURQHOO·DQQRGLYLVR
2UHGHGLFDWH
DOO·DWWLYLWj HVHUFL]LR
FROOHWWLYR
GHOO·DWWLYLWj
SURIHVVLRQDOH
1XPHUR GL VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH ´)DWWRUH FRUUHWWLYR
DVVRFLD]LRQLµ
GRYH
•
•
•
´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ ´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ ´3HVR
VHWWLPDQHGLODYRURQHOO·DQQRµ
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ q SDUL D PLQRU YDORUH WUD H QXPHUR RUH
VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWj GLYLVR QXPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD
VRFLHWjRDVVRFLD]LRQHGLYLVR
´3HVR VHWWLPDQH GL ODYRUR QHOO·DQQRµ q SDUL D PLQRU YDORUH WUD ´9DORUH PDVVLPR GHOOH
VHWWLPDQHGLODYRURQHOO·DQQRµHQXPHURGLVHWWLPDQHGLODYRURQHOO·DQQRGLYLVRQXPHURVRFL
RDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHGLYLVR
,O´9DORUHPDVVLPRGHOOHVHWWLPDQHGLODYRURQHOO·DQQRµRYYHURVHWWLPDQHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWj
SDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
— 91 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$//(*$72
1 27$ 7 (&1,&$( 0 (72'2/2*,&$ 678',2',6(7725(:.8
$77,9,7­'(,',6(*1$725,7(&1,&,
— 92 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&5,7(5,3(5/·(92/8=,21('(//2678',2',6(7725(
/
DSSOLFD]LRQH GHOOR VWXGLR GL VHWWRUH DWWULEXLVFH DL FRQWULEXHQWL XQ ´FRPSHQVRULFDYR SRWHQ]LDOHµ 7DOH
FRPSHQVRULFDYRYLHQHVWLPDWRWHQHQGRFRQWRVLDGLYDULDELOLFRQWDELOLVLDGLYDULDELOLVWUXWWXUDOLFKHLQIOXHQ]DQR
LOULVXOWDWRHFRQRPLFRGLXQVRJJHWWRHVHUFHQWHDWWLYLWjSURIHVVLRQDOHGLVHJXLWR´SURIHVVLRQLVWDµRGLXQ·LPSUHVD
DQFKHFRQ ULIHULPHQWR DO FRQWHVWR WHUULWRULDOH LQ FXL JOL VWHVVL RSHUDQR /
DSSOLFD]LRQH GHOOR VWXGLR FRQVHQWH
LQROWUH GL YDOXWDUH OD FRHUHQ]D H OD QRUPDOLWj HFRQRPLFD GHO VLQJROR SURIHVVLRQLVWD R GHOOD VLQJROD LPSUHVD LQ
UHOD]LRQHDOVHWWRUHHFRQRPLFRGLDSSDUWHQHQ]D
$ WDOH VFRSR QHOO·DPELWR GHOOR VWXGLR YHQJRQR LQGLYLGXDWH OH UHOD]LRQL WUD OH YDULDELOL FRQWDELOL H OH YDULDELOL
VWUXWWXUDOL SHU DQDOL]]DUH L SRVVLELOL SURFHVVL SURGXWWLYL H L GLYHUVL PRGHOOL RUJDQL]]DWLYL LPSLHJDWL
QHOO·HVSOHWDPHQWRGHOO·DWWLYLWj
/·HYROX]LRQH GHOOR VWXGLR GL VHWWRUH q ILQDOL]]DWD D FRJOLHUH HYHQWXDOL FDPELDPHQWL VWUXWWXUDOL PRGLILFKH GHL
PRGHOOLRUJDQL]]DWLYLHYDULD]LRQLGLPHUFDWRDOO·LQWHUQRGHOVHWWRUHHFRQRPLFRHSUHVXSSRQHXQ·DWWLYLWjGLDQDOLVL
HULFHUFDHFRQRPLFDFKHYLHQHFRQGRWWDDWWLQJHQGRDIRQWLLQIRUPDWLYHSXEEOLFKHHQRQSXEEOLFKH
/HIRQWLSXEEOLFKHVRQRUDSSUHVHQWDWHGDHODERUD]LRQLGLHQWLRVRFLHWjFKHVYROJRQRULFHUFKHGLWLSRHFRQRPLFR
VWDWLVWLFR ,VWDW &HQVLV %DQFD G·,WDOLD ,QIRFDPHUH HFF H FKH IRUQLVFRQR GDWL H LQIRUPD]LRQL VXOO·DQGDPHQWR
HFRQRPLFR GHL PHUFDWL VXOOD VWUXWWXUD H OD GLPHQVLRQH GHL SULQFLSDOL VHWWRUL HFRQRPLFL H VXOOD FRQJLXQWXUD
HFRQRPLFD
2OWUH DOOH IRQWL GL FDUDWWHUH SXEEOLFR FKH IRUQLVFRQR LQIRUPD]LRQL SL JHQHUDOL YHQJRQR XWLOL]]DWH IRQWL
VSHFLILFKH VHWWRULDOL ULYLVWH VSHFLDOL]]DWH SDUWHFLSD]LRQH D VHPLQDUL H FRQYHJQL VSHFLDOLVWLFL SXEEOLFD]LRQL GHL
SULQFLSDOL LVWLWXWL GL ULFHUFD LQGDJLQL FDPSLRQDULH HFF VL WUDWWD GL IRQWL FKH LOOXVWUDQR O·DUWLFROD]LRQH HG
HYROX]LRQH GHOO·RIIHUWD VLD LQ WHUPLQL GL PRGHOOL RUJDQL]]DWLYL DGRWWDWL FKH GL JDPPD GL VHUYL]L SURIHVVLRQDOL
HURJDWL O·DQGDPHQWR H OD FRPSRVL]LRQH GHOOD GRPDQGD O·LPSDWWR GL SURYYHGLPHQWL QRUPDWLYL VXOO·DWWLYLWj
VXOO·RUJDQL]]D]LRQHHVXOODVWUXWWXUDGHOORVWXGLRSURIHVVLRQDOHRGHOO·LPSUHVD
8Q VXSSRUWR SL GLUHWWR H RSHUDWLYR SURYLHQH GD XQD UHWH GL WHFQLFL FRVWLWXLWD GD LVWLWXWL XQLYHUVLWDUL FHQWUL GL
ULFHUFDGRFHQWLHULFHUFDWRULFKHRSHUDDQFKHWUDPLWHO·XWLOL]]RGLSDQHOGLSURIHVVLRQLVWLHLPSUHVH
'LVHJXLWRYHQJRQRHVSRVWLLFULWHULVHJXLWLSHUODFRVWUX]LRQHGHOORVWXGLRGLVHWWRUH:.8HYROX]LRQHGHOOR
VWXGLR9.8
/HDWWLYLWjHFRQRPLFKHRJJHWWRGHOORVWXGLRGLVHWWRUH:.8VRQRTXHOOHUHODWLYHDLVHJXHQWLFRGLFL$7(&2
•
$OWUHDWWLYLWjGHLGLVHJQDWRULJUDILFL
•
$WWLYLWjGHLGLVHJQDWRULWHFQLFL
/·HYROX]LRQHGHOORVWXGLRGLVHWWRUHqVWDWDFRQGRWWDDQDOL]]DQGROHLQIRUPD]LRQLFRQWHQXWHQHOPRGHOOR9.8
SHUODFRPXQLFD]LRQHGHLGDWLULOHYDQWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUHSHULOSHULRGRG·LPSRVWD
WUDVPHVVRGDLFRQWULEXHQWLTXDOHDOOHJDWRDOPRGHOOR81,&2
3HUO·DWWLYLWjGLLPSUHVDVLSUHFLVDFKHODYDULDELOH´&RVWLSHUO·DFTXLVWRGLPDWHULHSULPHVXVVLGLDULHVHPLODYRUDWLH
PHUFLHVFOXVLTXHOOLUHODWLYLDSURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVRHSHUODSURGX]LRQHGLVHUYL]LµLQIDVHGL
DSSOLFD]LRQHqLOULVXOWDWRGHOODVRPPDGHOOHYDULDELOLRULJLQDULH´&RVWLSHUO·DFTXLVWRGLPDWHULHSULPHVXVVLGLDULH
VHPLODYRUDWLHPHUFLHVFOXVLTXHOOLUHODWLYLDSURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVRµH´&RVWRSHUODSURGX]LRQH
GLVHUYL]LµGHOPRGHOORLQDUJRPHQWR
,FRQWULEXHQWLLQWHUHVVDWLVRQRULVXOWDWLSDULD
1HOOD SULPD IDVH GL DQDOLVL SRVL]LRQL VRQR VWDWH VFDUWDWH LQ TXDQWR QRQ XWLOL]]DELOL QHOOH VXFFHVVLYH IDVL
GHOO·HODERUD]LRQH GHOOR VWXGLR GL VHWWRUH FDVL GL FHVVD]LRQH GL DWWLYLWj VLWXD]LRQL GL QRQ QRUPDOH VYROJLPHQWR
GHOO·DWWLYLWjFRQWULEXHQWLIRUIHWDULLPSUHVHQHOUHJLPHGHL´PLQLPLµQHOSHULRGRGLLPSRVWDSUHFHGHQWHSUHVHQ]D
GLDWWLYLWjVHFRQGDULHFRQXQ·LQFLGHQ]DVXLULFDYLFRPSOHVVLYLVXSHULRUHDOFRPSHQVLULFDYLGLFKLDUDWLDLILQL
GHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUHPDJJLRULGLHXUR
6XL GDWL FRQWHQXWL QHL PRGHOOL VWXGL GL VHWWRUH GHOOD UHVWDQWH SODWHD VRQR VWDWH FRQGRWWH DQDOLVL VWDWLVWLFKH SHU
ULOHYDUHODFRPSOHWH]]DODFRUUHWWH]]DHODFRHUHQ]DGHOOHLQIRUPD]LRQLLQHVVLFRQWHQXWH
— 93 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
7DOL DQDOLVL KDQQR FRPSRUWDWR DL ILQL GHOOD GHILQL]LRQH GHO FDPSLRQH GHOOR VWXGLR OR VFDUWR GL XOWHULRUL SRVL]LRQL,PRWLYLGLVFDUWRVRQRVWDWL
•
TXDGUR'HOHPHQWLVSHFLILFLGHOO
DWWLYLWjQRQFRPSLODWR
•
TXDGUR)HOHPHQWLFRQWDELOLQRQFRPSLODWR
•
TXDGUR*HOHPHQWLFRQWDELOLQRQFRPSLODWR
FRPXQHGHOTXDGUR%XQLWjORFDOLGHVWLQDWHDOO·HVHUFL]LRGHOO·DWWLYLWjHRDQDJUDILFRPDQFDQWHRHUUDWR
•
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLUHODWLYHDOODWLSRORJLDGHOO·DWWLYLWjTXDGUR'
•
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLUHODWLYHDOOHDUHHVSHFLDOLVWLFKHTXDGUR'
•
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLUHODWLYHDOODWLSRORJLDGHOODFOLHQWHODTXDGUR'
•
LQFRQJUXHQ]HIUDLGDWLVWUXWWXUDOLHLGDWLFRQWDELOL
•
$VHJXLWRGHJOLVFDUWLHIIHWWXDWLLOQXPHURGHLPRGHOOLRJJHWWRGHOOHVXFFHVVLYHDQDOLVLqULVXOWDWRSDULD
,'(17,),&$=,21('(,*5833,202*(1(,
3HUVXGGLYLGHUHLVRJJHWWLLQJUXSSLRPRJHQHLVXOODEDVHGHJOLDVSHWWLVWUXWWXUDOLqVWDWDVHJXLWDXQDVWUDWHJLDGL
DQDOLVLFKHFRPELQDLQVHTXHQ]DGXHWHFQLFKHVWDWLVWLFKHGLWLSRPXOWLYDULDWR
•
•
XQ·DQDOLVLIDWWRULDOHGHOWLSR$QDO\VHGHVGRQQpHVHQHOODIDWWLVSHFLHO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOL
XQSURFHGLPHQWRGL&OXVWHU$QDO\VLV
/·$QDOLVL LQ &RPSRQHQWL 3ULQFLSDOL q XQD WHFQLFD VWDWLVWLFD FKH SHUPHWWH GL ULGXUUH LO QXPHUR GHOOH YDULDELOL
RULJLQDULHSXUFRQVHUYDQGRJUDQSDUWHGHOO·LQIRUPD]LRQHLQL]LDOH$WDOILQHYHQJRQRLGHQWLILFDWHQXRYHYDULDELOL
GHWWHFRPSRQHQWLSULQFLSDOLWUDORURRUWRJRQDOLOLQHDUPHQWHLQGLSHQGHQWLLQFRUUHODWH
/HYDULDELOLSUHVHLQHVDPHQHOO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOLVRQRTXHOOHSUHVHQWLLQWXWWLLTXDGULGHOPRGHOOR
DGHFFH]LRQHGHOOHYDULDELOLGHLTXDGULGHJOLHOHPHQWLFRQWDELOL7DOHVFHOWDQDVFHGDOO·HVLJHQ]DGLFDUDWWHUL]]DUHL
VRJJHWWL LQ EDVH DL SRVVLELOL PRGHOOL RUJDQL]]DWLYL DOOH GLYHUVH PRGDOLWj GL VYROJLPHQWR GHOO·DWWLYLWj HFF WDOH
FDUDWWHUL]]D]LRQH q SRVVLELOH VROR XWLOL]]DQGR OH LQIRUPD]LRQL UHODWLYH DOOH VWUXWWXUH RSHUDWLYH DO PHUFDWR GL
ULIHULPHQWRHDWXWWLTXHJOLHOHPHQWLVSHFLILFLFKHFDUDWWHUL]]DQROHGLYHUVHUHDOWjHFRQRPLFKH
1HOO·DSSOLFD]LRQH GHOO·$QDOLVL LQ &RPSRQHQWL 3ULQFLSDOL q VWDWD VFHOWD OD VROX]LRQH PLJOLRUH LQ WHUPLQL GL
VLJQLILFDWLYLWjVWDWLVWLFDHGHFRQRPLFD3HUWDQWRVRQRVWDWHVFHOWHOHFRPSRQHQWLSULQFLSDOLFKHULHVFRQRDVSLHJDUH
OD PDJJLRU SDUWH GHOOD YDULDQ]D LQL]LDOH H FKH FRQVHQWRQR VXOOD EDVH GHO FULWHULR GHOO·LQWHUSUHWDELOLWj GL
UDSSUHVHQWDUHLGLYHUVLDVSHWWLVWUXWWXUDOLGHOOHDWWLYLWjRJJHWWRGLVWXGLR
/DWHFQLFDVWDWLVWLFDGHOOD&OXVWHU$QDO\VLVDSSOLFDWDDLULVXOWDWLGHOO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOLSHUPHWWHGL
LGHQWLILFDUH JUXSSL RPRJHQHL GL VRJJHWWL FOXVWHU LQ WDO PRGR q SRVVLELOH UDJJUXSSDUH L VRJJHWWL FRQ
FDUDWWHULVWLFKHVWUXWWXUDOLHGRUJDQL]]DWLYHVLPLOL
/·XWLOL]]R FRPELQDWR GHOOH GXH WHFQLFKH q SUHIHULELOH ULVSHWWR D XQ·DSSOLFD]LRQH GLUHWWD GHOOD &OXVWHU $QDO\VLV
SRLFKpULGXFHQGRFRQO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOLLOQXPHURGLYDULDELOLVXFXLHIIHWWXDUHLOSURFHGLPHQWR
GLFODVVLILFD]LRQHO·RSHUD]LRQHGLFOXVWHULQJULVXOWDPHQRFRPSOHVVDHSLSUHFLVD
, JUXSSL RPRJHQHL LQGLYLGXDWL VRQR YDOXWDWL DQFKH LQ WHUPLQL GL VLJQLILFDWLYLWj HFRQRPLFD SHU YHULILFDUQH
O·DGHUHQ]DDOODFRQFUHWDUHDOWjVHWWRULDOH
1HO SURFHGLPHQWR GL FOXVWHULQJ DGRWWDWR TXLQGL O·RPRJHQHLWj GHL JUXSSL GHYH HVVHUH LQWHUSUHWDWD QRQ WDQWR LQ
UDSSRUWRDOOHFDUDWWHULVWLFKHGHOOHVLQJROHYDULDELOLTXDQWRLQIXQ]LRQHGHOOHSULQFLSDOLLQWHUUHOD]LRQLHVLVWHQWLWUDOH
YDULDELOLHVDPLQDWHFKHFRQFRUURQRDGHILQLUHLOSURILORGHLVLQJROLJUXSSL
/DGHVFUL]LRQHGHLJUXSSLRPRJHQHLqULSRUWDWDQHO6XE$OOHJDWR$
1HOODIDVHGL&OXVWHU$QDO\VLVDOILQHGLJDUDQWLUHODPDVVLPDRPRJHQHLWjGHLVRJJHWWLDSSDUWHQHQWLDFLDVFXQJUXSSRYHQJRQRFODVVLILFDWH
VROR OH RVVHUYD]LRQL FKH SUHVHQWDQR FDUDWWHULVWLFKH VWUXWWXUDOL VLPLOL ULVSHWWR D TXHOOH SURSULH GL XQR VSHFLILFR JUXSSR RPRJHQHR 1RQ
YHQJRQR LQYHFH SUHVL LQ FRQVLGHUD]LRQH DL ILQL GHOOD FODVVLILFD]LRQH L VRJJHWWL FKH SRVVLHGRQR DVSHWWL VWUXWWXUDOL ULIHULELOL
FRQWHPSRUDQHDPHQWH D GXH R SL JUXSSL RPRJHQHL 8JXDOPHQWH QRQ YHQJRQR FODVVLILFDWH OH RVVHUYD]LRQL FKH SUHVHQWDQR XQ SURILOR
VWUXWWXUDOHPROWRGLVVLPLOHULVSHWWRDOO·LQVLHPHGHLFOXVWHULQGLYLGXDWL
— 94 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
'(),1,=,21('(//$)81=,21(',&203(1625,&$92
8QD YROWD VXGGLYLVL L VRJJHWWL LQ JUXSSL RPRJHQHL q QHFHVVDULR GHWHUPLQDUH SHU FLDVFXQ JUXSSR RPRJHQHR OD
IXQ]LRQHPDWHPDWLFDFKHPHJOLRVLDGDWWDDOO·DQGDPHQWRGHLFRPSHQVLULFDYLGHLVRJJHWWLDSSDUWHQHQWLDOORVWHVVR
JUXSSR3HUGHWHUPLQDUHWDOHIXQ]LRQHVLqULFRUVRDOOD5HJUHVVLRQH/LQHDUH0XOWLSOD
/D 5HJUHVVLRQH /LQHDUH 0XOWLSOD q XQD WHFQLFD VWDWLVWLFD FKH SHUPHWWH GL LQWHUSRODUH L GDWL FRQ XQ PRGHOOR
VWDWLVWLFRPDWHPDWLFR FKH GHVFULYH O·DQGDPHQWR GHOOD YDULDELOH GLSHQGHQWH LQ IXQ]LRQH GL XQD VHULH GL YDULDELOL
LQGLSHQGHQWL
/DVWLPDGHOOD´IXQ]LRQHGLFRPSHQVRULFDYRµqVWDWDHIIHWWXDWDLQGLYLGXDQGRODUHOD]LRQHWUDLOFRPSHQVRULFDYR
YDULDELOHGLSHQGHQWHHLGDWLFRQWDELOLHVWUXWWXUDOLGHLFRQWULEXHQWLYDULDELOLLQGLSHQGHQWL
Ë RSSRUWXQR ULOHYDUH FKH SULPD GL GHILQLUH LO PRGHOOR GL UHJUHVVLRQH q VWDWD HIIHWWXDWD XQ·DQDOLVL VXL GDWL GHL
VRJJHWWL SHU YHULILFDUH OH FRQGL]LRQL GL FRHUHQ]D GHL GDWL QHOO·HVHUFL]LR GHOO·DWWLYLWj H SHU VFDUWDUH OH VLWXD]LRQL
DQRPDOH FLz VL q UHVR QHFHVVDULR DO ILQH GL HYLWDUH SRVVLELOL GLVWRUVLRQL QHOOD GHWHUPLQD]LRQH GHOOD ´IXQ]LRQH GL
FRPSHQVRULFDYRµ
$ WDO ILQH VRQR VWDWL VHOH]LRQDWL LQ EDVH DOOD ORUR FDSDFLWj GL LQGLYLGXDUH DQRPDOLH QHOOD UHOD]LRQH WUD OH YRFL
HVDPLQDWHLVHJXHQWLLQGLFDWRULGLQDWXUDHFRQRPLFRFRQWDELOH
*OLLQGLFDWRULVHOH]LRQDWLSHUO·DWWLYLWjGLODYRURDXWRQRPRVRQRLVHJXHQWL
•
•
,QFLGHQ]D GHJOL DPPRUWDPHQWL SHU EHQL VWUXPHQWDOL PRELOL ULVSHWWR DO YDORUH GHJOL VWHVVL EHQL
VWUXPHQWDOLPRELOLDPPRUWL]]DELOL
,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQHVXLFRPSHQVL
/HIRUPXOHGHJOLLQGLFDWRULHFRQRPLFRFRQWDELOLVRQRULSRUWDWHQHO6XE$OOHJDWR&
*OLLQGLFDWRULVHOH]LRQDWLSHUO·DWWLYLWjGLLPSUHVDVRQRLVHJXHQWL
•
•
•
,QFLGHQ]D GHJOL DPPRUWDPHQWL SHU EHQL VWUXPHQWDOL PRELOL ULVSHWWR DO YDORUH GHJOL VWHVVL EHQL
VWUXPHQWDOLPRELOLDPPRUWL]]DELOL
,QFLGHQ]D GHL FRVWL SHU EHQL PRELOL DFTXLVLWL LQ GLSHQGHQ]D GL FRQWUDWWL GL ORFD]LRQH ILQDQ]LDULD
ULVSHWWRDOYDORUHGHJOLVWHVVL
,QFLGHQ]DGHLFRVWLUHVLGXDOLGLJHVWLRQHVXLULFDYL
/HIRUPXOHGHJOLLQGLFDWRULHFRQRPLFRFRQWDELOLVRQRULSRUWDWHQHO6XE$OOHJDWR&
6XFFHVVLYDPHQWHDLILQLGHOODGHWHUPLQD]LRQHGHOFDPSLRQHGLULIHULPHQWRVRQRVWDWLHVFOXVLLVRJJHWWLFKHQRQ
ULVSHWWDYDQR OH FRQGL]LRQL GL QRUPDOLWj HFRQRPLFD DQFKH SHU XQ VROR LQGLFDWRUH GL TXHOOL VRSUD FLWDWL ,QROWUH
VRQRVWDWHHVFOXVHDQFKHOHLPSUHVHFKHSUHVHQWDYDQRLOFRVWRGHOYHQGXWRHSHUODSURGX]LRQHGLVHUYL]LQHJDWLYR
&RVuGHILQLWRLOFDPSLRQHGLULIHULPHQWRVLqSURFHGXWRDOODGHILQL]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRULFDYRµSHU
FLDVFXQJUXSSRRPRJHQHR
3HU OD GHWHUPLQD]LRQH GHOOD ´IXQ]LRQH GL FRPSHQVRULFDYRµ VRQR VWDWH XWLOL]]DWH YDULDELOL FRQWDELOL YDULDELOL
VWUXWWXUDOL H YDULDELOLWHUULWRULDOL /D VFHOWDGHOOH YDULDELOLVLJQLILFDWLYH qVWDWD HIIHWWXDWD FRQ LOPHWRGR ´VWHSZLVHµ
/·LQGLFDWRUHPLVXUDODSODXVLELOLWjWUDLOYDORUHGHLEHQLVWUXPHQWDOLPRELOLGLSURSULHWjDPPRUWL]]DELOLHLOYDORUHGHJOLDPPRUWDPHQWLGHL
EHQLVWUXPHQWDOLPRELOL
/·LQGLFDWRUHYHULILFDODSODXVLELOLWjWUDODYRFH´DOWUHFRPSRQHQWLQHJDWLYHµHGLOWRWDOHGHLFRPSHQVL1HOFDOFRORGHOOHDOWUHFRPSRQHQWL
QHJDWLYHQRQVLWLHQHFRQWRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLLPPRELOLHDEHQLVWUXPHQWDOLPRELOL
/·LQGLFDWRUHPLVXUDODSODXVLELOLWjWUDLOYDORUHGHLEHQLVWUXPHQWDOLPRELOLDFTXLVLWLLQGLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQHILQDQ]LDULDLQ
OHDVLQJHLFDQRQLGLOHDVLQJ
/·LQGLFDWRUHYHULILFDFKHOHYRFLGLFRVWRUHODWLYHDJOLRQHULGLYHUVLGLJHVWLRQHHDOOHDOWUHFRPSRQHQWLQHJDWLYHFRVWLWXLVFDQRXQDSODXVLELOH
FRPSRQHQWHUHVLGXDOHGLFRVWR
9HGL VH]LRQH ´$QDOLVL GHOOD 1RUPDOLWj (FRQRPLFDµ 6L ID SUHVHQWH FKH DL VROL ILQL LQGLFDWL SHU O·LQGLFDWRUH ´,QFLGHQ]D GHOOH DOWUH
FRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQHVXLFRPSHQVLµVLIDULIHULPHQWRDLFRPSHQVLGLFKLDUDWLHSHUO·LQGLFDWRUH´,QFLGHQ]D
GHLFRVWLUHVLGXDOLGLJHVWLRQHVXLULFDYLµVLIDULIHULPHQWRDLULFDYLGLFKLDUDWLQHOGHQRPLQDWRUHGHOOHUHODWLYHIRUPXOH
,O PHWRGR VWHSZLVH XQLVFH GXH WHFQLFKH VWDWLVWLFKH SHU OD VFHOWD GHO PLJOLRU PRGHOOR GL VWLPD OD UHJUHVVLRQH IRUZDUG ´LQ DYDQWLµ H OD
UHJUHVVLRQHEDFNZDUG´LQGLHWURµ/DUHJUHVVLRQHIRUZDUGSUHYHGHGLSDUWLUHGDXQPRGHOORVHQ]DYDULDELOLHGLLQWURGXUUHSDVVRGRSRSDVVR
OD YDULDELOH SL VLJQLILFDWLYD PHQWUH OD UHJUHVVLRQH EDFNZDUG LQL]LD FRQVLGHUDQGR QHO PRGHOOR WXWWH OH YDULDELOL GLVSRQLELOL H ULPXRYHQGR
SDVVRSHUSDVVRTXHOOHQRQVLJQLILFDWLYH&RQLOPHWRGRVWHSZLVHSDUWHQGRGDXQPRGHOORGLUHJUHVVLRQHVHQ]DYDULDELOLVLSURFHGHSHUSDVVL
VXFFHVVLYLDOWHUQDQGRGXHIDVLQHOODSULPDIDVHVLLQWURGXFHODYDULDELOHPDJJLRUPHQWHVLJQLILFDWLYDIUDTXHOOHFRQVLGHUDWHQHOODVHFRQGDVL
ULHVDPLQD O·LQVLHPHGHOOHYDULDELOLLQWURGRWWHSHUYHULILFDUHVHqSRVVLELOH HOLPLQDUQHTXDOFXQDQRQSL VLJQLILFDWLYD,O SURFHVVRFRQWLQXD
— 95 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
8QDYROWDVHOH]LRQDWHOHYDULDELOLODGHWHUPLQD]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRULFDYRµqRWWHQXWDDSSOLFDQGRLO
PHWRGRGHLPLQLPLTXDGUDWLJHQHUDOL]]DWLFKHFRQVHQWHGLFRQWUROODUHO·HYHQWXDOHSUHVHQ]DGLHWHURVFKHGDVWLFLWj
FRQQHVVDDOODYDULDELOLWjOHJDWDDGDVSHWWLGLPHQVLRQDOL
1HO6XE$OOHJDWR+YHQJRQRULSRUWDWHOHYDULDELOLHGLULVSHWWLYLFRHIILFLHQWLGHOOD´IXQ]LRQHGLFRPSHQVRµSHU
O·DWWLYLWjGLODYRURDXWRQRPR
1HO 6XE $OOHJDWR + YHQJRQR ULSRUWDWH OH YDULDELOL HG L ULVSHWWLYL FRHIILFLHQWL GHOOD ´IXQ]LRQH GL ULFDYRµ SHU
O·DWWLYLWjGLLPSUHVD
ILQR D TXDQGR QRQ q SL SRVVLELOH DSSRUWDUH DOFXQD PRGLILFD DOO·LQVLHPH GHOOH YDULDELOL RYYHUR TXDQGR QHVVXQD YDULDELOH SXz HVVHUH
DJJLXQWDRSSXUHHOLPLQDWD
— 96 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$33/,&$=,21('(//2678',2',6(7725(
,QIDVHGLDSSOLFD]LRQHGHOORVWXGLRGLVHWWRUHVRQRSUHYLVWHOHVHJXHQWLIDVL
•
•
•
•
$QDOLVL'LVFULPLQDQWH
$QDOLVLGHOOD&RHUHQ]D
$QDOLVLGHOOD1RUPDOLWj(FRQRPLFD
$QDOLVLGHOOD&RQJUXLWj
$1$/,6,',6&5,0,1$17(
8QDYROWDVXGGLYLVLLVRJJHWWLLQJUXSSLRPRJHQHLqQHFHVVDULRGHWHUPLQDUHXQDUHJRODGLFODVVLILFD]LRQHLQJUDGR
GLGHILQLUHO·DSSDUWHQHQ]DGLFLDVFXQFRQWULEXHQWHDLJUXSSLRPRJHQHLLQGLYLGXDWLQHOODIDVHGL&OXVWHU$QDO\VLVOD
GHVFUL]LRQHGHLJUXSSLRPRJHQHLqULSRUWDWDQHO6XE$OOHJDWR$
$OULJXDUGRqVWDWDXWLOL]]DWDO·DQDOLVLGLVFULPLQDQWHOLQHDUHGL)LVKHU6LWUDWWDGLXQDWHFQLFDVWDWLVWLFDPXOWLYDULDWD
XWLOHSHULGHQWLILFDUHTXHOOHYDULDELOLFKHPHJOLRGLVFULPLQDQRLJUXSSLRPRJHQHL
1HOO·DQDOLVLGLVFULPLQDQWHOLQHDUHSHURJQLJUXSSRRPRJHQHRYLHQHFDOFRODWDXQDIXQ]LRQHGLFODVVLILFD]LRQHFRPH
FRPELQD]LRQHOLQHDUHGHOOHYDULDELOLGLVFULPLQDQWL
6XOOD EDVH GHL SXQWHJJL GLVFULPLQDQWL RWWHQXWL XWLOL]]DQGR WDOH IXQ]LRQH YLHQH GHWHUPLQDWD OD SUREDELOLWj GL
DSSDUWHQHQ]D DL JUXSSL RPRJHQHL ,Q WDO PRGR q SRVVLELOH DVVRFLDUH RJQL VLQJROR FRQWULEXHQWH DG XQR R SL
JUXSSLRPRJHQHLGHILQHQGROHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]D
1HO 6XE $OOHJDWR % YHQJRQR ULSRUWDWH OH YDULDELOL ULVXOWDWH VLJQLILFDWLYH QHOO·DQDOLVL FRQ L ULVSHWWLYL SHVL
GLVFULPLQDQWLLQGLYLGXDWLSHURJQLJUXSSRRPRJHQHR
$1$/,6,'(//$&2(5(1=$
/·DQDOLVLGHOODFRHUHQ]DSHUPHWWHGLYDOXWDUHLFRQWULEXHQWLVXOODEDVHGLVSHFLILFLLQGLFDWRULHFRQRPLFLFDOFRODWL
FRPHUDSSRUWRWUDGHWHUPLQDWHYDULDELOLFRQWDELOLHRVWUXWWXUDOLFRQWHQXWHQHOPRGHOORSHUODFRPXQLFD]LRQHGHL
GDWLULOHYDQWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUH*OLLQGLFDWRULSHULSURIHVVLRQLVWLVRQRVWDWLVHOH]LRQDWL
LQ EDVH DOOD ORUR FDSDFLWj GL PLVXUDUH O·HIILFLHQ]D H OD UHGGLWLYLWj GHOO·DWWLYLWj SURIHVVLRQDOH JOL LQGLFDWRUL SHU OH
LPSUHVH LQ EDVH DOOD ORUR FDSDFLWj GL PLVXUDUH O·HIILFLHQ]D OD SURGXWWLYLWj H OD UHGGLWLYLWj QHOOR VYROJLPHQWR
GHOO·DWWLYLWjHFRQRPLFD
&RQO·DQDOLVLGHOODFRHUHQ]DSHUFLDVFXQVRJJHWWRVLYDOXWDLOSRVL]LRQDPHQWRGHOYDORUHGLRJQLVLQJRORLQGLFDWRUH
ULVSHWWRDGXQLQWHUYDOORLQGLYLGXDWRFRPHHFRQRPLFDPHQWHFRHUHQWHVXOODEDVHGHLYDORULVRJOLDDPPLVVLELOL
*OLLQGLFDWRULXWLOL]]DWLQHOO·DQDOLVLGHOODFRHUHQ]DSHUO·DWWLYLWjGLODYRURDXWRQRPRVRQRLVHJXHQWL
/HYDULDELOLGLVFULPLQDQWLYHQJRQRVHOH]LRQDWHFRQLOPHWRGRVWHSZLVHSDUWHQGRGDTXHOOHXWLOL]]DWHQHOO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOL
/DIXQ]LRQHGLFODVVLILFD]LRQHqGHILQLWDQHOVHJXHQWHPRGR
ZL DLDLYDUGLVDLYDUGLVDLPYDUGLVP
GRYH
ZLqLOSXQWHJJLRGLVFULPLQDQWHUHODWLYRDOJUXSSRRPRJHQHRL
DLqO·LQWHUFHWWD
DLMVRQRLSHVLGLVFULPLQDQWLVFHOWLLQPRGRGDUHQGHUHPDVVLPDODVHSDUD]LRQHWUDLJUXSSL
YDUGLVMqODMHVLPDYDULDELOHGLVFULPLQDQWH
/DSUREDELOLWjGLDSSDUWHQHQ]DDOJUXSSRRPRJHQHRLqFDOFRODWDQHOVHJXHQWHPRGR
H {Z L − 0D[ [Z Z Z Q ]}
3URE L =
{Z − 0D[ [Z Z Z Q ]} ¦ NQ = H N
GRYHQqLOQXPHURFRPSOHVVLYRGLJUXSSLRPRJHQHL
/HSUREDELOLWjGLDSSDUWHQHQ]DDLFOXVWHUVRQRDUURWRQGDWHDOODTXLQWDFLIUDGHFLPDOH
— 97 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
•
,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVL
•
,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWL
•
0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWR
•
•
5HQGLPHQWR ORUGR SHU DGGHWWR ² LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R
DVVLPLODWR
5HVDRUDULDSHUDGGHWWR
/HIRUPXOHGHJOLLQGLFDWRULXWLOL]]DWLVRQRULSRUWDWHQHO6XE$OOHJDWR&
*OLLQGLFDWRULXWLOL]]DWLQHOO·DQDOLVLGHOODFRHUHQ]DSHUO·DWWLYLWjGLLPSUHVDVRQRLVHJXHQWL
•
•
•
,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWL
0DUJLQHSHUDGGHWWRQRQGLSHQGHQWH²LQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRUR
9DORUHDJJLXQWRORUGRSHUDGGHWWR²LQSUHVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRUR
/HIRUPXOHGHJOLLQGLFDWRULXWLOL]]DWLVRQRULSRUWDWHQHO6XE$OOHJDWR&
$LILQLGHOODLQGLYLGXD]LRQHGHLYDORULVRJOLDFKHGHILQLVFRQRODFRHUHQ]DHFRQRPLFDSHUFLDVFXQRGHJOLLQGLFDWRUL
XWLOL]]DWLVRQRVWDWHHVDPLQDWHSUHOLPLQDUPHQWHDGHFFH]LRQHGHOO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHOFRVWRSHULO
JRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWLµOHUHODWLYHGLVWULEX]LRQLYHQWLOLFKHGLIIHUHQ]LDWHSHUJUXSSR
RPRJHQHR SHU JOL LQGLFDWRUL ´0DUJLQH GHO SURIHVVLRQLVWD LQ DVVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR
GLSHQGHQWHRDVVLPLODWRµ´9DORUHDJJLXQWRORUGRSHUDGGHWWR LQSUHVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURµH
´0DUJLQH SHU DGGHWWR QRQ GLSHQGHQWH LQ DVVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRURµ DQFKH VXOOD EDVH GHOOD
´7HUULWRULDOLWjJHQHUDOHµDOLYHOORSURYLQFLDOHSHUO·LQGLFDWRUH´,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVLµDQFKHVXOOD
/·LQGLFDWRUH PLVXUD LO SHVR GHO WRWDOH GHOOH VSHVH VRVWHQXWH GDOOR VWXGLR SURIHVVLRQDOH DO QHWWR GHOOH VSHVH SHU FDQRQL GL ORFD]LRQH
ILQDQ]LDULDHQRQILQDQ]LDULDVXLFRPSHQVLFRPSOHVVLYDPHQWHLQFDVVDWL
/·LQGLFDWRUH PLVXUD LO JUDGR GL FRSHUWXUD GHL SULQFLSDOL FRVWL SHU O·XWLOL]]R GL EHQL VWUXPHQWDOL DOO·DWWLYLWj GHOOR VWXGLR SURIHVVLRQDOH
PHGLDQWH LO ´PDUJLQHµ DO QHWWR GHOOD UHPXQHUD]LRQH ULWHQXWD HFRQRPLFDPHQWH SODXVLELOH GHO WLWRODUH R GHL VRFLDVVRFLDWL GHOOR VWXGLR
SURIHVVLRQDOH
/·LQGLFDWRUH PLVXUD LO FRQWULEXWR GHO WLWRODUH R GHL VRFLDVVRFLDWL GHOOR VWXGLR SURIHVVLRQDOH DOOD FUHD]LRQH GHO ´PDUJLQHµ RYYHUR
UDSSUHVHQWDODFDSDFLWjGLUHPXQHUDUHDOORUGRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLPRELOLHLPPRELOLHGHJOL
DPPRUWDPHQWLODSURSULDDWWLYLWjSURIHVVLRQDOH
7DOH LQGLFDWRUH VL DSSOLFD VROR LQ DVVHQ]D GL ´6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWHµ H ´6SHVH SHU SUHVWD]LRQL GL FROODERUD]LRQH
FRRUGLQDWDHFRQWLQXDWLYDµ
/·LQGLFDWRUHPLVXUDLOYDORUHSURGRWWRGDOORVWXGLRSURIHVVLRQDOHGHVWLQDWRDUHPXQHUDUHROWUHLOWLWRODUHRVRFLDVVRFLDWL DQFKHTXHL
IDWWRUL FKH FRQWULEXLVFRQR D JHQHUDUH YDORUH FRPH LO ODYRUR VRWWR IRUPD GL VWLSHQGL FRQWULEXWL LQGHQQLWj GL ILQH UDSSRUWR HG L EHQL
VWUXPHQWDOLDOO·DWWLYLWjVRWWRIRUPDQHOFDVRGLJRGLPHQWRGLEHQLGLWHU]LGLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQL
LPPRELOLHRDEHQLVWUXPHQWDOLPRELOLHQHOFDVRGLJRGLPHQWRGLEHQLLQSURSULHWjGLDPPRUWDPHQWL
7DOHLQGLFDWRUHVLDSSOLFDVRORLQSUHVHQ]DGL´6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHµHR´6SHVHSHUSUHVWD]LRQLGLFROODERUD]LRQH
FRRUGLQDWDHFRQWLQXDWLYDµ
/·LQGLFDWRUH PLVXUD O·DPPRQWDUH GHL FRPSHQVL SHUFHSLWL GDOOR VWXGLR SURIHVVLRQDOH SHU L VHUYL]L HURJDWL GD FLDVFXQ DGGHWWR QHOO·DUFR
WHPSRUDOHGLXQ·RUD
/·LQGLFDWRUHPLVXUDLOJUDGRGLFRSHUWXUDGHLSULQFLSDOLFRVWLSHUO·XWLOL]]RGLEHQLVWUXPHQWDOLDOO·DWWLYLWjGHOO·LPSUHVDPHGLDQWHLO0DUJLQH
DOQHWWRGHOODUHPXQHUD]LRQHULWHQXWDHFRQRPLFDPHQWHSODXVLELOHGHJOLDGGHWWLQRQGLSHQGHQWL
/·LQGLFDWRUH PLVXUD LO FRQWULEXWR GL FLDVFXQ DGGHWWR QRQ GLSHQGHQWH DOOD FUHD]LRQH GHO ´PDUJLQHµ RYYHUR UDSSUHVHQWD OD FDSDFLWj
GHOO·LPSUHVDGLUHPXQHUDUHDOORUGRGHOFRVWRSHUJRGLPHQWRGLEHQLGLWHU]LGHJOLDPPRUWDPHQWLGHJOLDFFDQWRQDPHQWLHGHOO·HYHQWXDOH
ULVXOWDWRQHJDWLYRGHOODJHVWLRQHILQDQ]LDULDHVWUDRUGLQDULDLOODYRURQRQGLSHQGHQWH
7DOHLQGLFDWRUHVL DSSOLFDVRORLQ DVVHQ]DGL´6SHVHSHUODYRURGLSHQGHQWHHSHUDOWUHSUHVWD]LRQLGLYHUVHGDODYRURGLSHQGHQWHDIIHUHQWL
O
DWWLYLWjGHOO
LPSUHVDµDOQHWWRGHL´&RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjGLSHUVRQHµ
/·LQGLFDWRUHPLVXUDODFUHD]LRQHGHOYDORUHFRQULIHULPHQWRDOFRQWULEXWRGLFLDVFXQDGGHWWR,OYDORUHDJJLXQWRORUGRUDSSUHVHQWDLQIDWWL
LOYDORUHFKHXQ·D]LHQGDDJJLXQJHFRQO·LPSLHJRGHLIDWWRULSURGXWWLYLDOYDORUHGHLEHQLHGHLVHUYL]LFKHDFTXLVLVFHFRQVXPLGLPDWHULH
SULPH H PHUFL DFTXLVWL SL YDULD]LRQL GL ULPDQHQ]H H SUHVWD]LRQL GL VHUYL]L HQHUJLD VHUYL]L GL SXOL]LD HFF 0LVXUD TXLQGL OD FDSDFLWj
GHOO·LPSUHVD GL UHPXQHUDUH TXHL IDWWRUL FKH FRQWULEXLVFRQR D JHQHUDUH YDORUH DG HVHPSLR LO ODYRUR VRWWR IRUPD GL VDODUL VWLSHQGL
FRQWULEXWLLQGHQQLWjGLILQHUDSSRUWRLILQDQ]LDPHQWLGLWHU]LVRWWRIRUPDGLLQWHUHVVLLILQDQ]LDPHQWLGLFDSLWDOHGLULVFKLRVRWWRIRUPD
GLXWLOLHFF
7DOHLQGLFDWRUHVLDSSOLFDVRORLQSUHVHQ]DGL´6SHVHSHUODYRURGLSHQGHQWHHSHUDOWUHSUHVWD]LRQLGLYHUVHGDODYRURGLSHQGHQWHDIIHUHQWL
O
DWWLYLWjGHOO
LPSUHVDµDOQHWWRGHL´&RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjGLSHUVRQHµ
1HOOD WHUPLQRORJLD VWDWLVWLFD VL GHILQLVFH ´GLVWULEX]LRQH YHQWLOLFDµ O·LQVLHPH GHL YDORUL FKH VXGGLYLGRQR OH RVVHUYD]LRQL RUGLQDWH SHU
YDORULFUHVFHQWLGHOO·LQGLFDWRUHLQJUXSSLGLXJXDOHQXPHURVLWj,OSULPRYHQWLOHqLOYDORUHDOGLVRWWRGHOTXDOHVLSRVL]LRQDLOSULPR
GHOOHRVVHUYD]LRQLLOVHFRQGRYHQWLOHqLOYDORUHDOGLVRWWRGHOTXDOHVLSRVL]LRQDLOSULPRGHOOHRVVHUYD]LRQLHFRVuYLD
,FULWHULHOHFRQFOXVLRQLGHOORVWXGLRVRQRULSRUWDWLQHOO·DSSRVLWR'HFUHWR0LQLVWHULDOH
— 98 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
EDVHGHOODSUHVHQ]DDVVHQ]DGLIRU]DODYRUR,YDORULGHOOHVRJOLHGHLGLYHUVLLQGLFDWRULVRQRVWDWLLQGLYLGXDWLDG
HFFH]LRQHGHOO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWLµ
VFHJOLHQGR TXHOOL FKH SRVVRQR ULWHQHUVL HFRQRPLFDPHQWH SODXVLELOL FRQ ULIHULPHQWR DOOH SUDWLFKH RVVHUYDELOL QHO
VHWWRUHHQHOFOXVWHUVSHFLILFR3HUJOLLQGLFDWRUL´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQL
GLODYRURGLSHQGHQWHRDVVLPLODWRµ´9DORUHDJJLXQWRORUGRSHUDGGHWWRLQSUHVHQ]DGLVSHVHSHUSUHVWD]LRQLGL
ODYRURµH´0DUJLQHSHUDGGHWWRQRQGLSHQGHQWHLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURµVLqLQROWUHWHQXWR
FRQWR GHOO·DUHD WHUULWRULDOH GL DSSDUWHQHQ]D SHU O·LQGLFDWRUH ´,QFLGHQ]D GHOOH VSHVH VXL FRPSHQVLµ VL q LQYHFH
WHQXWRFRQWRSULQFLSDOPHQWHGHOGLYHUVRDPPRQWDUHGHOOHVSHVHVRVWHQXWHGDLFRQWULEXHQWLFKHVLDYYDOJRQRGL
GLSHQGHQWLHRFROODERUDWRULULVSHWWRDFRORURFKHQRQVHQHDYYDOJRQR
/HGLVWULEX]LRQLYHQWLOLFKHGHJOLLQGLFDWRULGLFRHUHQ]DHFRQRPLFDYHQJRQRULSRUWDWHQHO6XE$OOHJDWR'SHU
O·DWWLYLWjGLODYRURDXWRQRPRHQHO6XE$OOHJDWR'SHUO·DWWLYLWjGLLPSUHVD
,YDORULVRJOLDGLFRHUHQ]DDPPLVVLELOLVRQRULSRUWDWLQHO6XE$OOHJDWR(SHUO·DWWLYLWjGLODYRURDXWRQRPRHQHO
6XE$OOHJDWR(SHUO·DWWLYLWjGLLPSUHVD
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVLµVHO·LQGLFDWRUHqFDOFRODELOHHVHLO
VXRYDORUHVLSRVL]LRQDDOO·LQWHUQRGHOO·LQWHUYDOORLQGLYLGXDWRFRPHHFRQRPLFDPHQWHFRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWLµWDQWRSHUO·DWWLYLWjGLLPSUHVDFKHSHUO·DWWLYLWjGLODYRURDXWRQRPRVHLOYDORUHGHOO·LQGLFDWRUHq
PDJJLRUHRXJXDOHD1HOFDVRLQFXLO·LQGLFDWRUHULVXOWLQRQFDOFRODELOHFRQLO0DUJLQHQHWWRPDJJLRUHGL]HURR
O·LQGLFDWRUH ULVXOWL LQGHWHUPLQDWR LO VRJJHWWR YLHQH GHILQLWR FRHUHQWH 1HO FDVR LQ FXL O·LQGLFDWRUH ULVXOWL QRQ
FDOFRODELOHFRQLO0DUJLQHQHWWRPLQRUHGL]HURLOVRJJHWWRYLHQHGHILQLWRQRQFRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUJOLLQGLFDWRUL´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGL
ODYRURGLSHQGHQWHRDVVLPLODWRµH´5HQGLPHQWRORUGRSHUDGGHWWRLQSUHVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWRµVHLOYDORUHGHJOLLQGLFDWRULqPDJJLRUHRXJXDOHDOODVRJOLDPLQLPDLQGLYLGXDWD1HOFDVR
LQFXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµULVXOWLSDULD]HURLOVRJJHWWRYLHQHGHILQLWR
FRHUHQWH
,O VRJJHWWR ULVXOWD FRHUHQWH SHU O·LQGLFDWRUH ´0DUJLQH SHU DGGHWWR QRQ GLSHQGHQWH LQ DVVHQ]D GL VSHVH SHU
SUHVWD]LRQLGLODYRURµVHLOYDORUHGHOO·LQGLFDWRUHqPDJJLRUHRXJXDOHDOODVRJOLDPLQLPDLQGLYLGXDWD1HOFDVRLQ
FXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµULVXOWLSDULD]HURLOVRJJHWWRYLHQHGHILQLWR
FRHUHQWH1HOFDVRLQFXLO·LQGLFDWRUHULVXOWLQRQFDOFRODELOH FRQLO0DUJLQHPDJJLRUHGL]HURRO·LQGLFDWRUHULVXOWL
LQGHWHUPLQDWRLOVRJJHWWRYLHQHGHILQLWRFRHUHQWH1HOFDVRLQFXLO·LQGLFDWRUHULVXOWLQRQFDOFRODELOHFRQLO0DUJLQH
PLQRUHGL]HURLOVRJJHWWRYLHQHGHILQLWRQRQFRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´5HVDRUDULDSHUDGGHWWRµVHLOYDORUHGHOO·LQGLFDWRUHqPLQRUHRXJXDOH
DOODVRJOLDPDVVLPDLQGLYLGXDWD1HOFDVRLQFXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµ
ULVXOWLSDULD]HURLOVRJJHWWRYLHQHGHILQLWRFRHUHQWH
,O VRJJHWWR ULVXOWD FRHUHQWH SHU O·LQGLFDWRUH ´9DORUH DJJLXQWR ORUGR SHU DGGHWWR LQ SUHVHQ]D GL VSHVH SHU
SUHVWD]LRQL GL ODYRURµ VH LO YDORUH GHOO·LQGLFDWRUH VL SRVL]LRQD DOO·LQWHUQR GHOO·LQWHUYDOOR LQGLYLGXDWR FRPH
HFRQRPLFDPHQWHFRHUHQWH1HOFDVRLQFXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµULVXOWL
SDULD]HURLOVRJJHWWRYLHQHGHILQLWRFRHUHQWH
,Q DSSOLFD]LRQH SHU RJQL VLQJROR VRJJHWWR L YDORUL VRJOLD GL FLDVFXQ LQGLFDWRUH GL FRHUHQ]D HFRQRPLFD VRQR
RWWHQXWLFRPHPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHLYDORULGLULIHULPHQWRLQGLYLGXDWL
SHU JUXSSR RPRJHQHR 3HU JOL LQGLFDWRUL ´0DUJLQH GHO SURIHVVLRQLVWD LQ DVVHQ]D GL VSHVH SHU SUHVWD]LRQL GL
ODYRUR GLSHQGHQWH R DVVLPLODWRµ ´9DORUH DJJLXQWR ORUGR SHU DGGHWWR LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL
ODYRURµH´0DUJLQHSHUDGGHWWRQRQGLSHQGHQWHLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURµWDOLYDORULVRJOLD
YHQJRQRSRQGHUDWLDQFKHVXOODEDVHGHOODSHUFHQWXDOHGLDSSDUWHQHQ]DDOOHGLYHUVHDUHHWHUULWRULDOL
/D SUHVHQ]D GL IRU]D ODYRUR q FRQGL]LRQDWD DOOD SUHVHQ]D GL 6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R 6SHVH SHU SUHVWD]LRQL GL
FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD R &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H
DUWLVWLFD
8Q LQGLFDWRUH VL GHILQLVFH QRQ FDOFRODELOH TXDQGR QHO UDSSRUWR QXPHUDWRUH GLYLVR GHQRPLQDWRUH LO GHQRPLQDWRUH q SDUL D ]HUR H LO
QXPHUDWRUHqGLYHUVRGD]HUR
8QLQGLFDWRUHVLGHILQLVFHLQGHWHUPLQDWRTXDQGRQHOUDSSRUWRQXPHUDWRUHGLYLVRGHQRPLQDWRUHLOQXPHUDWRUHHLOGHQRPLQDWRUHVRQR
HQWUDPELSDULD]HUR
— 99 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$1$/,6,'(//$1250$/,7­(&2120,&$
/·DQDOLVLGHOODQRUPDOLWjHFRQRPLFDqPLUDWDDGLQGLYLGXDUHODFRUUHWWH]]DGHLGDWLGLFKLDUDWL$WDOILQHSHURJQL
VLQJRORVRJJHWWRYHQJRQRFDOFRODWLLQGLFDWRULHFRQRPLFRFRQWDELOLGDFRQIURQWDUHFRQLYDORULGLULIHULPHQWRFKH
LQGLYLGXDQROHFRQGL]LRQLGLQRUPDOLWjHFRQRPLFD
*OL LQGLFDWRUL GL QRUPDOLWj HFRQRPLFD VRQR VWDWL SHUWDQWR VHOH]LRQDWL LQ EDVH DOOD ORUR FDSDFLWj GL LQGLYLGXDUH
DQRPDOLHQHOODUHOD]LRQHWUDOHYRFLHVDPLQDWH
*OLLQGLFDWRULGLQRUPDOLWjHFRQRPLFDLQGLYLGXDWLSHUO·DWWLYLWjGLODYRURDXWRQRPRVRQRLVHJXHQWL
•
•
,QFLGHQ]D GHJOL DPPRUWDPHQWL SHU EHQL VWUXPHQWDOL PRELOL ULVSHWWR DO YDORUH GHJOL VWHVVL EHQL
VWUXPHQWDOLPRELOLDPPRUWL]]DELOL
,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQHVXLFRPSHQVL
/HIRUPXOHGHJOLLQGLFDWRULXWLOL]]DWLVRQRULSRUWDWHQHO6XE$OOHJDWR&
*OLLQGLFDWRULGLQRUPDOLWjHFRQRPLFDLQGLYLGXDWLSHUO·DWWLYLWjGLLPSUHVDVRQRLVHJXHQWL
•
•
•
,QFLGHQ]D GHJOL DPPRUWDPHQWL SHU EHQL VWUXPHQWDOL PRELOL ULVSHWWR DO YDORUH GHJOL VWHVVL EHQL
VWUXPHQWDOLPRELOLDPPRUWL]]DELOL
,QFLGHQ]D GHL FRVWL SHU EHQL PRELOL DFTXLVLWL LQ GLSHQGHQ]D GL FRQWUDWWL GL ORFD]LRQH ILQDQ]LDULD
ULVSHWWRDOYDORUHGHJOLVWHVVL
,QFLGHQ]DGHLFRVWLUHVLGXDOLGLJHVWLRQHVXLULFDYL
/HIRUPXOHGHJOLLQGLFDWRULXWLOL]]DWLVRQRULSRUWDWHQHO6XE$OOHJDWR&
$LILQLGHOO·LQGLYLGXD]LRQHGHLYDORULGLULIHULPHQWRSHUJOLLQGLFDWRULGLQRUPDOLWjHFRQRPLFDVRQRVWDWHHVDPLQDWH
SUHOLPLQDUPHQWHOHUHODWLYH GLVWULEX]LRQLYHQWLOLFKHGLIIHUHQ]LDWHSHUJUXSSRRPRJHQHR,YDORULGHOOHVRJOLHGHL
GLYHUVL LQGLFDWRUL VRQR VWDWL LQGLYLGXDWL VFHJOLHQGR TXHOOL FKH SRVVRQR ULWHQHUVL HFRQRPLFDPHQWH SODXVLELOL FRQ
ULIHULPHQWRDOOHSUDWLFKHRVVHUYDELOLQHOVHWWRUHHQHOFOXVWHUVSHFLILFR
/HGLVWULEX]LRQLYHQWLOLFKHGHJOLLQGLFDWRULGLQRUPDOLWjHFRQRPLFDYHQJRQRULSRUWDWHQHO6XE$OOHJDWR)SHU
O·DWWLYLWjGLODYRURDXWRQRPRHQHO6XE$OOHJDWR)SHUO·DWWLYLWjGLLPSUHVD
,YDORULVRJOLDGLQRUPDOLWjHFRQRPLFDVRQRULSRUWDWLQHO6XE$OOHJDWR*SHUO·DWWLYLWjGLODYRURDXWRQRPRH
QHO6XE$OOHJDWR*SHUO·DWWLYLWjGLLPSUHVD
,Q DSSOLFD]LRQH SHU RJQL VLQJROR VRJJHWWR L YDORUL VRJOLD GL FLDVFXQ LQGLFDWRUH GL QRUPDOLWj HFRQRPLFD VRQR
RWWHQXWLFRPHPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHLYDORULGLULIHULPHQWRLQGLYLGXDWL
SHUJUXSSRRPRJHQHR
&LDVFXQRGLTXHVWLLQGLFDWRULQHOO·RUGLQHGLVHJXLWRULSRUWDWRSXzGHWHUPLQDUHPDJJLRULFRPSHQVLULFDYLFKHVL
VRPPDQR DO FRPSHQVRULFDYR SXQWXDOH H DO FRPSHQVRULFDYR PLQLPR VWLPDWL FRQ O·DQDOLVL GHOOD FRQJUXLWj
VXFFHVVLYDPHQWHGHVFULWWD
$WWLYLWjGLODYRURDXWRQRPR
,1&,'(1=$ '(*/, $00257$0(17, 3(5 %(1, 67580(17$/, 02%,/, 5,63(772 $/ 9$/25(
'(*/,67(66,%(1,67580(17$/,02%,/,$00257,==$%,/,
3HU RJQL FRQWULEXHQWH VL GHWHUPLQD LO YDORUH PDVVLPR DPPLVVLELOH SHU OD YDULDELOH ´$PPRUWDPHQWL SHU EHQL
PRELOL VWUXPHQWDOL DO QHWWR GHL EHQL GL FRVWR XQLWDULR QRQ VXSHULRUH D HXURµ PROWLSOLFDQGR OD VRJOLD
*OLLQGLFDWRULVRQRDUURWRQGDWLDOODVHFRQGDFLIUDGHFLPDOH
/·LQGLFDWRUHPLVXUDODSODXVLELOLWjWUDLOYDORUHGHLEHQLVWUXPHQWDOLPRELOLGLSURSULHWjDPPRUWL]]DELOLHLOYDORUHGHJOLDPPRUWDPHQWLGHL
EHQLVWUXPHQWDOLPRELOL
/·LQGLFDWRUHYHULILFDODSODXVLELOLWjWUDODYRFH´DOWUHFRPSRQHQWLQHJDWLYHµHGLOWRWDOHGHLFRPSHQVL1HOFDOFRORGHOOHDOWUHFRPSRQHQWL
QHJDWLYHQRQVLWLHQHFRQWRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLLPPRELOLHDEHQLVWUXPHQWDOLPRELOL
/·LQGLFDWRUHPLVXUDODSODXVLELOLWjWUDLOYDORUHGHLEHQLVWUXPHQWDOLPRELOLDFTXLVLWLLQGLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQHILQDQ]LDULDLQ
OHDVLQJHLFDQRQLGLOHDVLQJ
/·LQGLFDWRUH YHULILFD FKH OH YRFL GL FRVWR UHODWLYH DJOL RQHUL GLYHUVL GL JHVWLRQH H DOOH DOWUH FRPSRQHQWL QHJDWLYH FRVWLWXLVFDQR XQD
SODXVLELOHFRPSRQHQWHUHVLGXDOHGLFRVWR
/HYDULDELOLQXPHULFKHULIHULWHDGLPSRUWLLQHXURVRQRDUURWRQGDWHDOYDORUHLQWHUR
— 100 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
PDVVLPDGLQRUPDOLWjHFRQRPLFDGHOO·LQGLFDWRUHGLYLVDSHULO´9DORUHGHLEHQLVWUXPHQWDOLPRELOLLQSURSULHWj
DOQHWWRGHLEHQLGLFRVWRXQLWDULRQRQVXSHULRUHDHXURµ
1HOFDVRLQFXLLOYDORUHGLFKLDUDWRGHJOL´$PPRUWDPHQWLSHUEHQLPRELOLVWUXPHQWDOLDOQHWWRGHLEHQLGLFRVWR
XQLWDULRQRQVXSHULRUHDHXURµVLSRVL]LRQLDOGLVRSUDGLGHWWRYDORUHPDVVLPRDPPLVVLELOHFRQ´1XPHUR
GLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYHUVRGD]HURODSDUWHGHJOLDPPRUWDPHQWLHFFHGHQWHWDOH
YDORUH FRVWLWXLVFH SDUDPHWUR GL ULIHULPHQWR SHU OD GHWHUPLQD]LRQH GHL PDJJLRUL FRPSHQVL GD QRUPDOLWj
HFRQRPLFDFDOFRODWLPROWLSOLFDQGRWDOHSDUWHHFFHGHQWHSHULOUHODWLYRFRHIILFLHQWHSDULD
7DOH FRHIILFLHQWH q VWDWR FDOFRODWR VXOOD EDVH GHL GDWL GLFKLDUDWL GDL VRJJHWWL FKH KDQQR FRQWHPSRUDQHDPHQWH
YDORUL]]DWRODYDULDELOH´9DORUHGHLEHQLVWUXPHQWDOLPRELOLLQSURSULHWjµHODYDULDELOH´$PPRUWDPHQWLSHUEHQL
PRELOLVWUXPHQWDOLµ,QSDUWLFRODUHLOFRHIILFLHQWHqVWDWRLQGLYLGXDWRFRPHUDSSRUWRWUDODVRPPDGHLFRPSHQVL
SXQWXDOLFDOFRODWLDSSOLFDQGRDWDOLVRJJHWWLOHIXQ]LRQLGLFRPSHQVRFRQO·XWLOL]]RGHOODVRODYDULDELOH´9DORUHGHL
EHQLVWUXPHQWDOLPRELOLLQSURSULHWjµHODVRPPDGHJOL´$PPRUWDPHQWLSHUEHQLPRELOLVWUXPHQWDOLµ
,1&,'(1=$ '(//( $/75( &20321(17, 1(*$7,9( $/ 1(772 '(, &$121, ', /2&$=,21(
68,&203(16,
3HU RJQL FRQWULEXHQWH VL GHWHUPLQD LO YDORUH PDVVLPR DPPLVVLELOH SHU OD YDULDELOH ´$OWUH FRPSRQHQWL QHJDWLYH
QHWWHµ PROWLSOLFDQGR OD VRJOLD PDVVLPD GL QRUPDOLWj HFRQRPLFD GHOO·LQGLFDWRUH GLYLVD SHU L ´&RPSHQVL GD
FRQJUXLWjHGDQRUPDOLWjµ
1HOFDVRLQFXLLOYDORUHGLFKLDUDWRGHOOH´$OWUHFRPSRQHQWLQHJDWLYHQHWWHµVLSRVL]LRQLDOGLVRSUDGLGHWWRYDORUH
PDVVLPR DPPLVVLELOH OD SDUWH GL VSHVH HFFHGHQWH WDOH YDORUH FRVWLWXLVFH SDUDPHWUR GL ULIHULPHQWR SHU OD
GHWHUPLQD]LRQHGHLPDJJLRULFRPSHQVLGDQRUPDOLWjHFRQRPLFDFDOFRODWLPROWLSOLFDQGRWDOHSDUWHHFFHGHQWHSHULO
UHODWLYRFRHIILFLHQWH
7DOHFRHIILFLHQWHqVWDWRLQGLYLGXDWRGLVWLQWDPHQWHSHUJUXSSRRPRJHQHRFOXVWHUFRPHUDSSRUWRWUDODVRPPD
GHL FRPSHQVLSXQWXDOL FDOFRODWL DSSOLFDQGR D WXWWL L VRJJHWWL GHO FOXVWHU ODVSHFLILFD IXQ]LRQH GL FRPSHQVR FRQ
O·XWLOL]]RGHOOHVROHYDULDELOLFRQWDELOLGLVSHVDHODVRPPDGHOOHVWHVVHYDULDELOLFRQWDELOLGLVSHVDYHGLWDEHOOD
7DEHOOD²&RHIILFLHQWLGLGHWHUPLQD]LRQHGHLPDJJLRULFRPSHQVL
GDDSSOLFDUVLDOOHDOWUHFRPSRQHQWLQHJDWLYHQHWWH
&OXVWHU
&RHIILFLHQWH
,QDSSOLFD]LRQHSHURJQLFRQWULEXHQWHLOFRHIILFLHQWHGLGHWHUPLQD]LRQHGHLPDJJLRULFRPSHQVLqRWWHQXWRFRPH
PHGLD SRQGHUDWD FRQ OH UHODWLYH SUREDELOLWj GL DSSDUWHQHQ]D GHL FRHIILFLHQWL LQGLYLGXDWL SHU RJQL JUXSSR
RPRJHQHR
/DYDULDELOHqULGHWHUPLQDWDLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRGLLPSRVWDGLYLVR
&RPSHQVRSXQWXDOHGDDQDOLVLGHOODFRQJUXLWj0DJJLRUFRPSHQVRGDQRUPDOLWjHFRQRPLFD
UHODWLYR DOO·LQGLFDWRUH ´,QFLGHQ]D GHJOL DPPRUWDPHQWL SHU EHQL VWUXPHQWDOL PRELOL ULVSHWWR DO YDORUH GHJOL VWHVVL EHQL VWUXPHQWDOL PRELOL
DPPRUWL]]DELOLµ
&RPSHQVLGDFRQJUXLWjHGDQRUPDOLWj
— 101 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$WWLYLWjGLLPSUHVD
,1&,'(1=$ '(*/, $00257$0(17, 3(5 %(1, 67580(17$/, 02%,/, 5,63(772 $/ 9$/25(
'(*/,67(66,%(1,67580(17$/,02%,/,$00257,==$%,/,
3HU RJQL FRQWULEXHQWH VL GHWHUPLQD LO YDORUH PDVVLPR DPPLVVLELOH SHU OD YDULDELOH ´$PPRUWDPHQWL SHU EHQL
PRELOL VWUXPHQWDOL DO QHWWR GHL EHQL GL FRVWR XQLWDULR QRQ VXSHULRUH D HXURµ PROWLSOLFDQGR OD VRJOLD
PDVVLPDGLQRUPDOLWjHFRQRPLFDGHOO·LQGLFDWRUHGLYLVDSHULO´9DORUHGHLEHQLVWUXPHQWDOLPRELOLLQSURSULHWj
DOQHWWRGHLEHQLGLFRVWRXQLWDULRQRQVXSHULRUHDHXURµ
1HOFDVRLQFXLLOYDORUHGLFKLDUDWRGHJOL´$PPRUWDPHQWLSHUEHQLPRELOLVWUXPHQWDOLDOQHWWRGHLEHQLGLFRVWR
XQLWDULRQRQVXSHULRUHDHXURµVLSRVL]LRQLDOGLVRSUDGLGHWWRYDORUHPDVVLPRDPPLVVLELOHFRQ´1XPHUR
GLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYHUVRGD]HURODSDUWHGHJOLDPPRUWDPHQWLHFFHGHQWHWDOH
YDORUH FRVWLWXLVFH SDUDPHWUR GL ULIHULPHQWR SHU OD GHWHUPLQD]LRQH GHL PDJJLRUL ULFDYL GD QRUPDOLWj HFRQRPLFD
FDOFRODWLPROWLSOLFDQGRWDOHSDUWHHFFHGHQWHSHULOUHODWLYRFRHIILFLHQWHSDULD
7DOH FRHIILFLHQWH q VWDWR FDOFRODWR VXOOD EDVH GHL GDWL GLFKLDUDWL GDL VRJJHWWL FKH KDQQR FRQWHPSRUDQHDPHQWH
YDORUL]]DWRODYDULDELOH´9DORUHGHLEHQLVWUXPHQWDOLPRELOLLQSURSULHWjµHODYDULDELOH´$PPRUWDPHQWLSHUEHQL
PRELOL VWUXPHQWDOLµ ,Q SDUWLFRODUH LO FRHIILFLHQWH q VWDWR LQGLYLGXDWR FRPH UDSSRUWR WUD OD VRPPD GHL ULFDYL
SXQWXDOLFDOFRODWLDSSOLFDQGRDWDOLVRJJHWWLOHIXQ]LRQLGLULFDYRFRQO·XWLOL]]RGHOODVRODYDULDELOH´9DORUHGHLEHQL
VWUXPHQWDOLPRELOLLQSURSULHWjµHODVRPPDGHJOL´$PPRUWDPHQWLSHUEHQLPRELOLVWUXPHQWDOLµ
,1&,'(1=$ '(, &267, 3(5 %(1, 02%,/, $&48,6,7, ,1 ',3(1'(1=$ ', &2175$77, ',
/2&$=,21(),1$1=,$5,$5,63(772$/9$/25('(*/,67(66,
3HU RJQL FRQWULEXHQWH VL GHWHUPLQD LO YDORUH PDVVLPR DPPLVVLELOH SHU OD YDULDELOH ´&DQRQL SHU EHQL PRELOL
DFTXLVLWLLQGLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQHILQDQ]LDULDDGHVFOXVLRQHGHLFDQRQLILVFDOPHQWHGHGXFLELOLROWUHLO
SHULRGRGLGXUDWDGHOFRQWUDWWRµPROWLSOLFDQGRODVRJOLDPDVVLPDGLQRUPDOLWjHFRQRPLFDGHOO·LQGLFDWRUHGLYLVD
SHU LO ´9DORUH GHL EHQL VWUXPHQWDOL PRELOL UHODWLYRD EHQL DFTXLVLWL LQ GLSHQGHQ]D GL FRQWUDWWL GL ORFD]LRQH
ILQDQ]LDULDµ
1HOFDVRLQFXLLOYDORUHGLFKLDUDWRGHL´&DQRQLSHUEHQLPRELOLDFTXLVLWLLQGLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQH
ILQDQ]LDULDDGHVFOXVLRQHGHLFDQRQLILVFDOPHQWHGHGXFLELOLROWUHLOSHULRGRGLGXUDWDGHOFRQWUDWWRµVLSRVL]LRQLDO
GLVRSUDGLGHWWRYDORUHPDVVLPRDPPLVVLELOHFRQ´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµ
GLYHUVR GD ]HUR OD SDUWH GHL FDQRQL HFFHGHQWH WDOH YDORUH FRVWLWXLVFH SDUDPHWUR GL ULIHULPHQWR SHU OD
GHWHUPLQD]LRQH GHL PDJJLRUL ULFDYL GD QRUPDOLWj HFRQRPLFD FDOFRODWL PROWLSOLFDQGR WDOH SDUWH HFFHGHQWH SHU LO
UHODWLYRFRHIILFLHQWHSDULD
7DOH FRHIILFLHQWH q VWDWR FDOFRODWR VXOOD EDVH GHL GDWL GLFKLDUDWL GDL VRJJHWWL FKH KDQQR FRQWHPSRUDQHDPHQWH
YDORUL]]DWRODYDULDELOH´9DORUHGHLEHQLVWUXPHQWDOLPRELOLUHODWLYRDEHQLDFTXLVLWLLQGLSHQGHQ]DGLFRQWUDWWLGL
ORFD]LRQH ILQDQ]LDULDµ H OD YDULDELOH ´&DQRQL SHU EHQL PRELOL DFTXLVLWL LQ GLSHQGHQ]D GL FRQWUDWWL GL ORFD]LRQH
ILQDQ]LDULDDGHVFOXVLRQHGHLFDQRQLILVFDOPHQWHGHGXFLELOLROWUHLOSHULRGRGLGXUDWDGHOFRQWUDWWRµ,QSDUWLFRODUH
LO FRHIILFLHQWH q VWDWR LQGLYLGXDWR FRPH UDSSRUWR WUD OD VRPPD GHL ULFDYL SXQWXDOL FDOFRODWL DSSOLFDQGR D WDOL
VRJJHWWLOHIXQ]LRQLGLULFDYRFRQO·XWLOL]]RGHOODVRODYDULDELOH´9DORUHGHLEHQLVWUXPHQWDOLPRELOLUHODWLYRDEHQL
DFTXLVLWLLQGLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQHILQDQ]LDULDµHODVRPPDGHL´&DQRQLSHUEHQLPRELOLDFTXLVLWLLQ
GLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQHILQDQ]LDULDDGHVFOXVLRQHGHLFDQRQLILVFDOPHQWHGHGXFLELOLROWUHLOSHULRGRGL
GXUDWDGHOFRQWUDWWRµ
,1&,'(1=$'(,&267,5(6,'8$/,',*(67,21(68,5,&$9,
3HURJQLFRQWULEXHQWHVLGHWHUPLQDLOYDORUHPDVVLPRDPPLVVLELOHSHUODYDULDELOH´&RVWLUHVLGXDOLGLJHVWLRQHµ
PROWLSOLFDQGRODVRJOLDPDVVLPDGLQRUPDOLWjHFRQRPLFDGHOO·LQGLFDWRUHGLYLVDSHUL´5LFDYLGDFRQJUXLWjHGD
QRUPDOLWjµ
1HO FDVR LQ FXL LO YDORUH GLFKLDUDWR GHL ´&RVWL UHVLGXDOL GL JHVWLRQHµ VL SRVL]LRQL DO GL VRSUD GL GHWWR YDORUH
PDVVLPR DPPLVVLELOH OD SDUWH GL FRVWL HFFHGHQWH WDOH YDORUH FRVWLWXLVFH SDUDPHWUR GL ULIHULPHQWR SHU OD
/DYDULDELOHqULGHWHUPLQDWDLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
5LFDYR SXQWXDOH GD DQDOLVL GHOOD FRQJUXLWj 0DJJLRUH ULFDYR GD QRUPDOLWj HFRQRPLFD UHODWLYR
DOO·LQGLFDWRUH ´,QFLGHQ]D GHJOL DPPRUWDPHQWL SHU EHQL VWUXPHQWDOL PRELOL ULVSHWWR DO YDORUH GHJOL VWHVVL EHQL VWUXPHQWDOL PRELOL
DPPRUWL]]DELOLµ 0DJJLRUH ULFDYR GD QRUPDOLWj HFRQRPLFD UHODWLYR DOO·LQGLFDWRUH ´,QFLGHQ]D GHL FRVWL SHU EHQL PRELOL DFTXLVLWL LQ
GLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQHILQDQ]LDULDULVSHWWRDOYDORUHGHJOLVWHVVLµ
5LFDYL GD FRQJUXLWj H GD QRUPDOLWj
— 102 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
GHWHUPLQD]LRQH GHL PDJJLRUL ULFDYL GD QRUPDOLWj HFRQRPLFD FDOFRODWL PROWLSOLFDQGR WDOH SDUWH HFFHGHQWH SHU LO
UHODWLYRFRHIILFLHQWH
7DOHFRHIILFLHQWHqVWDWRLQGLYLGXDWRGLVWLQWDPHQWHSHUJUXSSRRPRJHQHRFOXVWHUFRPHUDSSRUWRWUDODVRPPD
GHLULFDYLSXQWXDOLFDOFRODWLDSSOLFDQGRDWXWWLLVRJJHWWLGHOFOXVWHUODVSHFLILFDIXQ]LRQHGLULFDYRFRQO·XWLOL]]R
GHOOHVROHYDULDELOLFRQWDELOLGLFRVWRHODVRPPDGHOOHVWHVVHYDULDELOLFRQWDELOLGLFRVWRYHGLWDEHOOD
7DEHOOD&RHIILFLHQWLGLGHWHUPLQD]LRQHGHLPDJJLRULULFDYLGDDSSOLFDUVLDLFRVWLUHVLGXDOLGLJHVWLRQH
&OXVWHU
&RHIILFLHQWH
,Q DSSOLFD]LRQH SHU RJQL FRQWULEXHQWH LO FRHIILFLHQWH GL GHWHUPLQD]LRQH GHL PDJJLRUL ULFDYL q RWWHQXWR FRPH
PHGLD SRQGHUDWD FRQ OH UHODWLYH SUREDELOLWj GL DSSDUWHQHQ]D GHL FRHIILFLHQWL LQGLYLGXDWL SHU RJQL JUXSSR
RPRJHQHR
$1$/,6,'(//$&21*58,7­
3HUFLDVFXQFRQWULEXHQWHYLHQHFDOFRODWRSHURJQLJUXSSRRPRJHQHRLO´FRPSHQVRULFDYRSXQWXDOHGLFOXVWHUµ
FRPHVRPPDGHLSURGRWWLIUDOHYDULDELOLLQGLYLGXDWHDLILQLGHOODGHILQL]LRQHGHOODIXQ]LRQHGLFRPSHQVRULFDYR
HGLUHODWLYLFRHIILFLHQWL
3HU WHQHU FRQWRGHOOD YDULDELOLWj OHJDWD DOOD VWLPD GHO FRPSHQVRULFDYR SXQWXDOH GHO VLQJROR FRQWULEXHQWH YLHQH
FDOFRODWRSHURJQLJUXSSRRPRJHQHRO·LQWHUYDOORGLFRQILGHQ]DDOOLYHOORGHO,OOLPLWHLQIHULRUHGLWDOH
LQWHUYDOORGLFRQILGHQ]DFRVWLWXLVFHLO´FRPSHQVRULFDYRPLQLPRGLFOXVWHUµ
1HOOD WHUPLQRORJLD VWDWLVWLFD SHU ´LQWHUYDOOR GL FRQILGHQ]Dµ VL LQWHQGH XQ LQWHUYDOOR FHQWUDWR VXO FRPSHQVRULFDYR SXQWXDOH y
ˆ H
GHOLPLWDWR GD GXH HVWUHPL XQR LQIHULRUH H O·DOWUR VXSHULRUH FKH LQFOXGH FRQ XQ OLYHOOR GL SUREDELOLWj SUHILVVDWR LO YDORUH DWWHVR GHO
FRPSHQVRULFDYRGHOFRQWULEXHQWH
,O OLYHOOR GL SUREDELOLWj SUHILVVDWR R OLYHOOR GL ILGXFLD YLHQH JHQHUDOPHQWH LQGLFDWR FRQ OD QRWD]LRQH ´ ơµ GRYH ơ UDSSUHVHQWD OD
SUREDELOLWjFKHO·LQWHUYDOORGLFRQILGHQ]DQRQFRQWHQJDLOYDORUHDWWHVRGHOFRPSHQVRULFDYRGHOFRQWULEXHQWH3HUXQOLYHOORGLILGXFLDSDUL
DOLOYDORUHFRUULVSRQGHQWHGLơqSDULD
,QGLFDQGRFRQ y
ˆ LO´FRPSHQVRULFDYRSXQWXDOHGLFOXVWHUµGHOJHQHULFRFRQWULEXHQWHLOFRUULVSRQGHQWH´FRPSHQVRULFDYRPLQLPRGL
FOXVWHUµqRWWHQXWRDWWUDYHUVRODVHJXHQWHIRUPXOD
yˆ - 3,92 * s
x 'C x GRYH
• C q OD PDWULFH LQYHUVD GHOOD PDWULFH GDWD GDOOH VRPPH GHL TXDGUDWL H GHL SURGRWWL LQFURFLDWL GHOOH YDULDELOL LQGLSHQGHQWL
RSSRUWXQDPHQWHSHVDWHSHUFRQWUROODUHO·HYHQWXDOHSUHVHQ]DGLHWHURVFKHGDVWLFLWj
• s qODUDGLFHTXDGUDWDGHO0HDQ6TXDUH(UURU506(
• x qLOYHWWRUHGHOOHYDULDELOLLQGLSHQGHQWLRVVHUYDWHSHULOJHQHULFRFRQWULEXHQWH
• qLOYDORUHGLULIHULPHQWRDOOLYHOORGLSUREDELOLWjSUHVFHOWRGHOODGLVWULEX]LRQHWGL6WXGHQWFKHDVLQWRWLFDPHQWHDSSURVVLPDXQD
GLVWULEX]LRQHQRUPDOHVWDQGDUGL]]DWD
,YDORULUHODWLYLDOODPDWULFH´ C µHDOYDORUHGHO´506(µGLFLDVFXQFOXVWHUYHQJRQRULSRUWDWLQHOO·$OOHJDWR
— 103 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
/DPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHL´FRPSHQVLULFDYLSXQWXDOLGLFOXVWHUµGHILQLWL
SHU LO FRQWULEXHQWH LQ UHOD]LRQH D FLDVFXQ JUXSSR RPRJHQHR FRVWLWXLVFH LO ´FRPSHQVRULFDYR SXQWXDOHµ GHO
FRQWULEXHQWH
/DPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHL´FRPSHQVLULFDYLPLQLPLGLFOXVWHUµGHILQLWL
SHU LO FRQWULEXHQWH LQ UHOD]LRQH D FLDVFXQ JUXSSR RPRJHQHR FRVWLWXLVFH LO ´FRPSHQVRULFDYR PLQLPRµ GHO
FRQWULEXHQWH
$O FRPSHQVRULFDYR SXQWXDOH H DO FRPSHQVRULFDYR PLQLPR VWLPDWL FRQ O·DQDOLVL GHOOD FRQJUXLWj YHQJRQR
DJJLXQWLJOLHYHQWXDOLPDJJLRULFRPSHQVLULFDYLGHULYDQWLGDOO·DSSOLFD]LRQHGHOO·DQDOLVLGHOODQRUPDOLWjHFRQRPLFD
1HOO·$OOHJDWRYHQJRQRULSRUWDWHSHUO·DWWLYLWjGLLPSUHVDOHPRGDOLWjGLDSSOLFD]LRQHGHOFRUUHWWLYRUHODWLYRDJOL
DSSUHQGLVWL
1HOO·$OOHJDWR YHQJRQR ULSRUWDWH SHU O·DWWLYLWjGL LPSUHVD OH PRGDOLWj GL QHXWUDOL]]D]LRQH GHOOH YDULDELOL SHU OD
FRPSRQHQWHUHODWLYDDOO·DWWLYLWjGLYHQGLWDGLEHQLVRJJHWWLDGDJJLRRULFDYRILVVR
1HO6XE$OOHJDWR+YHQJRQRULSRUWDWHOHYDULDELOLHGLULVSHWWLYLFRHIILFLHQWLGHOOH´IXQ]LRQLGLFRPSHQVRµSHU
O·DWWLYLWjGLODYRURDXWRQRPRQHO6XE$OOHJDWR+YHQJRQRULSRUWDWHOHYDULDELOLHGLULVSHWWLYLFRHIILFLHQWLGHOOH
´IXQ]LRQLGLULFDYRµSHUO·DWWLYLWjGLLPSUHVD
/HYDULDELOLQXPHULFKHULIHULWHDGLPSRUWLLQHXURVRQRDUURWRQGDWHDOYDORUHLQWHUR
— 104 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$7,
68%$//(*$72$²'(6&5,=,21('(,*5833,202*(1(,
,JUXSSLRPRJHQHLVRQRVWDWLLQGLYLGXDWLVXOODEDVHGHLVHJXHQWLIDWWRUL
-
ULOHYDQ]DGHOFRPPLWWHQWHSULQFLSDOH
-
WLSRORJLDGHOO·DWWLYLWj
-
DUHDVSHFLDOLVWLFD
/D ULOHYDQ]D GHO FRPPLWWHQWH SULQFLSDOH KD FRQVHQWLWR GL GLVWLQJXHUH L FRQWULEXHQWL FKH RSHUDQR LQ ODUJD
SUHYDOHQ]DSHULOFRPPLWWHQWHSULQFLSDOHFOXVWHUGDTXHOOLFKHRULJLQDQRFRPSHQVLULFDYLGDXQYHQWDJOLRSL
DPSLRGLFOLHQWLFOXVWHU
/D WLSRORJLD GHOO·DWWLYLWj KD SHUPHVVR GL LGHQWLILFDUH L FRQWULEXHQWL FKH VL RFFXSDQR SUHYDOHQWHPHQWH
GHOO·HVHFX]LRQHGLLOOXVWUD]LRQLER]]HWWLHIXPHWWLFOXVWHU
/·DUHDVSHFLDOLVWLFDKDFRQVHQWLWRGLHQXFOHDUHTXHLFRQWULEXHQWLVSHFLDOL]]DWLQHOOHDUHHPHFFDQLFDFOXVWHU
HGLOL]LD FOXVWHU SXEEOLFLWj PXOWLPHGLD HR HGLWRULD FOXVWHU LPSLDQWLVWLFD FOXVWHU DUUHGDPHQWR HR
FRPSOHPHQWLSHUO·DUUHGDPHQWRFOXVWHU
,FRQWULEXHQWLGHOSUHVHQWHVWXGLRSRVVRQRHVHUFLWDUHDWWLYLWjGLODYRURDXWRQRPRRG·LPSUHVD
1HOOH VXFFHVVLYH GHVFUL]LRQL GHL FOXVWHU HPHUVL GDOO·DQDOLVL VDOYR VHJQDOD]LRQH FRQWUDULD O·LQGLFD]LRQH GL YDORUL
QXPHULFLULJXDUGDYDORULPHGL
&/867(5&2175,%8(17,&+(23(5$1235(9$/(17(0(17(3(5,/&200,77(17(35,1&,3$/(
180(526,7­
,O FOXVWHU ULXQLVFH FRQWULEXHQWL FKH VL ULYROJRQR LQ ODUJD SUHYDOHQ]D DO FRPPLWWHQWH SULQFLSDOH GHL
FRPSHQVLULFDYL
'D VHJQDODUH D WDO SURSRVLWR FKH OD FRPPLWWHQ]D q UDSSUHVHQWDWDVRSUDWWXWWR GD ´VRFLHWj GL FDSLWDOL H DOWUL HQWL
SULYDWLFRPPHUFLDOLHQRQµHVWXGLWHFQLFLDUFKLWHWWLGLVHJQDWRULLQJHJQHULHFF
3HUTXDQWRDWWLHQHODWLSRORJLDGLDWWLYLWjVYROWDVLRVVHUYDSULQFLSDOPHQWHO·HVHFX]LRQHGLGLVHJQLWHFQLFL&$'
HFFFKHqIRQWHGHOO·GHLFRPSHQVLULFDYLSHULOGHLVRJJHWWLVHJXLWDGDOO·HVHFX]LRQHGLSURJHWWLJUDILFL
GHLFRPSHQVLULFDYLSHULOGHLVRJJHWWLHGDOODSURJHWWD]LRQHJUDILFDSHULO
,O GHL FRPSRQHQWL LO FOXVWHU q UDSSUHVHQWDWR GD ODYRUDWRUL DXWRQRPL FKH RSHUDQR TXDVL HVFOXVLYDPHQWH D
WLWRORLQGLYLGXDOHHVRORLQDOFXQLFDVLVLDYYDOJRQRGLSHUVRQDOHGLSHQGHQWH
/H LPSUHVH GHO FOXVWHU VL DYYDOJRQR GL DGGHWWL QHO GHL FDVL VL ULVFRQWUD OD SUHVHQ]D GL SHUVRQDOH
GLSHQGHQWH
&/867(5&2175,%8(17,&+(23(5$123(581$3/85$/,7­',&200,77(17,
180(526,7­
,O FOXVWHU ULXQLVFH FRQWULEXHQWL FKH RSHUDQR SHU XQD SOXUDOLWj GL FRPPLWWHQWL H FKH JHQHUDOPHQWH QRQ VRQR
VSHFLDOL]]DWLQHOOHDUHHPHFFDQLFDHGLOL]LDLPSLDQWLVWLFDSXEEOLFLWjPXOWLPHGLDHRHGLWRULDHDUUHGDPHQWRHR
FRPSOHPHQWLSHUO·DUUHGDPHQWRROWUHDQRQRFFXSDUVLSUHYDOHQWHPHQWHGHOO·HVHFX]LRQHGLLOOXVWUD]LRQLER]]HWWLH
IXPHWWL
7UDOHDWWLYLWjVYROWHVLVHJQDODODSURJHWWD]LRQHJUDILFDGDOODTXDOHLOGHLFRQWULEXHQWLGHOFOXVWHURULJLQDLO
GHLSURSULFRPSHQVLULFDYLVHJXRQRO·HVHFX]LRQHGLSURJHWWLJUDILFLIRQWHGHOGHLFRPSHQVLULFDYLSHU
LOGHLVRJJHWWLHO·HVHFX]LRQHGLGLVHJQLWHFQLFL&$'HFFDWWLYLWjGDFXLLOGHLVRJJHWWLRWWLHQHLO
GHLFRPSHQVLULFDYL
— 105 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
/D FOLHQWHOD q FRVWLWXLWD VRSUDWWXWWR GD ´VRFLHWj GL FDSLWDOL H DOWUL HQWL SULYDWL FRPPHUFLDOL H QRQµ GHL
FRPSHQVLULFDYLSHULOGHLVRJJHWWLLPSUHQGLWRULLQGLYLGXDOLHVRFLHWD
GLSHUVRQHSHULOSULYDWL
SHU LO 6L VHJQDOD DQFKH FKH XQ TXLQWR FLUFD GHL FRQWULEXHQWL GHO FOXVWHU RWWLHQH LO GHL
FRPSHQVLULFDYLGDVWXGLWHFQLFLDUFKLWHWWLGLVHJQDWRULLQJHJQHULHFF
6L WUDWWD LQ PDJJLRUDQ]D GL LPSUHVH GHO WRWDOH FKH RSHUDQR LPSLHJDQGR DGGHWWL 'D VHJQDODUH FKH QHO
GHLFDVLVLULVFRQWUDODSUHVHQ]DGLSHUVRQDOHGLSHQGHQWH
, ODYRUDWRUL DXWRQRPL RSHUDQR TXDVL HVFOXVLYDPHQWH D WLWROR LQGLYLGXDOH H VROR LQ DOFXQL FDVL VL DYYDOJRQR
GHOO·DXVLOLRGLSHUVRQDOHGLSHQGHQWH
&/867(5 &2175,%8(17, 63(&,$/,==$7, 1(//·$5($ 0(&&$1,&$ &+( 23(5$12 3(5 81$
3/85$/,7­',&200,77(17,
180(526,7­
4XHVWR FOXVWHU q IRUPDWR GD FRQWULEXHQWL VSHFLDOL]]DWL QHOO·DUHD PHFFDQLFD GHL FRPSHQVLULFDYL FKH
RSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
7UDOHDWWLYLWjVYROWHVLVHJQDODQRO·HVHFX]LRQHGLGLVHJQLWHFQLFL&$'HFFGDFXLLOGHLVRJJHWWLRWWLHQHLO
GHLFRPSHQVLULFDYLHODSURJHWWD]LRQHLQGXVWULDOHGDOODTXDOHLOGHLFRQWULEXHQWLGHOFOXVWHURULJLQDLO
GHLSURSULFRPSHQVLULFDYL
/D FOLHQWHOD GL ULIHULPHQWR q FRVWLWXLWD GD ´VRFLHWj GL FDSLWDOL H DOWUL HQWL SULYDWL FRPPHUFLDOL H QRQµ GHL
FRPSHQVLULFDYL'DHYLGHQ]LDUHDQFKHFKHLOGHLVRJJHWWLGHOFOXVWHUGHULYDLOGHLFRPSHQVLULFDYLGD
LPSUHQGLWRULLQGLYLGXDOLHVRFLHWjGLSHUVRQH
,VRJJHWWLRUJDQL]]DWLLQIRUPDGLLPSUHVDGHOWRWDOHVLDYYDOJRQRGLDGGHWWL'DVHJQDODUHODSUHVHQ]DGL
SHUVRQDOHGLSHQGHQWHQHOGHLFDVL
,ODYRUDWRULDXWRQRPLFKHLQODUJDSUHYDOHQ]DRSHUDQRDWLWRORLQGLYLGXDOHVLDYYDOJRQRUDUDPHQWHGLSHUVRQDOH
GLSHQGHQWH
&/867(5 ² &2175,%8(17,63(&,$/,==$7,1(//·$5($(',/,=,$&+(23(5$123(581$3/85$/,7­
',&200,77(17,
180(526,7­
,VRJJHWWLDSSDUWHQHQWLDOFOXVWHUFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWLVRQRVSHFLDOL]]DWLLQHGLOL]LDDUHD
GDOODTXDOHGHULYDLOGHLFRPSHQVLULFDYL
/·DWWLYLWj VYROWD LQ SUHYDOHQ]D q O·HVHFX]LRQH GL GLVHJQL WHFQLFL &$' HFF GDOOD TXDOH L GXH WHU]L GHL VRJJHWWL
RULJLQDQR LO GHL FRPSHQVLULFDYL 6L VHJQDODQR DQFKH O·HVHFX]LRQH GL SURJHWWL JUDILFL IRQWH GHO GHL
FRPSHQVLULFDYL SHU LO GHL VRJJHWWL H OD SURJHWWD]LRQH JUDILFD DWWLYLWj GDOOD TXDOH LO GHL FRQWULEXHQWL
RWWLHQHLOGHLFRPSHQVLULFDYL
/D FOLHQWHOD q FRVWLWXLWD SULQFLSDOPHQWH GD VWXGL WHFQLFL DUFKLWHWWL GLVHJQDWRUL LQJHJQHUL HFF GDL TXDOL L
FRPSRQHQWL LO FOXVWHU RWWHQJRQR LO GHL FRPSHQVLULFDYL H GD ´VRFLHWj GL FDSLWDOL H DOWUL HQWL SULYDWL
FRPPHUFLDOL H QRQµ GHL FRPSHQVLULFDYL SHU LO GHL VRJJHWWL 'D VHJQDODUH DQFKH FKH LO GHL
FRQWULEXHQWLGLWDOHFOXVWHURWWLHQHLOGHLSURSULFRPSHQVLULFDYLGDSULYDWLHFKHLOGHLVRJJHWWLGHULYDXQ
WHU]RFLUFDGHLSURSULFRPSHQVLULFDYLGDLPSUHQGLWRULLQGLYLGXDOLHVRFLHWjGLSHUVRQH
/DPDJJLRUDQ]DGHLVRJJHWWLGHOWRWDOHqUDSSUHVHQWDWDGDODYRUDWRULDXWRQRPLRSHUDQWLSHUODTXDVLWRWDOLWj
DWLWRORLQGLYLGXDOH6RORLQDOFXQLFDVLWDOLVRJJHWWLVLDYYDOJRQRGLSHUVRQDOHGLSHQGHQWH
, VRJJHWWL RUJDQL]]DWL VRWWR IRUPD GL LPSUHVD HVHUFLWDQR O·DWWLYLWj FRQ O·DXVLOLR GL DGGHWWL ,O GL WDOL
FRQWULEXHQWLVLDYYDOHGLSHUVRQDOHGLSHQGHQWH
&/867(5 ² &2175,%8(17, &+( 23(5$12 35(9$/(17(0(17( 1(//·$0%,72 '(//( $5((
63(&,$/,67,&+( 38%%/,&,7­ 08/7,0(',$ (2 (',725,$ ( 6, 5,92/*212 $' 81$
3/85$/,7­',&200,77(17,
180(526,7­
,FRQWULEXHQWLGHOFOXVWHUFKHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWLRSHUDQRSULQFLSDOPHQWHQHOO·DPELWR
GHOOH DUHH VSHFLDOLVWLFKH SXEEOLFLWj PXOWLPHGLD HR HGLWRULD GDOOH TXDOL RWWHQJRQR LO GHL SURSUL
FRPSHQVLULFDYL
— 106 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&RHUHQWHPHQWHFRQOHDUHHVSHFLDOLVWLFKHGLULIHULPHQWRLFRQWULEXHQWLGHOFOXVWHUVLGHGLFDQRSUHYDOHQWHPHQWHDOOD
SURJHWWD]LRQHJUDILFDIRQWHGHOGHLFRPSHQVLULFDYLHGDOO·HVHFX]LRQHGLSURJHWWLJUDILFL
/D FOLHQWHOD q IRUPDWD SULQFLSDOPHQWH GD ´VRFLHWj GL FDSLWDOL H DOWUL HQWL SULYDWL FRPPHUFLDOL H QRQµ GHL
FRPSHQVLULFDYL HG LPSUHQGLWRUL LQGLYLGXDOL H VRFLHWj GL SHUVRQH 'D VHJQDODUH FKH XQ TXLQWR GHL
FRPSRQHQWLLOFOXVWHUULFHYHFLUFDXQTXDUWRGHLFRPSHQVLULFDYLGD´DOWULHVHUFHQWLDUWLHSURIHVVLRQLµHFKHLO
GHLFRQWULEXHQWLGHOFOXVWHUGHULYDLOGHLFRPSHQVLULFDYLGDSULYDWL
/DPDJJLRUDQ]DGHLVRJJHWWLGHOFOXVWHUGHOWRWDOHqUDSSUHVHQWDWDGDLPSUHVHFKHVLDYYDOJRQRGLDGGHWWL
1HOGHLFDVLVLULVFRQWUDODSUHVHQ]DGLSHUVRQDOHGLSHQGHQWH
, FRQWULEXHQWL RSHUDQWL LQ IRUPD GL ODYRUR DXWRQRPR VL GLVWLQJXRQR SHU HVHUFLWDUH LQ ODUJD SUHYDOHQ]D D WLWROR
LQGLYLGXDOHHUDUDPHQWHVLDYYDOJRQRGLSHUVRQDOHGLSHQGHQWH
&/867(5 ² &2175,%8(17, 63(&,$/,==$7, 1(//·$5($ ,03,$17,67,&$ &+( 23(5$12 3(5 81$
3/85$/,7­',&200,77(17,
180(526,7­
4XHVWR FOXVWHU q IRUPDWR GD FRQWULEXHQWL VSHFLDOL]]DWL QHOO·DUHD LPSLDQWLVWLFD GHL FRPSHQVLULFDYL FKH
RSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
7UDOHDWWLYLWjVYROWHVLVHJQDODQRO·HVHFX]LRQHGLGLVHJQLWHFQLFL&$'HFFGDFXLLOGHLVRJJHWWLRWWLHQH
O·GHLFRPSHQVLULFDYLHODSURJHWWD]LRQHLQGXVWULDOHGDOODTXDOHLOGHLFRQWULEXHQWLGHOFOXVWHURULJLQDLO
GHLSURSULFRPSHQVLULFDYL
/D FOLHQWHOD GL ULIHULPHQWR q FRVWLWXLWD GD ´VRFLHWj GL FDSLWDOL H DOWUL HQWL SULYDWL FRPPHUFLDOL H QRQµ GHL
FRPSHQVLULFDYL'DHYLGHQ]LDUHDQFKHFKHLOGHLVRJJHWWLGHOFOXVWHUGHULYDLOGHLFRPSHQVLULFDYLGD
LPSUHQGLWRULLQGLYLGXDOLHVRFLHWjGLSHUVRQHHFKHLOGHLFRQWULEXHQWLRWWLHQHLOGHLFRPSHQVLULFDYLGD
VWXGLWHFQLFLDUFKLWHWWLGLVHJQDWRULLQJHJQHULHFF
,VRJJHWWLRUJDQL]]DWLLQIRUPDGLLPSUHVDGHOWRWDOHVLDYYDOJRQRGLDGGHWWL'DVHJQDODUHFKHODPHWj
GHOOHLPSUHVHLPSLHJDSHUVRQDOHGLSHQGHQWH
, ODYRUDWRUL DXWRQRPL RSHUDQR LQ ODUJD SUHYDOHQ]D D WLWROR LQGLYLGXDOH H VROR LQ DOFXQL FDVL VL DYYDOJRQR GL
SHUVRQDOHGLSHQGHQWH
&/867(5 ² &2175,%8(17, &+( 6, 2&&83$12 35(9$/(17(0(17( '(//·(6(&8=,21( ',
,//8675$=,21, %2==(77, ( )80(77, ( 23(5$12 3(5 81$ 3/85$/,7­ ',
&200,77(17,
180(526,7­
, FRQWULEXHQWL GHO FOXVWHU FKH IDQQR ULIHULPHQWR DG XQD SOXUDOLWj GL FRPPLWWHQWL VL RFFXSDQRSUHYDOHQWHPHQWH
GHOO·HVHFX]LRQHGLLOOXVWUD]LRQLER]]HWWLHIXPHWWLRWWHQHQGRQHO·GHLSURSULFRPSHQVLULFDYL
/D FOLHQWHOD q IRUPDWD SULQFLSDOPHQWH GD ´VRFLHWj GL FDSLWDOL H DOWUL HQWL SULYDWL FRPPHUFLDOL H QRQµ GHL
FRPSHQVLULFDYL'DVHJQDODUHFKHLOGHLVRJJHWWLGHOFOXVWHUVLULYROJHDGLPSUHQGLWRULLQGLYLGXDOLHVRFLHWj
GLSHUVRQHGDFXLRULJLQDLOGHLFRPSHQVLULFDYL
/HDUHHVSHFLDOLVWLFKHGLULIHULPHQWRVRQRTXHOOHGHOODSXEEOLFLWjIRQWHGHOGHLFRPSHQVLULFDYLSHULO
GHL VRJJHWWL H GHOO·HGLWRULD SHU LO 'D VHJQDODUH DQFKH FKH LO GHL VRJJHWWL RSHUD QHOO·DUHD
VSHFLDOLVWLFD PXOWLPHGLD ZHE GHVLJQ JUDILFD GLJLWDOH H PXOWLPHGLDOH HFF GHULYDQGRQH LO GHL
FRPSHQVLULFDYL
6LWUDWWDLQPDJJLRUDQ]DGLODYRUDWRULDXWRQRPLGHOWRWDOHFKHRSHUDQRSUHYDOHQWHPHQWHDWLWRORLQGLYLGXDOH
HFKHVRORLQDOFXQLFDVLVLDYYDOJRQRGLSHUVRQDOHGLSHQGHQWH
,QTXHVWRFOXVWHULVRJJHWWLRUJDQL]]DWLVRWWRIRUPDGLLPSUHVDRSHUDQRDYYDOHQGRVLGLDGGHWWLQHOGHLFDVL
VLULVFRQWUDODSUHVHQ]DGLSHUVRQDOHGLSHQGHQWH
— 107 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&/867(5 ² &2175,%8(17, &+( 23(5$12 35(9$/(17(0(17( 1(//·$0%,72 '(//( $5((
63(&,$/,67,&+( $55('$0(172 (2 &203/(0(17, 3(5 /·$55('$0(172 ( 6,
5,92/*212$'81$3/85$/,7­',&200,77(17,
180(526,7­
4XHVWR FOXVWHU q IRUPDWR GD FRQWULEXHQWL FKH VL ULYROJRQR DG XQD SOXUDOLWj GL FRPPLWWHQWL HG RSHUDQR
SUHYDOHQWHPHQWH QHOO·DPELWR GHOOH DUHH VSHFLDOLVWLFKH DUUHGDPHQWR HR FRPSOHPHQWL SHU O·DUUHGDPHQWR IRQWH
GHOO·GHLFRPSHQVLULFDYL
7UDOHDWWLYLWjVYROWHVLVHJQDODO·HVHFX]LRQHGLGLVHJQLWHFQLFL&$'HFFGDOODTXDOHLOGHLFRQWULEXHQWLGHO
FOXVWHU RULJLQD LO GHL FRPSHQVLULFDYL VHJXRQR O·HVHFX]LRQH GL SURJHWWL JUDILFL IRQWH GHO GHL
FRPSHQVLULFDYLSHULOGHLVRJJHWWLHODSURJHWWD]LRQHJUDILFDSHULO
/D FOLHQWHOD GL ULIHULPHQWR q FRVWLWXLWD GD ´VRFLHWj GL FDSLWDOL H DOWUL HQWL SULYDWL FRPPHUFLDOL H QRQµ GHL
FRPSHQVLULFDYL H LPSUHQGLWRUL LQGLYLGXDOL H VRFLHWj GL SHUVRQH 6L VHJQDOD DQFKH FKH LO GHL
FRQWULEXHQWLGLWDOHFOXVWHURWWLHQHLOGHLSURSULFRPSHQVLULFDYLULYROJHQGRVLDSULYDWL
6LWUDWWDLQPDJJLRUDQ]DGLODYRUDWRULDXWRQRPLGHOWRWDOHFKHRSHUDQRQHOODTXDVLWRWDOLWjGHLFDVLDWLWROR
LQGLYLGXDOHHFKHUDUDPHQWHVLDYYDOJRQRGLSHUVRQDOHGLSHQGHQWH
,Q TXHVWR FOXVWHU L VRJJHWWL RUJDQL]]DWL LQ IRUPD GL LPSUHVD VL DYYDOJRQR GL DGGHWWL ,O GL HVVL LQGLFD GL
RSHUDUHFRQO·DXVLOLRGLSHUVRQDOHGLSHQGHQWH
— 108 —
— 109 —
(VHFX]LRQHGLGLVHJQLWHFQLFLDWWLYLWjULYROWDDGXQDSOXUDOLWjGL
FRPPLWWHQWL
$UUHGDPHQWRHFRPSOHPHQWLSHUO·DUUHGDPHQWRDUHHVSHFLDOLVWLFKH
ULYROWHDGXQDSOXUDOLWjGLFRPPLWWHQWL
(GLOL]LDDUHDVSHFLDOLVWLFDULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
,PSLDQWLVWLFDDUHDVSHFLDOLVWLFDULYROWDDGXQDSOXUDOLWjGL
FRPPLWWHQWL
0HFFDQLFDDUHDVSHFLDOLVWLFDULYROWDDGXQDSOXUDOLWjGL
FRPPLWWHQWL
(GLWRULDSXEEOLFLWjHPXOWLPHGLDDUHHVSHFLDOLVWLFKHULYROWHDG
XQDSOXUDOLWjGLFRPPLWWHQWL
&/867(5
&/867(5
&/867(5
&/867(5
&/867(5
&/867(5
&/867(5
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
O·DUUHGDPHQWRYDVLODPSDGHRJJHWWLVWLFDHFFVH3HUFHQWXDOHGHLFRPSHQVLULFDYLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOHLQGLFDUHVRORVHVXSHULRUHD DOWULPHQWLqSDULD
$UUHGDPHQWR H FRPSOHPHQWL SHU O·DUUHGDPHQWR ² DUHH VSHFLDOLVWLFKH ULYROWH DG XQD SOXUDOLWj GL FRPPLWWHQWL $UHH VSHFLDOLVWLFKH $UUHGDPHQWR &RPSOHPHQWL SHU
ULFDYLVH3HUFHQWXDOHGHLFRPSHQVLULFDYLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOHLQGLFDUHVRORVHVXSHULRUHD DOWULPHQWLqSDULD
(VHFX]LRQH GL GLVHJQL WHFQLFL DWWLYLWj ULYROWD DG XQD SOXUDOLWj GL FRPPLWWHQWL 7LSRORJLD GHOO
DWWLYLWj (VHFX]LRQH GL 'LVHJQL WHFQLFL &$' HFF 3HUFHQWXDOH VXL FRPSHQVL R
VXLFRPSHQVLRULFDYLVH3HUFHQWXDOHGHLFRPSHQVLULFDYLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOHLQGLFDUHVRORVHVXSHULRUHD DOWULPHQWLqSDULD
(VHFX]LRQHGLLOOXVWUD]LRQLER]]HWWLIXPHWWLDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL 7LSRORJLDGHOO
DWWLYLWj(VHFX]LRQHGL,OOXVWUD]LRQLER]]HWWLIXPHWWL3HUFHQWXDOH
'RYH
(VHFX]LRQHGLLOOXVWUD]LRQLER]]HWWLIXPHWWLDWWLYLWjULYROWDDG
XQDSOXUDOLWjGLFRPPLWWHQWL
&/867(5
9$5,$%,/(
3HUFHQWXDOHGHLFRPSHQVLULFDYLSURYHQLHQWLGDO
FRPPLWWHQWHSULQFLSDOHLQGLFDUHVRORVHVXSHULRUHD
,QWHUFHWWD
68%$//(*$72%3(6,'(//()81=,21,',6&5,0,1$17,
30-12-2014
Serie generale - n. 301
(GLOL]LDDUHDVSHFLDOLVWLFDULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL $UHHVSHFLDOLVWLFKH(GLOL]LDVH3HUFHQWXDOHGHLFRPSHQVLULFDYLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOHLQGLFDUH
,PSLDQWLVWLFD DUHD VSHFLDOLVWLFD ULYROWD DG XQD SOXUDOLWj GL FRPPLWWHQWL $UHH VSHFLDOLVWLFKH ,PSLDQWLVWLFD HOHWWULFD HOHWWURWHFQLFD WHUPRLGUDXOLFD HFF VH 3HUFHQWXDOH GHL
FRPSHQVLULFDYLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOHLQGLFDUHVRORVHVXSHULRUHD DOWULPHQWLqSDULD
0HFFDQLFDDUHDVSHFLDOLVWLFDULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL $UHHVSHFLDOLVWLFKH0HFFDQLFDVH3HUFHQWXDOHGHLFRPSHQVLULFDYLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOH
LQGLFDUHVRORVHVXSHULRUHD DOWULPHQWLqSDULD
(GLWRULDSXEEOLFLWjH PXOWLPHGLDDUHHVSHFLDOLVWLFKHULYROWHDGXQDSOXUDOLWjGLFRPPLWWHQWL $UHHVSHFLDOLVWLFKH(GLWRULD3XEEOLFLWj 0XOWLPHGLD:HEGHVLJQJUDILFD
GLJLWDOHHPXOWLPHGLDOHHFFVH3HUFHQWXDOHGHLFRPSHQVLULFDYLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOHLQGLFDUHVRORVHVXSHULRUHD DOWULPHQWLqSDULD
VRORVHVXSHULRUHD DOWULPHQWLqSDULD
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 110 —
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72&²)2508/('(*/,,1',&$725,$77,9,7­',/$9252$8721202
'L VHJXLWR VRQR ULSRUWDWH OH IRUPXOH GHJOL LQGLFDWRUL HFRQRPLFRFRQWDELOL XWLOL]]DWL LQ FRVWUX]LRQH HR
DSSOLFD]LRQHGHOORVWXGLRGLVHWWRUH
•
,QFLGHQ]D GHJOL DPPRUWDPHQWL SHU EHQL VWUXPHQWDOL PRELOL ULVSHWWR DO YDORUH GHJOL VWHVVL EHQL
VWUXPHQWDOL PRELOL DPPRUWL]]DELOL $PPRUWDPHQWL SHU EHQL PRELOL VWUXPHQWDOL DO QHWWR GHL EHQL GL
FRVWRXQLWDULRQRQVXSHULRUHDHXUR9DORUHGHLEHQLVWUXPHQWDOLPRELOLLQSURSULHWjDOQHWWRGHL
EHQLGLFRVWRXQLWDULRQRQVXSHULRUHDHXUR
•
•
•
•
•
,QFLGHQ]D GHOOH DOWUH FRPSRQHQWL QHJDWLYH DO QHWWR GHL FDQRQL GL ORFD]LRQH VXL FRPSHQVL $OWUH
FRPSRQHQWLQHJDWLYHQHWWH&RPSHQVLGLFKLDUDWL
,QFLGHQ]D GHOOH VSHVH VXL FRPSHQVL 6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH 6SHVH SHU
SUHVWD]LRQL GL FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL
GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H DUWLVWLFD &RQVXPL $OWUH VSHVH $OWUH FRPSRQHQWL
QHJDWLYHQHWWH&RPSHQVLGLFKLDUDWL
,QGLFH GL FRSHUWXUD GHO FRVWR SHU LO JRGLPHQWR GL EHQL GL WHU]L H GHJOL DPPRUWDPHQWL 0DUJLQH
QHWWR&DQRQL GL ORFD]LRQH ILQDQ]LDULD H QRQ ILQDQ]LDULD UHODWLYL D EHQL LPPRELOL &DQRQL GL ORFD]LRQH
ILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLVWUXPHQWDOLPRELOL$PPRUWDPHQWL
0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWR 0DUJLQH3URIHVVLRQLVWLWLWRODULGHOORVWXGLR
5HQGLPHQWR ORUGR SHU DGGHWWR LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R
DVVLPLODWR 9DORUHFUHDWRGDOORVWXGLRSURIHVVLRQDOH$GGHWWL
/DYDULDELOHqULGHWHUPLQDWDLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
1HOODVRODIDVHGLFRVWUX]LRQHL&RPSHQVLGLFKLDUDWLLQFOXGRQRDQFKHO·$GHJXDPHQWRGDVWXGLGLVHWWRUH
,QIDVHGLDSSOLFD]LRQHGHOO·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFD´,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQH
VXLFRPSHQVLµYHQJRQRXWLOL]]DWLL
&RPSHQVLGDFRQJUXLWjHGDQRUPDOLWj &RPSHQVRSXQWXDOHGDDQDOLVLGHOODFRQJUXLWj0DJJLRUHFRPSHQVRGDQRUPDOLWjHFRQRPLFD
UHODWLYR DOO·LQGLFDWRUH ´,QFLGHQ]D GHJOL DPPRUWDPHQWL SHU EHQL VWUXPHQWDOL PRELOL ULVSHWWR DO YDORUH GHJOL VWHVVL EHQL VWUXPHQWDOL PRELOL
DPPRUWL]]DELOLµ
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHLSURIHVVLRQLVWLWLWRODULGHOORVWXGLR
3URIHVVLRQLVWLWLWRODULGHOORVWXGLR 7LWRODUH
SURIHVVLRQLVWDFKHRSHUDLQIRUPD
LQGLYLGXDOH
3URIHVVLRQLVWLWLWRODULGHOORVWXGLR 1XPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQH
HVHUFL]LRFROOHWWLYRGHOO·DWWLYLWj
SURIHVVLRQDOH
,OWLWRODUHqSDULD
,OQXPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHqSDULDOODUHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
,OWLWRODUHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
6HLSURIHVVLRQLVWLWLWRODULGHOORVWXGLRVRQRLQIHULRUL D´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVRDOORUDL
SURIHVVLRQLVWLWLWRODULGHOORVWXGLRVRQRSDULDOYDORUHPDVVLPRWUDSURIHVVLRQLVWLWLWRODULGHOORVWXGLRH7LWRODUH²1XPHURGLSHQGHQWL
,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHJOLDGGHWWL
7LWRODUH1XPHURGLSHQGHQWL
$GGHWWL SURIHVVLRQLVWDFKHRSHUDLQIRUPD
LQGLYLGXDOH
1XPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH 1XPHUR
$GGHWWL GLSHQGHQWL
HVHUFL]LRFROOHWWLYRGHOO·DWWLYLWj
SURIHVVLRQDOH
,OWLWRODUHqSDULD,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
,OQXPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHqSDULDOODUHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
,OWLWRODUHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
*OL$GGHWWLQRQSRVVRQRHVVHUHLQIHULRULD´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVR
— 111 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
•
Serie generale - n. 301
5HVD RUDULDSHU DGGHWWR &RPSHQVL GLFKLDUDWL ² 6SHVH SHU SUHVWD]LRQL GL FROODERUD]LRQH FRRUGLQDWDH
FRQWLQXDWLYD ² &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H
DUWLVWLFD1XPHURDGGHWWL
'RYH
•
$PPRUWDPHQWLSHUEHQLPRELOLVWUXPHQWDOLDOQHWWRGHLEHQLGLFRVWRXQLWDULRQRQVXSHULRUHD
HXUR $PPRUWDPHQWLSHUEHQLPRELOLVWUXPHQWDOL6SHVHSHUO·DFTXLVWRGLEHQLVWUXPHQWDOLGL
FRVWRXQLWDULRQRQVXSHULRUHDHXUR
•
$OWUHFRPSRQHQWLQHJDWLYHQHWWH $OWUHFRPSRQHQWLQHJDWLYH²&DQRQLGLORFD]LRQHILQDQ]LDULDHQRQ
ILQDQ]LDULD UHODWLYL D EHQL LPPRELOL ² &DQRQL GL ORFD]LRQH ILQDQ]LDULD H QRQ ILQDQ]LDULD UHODWLYL D EHQL
VWUXPHQWDOLPRELOL;
•
0DUJLQH 9DORUHFUHDWRGDOORVWXGLRSURIHVVLRQDOH²6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH
•
0DUJLQH QHWWR 0DUJLQH ² >6RJOLD PLQLPD GL FRHUHQ]D GHO PDUJLQH GHO SURIHVVLRQLVWD42 3URIHVVLRQLVWLWLWRODULGHOORVWXGLR@
•
9DORUH FUHDWR GDOOR VWXGLR SURIHVVLRQDOH &RPSHQVL GLFKLDUDWL ² 6SHVH SHU SUHVWD]LRQL GL
FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD ² &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH
DIIHUHQWLO·DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD²&RQVXPL²$OWUHVSHVH²$OWUHFRPSRQHQWLQHJDWLYHQHWWH
•
9DORUHGHLEHQLVWUXPHQWDOLPRELOLLQSURSULHWjDOQHWWRGHLEHQLGLFRVWRXQLWDULRQRQVXSHULRUH
DHXUR 9DORUHGHLEHQLVWUXPHQWDOLPRELOL9DORUHUHODWLYRDEHQLDFTXLVLWLLQGLSHQGHQ]DGL
FRQWUDWWLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULD6SHVHSHUO·DFTXLVWRGLEHQLVWUXPHQWDOLGLFRVWR
XQLWDULRQRQVXSHULRUHDHXUR
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHOQXPHURGLDGGHWWL
1XPHURDGGHWWL SURIHVVLRQLVWDFKH
RSHUDLQIRUPD
LQGLYLGXDOH
1XPHURDGGHWWL HVHUFL]LRFROOHWWLYR
GHOO·DWWLYLWj
SURIHVVLRQDOH
´)DWWRUHFRUUHWWLYRLQGLYLGXDOHµ1XPHURGLSHQGHQWL
1XPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH ´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ 1XPHURGLSHQGHQWL
/D GHILQL]LRQH GHO ´)DWWRUH FRUUHWWLYR LQGLYLGXDOHµ H GHO ´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ q ULSRUWDWD QHOOD ´1RWD DOOD YDULDELOH GL
UHJUHVVLRQH2UHGHGLFDWHDOO·DWWLYLWjµ,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
/DVRJOLDPLQLPDGLFRHUHQ]DGHOPDUJLQHGHOSURIHVVLRQLVWDqODVRJOLDPLQLPDGHOO·LQGLFDWRUH´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGL
VSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWRµDSSOLFDWDDOO·LQWHUDSODWHDGHLFRQWULEXHQWL
— 112 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72&²)2508/('(*/,,1',&$725,$77,9,7­',,035(6$
'L VHJXLWR VRQR ULSRUWDWH OH IRUPXOH GHJOL LQGLFDWRUL HFRQRPLFRFRQWDELOL XWLOL]]DWL LQ FRVWUX]LRQH HR
DSSOLFD]LRQHGHOORVWXGLRGLVHWWRUH
•
,QFLGHQ]D GHJOL DPPRUWDPHQWL SHU EHQL VWUXPHQWDOL PRELOL ULVSHWWR DO YDORUH GHJOL VWHVVL EHQL
VWUXPHQWDOL PRELOL DPPRUWL]]DELOL $PPRUWDPHQWL SHU EHQL PRELOL VWUXPHQWDOL DO QHWWR GHL EHQL GL
FRVWRXQLWDULRQRQVXSHULRUHDHXUR9DORUHGHLEHQLVWUXPHQWDOLPRELOLLQSURSULHWjDOQHWWRGHL
EHQLGLFRVWRXQLWDULRQRQVXSHULRUHDHXUR
•
,QFLGHQ]D GHL FRVWL SHU EHQL PRELOL DFTXLVLWL LQ GLSHQGHQ]D GL FRQWUDWWL GL ORFD]LRQH ILQDQ]LDULD
ULVSHWWRDOYDORUHGHJOLVWHVVL &DQRQLSHUEHQLPRELOLDFTXLVLWLLQGLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQH
ILQDQ]LDULD DG HVFOXVLRQH GHL FDQRQL ILVFDOPHQWH GHGXFLELOL ROWUH LO SHULRGR GL GXUDWD GHO
FRQWUDWWR9DORUH GHL EHQL VWUXPHQWDOL PRELOL UHODWLYR D EHQL DFTXLVLWL LQ GLSHQGHQ]D GL FRQWUDWWL GL
ORFD]LRQHILQDQ]LDULD
•
•
•
•
,QFLGHQ]D GHL FRVWL UHVLGXDOL GL JHVWLRQH VXL ULFDYL &RVWL UHVLGXDOL GL JHVWLRQH5LFDYL
GLFKLDUDWL
,QGLFH GL FRSHUWXUD GHO FRVWR SHU LO JRGLPHQWR GL EHQL GL WHU]L H GHJOL DPPRUWDPHQWL 0DUJLQH
QHWWR&RVWRSHULOJRGLPHQWRGLEHQLGLWHU]L$PPRUWDPHQWL
0DUJLQH SHU DGGHWWR QRQ GLSHQGHQWH LQ DVVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR
0DUJLQH1XPHUR$GGHWWLQRQ'LSHQGHQWL
9DORUHDJJLXQWRORUGRSHUDGGHWWRLQSUHVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRUR 9DORUHDJJLXQWR
ORUGR1XPHURDGGHWWL
/DYDULDELOHqULGHWHUPLQDWDLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
,QIDVHGLDSSOLFD]LRQHGHOO·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFDYHQJRQRXWLOL]]DWLL
5LFDYL GD FRQJUXLWj H GD QRUPDOLWj 5LFDYR SXQWXDOH GD DQDOLVL GHOOD FRQJUXLWj 0DJJLRUH ULFDYR GD QRUPDOLWj HFRQRPLFD UHODWLYR
DOO·LQGLFDWRUH ´,QFLGHQ]D GHJOL DPPRUWDPHQWL SHU EHQL VWUXPHQWDOL PRELOL ULVSHWWR DO YDORUH GHJOL VWHVVL EHQL VWUXPHQWDOL PRELOL
DPPRUWL]]DELOLµ 0DJJLRUH ULFDYR GD QRUPDOLWj HFRQRPLFD UHODWLYR DOO·LQGLFDWRUH ´,QFLGHQ]D GHL FRVWL SHU EHQL PRELOL DFTXLVLWL LQ
GLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQHILQDQ]LDULDULVSHWWRDOYDORUHGHJOLVWHVVLµ
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHOQXPHURGLDGGHWWLQRQGLSHQGHQWL
1XPHUR DGGHWWL
QRQ GLSHQGHQWL 7LWRODUH+QXPHURFROODERUDWRULGHOO·LPSUHVDIDPLOLDUHHFRQLXJHGHOO·D]LHQGDFRQLXJDOHQXPHURIDPLOLDULGLYHUVL
GLWWHLQGLYLGXDOL FKHSUHVWDQRDWWLYLWjQHOO
LPSUHVDQXPHURDVVRFLDWLLQSDUWHFLSD]LRQH
1XPHUR DGGHWWL
QRQ GLSHQGHQWL 1XPHURIDPLOLDULGLYHUVLFKHSUHVWDQRDWWLYLWjQHOO
LPSUHVDQXPHURDVVRFLDWLLQSDUWHFLSD]LRQH+ QXPHURVRFL
DPPLQLVWUDWRUL+QXPHURVRFLQRQDPPLQLVWUDWRULQXPHURDPPLQLVWUDWRULQRQVRFL
VRFLHWj
6HLOQXPHURDGGHWWLQRQGLSHQGHQWLqLQIHULRUHD´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVRDOORUDLOQXPHUR
DGGHWWLQRQGLSHQGHQWLqSDULDOYDORUHPDVVLPRWUDQXPHURDGGHWWLQRQGLSHQGHQWLHWLWRODUH²QXPHURGLSHQGHQWL
,OWLWRODUHqSDULDXQR,OQXPHURGLSHQGHQWLqSDULDO1XPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
,O QXPHUR FROODERUDWRUL GHOO·LPSUHVD IDPLOLDUH H FRQLXJH GHOO·D]LHQGD FRQLXJDOH LO QXPHUR IDPLOLDUL GLYHUVL FKH SUHVWDQR DWWLYLWj
QHOO·LPSUHVD LO QXPHUR DVVRFLDWL LQ SDUWHFLSD]LRQH LO QXPHUR VRFL DPPLQLVWUDWRUL H LO QXPHUR VRFL QRQ DPPLQLVWUDWRUL VRQR SDUL DOOD
UHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
,OQXPHURGHJOLDPPLQLVWUDWRULQRQVRFLHLOWLWRODUHVRQRULGHWHUPLQDWLLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHO
FRUVRGHOSHULRGRG·LPSRVWDGLYLVR
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHOQXPHURGLDGGHWWL
1XPHURDGGHWWL 7LWRODUH + QXPHUR GLSHQGHQWL QXPHUR FROODERUDWRUL FRRUGLQDWL H FRQWLQXDWLYL FKH SUHVWDQR DWWLYLWj
GLWWHLQGLYLGXDOL SUHYDOHQWHPHQWH QHOO·LPSUHVD QXPHUR FROODERUDWRUL GHOO·LPSUHVD IDPLOLDUH H FRQLXJH GHOO·D]LHQGD FRQLXJDOH QXPHURIDPLOLDULGLYHUVLFKHSUHVWDQRDWWLYLWjQHOO
LPSUHVDQXPHURDVVRFLDWLLQSDUWHFLSD]LRQH
1XPHURDGGHWWL 1XPHUR GLSHQGHQWL QXPHUR FROODERUDWRUL FRRUGLQDWL H FRQWLQXDWLYL FKH SUHVWDQR DWWLYLWj SUHYDOHQWHPHQWH
VRFLHWj
QHOO·LPSUHVDQXPHURIDPLOLDULGLYHUVLFKHSUHVWDQRDWWLYLWjQHOO
LPSUHVDQXPHURDVVRFLDWLLQSDUWHFLSD]LRQH+
QXPHURVRFLDPPLQLVWUDWRUL+QXPHURVRFLQRQDPPLQLVWUDWRULQXPHURDPPLQLVWUDWRULQRQVRFL
,OWLWRODUHqSDULDXQR,OQXPHURGLSHQGHQWLqSDULDO1XPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
,O QXPHUR FROODERUDWRUL GHOO·LPSUHVD IDPLOLDUH H FRQLXJH GHOO·D]LHQGD FRQLXJDOH LO QXPHUR IDPLOLDUL GLYHUVL FKH SUHVWDQR DWWLYLWj
QHOO·LPSUHVD LO QXPHUR DVVRFLDWL LQ SDUWHFLSD]LRQH LO QXPHUR VRFL DPPLQLVWUDWRUL H LO QXPHUR VRFL QRQ DPPLQLVWUDWRUL VRQR SDUL DOOD
UHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
— 113 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
'RYH
•
$JJL GHULYDQWL GDOOD YHQGLWD GL JHQHUL VRJJHWWL DG DJJLR R ULFDYR ILVVR 5LFDYL GHULYDQWL GDOOD
YHQGLWDGLJHQHULVRJJHWWLDGDJJLRRULFDYRILVVR(VLVWHQ]HLQL]LDOLUHODWLYHDSURGRWWLVRJJHWWLDGDJJLR
RULFDYRILVVR5LPDQHQ]HILQDOLUHODWLYHDSURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVR&RVWLSHUO·DFTXLVWR
GLSURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVR%HQLVRJJHWWLDGDJJLRRULFDYRILVVRGLVWUXWWLRVRWWUDWWL
•
$PPRUWDPHQWLSHUEHQLPRELOLVWUXPHQWDOLDOQHWWRGHLEHQLGLFRVWRXQLWDULRQRQVXSHULRUHD
HXUR $PPRUWDPHQWLSHUEHQLPRELOLVWUXPHQWDOL6SHVHSHUO·DFTXLVWRGLEHQLVWUXPHQWDOLGL
FRVWRXQLWDULRQRQVXSHULRUHDHXUR
•
&RVWLUHVLGXDOLGLJHVWLRQH 2QHULGLYHUVLGLJHVWLRQH$EERQDPHQWLDULYLVWHHJLRUQDOLDFTXLVWRGL
OLEULVSHVHSHUFDQFHOOHULD6SHVHSHURPDJJLRDFOLHQWLHGDUWLFROLSURPR]LRQDOL3HUGLWHVXFUHGLWL
$OWULFRPSRQHQWLQHJDWLYL8WLOLVSHWWDQWLDJOLDVVRFLDWLLQSDUWHFLSD]LRQHFRQDSSRUWLGLVRORODYRUR
•
&RVWRGHOYHQGXWRHSHUODSURGX]LRQHGLVHUYL]L >(VLVWHQ]HLQL]LDOLUHODWLYHDPHUFLSURGRWWLILQLWL
PDWHULHSULPHHVXVVLGLDULHVHPLODYRUDWLHDLVHUYL]LQRQGLGXUDWDXOWUDQQXDOHHVFOXVHTXHOOHUHODWLYHD
SURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVR&RVWLSHUO
DFTXLVWRGLPDWHULHSULPHVXVVLGLDULHVHPLODYRUDWL
HPHUFLHVFOXVLTXHOOLUHODWLYLDSURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVRHSHUODSURGX]LRQHGLVHUYL]L
%HQLGLVWUXWWLRVRWWUDWWLHVFOXVLTXHOOLVRJJHWWLDGDJJLRRULFDYRILVVR@(VLVWHQ]HLQL]LDOLUHODWLYHDG
RSHUHIRUQLWXUHHVHUYL]LGLGXUDWDXOWUDQQXDOHGLFXLDOO
DUWFRPPDGHO78,5%HQLGLVWUXWWLR
VRWWUDWWL5LPDQHQ]HILQDOL
•
0DUJLQH 9DORUH DJJLXQWR ORUGR 6SHVH SHU ODYRUR GLSHQGHQWH H SHU DOWUH SUHVWD]LRQL GLYHUVH GD
ODYRUR GLSHQGHQWH DIIHUHQWL O
DWWLYLWj GHOO
LPSUHVD &RPSHQVL FRUULVSRVWL DL VRFL SHU O·DWWLYLWj GL
DPPLQLVWUDWRUHVRFLHWjGLSHUVRQH
•
0DUJLQHQHWWR 0DUJLQH>6RJOLDPLQLPDGLFRHUHQ]DGHOPDUJLQHSHUDGGHWWRQRQGLSHQGHQWH
1XPHURDGGHWWLQRQ'LSHQGHQWL@
•
5LFDYLGLFKLDUDWL 5LFDYLGLFXLDLFRPPLOHWWDHEHGHOO·DUWGHO78,5HVFOXVLDJJLRULFDYL
ILVVL$OWULSURYHQWLFRQVLGHUDWLULFDYL$OWULSURYHQWLFRQVLGHUDWLULFDYLGLFXLDOODOHWWHUDIGHOO
DUW
FRPPD GHO 78,5 5LPDQHQ]H ILQDOL UHODWLYH DG RSHUH IRUQLWXUH H VHUYL]L GL GXUDWD XOWUDQQXDOH 5LPDQHQ]HILQDOLUHODWLYHDGRSHUHIRUQLWXUHHVHUYL]LGLGXUDWDXOWUDQQXDOHGLFXLDOO
DUWFRPPDGHO
78,5(VLVWHQ]HLQL]LDOLUHODWLYHDGRSHUHIRUQLWXUHHVHUYL]LGLGXUDWDXOWUDQQXDOH(VLVWHQ]HLQL]LDOL
UHODWLYHDGRSHUHIRUQLWXUHHVHUYL]LGLGXUDWDXOWUDQQXDOHGLFXLDOO
DUWFRPPDGHO78,5
•
5LPDQHQ]H ILQDOL 5LPDQHQ]H ILQDOL UHODWLYH D PHUFL SURGRWWL ILQLWL PDWHULH SULPH H VXVVLGLDULH
VHPLODYRUDWLHDLVHUYL]LQRQGLGXUDWDXOWUDQQXDOHHVFOXVHTXHOOHUHODWLYHDSURGRWWLVRJJHWWLDGDJJLRR
ULFDYRILVVR5LPDQHQ]HILQDOLUHODWLYHDGRSHUHIRUQLWXUHHVHUYL]LGLGXUDWDXOWUDQQXDOHGLFXLDOO
DUW
FRPPDGHO78,5
•
9DORUHDJJLXQWR ORUGR 5LFDYLGLFKLDUDWL$JJLGHULYDQWLGDOODYHQGLWDGLJHQHULVRJJHWWLDGDJJLRR
ULFDYR ILVVR >&RVWR GHO YHQGXWR H SHU OD SURGX]LRQH GL VHUYL]L 6SHVH SHU DFTXLVWL GL VHUYL]L &RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjHGHQWLVRJJHWWLDOO·,UHV$OWULFRVWL
SHU VHUYL]L 2QHUL GLYHUVL GL JHVWLRQH $OWUL FRPSRQHQWL QHJDWLYL 8WLOL VSHWWDQWL DJOL DVVRFLDWL LQ
SDUWHFLSD]LRQHFRQDSSRUWLGLVRORODYRUR@
•
9DORUHGHLEHQLVWUXPHQWDOLPRELOLLQSURSULHWjDOQHWWRGHLEHQLGLFRVWRXQLWDULRQRQVXSHULRUH
DHXUR 9DORUHGHLEHQLVWUXPHQWDOL9DORUHUHODWLYRDEHQLDFTXLVLWLLQGLSHQGHQ]DGLFRQWUDWWL
GL ORFD]LRQH QRQ ILQDQ]LDULD 9DORUH UHODWLYR D EHQL DFTXLVLWL LQ GLSHQGHQ]D GL FRQWUDWWL GL ORFD]LRQH
ILQDQ]LDULD6SHVHSHUO·DFTXLVWRGLEHQLVWUXPHQWDOLGLFRVWRXQLWDULRQRQVXSHULRUHDHXUR
,OQXPHURFROODERUDWRULFRRUGLQDWLHFRQWLQXDWLYLFKHSUHVWDQRDWWLYLWjSUHYDOHQWHPHQWHQHOO·LPSUHVDLOQXPHURDPPLQLVWUDWRULQRQVRFLHLO
WLWRODUHVRQRULGHWHUPLQDWLLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
,OQXPHURDGGHWWLQRQSXzHVVHUHLQIHULRUHD´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVR
6HODYDULDELOHqPLQRUHGL]HURYLHQHSRVWDXJXDOHD]HUR
,O ULFKLDPR GHOO·DUW FRPPD GHO 78,5 q ULIHULWR DO WHVWR YLJHQWH DQWHULRUPHQWH DOO·DEURJD]LRQH GHOOD QRUPD RSHUDWD GDOO·DUW FRPPDGHOODOHJJHGLFHPEUHQRSHUHIRUQLWXUHHVHUYL]LXOWUDQQXDOLFRQLQL]LRGLHVHFX]LRQHQRQVXFFHVVLYRDOSHULRGR
G·LPSRVWDLQFRUVRDOODGDWDGHOGLFHPEUH
/D VRJOLD PLQLPD GL FRHUHQ]D GHO PDUJLQH SHU DGGHWWR QRQ GLSHQGHQWH q OD VRJOLD PLQLPD GHOO·LQGLFDWRUH ´0DUJLQH SHU DGGHWWR QRQ
GLSHQGHQWH²LQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURµDSSOLFDWDDOO·LQWHUDSODWHDGHLFRQWULEXHQWL
1HOODVRODIDVHGLFRVWUX]LRQHL5LFDYLGLFKLDUDWLLQFOXGRQRDQFKHO·$GHJXDPHQWRGDVWXGLGLVHWWRUH
— 114 —
— 115 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
,QGLFDWRUH
3URIHVVLRQLVWLVHQ]D
IRU]DODYRUR
3URIHVVLRQLVWLFRQ
IRU]DODYRUR
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSUHYDOHQWHPHQWHSHULOFRPPLWWHQWHSULQFLSDOH
68%$//(*$72'²',675,%8=,21,9(17,/,&+(,1',&$725,',&2(5(1=$$77,9,7­',/$9252$8721202
30-12-2014
Serie generale - n. 301
— 116 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
3URIHVVLRQLVWLVHQ]D
IRU]DODYRUR
3URIHVVLRQLVWLFRQ
IRU]DODYRUR
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
,QGLFDWRUH
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 117 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
,QGLFDWRUH
3URIHVVLRQLVWLVHQ]D
IRU]DODYRUR
3URIHVVLRQLVWLFRQ
IRU]DODYRUR
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLVSHFLDOL]]DWLQHOO·DUHDPHFFDQLFDFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Serie generale - n. 301
— 118 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
3URIHVVLRQLVWLVHQ]D
IRU]DODYRUR
3URIHVVLRQLVWLFRQ
IRU]DODYRUR
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
,QGLFDWRUH
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLVSHFLDOL]]DWLQHOO·DUHDHGLOL]LDFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 119 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
3URIHVVLRQLVWLVHQ]D
IRU]DODYRUR
3URIHVVLRQLVWLFRQ
IRU]DODYRUR
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
,QGLFDWRUH
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSUHYDOHQWHPHQWHQHOO·DPELWRGHOOHDUHHVSHFLDOLVWLFKHSXEEOLFLWjPXOWLPHGLDHRHGLWRULDHVLULYROJRQRDGXQDSOXUDOLWj
GLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 120 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
3URIHVVLRQLVWLVHQ]D
IRU]DODYRUR
3URIHVVLRQLVWLFRQ
IRU]DODYRUR
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
,QGLFDWRUH
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLVSHFLDOL]]DWLQHOO·DUHDLPSLDQWLVWLFDFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 121 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
,QGLFDWRUH
3URIHVVLRQLVWLVHQ]D
IRU]DODYRUR
3URIHVVLRQLVWLFRQ
IRU]DODYRUR
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGHOO·HVHFX]LRQHGLLOOXVWUD]LRQLER]]HWWLHIXPHWWLHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Serie generale - n. 301
— 122 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
3URIHVVLRQLVWLVHQ]D
IRU]DODYRUR
3URIHVVLRQLVWLFRQ
IRU]DODYRUR
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
*UXSSRWHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
,QGLFDWRUH
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSUHYDOHQWHPHQWHQHOO·DPELWRGHOOHDUHHVSHFLDOLVWLFKHDUUHGDPHQWRHRFRPSOHPHQWLSHUO·DUUHGDPHQWRHVLULYROJRQRDG
XQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
0RGDOLWjGL
GLVWULEX]LRQH
— 123 —
9DORUHDJJLXQWRORUGR *UXSSRWHUULWRULDOH
SHUDGGHWWR²LQ
SUHVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
0DUJLQHSHUDGGHWWR
*UXSSRWHUULWRULDOH
QRQGLSHQGHQWHLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
,QGLFDWRUH
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSUHYDOHQWHPHQWHSHULOFRPPLWWHQWHSULQFLSDOH
68%$//(*$72'²',675,%8=,21,9(17,/,&+(,1',&$725,',&2(5(1=$$77,9,7­',,035(6$
30-12-2014
Serie generale - n. 301
0RGDOLWjGL
GLVWULEX]LRQH
0RGDOLWjGL
GLVWULEX]LRQH
9DORUHDJJLXQWRORUGR *UXSSRWHUULWRULDOH
SHUDGGHWWR²LQ
SUHVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
0DUJLQHSHUDGGHWWR
*UXSSRWHUULWRULDOH
QRQGLSHQGHQWHLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
,QGLFDWRUH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
— 124 —
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
0RGDOLWjGL
GLVWULEX]LRQH
0RGDOLWjGL
GLVWULEX]LRQH
9DORUHDJJLXQWRORUGR *UXSSRWHUULWRULDOH
SHUDGGHWWR²LQ
SUHVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
0DUJLQHSHUDGGHWWR
*UXSSRWHUULWRULDOH
QRQGLSHQGHQWHLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
,QGLFDWRUH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
— 125 —
&OXVWHU&RQWULEXHQWLVSHFLDOL]]DWLQHOO·DUHDPHFFDQLFDFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
0RGDOLWjGL
GLVWULEX]LRQH
0RGDOLWjGL
GLVWULEX]LRQH
9DORUHDJJLXQWRORUGR *UXSSRWHUULWRULDOH
SHUDGGHWWR²LQ
SUHVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
0DUJLQHSHUDGGHWWR
*UXSSRWHUULWRULDOH
QRQGLSHQGHQWHLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
,QGLFDWRUH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
— 126 —
&OXVWHU&RQWULEXHQWLVSHFLDOL]]DWLQHOO·DUHDHGLOL]LDFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
0RGDOLWjGL
GLVWULEX]LRQH
9DORUHDJJLXQWRORUGR *UXSSRWHUULWRULDOH
SHUDGGHWWR²LQ
SUHVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
0DUJLQHSHUDGGHWWR
*UXSSRWHUULWRULDOH
QRQGLSHQGHQWHLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
,QGLFDWRUH
— 127 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSUHYDOHQWHPHQWHQHOO·DPELWRGHOOHDUHHVSHFLDOLVWLFKHSXEEOLFLWjPXOWLPHGLDHRHGLWRULDHVLULYROJRQRDGXQDSOXUDOLWj
GLFRPPLWWHQWL
30-12-2014
Serie generale - n. 301
0RGDOLWjGL
GLVWULEX]LRQH
0RGDOLWjGL
GLVWULEX]LRQH
9DORUHDJJLXQWRORUGR *UXSSRWHUULWRULDOH
SHUDGGHWWR²LQ
SUHVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
0DUJLQHSHUDGGHWWR
*UXSSRWHUULWRULDOH
QRQGLSHQGHQWHLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
,QGLFDWRUH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
— 128 —
&OXVWHU&RQWULEXHQWLVSHFLDOL]]DWLQHOO·DUHDLPSLDQWLVWLFDFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
0RGDOLWjGL
GLVWULEX]LRQH
9DORUHDJJLXQWRORUGR *UXSSRWHUULWRULDOH
SHUDGGHWWR²LQ
SUHVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
0DUJLQHSHUDGGHWWR
*UXSSRWHUULWRULDOH
QRQGLSHQGHQWHLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
,QGLFDWRUH
— 129 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGHOO·HVHFX]LRQHGLLOOXVWUD]LRQLER]]HWWLHIXPHWWLHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Serie generale - n. 301
— 130 —
0RGDOLWjGL
GLVWULEX]LRQH
0RGDOLWjGL
GLVWULEX]LRQH
9DORUHDJJLXQWRORUGR *UXSSRWHUULWRULDOH
SHUDGGHWWR²LQ
SUHVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
0DUJLQHSHUDGGHWWR
*UXSSRWHUULWRULDOH
QRQGLSHQGHQWHLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRURLQ
PLJOLDLDGLHXUR
*UXSSRWHUULWRULDOH
,QGLFDWRUH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSUHYDOHQWHPHQWHQHOO·DPELWRGHOOHDUHHVSHFLDOLVWLFKHDUUHGDPHQWRHRFRPSOHPHQWLSHUO·DUUHGDPHQWRHVLULYROJRQRDG
XQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72(9$/25,62*/,$3(5*/,,1',&$725,',&2(5(1=$
$77,9,7­',/$9252$8721202
5HQGLPHQWRORUGRSHUDGGHWWR
LQSUHVHQ]DGLVSHVHSHU
5HVDRUDULDSHU
SUHVWD]LRQLGLODYRUR
0RGDOLWjGL
DGGHWWR
&OXVWHU
GLVWULEX]LRQH GLSHQGHQWHRDVVLPLODWRLQ
PLJOLDLDGLHXUR
6RJOLDPLQLPD
6RJOLDPDVVLPD
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
&OXVWHU
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
6RJOLDPLQLPD
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
— 131 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
&OXVWHU
,QFLGHQ]DGHOOHVSHVHVXL
FRPSHQVL
0RGDOLWjGLGLVWULEX]LRQH
6RJOLDPLQLPD 6RJOLDPDVVLPD
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
— 132 —
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72(9$/25,62*/,$3(5*/,,1',&$725,',&2(5(1=$$77,9,7­',
,035(6$
&OXVWHU
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHSHUDGGHWWR 9DORUHDJJLXQWRORUGR
QRQGLSHQGHQWHLQ
SHUDGGHWWR²LQ
DVVHQ]DGLVSHVHSHU SUHVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR SUHVWD]LRQLGLODYRURLQ
LQPLJOLDLDGLHXUR
PLJOLDLDGLHXUR
6RJOLDPLQLPD
6RJOLD
PLQLPD
6RJOLD
PDVVLPD
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
— 133 —
— 134 —
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSUHYDOHQWHPHQWHSHULOFRPPLWWHQWHSULQFLSDOH
68%$//(*$72)²',675,%8=,21,9(17,/,&+(,1',&$725,',1250$/,7­(&2120,&$$77,9,7­',/$9252$8721202
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 135 —
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLVSHFLDOL]]DWLQHOO·DUHDHGLOL]LDFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLVSHFLDOL]]DWLQHOO·DUHDPHFFDQLFDFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 136 —
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLVSHFLDOL]]DWLQHOO·DUHDLPSLDQWLVWLFDFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSUHYDOHQWHPHQWHQHOO·DPELWRGHOOHDUHHVSHFLDOLVWLFKHSXEEOLFLWjPXOWLPHGLDHRHGLWRULDHVLULYROJRQRDGXQDSOXUDOLWj
GLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 137 —
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSUHYDOHQWHPHQWHQHOO·DPELWRGHOOHDUHHVSHFLDOLVWLFKHDUUHGDPHQWRHRFRPSOHPHQWLSHUO·DUUHGDPHQWRHVLULYROJRQRDGXQD
SOXUDOLWjGLFRPPLWWHQWL
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGHOO·HVHFX]LRQHGLLOOXVWUD]LRQLER]]HWWLHIXPHWWLHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Serie generale - n. 301
,QFLGHQ]DGHLFRVWLSHU
EHQLPRELOLDFTXLVLWLLQ
GLSHQGHQ]DGLFRQWUDWWL
7XWWLLVRJJHWWL
GLORFD]LRQHILQDQ]LDULD
ULVSHWWRDOYDORUHGHJOL
VWHVVL
,QFLGHQ]DGHLFRVWL
UHVLGXDOLGLJHVWLRQHVXL 7XWWLLVRJJHWWL
ULFDYL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
— 138 —
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSUHYDOHQWHPHQWHSHULOFRPPLWWHQWHSULQFLSDOH
68%$//(*$72)²',675,%8=,21,9(17,/,&+(,1',&$725,',1250$/,7­(&2120,&$$77,9,7­',,035(6$
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
,QFLGHQ]DGHLFRVWL
UHVLGXDOLGLJHVWLRQHVXL 7XWWLLVRJJHWWL
ULFDYL
,QFLGHQ]DGHLFRVWLSHU
EHQLPRELOLDFTXLVLWLLQ
GLSHQGHQ]DGLFRQWUDWWL
7XWWLLVRJJHWWL
GLORFD]LRQHILQDQ]LDULD
ULVSHWWRDOYDORUHGHJOL
VWHVVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 139 —
Serie generale - n. 301
,QFLGHQ]DGHLFRVWL
UHVLGXDOLGLJHVWLRQHVXL 7XWWLLVRJJHWWL
ULFDYL
,QFLGHQ]DGHLFRVWLSHU
EHQLPRELOLDFTXLVLWLLQ
GLSHQGHQ]DGLFRQWUDWWL
7XWWLLVRJJHWWL
GLORFD]LRQHILQDQ]LDULD
ULVSHWWRDOYDORUHGHJOL
VWHVVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLVSHFLDOL]]DWLQHOO·DUHDPHFFDQLFDFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 140 —
Serie generale - n. 301
,QFLGHQ]DGHLFRVWL
UHVLGXDOLGLJHVWLRQHVXL 7XWWLLVRJJHWWL
ULFDYL
,QFLGHQ]DGHLFRVWLSHU
EHQLPRELOLDFTXLVLWLLQ
GLSHQGHQ]DGLFRQWUDWWL
7XWWLLVRJJHWWL
GLORFD]LRQHILQDQ]LDULD
ULVSHWWRDOYDORUHGHJOL
VWHVVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLVSHFLDOL]]DWLQHOO·DUHDHGLOL]LDFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 141 —
Serie generale - n. 301
,QFLGHQ]DGHLFRVWL
UHVLGXDOLGLJHVWLRQHVXL 7XWWLLVRJJHWWL
ULFDYL
,QFLGHQ]DGHLFRVWLSHU
EHQLPRELOLDFTXLVLWLLQ
GLSHQGHQ]DGLFRQWUDWWL
7XWWLLVRJJHWWL
GLORFD]LRQHILQDQ]LDULD
ULVSHWWRDOYDORUHGHJOL
VWHVVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSUHYDOHQWHPHQWHQHOO·DPELWRGHOOHDUHHVSHFLDOLVWLFKHSXEEOLFLWjPXOWLPHGLDHRHGLWRULDHVLULYROJRQRDGXQDSOXUDOLWj
GLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 142 —
Serie generale - n. 301
,QFLGHQ]DGHLFRVWL
UHVLGXDOLGLJHVWLRQHVXL 7XWWLLVRJJHWWL
ULFDYL
,QFLGHQ]DGHLFRVWLSHU
EHQLPRELOLDFTXLVLWLLQ
GLSHQGHQ]DGLFRQWUDWWL
7XWWLLVRJJHWWL
GLORFD]LRQHILQDQ]LDULD
ULVSHWWRDOYDORUHGHJOL
VWHVVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLVSHFLDOL]]DWLQHOO·DUHDLPSLDQWLVWLFDFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 143 —
Serie generale - n. 301
— 144 —
,QFLGHQ]DGHLFRVWL
UHVLGXDOLGLJHVWLRQHVXL 7XWWLLVRJJHWWL
ULFDYL
,QFLGHQ]DGHLFRVWLSHU
EHQLPRELOLDFTXLVLWLLQ
GLSHQGHQ]DGLFRQWUDWWL
7XWWLLVRJJHWWL
GLORFD]LRQHILQDQ]LDULD
ULVSHWWRDOYDORUHGHJOL
VWHVVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGHOO·HVHFX]LRQHGLLOOXVWUD]LRQLER]]HWWLHIXPHWWLHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
,QFLGHQ]DGHLFRVWL
UHVLGXDOLGLJHVWLRQHVXL 7XWWLLVRJJHWWL
ULFDYL
,QFLGHQ]DGHLFRVWLSHU
EHQLPRELOLDFTXLVLWLLQ
GLSHQGHQ]DGLFRQWUDWWL
7XWWLLVRJJHWWL
GLORFD]LRQHILQDQ]LDULD
ULVSHWWRDOYDORUHGHJOL
VWHVVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
7XWWLLVRJJHWWL
ULVSHWWRDOYDORUHGHJOL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSUHYDOHQWHPHQWHQHOO·DPELWRGHOOHDUHHVSHFLDOLVWLFKHDUUHGDPHQWRHRFRPSOHPHQWLSHUO·DUUHGDPHQWRHVLULYROJRQRDGXQD
SOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 145 —
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72*9$/25,62*/,$3(5*/,,1',&$725,',1250$/,7­
(&2120,&$$77,9,7­',/$9252$8721202
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHU
,QFLGHQ]DGHOOHDOWUH
EHQLVWUXPHQWDOL
FRPSRQHQWLQHJDWLYHDO
PRELOLULVSHWWRDO
0RGDOLWjGL
QHWWRGHLFDQRQLGL
&OXVWHU
GLVWULEX]LRQH YDORUHGHJOLVWHVVLEHQL ORFD]LRQHVXLFRPSHQVL
VWUXPHQWDOLPRELOL
DPPRUWL]]DELOL
6RJOLDPDVVLPD
6RJOLDPDVVLPD
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
— 146 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72*9$/25,62*/,$3(5*/,,1',&$725,',1250$/,7­
(&2120,&$$77,9,7­',,035(6$
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHU
EHQLVWUXPHQWDOL
PRELOLULVSHWWRDO
0RGDOLWjGL
&OXVWHU
GLVWULEX]LRQH YDORUHGHJOLVWHVVLEHQL
VWUXPHQWDOLPRELOL
DPPRUWL]]DELOL
,QFLGHQ]DGHLFRVWLSHU
EHQLPRELOLDFTXLVLWLLQ
,QFLGHQ]DGHLFRVWL
GLSHQGHQ]DGLFRQWUDWWL
UHVLGXDOLGLJHVWLRQH
GLORFD]LRQHILQDQ]LDULD
VXLULFDYL
ULVSHWWRDOYDORUHGHJOL
VWHVVL
6RJOLDPDVVLPD
6RJOLDPDVVLPD
6RJOLDPDVVLPD
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
— 147 —
9$5,$%,/(
— 148 —
9DORUHGHLEHQLVWUXPHQWDOLPRELOL
9DULDELOLFRQWDELOLHVSUHVVHLQHXUR
/DYDULDELOHYLHQHULGHWHUPLQDWDLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
3HULOGHWWDJOLRYHGL´1RWDDOODYDULDELOHGLUHJUHVVLRQH2UHGHGLFDWHDOO·DWWLYLWjµ
,OFRPSHQVRSXQWXDOHHLOFRPSHQVRPLQLPRVHQHJDWLYLVRQRSRVWLXJXDOLD]HUR
(WjSURIHVVLRQDOH 9DORUHPDVVLPRWUD3HULRGRGLLPSRVWD²$QQRG·LQL]LRDWWLYLWjH
'RYH
&/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5
2UHGHGLFDWHDOO
DWWLYLWj
2UHGHGLFDWHDOO
DWWLYLWj(WjSURIHVVLRQDOHILQRDDQQL
1XPHURGLLQFDULFKLULIHULWRD´(VHFX]LRQHGLSURJHWWLJUDILFLµ
1XPHURGLLQFDULFKLULIHULWRD´3URJHWWD]LRQHLQFOXVDODFRQVXOHQ]DVXOOD
SURGX]LRQHHFXUDGHLPDWHULDOLJUDILFDµ
1XPHURGLLQFDULFKLULIHULWRD´3URJHWWD]LRQHLQFOXVDODFRQVXOHQ]DVXOOD
SURGX]LRQHHFXUDGHLPDWHULDOLLQGXVWULDOHµ
6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH6SHVHSHUSUHVWD]LRQLGL
FROODERUD]LRQHFRRUGLQDWDHFRQWLQXDWLYD&RPSHQVLFRUULVSRVWLDWHU]LSHU
SUHVWD]LRQLGLUHWWDPHQWHDIIHUHQWLO
DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD
2UHGHGLFDWHDOO
DWWLYLWj(WjSURIHVVLRQDOHILQRDDQQL
&RQVXPL$OWUHVSHVH
1XPHURGLLQFDULFKLULIHULWRD´(VHFX]LRQHGL
LOOXVWUD]LRQLER]]HWWLIXPHWWLµ
1XPHURGLLQFDULFKLULIHULWRD´(VHFX]LRQHGLGLVHJQLWHFQLFL&$'HFFµ
68%$//(*$72+&2()),&,(17,'(//()81=,21,',&203(162
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 149 —
&267,727$/,
9DORUHEHQLVWUXPHQWDOLPRELOL
2UHGHGLFDWHDOO
DWWLYLWj
1XPHURGLLQFDULFKLULIHULWRD´3URJHWWD]LRQHLQFOXVDODFRQVXOHQ]DVXOODSURGX]LRQHHFXUDGHL
PDWHULDOLLQGXVWULDOHµ
1XPHURGLLQFDULFKLULIHULWRD´3URJHWWD]LRQHLQFOXVDODFRQVXOHQ]DVXOODSURGX]LRQHHFXUDGHL
PDWHULDOLJUDILFDµ
6SHVHSHUDFTXLVWLGLVHUYL]L&RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUH
VRFLHWjHGHQWLVRJJHWWLDOO·,UHV$OWULFRVWLSHUVHUYL]L&RVWRSHUEHQLPRELOLDFTXLVLWLLQ
GLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQHQRQILQDQ]LDULDHGLQROHJJLR$EERQDPHQWLDULYLVWHH
JLRUQDOLDFTXLVWRGLOLEULVSHVHSHUFDQFHOOHULD6SHVHSHURPDJJLRDFOLHQWLHGDUWLFROL
SURPR]LRQDOL
1XPHURGLLQFDULFKLULIHULWRD´(VHFX]LRQHGLGLVHJQLWHFQLFL&$'HFFµ
1XPHURGLLQFDULFKLULIHULWRD´(VHFX]LRQHGLSURJHWWLJUDILFLµ
&/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5
&9352'6SHVHSHUDFTXLVWLGLVHUYL]L&RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGL
DPPLQLVWUDWRUHVRFLHWjHGHQWLVRJJHWWLDOO
,UHV
&9352'
6SHVHSHUODYRURGLSHQGHQWHHSHUDOWUHSUHVWD]LRQLGLYHUVHGDODYRURGLSHQGHQWHDIIHUHQWL
O
DWWLYLWjGHOO
LPSUHVD&RPSHQVLFRUULVSRVWLDLVRFLSHUO
DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjGL
SHUVRQH
6SHVHSHUDFTXLVWLGLVHUYL]L&RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUH
VRFLHWjHGHQWLVRJJHWWLDOO·,UHV
$OWULFRVWLSHUVHUYL]L&RVWRSHUEHQLPRELOLDFTXLVLWLLQGLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQH
QRQILQDQ]LDULDHGLQROHJJLR$EERQDPHQWLDULYLVWHHJLRUQDOLDFTXLVWRGLOLEULVSHVHSHU
FDQFHOOHULD6SHVHSHURPDJJLRDFOLHQWLHGDUWLFROLSURPR]LRQDOL
9$5,$%,/(
68%$//(*$72+&2()),&,(17,'(//()81=,21,',5,&$92
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
9DULDELOLFRQWDELOLHVSUHVVHLQHXUR
/DYDULDELOHYLHQHULGHWHUPLQDWDLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
3HULOGHWWDJOLRYHGL´1RWDDOODYDULDELOHGLUHJUHVVLRQH2UHGHGLFDWHDOO·DWWLYLWjµ
,OULFDYRSXQWXDOHHLOULFDYRPLQLPRVHQHJDWLYLVRQRSRVWLXJXDOLD]HUR
9DORUHEHQLVWUXPHQWDOLPRELOL 9DORUHGHLEHQLVWUXPHQWDOL9DORUHGHLEHQLVWUXPHQWDOLUHODWLYRDEHQLDFTXLVLWLLQGLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQHQRQILQDQ]LDULD
&267,727$/, &9352'6SHVHSHUDFTXLVWLGLVHUYL]L&RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjHGHQWLVRJJHWWLDOO·,UHV$OWULFRVWLSHUVHUYL]L&RVWRSHUEHQLPRELOL
DFTXLVLWLLQGLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQHQRQILQDQ]LDULDHGLQROHJJLR6SHVHSHUODYRURGLSHQGHQWHHSHUDOWUHSUHVWD]LRQLGLYHUVHGDODYRURGLSHQGHQWHDIIHUHQWLO
DWWLYLWjGHOO·LPSUHVD&RPSHQVL
FRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjGLSHUVRQH$EERQDPHQWLDULYLVWHHJLRUQDOLDFTXLVWRGLOLEULVSHVHSHUFDQFHOOHULD6SHVHSHURPDJJLRDFOLHQWLHGDUWLFROLSURPR]LRQDOL
&9352' YDORUHPDVVLPRWUD&RVWRGHOYHQGXWRHSHUODSURGX]LRQHGLVHUYL]LH
'RYH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 150 —
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
127$$//$9$5,$%,/(',5(*5(66,21(
25('(',&$7($//·$77,9,7­
/DYDULDELOH´2UHGHGLFDWHDOO·DWWLYLWjµQHOFDVRGLDWWLYLWjGLODYRURDXWRQRPRqFDOFRODWDFRPH
2UHGHGLFDWH
´)DWWRUHFRUUHWWLYRLQGLYLGXDOHµ
DOO·DWWLYLWj GRYH
SURIHVVLRQLVWD
FKHRSHUDLQ
•
´)DWWRUH FRUUHWWLYR LQGLYLGXDOHµ ´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ ´3HVR
IRUPDLQGLYLGXDOH
VHWWLPDQHGLODYRURQHOSHULRGRG·LPSRVWDµ
•
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ q SDUL D PLQRU YDORUH WUD H QXPHUR RUH
VHWWLPDQDOLGHGLFDWHDOO·DWWLYLWjGLYLVR
•
´3HVRVHWWLPDQHGLODYRURQHOSHULRGRG·LPSRVWDµqSDULDPLQRUYDORUHWUD´9DORUHPDVVLPR
GHOOHVHWWLPDQHGLODYRURQHOSHULRGRG·LPSRVWDµHQXPHURGLVHWWLPDQHGLODYRURQHOSHULRGR
GLLPSRVWDGLYLVR
2UHGHGLFDWH
DOO·DWWLYLWj HVHUFL]LR
FROOHWWLYR
GHOO·DWWLYLWj
SURIHVVLRQDOH
1XPHUR GL VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH ´)DWWRUH FRUUHWWLYR
DVVRFLD]LRQLµ
GRYH
•
´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ ´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ ´3HVR
VHWWLPDQHGLODYRURQHOSHULRGRG·LPSRVWDµ
•
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ q SDUL D PLQRU YDORUH WUD H QXPHUR RUH
VHWWLPDQDOLGHGLFDWHDOO·DWWLYLWjGLYLVRQXPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWj
RDVVRFLD]LRQHGLYLVR
•
´3HVRVHWWLPDQHGLODYRURQHOSHULRGRG·LPSRVWDµqSDULDPLQRUYDORUHWUD´9DORUHPDVVLPR
GHOOHVHWWLPDQHGLODYRURQHOSHULRGRG·LPSRVWDµHQXPHURGLVHWWLPDQHGLODYRURQHOSHULRGR
G·LPSRVWD GLYLVR QXPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH
GLYLVR
,O´9DORUHPDVVLPRGHOOHVHWWLPDQHGLODYRURQHOSHULRGRG·LPSRVWDµRYYHURVHWWLPDQHqULGHWHUPLQDWRLQEDVHDOODGXUDWD
GHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
— 151 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
/DYDULDELOH´2UHGHGLFDWHDOO·DWWLYLWjµQHOFDVRGLDWWLYLWjGLLPSUHVDqFDOFRODWDFRPH
2UHGHGLFDWH
DOO·DWWLYLWj GLWWH
LQGLYLGXDOL
´)DWWRUHFRUUHWWLYRGLWWDLQGLYLGXDOHµWLWRODUHQXPHURFROODERUDWRULGHOO·LPSUHVDIDPLOLDUH
H FRQLXJH GHOO·D]LHQGD FRQLXJDOH QXPHUR IDPLOLDUL GLYHUVL FKH SUHVWDQR DWWLYLWj QHOO·LPSUHVD QXPHURDVVRFLDWLLQSDUWHFLSD]LRQH
GRYH
•
•
•
´)DWWRUH FRUUHWWLYR GLWWD LQGLYLGXDOHµ ´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ ´3HVR
VHWWLPDQHGLODYRURQHOSHULRGRG·LPSRVWDµ
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ q SDUL D PLQRU YDORUH WUD H QXPHUR RUH
VHWWLPDQDOLGHGLFDWHDOO·DWWLYLWjGLYLVRWLWRODUHQXPHURFROODERUDWRULGHOO·LPSUHVDIDPLOLDUHH
FRQLXJHGHOO·D]LHQGDFRQLXJDOHQXPHURIDPLOLDULGLYHUVLFKHSUHVWDQRDWWLYLWjQHOO·LPSUHVD
QXPHURDVVRFLDWLLQSDUWHFLSD]LRQHGLYLVR
´3HVRVHWWLPDQHGLODYRURQHOSHULRGRG·LPSRVWDµqSDULDPLQRUYDORUHWUD´9DORUHPDVVLPR
GHOOH VHWWLPDQH GL ODYRUR QHO SHULRGR G·LPSRVWDµ H QXPHUR GL VHWWLPDQH GL ODYRUR QHO
SHULRGR G·LPSRVWD GLYLVR WLWRODUH QXPHUR FROODERUDWRUL GHOO·LPSUHVD IDPLOLDUH H FRQLXJH
GHOO·D]LHQGDFRQLXJDOHQXPHURIDPLOLDULGLYHUVLFKHSUHVWDQRDWWLYLWjQHOO·LPSUHVDQXPHUR
DVVRFLDWLLQSDUWHFLSD]LRQHGLYLVR
2UHGHGLFDWH
DOO·DWWLYLWj VRFLHWj
´)DWWRUHFRUUHWWLYRVRFLHWjµQXPHURIDPLOLDULGLYHUVLFKHSUHVWDQRDWWLYLWjQHOO·LPSUHVD
QXPHURDVVRFLDWLLQSDUWHFLSD]LRQHQXPHURVRFLDPPLQLVWUDWRULQXPHURVRFLQRQDPPLQLVWUDWRUL
GRYH
•
•
´)DWWRUHFRUUHWWLYRVRFLHWjµ ´3HVRRUHVHWWLPDQDOLGHGLFDWHDOO·DWWLYLWjµ´3HVRVHWWLPDQHGL
ODYRURQHOSHULRGRG·LPSRVWDµ
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ q SDUL D PLQRU YDORUH WUD H QXPHUR RUH
VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWj GLYLVR QXPHUR IDPLOLDUL GLYHUVL FKH SUHVWDQR DWWLYLWj
QHOO·LPSUHVDQXPHURDVVRFLDWLLQSDUWHFLSD]LRQHQXPHURVRFLDPPLQLVWUDWRULQXPHUR
VRFLQRQDPPLQLVWUDWRULGLYLVR
6H QXPHUR IDPLOLDUL GLYHUVL FKH SUHVWDQR DWWLYLWj QHOO·LPSUHVD QXPHUR DVVRFLDWL LQ
SDUWHFLSD]LRQHQXPHURVRFLDPPLQLVWUDWRULQXPHURVRFLQRQDPPLQLVWUDWRULqXJXDOHD
DOORUD´3HVRRUHVHWWLPDQDOLGHGLFDWHDOO·DWWLYLWjµqSDULD
•
´3HVR VHWWLPDQH GL ODYRUR QHO SHULRGR G·LPSRVWDµ q SDUL D PLQRU YDORUH WUD ´9DORUH
PDVVLPRGHOOHVHWWLPDQHGLODYRURQHOSHULRGRG·LPSRVWDµHQXPHURGLVHWWLPDQHGLODYRUR
QHOSHULRGRG·LPSRVWDGLYLVR QXPHURIDPLOLDULGLYHUVLFKHSUHVWDQRDWWLYLWj QHOO·LPSUHVD
QXPHUR DVVRFLDWL LQ SDUWHFLSD]LRQH QXPHUR VRFL DPPLQLVWUDWRUL QXPHUR VRFL QRQ
DPPLQLVWUDWRULGLYLVR
6H QXPHUR IDPLOLDUL GLYHUVL FKH SUHVWDQR DWWLYLWj QHOO·LPSUHVD QXPHUR DVVRFLDWL LQ
SDUWHFLSD]LRQHQXPHURVRFLDPPLQLVWUDWRULQXPHURVRFLQRQDPPLQLVWUDWRULqXJXDOHD
DOORUD´3HVRVHWWLPDQHGLODYRURQHOSHULRGRG·LPSRVWDµqSDULD
,OWLWRODUHqSDULD
,O´9DORUHPDVVLPRGHOOHVHWWLPDQHGLODYRURQHOSHULRGRG·LPSRVWDµRYYHURVHWWLPDQHqULGHWHUPLQDWRLQEDVHDOODGXUDWD
GHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
— 152 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$//(*$72
1 27$ 7 (&1,&$( 0 (72'2/2*,&$ 678',2',6(7725(:.8
$00,1,675$=,21(',&21'20,1,
*(67,21(',%(1,,002%,/,3(5&2172
7 ( 5 = , ( 6 ( 59 , = , , 1 7 ( * 5 $7 , ' , *(67,21($*/,(',),&,
— 153 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&5,7(5,3(5/·(92/8=,21('(//2678',2',6(7725(
/
DSSOLFD]LRQH GHOOR VWXGLR GL VHWWRUH DWWULEXLVFH DL FRQWULEXHQWL XQ ´FRPSHQVRULFDYR SRWHQ]LDOHµ 7DOH
FRPSHQVRULFDYRYLHQHVWLPDWRWHQHQGRFRQWRVLDGLYDULDELOLFRQWDELOLVLDGLYDULDELOLVWUXWWXUDOLFKHLQIOXHQ]DQR
LOULVXOWDWRHFRQRPLFRGLXQVRJJHWWRHVHUFHQWHDWWLYLWjSURIHVVLRQDOHGLVHJXLWR´SURIHVVLRQLVWDµRGLXQ·LPSUHVD
DQFKHFRQ ULIHULPHQWR DO FRQWHVWR WHUULWRULDOH LQ FXL JOL VWHVVL RSHUDQR /
DSSOLFD]LRQH GHOOR VWXGLR FRQVHQWH
LQROWUH GL YDOXWDUH OD FRHUHQ]D H OD QRUPDOLWj HFRQRPLFD GHO VLQJROR SURIHVVLRQLVWD R GHOOD VLQJROD LPSUHVD LQ
UHOD]LRQHDOVHWWRUHHFRQRPLFRGLDSSDUWHQHQ]D
$ WDOH VFRSR QHOO·DPELWR GHOOR VWXGLR YHQJRQR LQGLYLGXDWH OH UHOD]LRQL WUD OH YDULDELOL FRQWDELOL H OH YDULDELOL
VWUXWWXUDOL SHU DQDOL]]DUH L SRVVLELOL SURFHVVL SURGXWWLYL H L GLYHUVL PRGHOOL RUJDQL]]DWLYL LPSLHJDWL
QHOO·HVSOHWDPHQWRGHOO·DWWLYLWj
/·HYROX]LRQH GHOOR VWXGLR GL VHWWRUH q ILQDOL]]DWD D FRJOLHUH HYHQWXDOL FDPELDPHQWL VWUXWWXUDOL PRGLILFKH GHL
PRGHOOLRUJDQL]]DWLYLHYDULD]LRQLGLPHUFDWRDOO·LQWHUQRGHOVHWWRUHHFRQRPLFRHSUHVXSSRQHXQ·DWWLYLWjGLDQDOLVL
HULFHUFDHFRQRPLFDFKHYLHQHFRQGRWWDDWWLQJHQGRDIRQWLLQIRUPDWLYHSXEEOLFKHHQRQSXEEOLFKH
/HIRQWLSXEEOLFKHVRQRUDSSUHVHQWDWHGDHODERUD]LRQLGLHQWLRVRFLHWjFKHVYROJRQRULFHUFKHGLWLSRHFRQRPLFR
VWDWLVWLFR ,VWDW &HQVLV %DQFD G·,WDOLD ,QIRFDPHUH HFF H FKH IRUQLVFRQR GDWL H LQIRUPD]LRQL VXOO·DQGDPHQWR
HFRQRPLFR GHL PHUFDWL VXOOD VWUXWWXUD H OD GLPHQVLRQH GHL SULQFLSDOL VHWWRUL HFRQRPLFL H VXOOD FRQJLXQWXUD
HFRQRPLFD
2OWUH DOOH IRQWL GL FDUDWWHUH SXEEOLFR FKH IRUQLVFRQR LQIRUPD]LRQL SL JHQHUDOL YHQJRQR XWLOL]]DWH IRQWL
VSHFLILFKH VHWWRULDOL ULYLVWH VSHFLDOL]]DWH SDUWHFLSD]LRQH D VHPLQDUL H FRQYHJQL VSHFLDOLVWLFL SXEEOLFD]LRQL GHL
SULQFLSDOL LVWLWXWL GL ULFHUFD LQGDJLQL FDPSLRQDULH HFF VL WUDWWD GL IRQWL FKH LOOXVWUDQR O·DUWLFROD]LRQH HG
HYROX]LRQH GHOO·RIIHUWD VLD LQ WHUPLQL GL PRGHOOL RUJDQL]]DWLYL DGRWWDWL FKH GL JDPPD GL VHUYL]L SURIHVVLRQDOL
HURJDWL O·DQGDPHQWR H OD FRPSRVL]LRQH GHOOD GRPDQGD O·LPSDWWR GL SURYYHGLPHQWL QRUPDWLYL VXOO·DWWLYLWj
VXOO·RUJDQL]]D]LRQHHVXOODVWUXWWXUDGHOORVWXGLRSURIHVVLRQDOHRGHOO·LPSUHVD
8Q VXSSRUWR SL GLUHWWR H RSHUDWLYR SURYLHQH GD XQD UHWH GL WHFQLFL FRVWLWXLWD GD LVWLWXWL XQLYHUVLWDUL FHQWUL GL
ULFHUFDGRFHQWLHULFHUFDWRULFKHRSHUDDQFKHWUDPLWHO·XWLOL]]RGLSDQHOGLSURIHVVLRQLVWLHLPSUHVH
'LVHJXLWRYHQJRQRHVSRVWLLFULWHULVHJXLWLSHUODFRVWUX]LRQHGHOORVWXGLRGLVHWWRUH:.8HYROX]LRQHGHOOR
VWXGLR9.8
/HDWWLYLWjHFRQRPLFKHRJJHWWRGHOORVWXGLRGLVHWWRUH:.8VRQRTXHOOHUHODWLYHDLVHJXHQWLFRGLFL$7(&2
•
²$PPLQLVWUD]LRQHGLFRQGRPLQLHJHVWLRQHGLEHQLLPPRELOLSHUFRQWRWHU]L
•
²6HUYL]LLQWHJUDWLGLJHVWLRQHDJOLHGLILFL
/·HYROX]LRQHGHOORVWXGLRGLVHWWRUHqVWDWDFRQGRWWDDQDOL]]DQGROHLQIRUPD]LRQLFRQWHQXWHQHOPRGHOOR9.8
SHUODFRPXQLFD]LRQHGHLGDWLULOHYDQWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUHSHULOSHULRGRG·LPSRVWD
WUDVPHVVRGDLFRQWULEXHQWLTXDOHDOOHJDWRDOPRGHOOR81,&2
3HUO·DWWLYLWjGLLPSUHVDVLSUHFLVDFKHODYDULDELOH´&RVWLSHUO·DFTXLVWRGLPDWHULHSULPHVXVVLGLDULHVHPLODYRUDWLH
PHUFLHVFOXVLTXHOOLUHODWLYLDSURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVRHSHUODSURGX]LRQHGLVHUYL]LµLQIDVHGL
DSSOLFD]LRQHqLOULVXOWDWRGHOODVRPPDGHOOHYDULDELOLRULJLQDULH´&RVWLSHUO·DFTXLVWRGLPDWHULHSULPHVXVVLGLDULH
VHPLODYRUDWLHPHUFLHVFOXVLTXHOOLUHODWLYLDSURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVRµH´&RVWRSHUODSURGX]LRQH
GLVHUYL]LµGHOPRGHOORLQDUJRPHQWR
,FRQWULEXHQWLLQWHUHVVDWLVRQRULVXOWDWLSDULD
1HOOD SULPD IDVH GL DQDOLVL SRVL]LRQL VRQR VWDWH VFDUWDWH LQ TXDQWR QRQ XWLOL]]DELOL QHOOH VXFFHVVLYH IDVL
GHOO·HODERUD]LRQH GHOOR VWXGLR GL VHWWRUH FDVL GL FHVVD]LRQH GL DWWLYLWj VLWXD]LRQL GL QRQ QRUPDOH VYROJLPHQWR
GHOO·DWWLYLWjFRQWULEXHQWLIRUIHWDULLPSUHVHQHOUHJLPHGHL´PLQLPLµQHOSHULRGRGLLPSRVWDSUHFHGHQWHSUHVHQ]D
GLDWWLYLWjVHFRQGDULHFRQXQ·LQFLGHQ]DVXLULFDYLFRPSOHVVLYLVXSHULRUHDOFRPSHQVLULFDYLGLFKLDUDWLDLILQL
GHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUHPDJJLRULGLHXUR
6XL GDWL FRQWHQXWL QHL PRGHOOL VWXGL GL VHWWRUH GHOOD UHVWDQWH SODWHD VRQR VWDWH FRQGRWWH DQDOLVL VWDWLVWLFKH SHU
ULOHYDUHODFRPSOHWH]]DODFRUUHWWH]]DHODFRHUHQ]DGHOOHLQIRUPD]LRQLLQHVVLFRQWHQXWH
— 154 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
7DOL DQDOLVL KDQQR FRPSRUWDWR DL ILQL GHOOD GHILQL]LRQH GHO FDPSLRQH GHOOR VWXGLR OR VFDUWR GL XOWHULRUL SRVL]LRQL,PRWLYLGLVFDUWRVRQRVWDWL
•
TXDGUR'HOHPHQWLVSHFLILFLGHOO
DWWLYLWjQRQFRPSLODWR
•
TXDGUR)HOHPHQWLFRQWDELOLQRQFRPSLODWR
•
TXDGUR*HOHPHQWLFRQWDELOLQRQFRPSLODWR
•
FRPXQHGHOTXDGUR%XQLWjORFDOLGHVWLQDWHDOO·HVHUFL]LRGHOO·DWWLYLWjHRDQDJUDILFRPDQFDQWHRHUUDWR
•
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLUHODWLYHDOODWLSRORJLDGHOO·DWWLYLWjTXDGUR'
•
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLUHODWLYHDOODWLSRORJLDGLVHUYL]LGL)DFLOLW\0DQDJHPHQWTXDGUR'
•
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLUHODWLYHDOODWLSRORJLDGHOODFOLHQWHODTXDGUR'
•
QRQLQHUHQ]DGLDWWLYLWjGLFKLDUDWHFRQORVWXGLRLQRJJHWWRTXDGUR'
•
LQFRQJUXHQ]HIUDLGDWLVWUXWWXUDOLHLGDWLFRQWDELOL
$VHJXLWRGHJOLVFDUWLHIIHWWXDWLLOQXPHURGHLPRGHOOLRJJHWWRGHOOHVXFFHVVLYHDQDOLVLqULVXOWDWRSDULD
,'(17,),&$=,21('(,*5833,202*(1(,
3HUVXGGLYLGHUHLVRJJHWWLLQJUXSSLRPRJHQHLVXOODEDVHGHJOLDVSHWWLVWUXWWXUDOLqVWDWDVHJXLWDXQDVWUDWHJLDGL
DQDOLVLFKHFRPELQDLQVHTXHQ]DGXHWHFQLFKHVWDWLVWLFKHGLWLSRPXOWLYDULDWR
•
•
XQ·DQDOLVLIDWWRULDOHGHOWLSR$QDO\VHGHVGRQQpHVHQHOODIDWWLVSHFLHO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOL
XQSURFHGLPHQWRGL&OXVWHU$QDO\VLV
/·$QDOLVL LQ &RPSRQHQWL 3ULQFLSDOL q XQD WHFQLFD VWDWLVWLFD FKH SHUPHWWH GL ULGXUUH LO QXPHUR GHOOH YDULDELOL
RULJLQDULHSXUFRQVHUYDQGRJUDQSDUWHGHOO·LQIRUPD]LRQHLQL]LDOH$WDOILQHYHQJRQRLGHQWLILFDWHQXRYHYDULDELOL
GHWWHFRPSRQHQWLSULQFLSDOLWUDORURRUWRJRQDOLOLQHDUPHQWHLQGLSHQGHQWLLQFRUUHODWH
/HYDULDELOLSUHVHLQHVDPHQHOO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOLVRQRTXHOOHSUHVHQWLLQWXWWLLTXDGULGHOPRGHOOR
DGHFFH]LRQHGHOOHYDULDELOLGHLTXDGULGHJOLHOHPHQWLFRQWDELOL7DOHVFHOWDQDVFHGDOO·HVLJHQ]DGLFDUDWWHUL]]DUHL
VRJJHWWL LQ EDVH DL SRVVLELOL PRGHOOL RUJDQL]]DWLYL DOOH GLYHUVH PRGDOLWj GL VYROJLPHQWR GHOO·DWWLYLWj HFF WDOH
FDUDWWHUL]]D]LRQH q SRVVLELOH VROR XWLOL]]DQGR OH LQIRUPD]LRQL UHODWLYH DOOH VWUXWWXUH RSHUDWLYH DO PHUFDWR GL
ULIHULPHQWRHDWXWWLTXHJOLHOHPHQWLVSHFLILFLFKHFDUDWWHUL]]DQROHGLYHUVHUHDOWjHFRQRPLFKH
1HOO·DSSOLFD]LRQH GHOO·$QDOLVL LQ &RPSRQHQWL 3ULQFLSDOL q VWDWD VFHOWD OD VROX]LRQH PLJOLRUH LQ WHUPLQL GL
VLJQLILFDWLYLWjVWDWLVWLFDHGHFRQRPLFD3HUWDQWRVRQRVWDWHVFHOWHOHFRPSRQHQWLSULQFLSDOLFKHULHVFRQRDVSLHJDUH
OD PDJJLRU SDUWH GHOOD YDULDQ]D LQL]LDOH H FKH FRQVHQWRQR VXOOD EDVH GHO FULWHULR GHOO·LQWHUSUHWDELOLWj GL
UDSSUHVHQWDUHLGLYHUVLDVSHWWLVWUXWWXUDOLGHOOHDWWLYLWjRJJHWWRGLVWXGLR
/DWHFQLFDVWDWLVWLFDGHOOD&OXVWHU$QDO\VLVDSSOLFDWDDLULVXOWDWLGHOO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOLSHUPHWWHGL
LGHQWLILFDUH JUXSSL RPRJHQHL GL VRJJHWWL FOXVWHU LQ WDO PRGR q SRVVLELOH UDJJUXSSDUH L VRJJHWWL FRQ
FDUDWWHULVWLFKHVWUXWWXUDOLHGRUJDQL]]DWLYHVLPLOL
/·XWLOL]]R FRPELQDWR GHOOH GXH WHFQLFKH q SUHIHULELOH ULVSHWWR D XQ·DSSOLFD]LRQH GLUHWWD GHOOD &OXVWHU $QDO\VLV
SRLFKpULGXFHQGRFRQO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOLLOQXPHURGLYDULDELOLVXFXLHIIHWWXDUHLOSURFHGLPHQWR
GLFODVVLILFD]LRQHO·RSHUD]LRQHGLFOXVWHULQJULVXOWDPHQRFRPSOHVVDHSLSUHFLVD
, JUXSSL RPRJHQHL LQGLYLGXDWL VRQR YDOXWDWL DQFKH LQ WHUPLQL GL VLJQLILFDWLYLWj HFRQRPLFD SHU YHULILFDUQH
O·DGHUHQ]DDOODFRQFUHWDUHDOWjVHWWRULDOH
1HO SURFHGLPHQWR GL FOXVWHULQJ DGRWWDWR TXLQGL O·RPRJHQHLWj GHL JUXSSL GHYH HVVHUH LQWHUSUHWDWD QRQ WDQWR LQ
UDSSRUWRDOOHFDUDWWHULVWLFKHGHOOHVLQJROHYDULDELOLTXDQWRLQIXQ]LRQHGHOOHSULQFLSDOLLQWHUUHOD]LRQLHVLVWHQWLWUDOH
YDULDELOLHVDPLQDWHFKHFRQFRUURQRDGHILQLUHLOSURILORGHLVLQJROLJUXSSL
1HOODIDVHGL&OXVWHU$QDO\VLVDOILQHGLJDUDQWLUHODPDVVLPDRPRJHQHLWjGHLVRJJHWWLDSSDUWHQHQWLDFLDVFXQJUXSSRYHQJRQRFODVVLILFDWH
VROR OH RVVHUYD]LRQL FKH SUHVHQWDQR FDUDWWHULVWLFKH VWUXWWXUDOL VLPLOL ULVSHWWR D TXHOOH SURSULH GL XQR VSHFLILFR JUXSSR RPRJHQHR 1RQ
YHQJRQR LQYHFH SUHVL LQ FRQVLGHUD]LRQH DL ILQL GHOOD FODVVLILFD]LRQH L VRJJHWWL FKH SRVVLHGRQR DVSHWWL VWUXWWXUDOL ULIHULELOL
FRQWHPSRUDQHDPHQWH D GXH R SL JUXSSL RPRJHQHL 8JXDOPHQWH QRQ YHQJRQR FODVVLILFDWH OH RVVHUYD]LRQL FKH SUHVHQWDQR XQ SURILOR
VWUXWWXUDOHPROWRGLVVLPLOHULVSHWWRDOO·LQVLHPHGHLFOXVWHULQGLYLGXDWL
— 155 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
/DGHVFUL]LRQHGHLJUXSSLRPRJHQHLqULSRUWDWDQHO6XE$OOHJDWR$
'(),1,=,21('(//$)81=,21(',&203(1625,&$92
8QD YROWD VXGGLYLVL L VRJJHWWL LQ JUXSSL RPRJHQHL q QHFHVVDULR GHWHUPLQDUH SHU FLDVFXQ JUXSSR RPRJHQHR OD
IXQ]LRQHPDWHPDWLFDFKHPHJOLRVLDGDWWDDOO·DQGDPHQWRGHLFRPSHQVLULFDYLGHLVRJJHWWLDSSDUWHQHQWLDOORVWHVVR
JUXSSR3HUGHWHUPLQDUHWDOHIXQ]LRQHVLqULFRUVRDOOD5HJUHVVLRQH/LQHDUH0XOWLSOD
/D 5HJUHVVLRQH /LQHDUH 0XOWLSOD q XQD WHFQLFD VWDWLVWLFD FKH SHUPHWWH GL LQWHUSRODUH L GDWL FRQ XQ PRGHOOR
VWDWLVWLFRPDWHPDWLFR FKH GHVFULYH O·DQGDPHQWR GHOOD YDULDELOH GLSHQGHQWH LQ IXQ]LRQH GL XQD VHULH GL YDULDELOL
LQGLSHQGHQWL
/DVWLPDGHOOD´IXQ]LRQHGLFRPSHQVRULFDYRµqVWDWDHIIHWWXDWDLQGLYLGXDQGRODUHOD]LRQHWUDLOFRPSHQVRULFDYR
YDULDELOHGLSHQGHQWHHLGDWLFRQWDELOLHVWUXWWXUDOLGHLFRQWULEXHQWLYDULDELOLLQGLSHQGHQWL
Ë RSSRUWXQR ULOHYDUH FKH SULPD GL GHILQLUH LO PRGHOOR GL UHJUHVVLRQH q VWDWD HIIHWWXDWD XQ·DQDOLVL VXL GDWL GHL
VRJJHWWL SHU YHULILFDUH OH FRQGL]LRQL GL FRHUHQ]D GHL GDWL QHOO·HVHUFL]LR GHOO·DWWLYLWj H SHU VFDUWDUH OH VLWXD]LRQL
DQRPDOH FLz VL q UHVR QHFHVVDULR DO ILQH GL HYLWDUH SRVVLELOL GLVWRUVLRQL QHOOD GHWHUPLQD]LRQH GHOOD ´IXQ]LRQH GL
FRPSHQVRULFDYRµ
$ WDO ILQH VRQR VWDWL VHOH]LRQDWL LQ EDVH DOOD ORUR FDSDFLWj GL LQGLYLGXDUH DQRPDOLH QHOOD UHOD]LRQH WUD OH YRFL
HVDPLQDWHLVHJXHQWLLQGLFDWRULGLQDWXUDHFRQRPLFRFRQWDELOH
/·LQGLFDWRUHVHOH]LRQDWRSHUO·DWWLYLWjGLODYRURDXWRQRPRqLOVHJXHQWH
•
,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQHVXLFRPSHQVL
/DIRUPXODGHOO·LQGLFDWRUHHFRQRPLFRFRQWDELOHqULSRUWDWDQHO6XE$OOHJDWR&
/·LQGLFDWRUHVHOH]LRQDWRSHUO·DWWLYLWjGLLPSUHVDqLOVHJXHQWH
•
,QFLGHQ]DGHLFRVWLUHVLGXDOLGLJHVWLRQHVXLULFDYL
/DIRUPXODGHOO·LQGLFDWRUHHFRQRPLFRFRQWDELOHqULSRUWDWDQHO6XE$OOHJDWR&
6XFFHVVLYDPHQWHDLILQLGHOODGHWHUPLQD]LRQHGHOFDPSLRQHGLULIHULPHQWRVRQRVWDWLHVFOXVLLVRJJHWWLFKHQRQ
ULVSHWWDYDQR OH FRQGL]LRQL GL QRUPDOLWj HFRQRPLFD DQFKH SHU XQ VROR LQGLFDWRUH GL TXHOOL VRSUD FLWDWL ,QROWUH
VRQRVWDWHHVFOXVHDQFKHOHLPSUHVHFKHSUHVHQWDYDQRLOFRVWRGHOYHQGXWRHSHUODSURGX]LRQHGLVHUYL]LQHJDWLYR
&RVuGHILQLWRLOFDPSLRQHGLULIHULPHQWRVLqSURFHGXWRDOODGHILQL]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRULFDYRµSHU
FLDVFXQJUXSSRRPRJHQHR
3HU OD GHWHUPLQD]LRQH GHOOD ´IXQ]LRQH GL FRPSHQVRULFDYRµ VRQR VWDWH XWLOL]]DWH YDULDELOL FRQWDELOL YDULDELOL
VWUXWWXUDOL H YDULDELOLWHUULWRULDOL /D VFHOWDGHOOH YDULDELOLVLJQLILFDWLYH qVWDWD HIIHWWXDWD FRQ LOPHWRGR ´VWHSZLVHµ
8QDYROWDVHOH]LRQDWHOHYDULDELOLODGHWHUPLQD]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRULFDYRµqRWWHQXWDDSSOLFDQGRLO
PHWRGRGHLPLQLPLTXDGUDWLJHQHUDOL]]DWLFKHFRQVHQWHGLFRQWUROODUHO·HYHQWXDOHSUHVHQ]DGLHWHURVFKHGDVWLFLWj
FRQQHVVDDOODYDULDELOLWjOHJDWDDGDVSHWWLGLPHQVLRQDOL
1HO6XE$OOHJDWR+YHQJRQRULSRUWDWHOHYDULDELOLHGLULVSHWWLYLFRHIILFLHQWLGHOOD´IXQ]LRQHGLFRPSHQVRµSHU
O·DWWLYLWjGLODYRURDXWRQRPR
/·LQGLFDWRUHYHULILFDODSODXVLELOLWjWUDODYRFH´DOWUHFRPSRQHQWLQHJDWLYHµHGLOWRWDOHGHLFRPSHQVL1HOFDOFRORGHOOHDOWUHFRPSRQHQWL
QHJDWLYHQRQVLWLHQHFRQWRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLLPPRELOLHDEHQLVWUXPHQWDOLPRELOL
/·LQGLFDWRUHYHULILFDFKHOHYRFLGLFRVWRUHODWLYHDJOLRQHULGLYHUVLGLJHVWLRQHHDOOHDOWUHFRPSRQHQWLQHJDWLYHFRVWLWXLVFDQRXQDSODXVLELOH
FRPSRQHQWHUHVLGXDOHGLFRVWR
9HGL VH]LRQH ´$QDOLVL GHOOD 1RUPDOLWj (FRQRPLFDµ 6L ID SUHVHQWH FKH DL VROL ILQL LQGLFDWL SHU O·LQGLFDWRUH ´,QFLGHQ]D GHOOH DOWUH
FRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQHVXLFRPSHQVLµVLIDULIHULPHQWRDLFRPSHQVLGLFKLDUDWLHSHUO·LQGLFDWRUH´,QFLGHQ]D
GHLFRVWLUHVLGXDOLGLJHVWLRQHVXLULFDYLµVLIDULIHULPHQWRDLULFDYLGLFKLDUDWLQHOGHQRPLQDWRUHGHOOHUHODWLYHIRUPXOH
,O PHWRGR VWHSZLVH XQLVFH GXH WHFQLFKH VWDWLVWLFKH SHU OD VFHOWD GHO PLJOLRU PRGHOOR GL VWLPD OD UHJUHVVLRQH IRUZDUG ´LQ DYDQWLµ H OD
UHJUHVVLRQHEDFNZDUG´LQGLHWURµ/DUHJUHVVLRQHIRUZDUGSUHYHGHGLSDUWLUHGDXQPRGHOORVHQ]DYDULDELOLHGLLQWURGXUUHSDVVRGRSRSDVVR
OD YDULDELOH SL VLJQLILFDWLYD PHQWUH OD UHJUHVVLRQH EDFNZDUG LQL]LD FRQVLGHUDQGR QHO PRGHOOR WXWWH OH YDULDELOL GLVSRQLELOL H ULPXRYHQGR
SDVVRSHUSDVVRTXHOOHQRQVLJQLILFDWLYH&RQLOPHWRGRVWHSZLVHSDUWHQGRGDXQPRGHOORGLUHJUHVVLRQHVHQ]DYDULDELOLVLSURFHGHSHUSDVVL
VXFFHVVLYLDOWHUQDQGRGXHIDVLQHOODSULPDIDVHVLLQWURGXFHODYDULDELOHPDJJLRUPHQWHVLJQLILFDWLYDIUDTXHOOHFRQVLGHUDWHQHOODVHFRQGDVL
ULHVDPLQD O·LQVLHPHGHOOHYDULDELOLLQWURGRWWHSHUYHULILFDUHVHqSRVVLELOH HOLPLQDUQHTXDOFXQDQRQSL VLJQLILFDWLYD,O SURFHVVRFRQWLQXD
ILQR D TXDQGR QRQ q SL SRVVLELOH DSSRUWDUH DOFXQD PRGLILFD DOO·LQVLHPH GHOOH YDULDELOL RYYHUR TXDQGR QHVVXQD YDULDELOH SXz HVVHUH
DJJLXQWDRSSXUHHOLPLQDWD
— 156 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
1HO 6XE $OOHJDWR + YHQJRQR ULSRUWDWH OH YDULDELOL HG L ULVSHWWLYL FRHIILFLHQWL GHOOD ´IXQ]LRQH GL ULFDYRµ SHU
O·DWWLYLWjGLLPSUHVD
— 157 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$33/,&$=,21('(//2678',2',6(7725(
,QIDVHGLDSSOLFD]LRQHGHOORVWXGLRGLVHWWRUHVRQRSUHYLVWHOHVHJXHQWLIDVL
•
•
•
•
$QDOLVL'LVFULPLQDQWH
$QDOLVLGHOOD&RHUHQ]D
$QDOLVLGHOOD1RUPDOLWj(FRQRPLFD
$QDOLVLGHOOD&RQJUXLWj
$1$/,6,',6&5,0,1$17(
8QDYROWDVXGGLYLVLLVRJJHWWLLQJUXSSLRPRJHQHLqQHFHVVDULRGHWHUPLQDUHXQDUHJRODGLFODVVLILFD]LRQHLQJUDGR
GLGHILQLUHO·DSSDUWHQHQ]DGLFLDVFXQFRQWULEXHQWHDLJUXSSLRPRJHQHLLQGLYLGXDWLQHOODIDVHGL&OXVWHU$QDO\VLVOD
GHVFUL]LRQHGHLJUXSSLRPRJHQHLqULSRUWDWDQHO6XE$OOHJDWR$
$OULJXDUGRqVWDWDXWLOL]]DWDO·DQDOLVLGLVFULPLQDQWHOLQHDUHGL)LVKHU6LWUDWWDGLXQDWHFQLFDVWDWLVWLFDPXOWLYDULDWD
XWLOHSHULGHQWLILFDUHTXHOOHYDULDELOLFKHPHJOLRGLVFULPLQDQRLJUXSSLRPRJHQHL
1HOO·DQDOLVLGLVFULPLQDQWHOLQHDUHSHURJQLJUXSSRRPRJHQHRYLHQHFDOFRODWDXQDIXQ]LRQHGLFODVVLILFD]LRQHFRPH
FRPELQD]LRQHOLQHDUHGHOOHYDULDELOLGLVFULPLQDQWL
6XOOD EDVH GHL SXQWHJJL GLVFULPLQDQWL RWWHQXWL XWLOL]]DQGR WDOH IXQ]LRQH YLHQH GHWHUPLQDWD OD SUREDELOLWj GL
DSSDUWHQHQ]D DL JUXSSL RPRJHQHL ,Q WDO PRGR q SRVVLELOH DVVRFLDUH RJQL VLQJROR FRQWULEXHQWH DG XQR R SL
JUXSSLRPRJHQHLGHILQHQGROHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]D
1HO 6XE $OOHJDWR % YHQJRQR ULSRUWDWH OH YDULDELOL ULVXOWDWH VLJQLILFDWLYH QHOO·DQDOLVL FRQ L ULVSHWWLYL SHVL
GLVFULPLQDQWLLQGLYLGXDWLSHURJQLJUXSSRRPRJHQHR
$1$/,6,'(//$&2(5(1=$
/·DQDOLVLGHOODFRHUHQ]DSHUPHWWHGLYDOXWDUHLFRQWULEXHQWLVXOODEDVHGLVSHFLILFLLQGLFDWRULHFRQRPLFLFDOFRODWL
FRPHUDSSRUWRWUDGHWHUPLQDWHYDULDELOLFRQWDELOLHRVWUXWWXUDOLFRQWHQXWHQHOPRGHOORSHUODFRPXQLFD]LRQHGHL
GDWLULOHYDQWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUH*OLLQGLFDWRULSHULSURIHVVLRQLVWLVRQRVWDWLVHOH]LRQDWL
LQ EDVH DOOD ORUR FDSDFLWj GL PLVXUDUH O·HIILFLHQ]D H OD UHGGLWLYLWj GHOO·DWWLYLWj SURIHVVLRQDOH JOL LQGLFDWRUL SHU OH
LPSUHVH LQ EDVH DOOD ORUR FDSDFLWj GL PLVXUDUH O·HIILFLHQ]D OD SURGXWWLYLWj H OD UHGGLWLYLWj QHOOR VYROJLPHQWR
GHOO·DWWLYLWjHFRQRPLFD
&RQO·DQDOLVLGHOODFRHUHQ]DSHUFLDVFXQVRJJHWWRVLYDOXWDLOSRVL]LRQDPHQWRGHOYDORUHGLRJQLVLQJRORLQGLFDWRUH
ULVSHWWRDGXQLQWHUYDOORLQGLYLGXDWRFRPHHFRQRPLFDPHQWHFRHUHQWHVXOODEDVHGHLYDORULVRJOLDDPPLVVLELOL
*OLLQGLFDWRULXWLOL]]DWLQHOO·DQDOLVLGHOODFRHUHQ]DSHUO·DWWLYLWjGLODYRURDXWRQRPRVRQRLVHJXHQWL
•
&RPSHQVLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQFRQGRPLQLRFRQROWUHXQLWjLPPRELOLDUL
/HYDULDELOLGLVFULPLQDQWLYHQJRQRVHOH]LRQDWHFRQLOPHWRGRVWHSZLVHSDUWHQGRGDTXHOOHXWLOL]]DWHQHOO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOL
/DIXQ]LRQHGLFODVVLILFD]LRQHqGHILQLWDQHOVHJXHQWHPRGR
ZL DLDLYDUGLVDLYDUGLVDLPYDUGLVP
GRYH
ZLqLOSXQWHJJLRGLVFULPLQDQWHUHODWLYRDOJUXSSRRPRJHQHRL
DLqO·LQWHUFHWWD
DLMVRQRLSHVLGLVFULPLQDQWLVFHOWLLQPRGRGDUHQGHUHPDVVLPDODVHSDUD]LRQHWUDLJUXSSL
YDUGLVMqODMHVLPDYDULDELOHGLVFULPLQDQWH
/DSUREDELOLWjGLDSSDUWHQHQ]DDOJUXSSRRPRJHQHRLqFDOFRODWDQHOVHJXHQWHPRGR
H {Z L − 0D[ [Z Z Z Q ]}
3URE L =
{Z − 0D[ [Z Z Z Q ]} ¦ NQ = H N
GRYHQqLOQXPHURFRPSOHVVLYRGLJUXSSLRPRJHQHL
/HSUREDELOLWjGLDSSDUWHQHQ]DDLFOXVWHUVRQRDUURWRQGDWHDOODTXLQWDFLIUDGHFLPDOH
— 158 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
•
&RPSHQVLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQFRQGRPLQLRILQRDXQLWjLPPRELOLDUL
•
,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVL
•
,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWL
•
0DUJLQHGHOSURIHVVLRQLVWD²LQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWR
•
•
5HQGLPHQWR ORUGR SHU DGGHWWR ² LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R
DVVLPLODWR
5HVDRUDULDSHUDGGHWWR
/HIRUPXOHGHJOLLQGLFDWRULXWLOL]]DWLVRQRULSRUWDWHQHO6XE$OOHJDWR&
*OLLQGLFDWRULXWLOL]]DWLQHOO·DQDOLVLGHOODFRHUHQ]DSHUO·DWWLYLWjGLLPSUHVDVRQRLVHJXHQWL
•
•
•
•
•
,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWL
0DUJLQHSHUDGGHWWRQRQGLSHQGHQWH²LQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRUR
5LFDYLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQFRQGRPLQLRFRQROWUHXQLWjLPPRELOLDUL
5LFDYLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQFRQGRPLQLRILQRDXQLWjLPPRELOLDUL
9DORUHDJJLXQWRORUGRSHUDGGHWWR²LQSUHVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRUR
/HIRUPXOHGHJOLLQGLFDWRULXWLOL]]DWLVRQRULSRUWDWHQHO6XE$OOHJDWR&
$LILQLGHOODLQGLYLGXD]LRQHGHLYDORULVRJOLDFKHGHILQLVFRQRODFRHUHQ]DHFRQRPLFDSHUFLDVFXQRGHJOLLQGLFDWRUL
XWLOL]]DWLVRQRVWDWHHVDPLQDWHSUHOLPLQDUPHQWHDGHFFH]LRQHGHOO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHOFRVWRSHULO
/·LQGLFDWRUHPLVXUDO·DPPRQWDUHGHLFRPSHQVLSHUFHSLWLGDOORVWXGLRSURIHVVLRQDOHSHUO·DPPLQLVWUD]LRQHGLXQFRQGRPLQLRFRQROWUH
XQLWjLPPRELOLDULUHODWLYDPHQWHDOODVRODJHVWLRQHRUGLQDULD
/·LQGLFDWRUHPLVXUDO·DPPRQWDUHGHLFRPSHQVLSHUFHSLWLGDOORVWXGLRSURIHVVLRQDOHSHUO·DPPLQLVWUD]LRQHGLXQFRQGRPLQLRILQRD
XQLWjLPPRELOLDULUHODWLYDPHQWHDOODVRODJHVWLRQHRUGLQDULD
/·LQGLFDWRUH PLVXUD LO SHVR GHO WRWDOH GHOOH VSHVH VRVWHQXWH GDOOR VWXGLR SURIHVVLRQDOH DO QHWWR GHOOH VSHVH SHU FDQRQL GL ORFD]LRQH
ILQDQ]LDULDHQRQILQDQ]LDULDVXLFRPSHQVLFRPSOHVVLYDPHQWHLQFDVVDWL
/·LQGLFDWRUH PLVXUD LO JUDGR GL FRSHUWXUD GHL SULQFLSDOL FRVWL SHU O·XWLOL]]R GL EHQL VWUXPHQWDOL DOO·DWWLYLWj GHOOR VWXGLR SURIHVVLRQDOH
PHGLDQWH LO ´PDUJLQHµ DO QHWWR GHOOD UHPXQHUD]LRQH ULWHQXWD HFRQRPLFDPHQWH SODXVLELOH GHO WLWRODUH R GHL VRFLDVVRFLDWL GHOOR VWXGLR
SURIHVVLRQDOH
/·LQGLFDWRUH PLVXUD LO FRQWULEXWR GHO WLWRODUH R GHL VRFLDVVRFLDWL GHOOR VWXGLR SURIHVVLRQDOH DOOD FUHD]LRQH GHO ´PDUJLQHµ RYYHUR
UDSSUHVHQWDODFDSDFLWjGLUHPXQHUDUHDOORUGRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLPRELOLHLPPRELOLHGHJOL
DPPRUWDPHQWLODSURSULDDWWLYLWjSURIHVVLRQDOH
7DOH LQGLFDWRUH VL DSSOLFD VROR LQ DVVHQ]D GL ´6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWHµ H ´6SHVH SHU SUHVWD]LRQL GL FROODERUD]LRQH
FRRUGLQDWDHFRQWLQXDWLYDµ
/·LQGLFDWRUHPLVXUDLOYDORUHSURGRWWRGDOORVWXGLRSURIHVVLRQDOHGHVWLQDWRDUHPXQHUDUHROWUHLOWLWRODUHRVRFLDVVRFLDWL DQFKHTXHL
IDWWRUL FKH FRQWULEXLVFRQR D JHQHUDUH YDORUH FRPH LO ODYRUR VRWWR IRUPD GL VWLSHQGL FRQWULEXWL LQGHQQLWj GL ILQH UDSSRUWR HG L EHQL
VWUXPHQWDOLDOO·DWWLYLWjVRWWRIRUPDQHOFDVRGLJRGLPHQWRGLEHQLGLWHU]LGLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQL
LPPRELOLHRDEHQLVWUXPHQWDOLPRELOLHQHOFDVRGLJRGLPHQWRGLEHQLLQSURSULHWjGLDPPRUWDPHQWL
7DOHLQGLFDWRUHVLDSSOLFDVRORLQSUHVHQ]DGL´6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHµHR´6SHVHSHUSUHVWD]LRQLGLFROODERUD]LRQH
FRRUGLQDWDHFRQWLQXDWLYDµ
/·LQGLFDWRUH PLVXUD O·DPPRQWDUH GHL FRPSHQVL SHUFHSLWL GDOOR VWXGLR SURIHVVLRQDOH SHU L VHUYL]L HURJDWL GD FLDVFXQ DGGHWWR QHOO·DUFR
WHPSRUDOHGLXQ·RUD
/·LQGLFDWRUHPLVXUDLOJUDGRGLFRSHUWXUDGHLSULQFLSDOLFRVWLSHUO·XWLOL]]RGLEHQLVWUXPHQWDOLDOO·DWWLYLWjGHOO·LPSUHVDPHGLDQWHLO0DUJLQH
DOQHWWRGHOODUHPXQHUD]LRQHULWHQXWDHFRQRPLFDPHQWHSODXVLELOHGHJOLDGGHWWLQRQGLSHQGHQWL
/·LQGLFDWRUH PLVXUD LO FRQWULEXWR GL FLDVFXQ DGGHWWR QRQ GLSHQGHQWH DOOD FUHD]LRQH GHO ´PDUJLQHµ RYYHUR UDSSUHVHQWD OD FDSDFLWj
GHOO·LPSUHVDGLUHPXQHUDUHDOORUGRGHOFRVWRSHUJRGLPHQWRGLEHQLGLWHU]LGHJOLDPPRUWDPHQWLGHJOLDFFDQWRQDPHQWLHGHOO·HYHQWXDOH
ULVXOWDWRQHJDWLYRGHOODJHVWLRQHILQDQ]LDULDHVWUDRUGLQDULDLOODYRURQRQGLSHQGHQWH
7DOHLQGLFDWRUHVL DSSOLFDVRORLQ DVVHQ]DGL´6SHVHSHUODYRURGLSHQGHQWHHSHUDOWUHSUHVWD]LRQLGLYHUVHGDODYRURGLSHQGHQWHDIIHUHQWL
O
DWWLYLWjGHOO
LPSUHVDµDOQHWWRGHL´&RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjGLSHUVRQHµ
/·LQGLFDWRUHIRUQLVFHXQDPLVXUDGHLULFDYLGHULYDQWLGDOO·DPPLQLVWUD]LRQHGLXQFRQGRPLQLRFRQROWUHXQLWjLPPRELOLDULUHODWLYDPHQWH
DOODVRODJHVWLRQHRUGLQDULD
/·LQGLFDWRUHIRUQLVFHXQDPLVXUDGHLULFDYLGHULYDQWLGDOO·DPPLQLVWUD]LRQHGLXQFRQGRPLQLRILQRDXQLWjLPPRELOLDULUHODWLYDPHQWH
DOODVRODJHVWLRQHRUGLQDULD
/·LQGLFDWRUHPLVXUDODFUHD]LRQHGHOYDORUHFRQULIHULPHQWRDOFRQWULEXWRGLFLDVFXQDGGHWWR,OYDORUHDJJLXQWRORUGRUDSSUHVHQWDLQIDWWL
LOYDORUHFKHXQ·D]LHQGDDJJLXQJHFRQO·LPSLHJRGHLIDWWRULSURGXWWLYLDOYDORUHGHLEHQLHGHLVHUYL]LFKHDFTXLVLVFHFRQVXPLGLPDWHULH
SULPH H PHUFL DFTXLVWL SL YDULD]LRQL GL ULPDQHQ]H H SUHVWD]LRQL GL VHUYL]L HQHUJLD VHUYL]L GL SXOL]LD HFF 0LVXUD TXLQGL OD FDSDFLWj
GHOO·LPSUHVD GL UHPXQHUDUH TXHL IDWWRUL FKH FRQWULEXLVFRQR D JHQHUDUH YDORUH DG HVHPSLR LO ODYRUR VRWWR IRUPD GL VDODUL VWLSHQGL
FRQWULEXWLLQGHQQLWjGLILQHUDSSRUWRLILQDQ]LDPHQWLGLWHU]LVRWWRIRUPDGLLQWHUHVVLLILQDQ]LDPHQWLGLFDSLWDOHGLULVFKLRVRWWRIRUPD
GLXWLOLHFF
7DOHLQGLFDWRUHVLDSSOLFDVRORLQSUHVHQ]DGL´6SHVHSHUODYRURGLSHQGHQWHHSHUDOWUHSUHVWD]LRQLGLYHUVHGDODYRURGLSHQGHQWHDIIHUHQWL
O
DWWLYLWjGHOO
LPSUHVDµDOQHWWRGHL´&RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjGLSHUVRQHµ
— 159 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
JRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWLµOHUHODWLYHGLVWULEX]LRQLYHQWLOLFKHGLIIHUHQ]LDWHSHUJUXSSR
RPRJHQHR SHU JOL LQGLFDWRUL ´&RPSHQVL SHU DPPLQLVWUD]LRQH RUGLQDULD GL XQ FRQGRPLQLR FRQ ROWUH XQLWj
LPPRELOLDULµ ´&RPSHQVL SHU DPPLQLVWUD]LRQH RUGLQDULD GL XQ FRQGRPLQLR ILQR D XQLWj LPPRELOLDULµ
´0DUJLQH GHO SURIHVVLRQLVWD ² LQ DVVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R DVVLPLODWRµ
´5HQGLPHQWR ORUGR SHU DGGHWWR ² LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R DVVLPLODWRµ
´0DUJLQH SHU DGGHWWR QRQ GLSHQGHQWH ² LQ DVVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRURµ ´5LFDYL SHU
DPPLQLVWUD]LRQH RUGLQDULD GL XQ FRQGRPLQLR FRQ ROWUH XQLWj LPPRELOLDULµ ´5LFDYL SHU DPPLQLVWUD]LRQH
RUGLQDULDGLXQFRQGRPLQLRILQRDXQLWjLPPRELOLDULµH´9DORUHDJJLXQWRORUGRSHUDGGHWWR LQSUHVHQ]DGL
VSHVH SHU SUHVWD]LRQL GL ODYRURµ DQFKH VXOOD EDVH GHOOD ´7HUULWRULDOLWj JHQHUDOHµ D OLYHOOR FRPXQDOH SHU
O·LQGLFDWRUH ´,QFLGHQ]D GHOOH VSHVH VXL FRPSHQVLµ DQFKH VXOOD EDVH GHOOD SUHVHQ]DDVVHQ]D GL IRU]D ODYRUR ,
YDORULGHOOHVRJOLHGHLGLYHUVLLQGLFDWRULVRQRVWDWLLQGLYLGXDWLDGHFFH]LRQHGHOO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHO
FRVWR SHU LO JRGLPHQWR GL EHQL GL WHU]L H GHJOL DPPRUWDPHQWLµ VFHJOLHQGR TXHOOL FKH SRVVRQR ULWHQHUVL
HFRQRPLFDPHQWH SODXVLELOL FRQ ULIHULPHQWR DOOH SUDWLFKH RVVHUYDELOL QHO VHWWRUH H QHO FOXVWHU VSHFLILFR 3HU JOL
LQGLFDWRUL ´&RPSHQVL SHU DPPLQLVWUD]LRQH RUGLQDULD GL XQ FRQGRPLQLR FRQ ROWUH XQLWj LPPRELOLDULµ
´&RPSHQVL SHU DPPLQLVWUD]LRQH RUGLQDULD GL XQ FRQGRPLQLR ILQR D XQLWj LPPRELOLDULµ ´0DUJLQH GHO
SURIHVVLRQLVWD²LQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWRµ´5HQGLPHQWRORUGRSHU
DGGHWWR ² LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R DVVLPLODWRµ ´0DUJLQH SHU DGGHWWR QRQ
GLSHQGHQWH ² LQ DVVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRURµ ´5LFDYL SHU DPPLQLVWUD]LRQH RUGLQDULD GL XQ
FRQGRPLQLRFRQROWUHXQLWjLPPRELOLDULµ´5LFDYLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQFRQGRPLQLRILQRD
XQLWj LPPRELOLDULµ H ´9DORUH DJJLXQWR ORUGR SHU DGGHWWR ² LQ SUHVHQ]D GLVSHVH SHU SUHVWD]LRQL GL ODYRURµVL q
LQROWUHWHQXWRFRQWRGHOO·DUHDWHUULWRULDOHGLDSSDUWHQHQ]DSHUO·LQGLFDWRUH´,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVLµVL
q LQYHFH WHQXWR FRQWR SULQFLSDOPHQWH GHO GLYHUVR DPPRQWDUH GHOOH VSHVH VRVWHQXWH GDL FRQWULEXHQWL FKH VL
DYYDOJRQRGLGLSHQGHQWLHRFROODERUDWRULULVSHWWRDFRORURFKHQRQVHQHDYYDOJRQR
/HGLVWULEX]LRQLYHQWLOLFKHGHJOLLQGLFDWRULGLFRHUHQ]DHFRQRPLFDYHQJRQRULSRUWDWHQHO6XE$OOHJDWR'SHU
O·DWWLYLWjGLODYRURDXWRQRPRHQHO6XE$OOHJDWR'SHUO·DWWLYLWjGLLPSUHVD
,YDORULVRJOLDGLFRHUHQ]DDPPLVVLELOLVRQRULSRUWDWLQHO6XE$OOHJDWR(SHUO·DWWLYLWjGLODYRURDXWRQRPRHQHO
6XE$OOHJDWR(SHUO·DWWLYLWjGLLPSUHVD
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´&RPSHQVLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQFRQGRPLQLRFRQROWUH
XQLWj LPPRELOLDULµ VH O·LQGLFDWRUH q FDOFRODELOH H VH LO VXR YDORUH VL SRVL]LRQD DOO·LQWHUQR GHOO·LQWHUYDOOR
LQGLYLGXDWRFRPHHFRQRPLFDPHQWHFRHUHQWH1HOFDVRLQFXLO·LQGLFDWRUHULVXOWLLQGHWHUPLQDWRLOVRJJHWWRYLHQH
GHILQLWRFRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´&RPSHQVLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQFRQGRPLQLRILQRD
XQLWjLPPRELOLDULµVHO·LQGLFDWRUHqFDOFRODELOHHVHLOVXRYDORUHVLSRVL]LRQDDOO·LQWHUQRGHOO·LQWHUYDOORLQGLYLGXDWR
FRPH HFRQRPLFDPHQWH FRHUHQWH 1HO FDVR LQ FXL O·LQGLFDWRUH ULVXOWL LQGHWHUPLQDWR LO VRJJHWWR YLHQH GHILQLWR
FRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVLµVHO·LQGLFDWRUHqFDOFRODELOHHVHLO
VXRYDORUHVLSRVL]LRQDDOO·LQWHUQRGHOO·LQWHUYDOORLQGLYLGXDWRFRPHHFRQRPLFDPHQWHFRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWLµWDQWRSHUO·DWWLYLWjGLLPSUHVDFKHSHUO·DWWLYLWjGLODYRURDXWRQRPRVHLOYDORUHGHOO·LQGLFDWRUHq
PDJJLRUHRXJXDOHD1HOFDVRLQFXLO·LQGLFDWRUHULVXOWLQRQFDOFRODELOHFRQLO0DUJLQHQHWWRPDJJLRUHGL]HURR
O·LQGLFDWRUH ULVXOWL LQGHWHUPLQDWR LO VRJJHWWR YLHQH GHILQLWR FRHUHQWH 1HO FDVR LQ FXL O·LQGLFDWRUH ULVXOWL QRQ
FDOFRODELOHFRQLO0DUJLQHQHWWRPLQRUHGL]HURLOVRJJHWWRYLHQHGHILQLWRQRQFRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUJOLLQGLFDWRUL´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGL
ODYRURGLSHQGHQWHRDVVLPLODWRµH´5HQGLPHQWRORUGRSHUDGGHWWRLQSUHVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRUR
1HOOD WHUPLQRORJLD VWDWLVWLFD VL GHILQLVFH ´GLVWULEX]LRQH YHQWLOLFDµ O·LQVLHPH GHL YDORUL FKH VXGGLYLGRQR OH RVVHUYD]LRQL RUGLQDWH SHU
YDORULFUHVFHQWLGHOO·LQGLFDWRUHLQJUXSSLGLXJXDOHQXPHURVLWj,OSULPRYHQWLOHqLOYDORUHDOGLVRWWRGHOTXDOHVLSRVL]LRQDLOSULPR
GHOOHRVVHUYD]LRQLLOVHFRQGRYHQWLOHqLOYDORUHDOGLVRWWRGHOTXDOHVLSRVL]LRQDLOSULPRGHOOHRVVHUYD]LRQLHFRVuYLD
,FULWHULHOHFRQFOXVLRQLGHOORVWXGLRVRQRULSRUWDWLQHOO·DSSRVLWR'HFUHWR0LQLVWHULDOH
/D SUHVHQ]D GL IRU]D ODYRUR q FRQGL]LRQDWD DOOD SUHVHQ]D GL 6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R 6SHVH SHU SUHVWD]LRQL GL
FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD R &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H
DUWLVWLFD
8QLQGLFDWRUHVLGHILQLVFHLQGHWHUPLQDWRTXDQGRQHOUDSSRUWRQXPHUDWRUHGLYLVRGHQRPLQDWRUHLOQXPHUDWRUHHLOGHQRPLQDWRUHVRQR
HQWUDPELSDULD]HUR
8Q LQGLFDWRUH VL GHILQLVFH QRQ FDOFRODELOH TXDQGR QHO UDSSRUWR QXPHUDWRUH GLYLVR GHQRPLQDWRUH LO GHQRPLQDWRUH q SDUL D ]HUR H LO
QXPHUDWRUHqGLYHUVRGD]HUR
— 160 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
GLSHQGHQWHRDVVLPLODWRµVHLOYDORUHGHJOLLQGLFDWRULqPDJJLRUHRXJXDOHDOODVRJOLDPLQLPDLQGLYLGXDWD1HOFDVR
LQFXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµULVXOWLSDULD]HURLOVRJJHWWRYLHQHGHILQLWR
FRHUHQWH
,O VRJJHWWR ULVXOWD FRHUHQWH SHU O·LQGLFDWRUH ´0DUJLQH SHU DGGHWWR QRQ GLSHQGHQWH LQ DVVHQ]D GL VSHVH SHU
SUHVWD]LRQLGLODYRURµVHLOYDORUHGHOO·LQGLFDWRUHqPDJJLRUHRXJXDOHDOODVRJOLDPLQLPDLQGLYLGXDWD1HOFDVRLQ
FXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµULVXOWLSDULD]HURLOVRJJHWWRYLHQHGHILQLWR
FRHUHQWH1HOFDVRLQFXLO·LQGLFDWRUHULVXOWLQRQFDOFRODELOH FRQLO0DUJLQHPDJJLRUHGL]HURRO·LQGLFDWRUHULVXOWL
LQGHWHUPLQDWRLOVRJJHWWRYLHQHGHILQLWRFRHUHQWH1HOFDVRLQFXLO·LQGLFDWRUHULVXOWLQRQFDOFRODELOHFRQLO0DUJLQH
PLQRUHGL]HURLOVRJJHWWRYLHQHGHILQLWRQRQFRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´5HVDRUDULDSHUDGGHWWRµVHLOYDORUHGHOO·LQGLFDWRUHqPLQRUHRXJXDOH
DOODVRJOLDPDVVLPDLQGLYLGXDWD1HOFDVRLQFXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµ
ULVXOWLSDULD]HURLOVRJJHWWRYLHQHGHILQLWRFRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´5LFDYLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQFRQGRPLQLRFRQROWUH
XQLWjLPPRELOLDULµVHO·LQGLFDWRUHqFDOFRODELOHHVHLOVXRYDORUHVLSRVL]LRQDDOO·LQWHUQRGHOO·LQWHUYDOORLQGLYLGXDWR
FRPH HFRQRPLFDPHQWH FRHUHQWH 1HO FDVR LQ FXL O·LQGLFDWRUH ULVXOWL LQGHWHUPLQDWR LO VRJJHWWR YLHQH GHILQLWR
FRHUHQWH
,O VRJJHWWRULVXOWD FRHUHQWH SHU O·LQGLFDWRUH ´5LFDYL SHU DPPLQLVWUD]LRQH RUGLQDULD GL XQ FRQGRPLQLR ILQR D XQLWjLPPRELOLDULµVHO·LQGLFDWRUHqFDOFRODELOHHVHLOVXRYDORUHVLSRVL]LRQDDOO·LQWHUQRGHOO·LQWHUYDOORLQGLYLGXDWR
FRPH HFRQRPLFDPHQWH FRHUHQWH 1HO FDVR LQ FXL O·LQGLFDWRUH ULVXOWL LQGHWHUPLQDWR LO VRJJHWWR YLHQH GHILQLWR
FRHUHQWH
,O VRJJHWWR ULVXOWD FRHUHQWH SHU O·LQGLFDWRUH ´9DORUH DJJLXQWR ORUGR SHU DGGHWWR LQ SUHVHQ]D GL VSHVH SHU
SUHVWD]LRQL GL ODYRURµ VH LO YDORUH GHOO·LQGLFDWRUH VL SRVL]LRQD DOO·LQWHUQR GHOO·LQWHUYDOOR LQGLYLGXDWR FRPH
HFRQRPLFDPHQWHFRHUHQWH1HOFDVRLQFXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµULVXOWL
SDULD]HURLOVRJJHWWRYLHQHGHILQLWRFRHUHQWH
,Q DSSOLFD]LRQH SHU RJQL VLQJROR VRJJHWWR L YDORUL VRJOLD GL FLDVFXQ LQGLFDWRUH GL FRHUHQ]D HFRQRPLFD VRQR
RWWHQXWLFRPHPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHLYDORULGLULIHULPHQWRLQGLYLGXDWL
SHUJUXSSRRPRJHQHR3HUJOLLQGLFDWRUL´&RPSHQVLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQFRQGRPLQLRFRQROWUH
XQLWjLPPRELOLDULµ´&RPSHQVLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQFRQGRPLQLRILQRDXQLWjLPPRELOLDULµ
´0DUJLQH GHO SURIHVVLRQLVWD ² LQ DVVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R DVVLPLODWRµ
´5HQGLPHQWR ORUGR SHU DGGHWWR ² LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R DVVLPLODWRµ
´0DUJLQH SHU DGGHWWR QRQ GLSHQGHQWH ² LQ DVVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRURµ ´5LFDYL SHU
DPPLQLVWUD]LRQH RUGLQDULD GL XQ FRQGRPLQLR FRQ ROWUH XQLWj LPPRELOLDULµ ´5LFDYL SHU DPPLQLVWUD]LRQH
RUGLQDULDGLXQFRQGRPLQLRILQRDXQLWjLPPRELOLDULµH´9DORUHDJJLXQWRORUGRSHUDGGHWWR²LQSUHVHQ]DGL
VSHVH SHU SUHVWD]LRQL GL ODYRURµ WDOL YDORUL VRJOLD YHQJRQR SRQGHUDWL DQFKH VXOOD EDVH GHOOD SHUFHQWXDOH GL
DSSDUWHQHQ]DDOOHGLYHUVHDUHHWHUULWRULDOL
$1$/,6,'(//$1250$/,7­(&2120,&$
/·DQDOLVLGHOODQRUPDOLWjHFRQRPLFDqPLUDWDDGLQGLYLGXDUHODFRUUHWWH]]DGHLGDWLGLFKLDUDWL$WDOILQHSHURJQL
VLQJRORVRJJHWWRYHQJRQRFDOFRODWLLQGLFDWRULHFRQRPLFRFRQWDELOLGDFRQIURQWDUHFRQLYDORULGLULIHULPHQWRFKH
LQGLYLGXDQROHFRQGL]LRQLGLQRUPDOLWjHFRQRPLFD
*OL LQGLFDWRUL GL QRUPDOLWj HFRQRPLFD VRQR VWDWL SHUWDQWR VHOH]LRQDWL LQ EDVH DOOD ORUR FDSDFLWj GL LQGLYLGXDUH
DQRPDOLHQHOODUHOD]LRQHWUDOHYRFLHVDPLQDWH
/·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFDLQGLYLGXDWRSHUO·DWWLYLWjGLODYRURDXWRQRPRqLOVHJXHQWH
•
,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQHVXLFRPSHQVL
/DIRUPXODGHOO·LQGLFDWRUHXWLOL]]DWRqULSRUWDWDQHO6XE$OOHJDWR&
/·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFDLQGLYLGXDWRSHUO·DWWLYLWjGLLPSUHVDqLOVHJXHQWH
*OLLQGLFDWRULVRQRDUURWRQGDWLDOODVHFRQGDFLIUDGHFLPDOH
/·LQGLFDWRUHYHULILFDODSODXVLELOLWjWUDODYRFH´DOWUHFRPSRQHQWLQHJDWLYHµHGLOWRWDOHGHLFRPSHQVL1HOFDOFRORGHOOHDOWUHFRPSRQHQWL
QHJDWLYHQRQVLWLHQHFRQWRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLLPPRELOLHDEHQLVWUXPHQWDOLPRELOL
— 161 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
•
Serie generale - n. 301
,QFLGHQ]DGHLFRVWLUHVLGXDOLGLJHVWLRQHVXLULFDYL
/DIRUPXODGHOO·LQGLFDWRUHXWLOL]]DWRqULSRUWDWDQHO6XE$OOHJDWR&
$LILQLGHOO·LQGLYLGXD]LRQHGHLYDORULGLULIHULPHQWRSHUJOLLQGLFDWRULGLQRUPDOLWjHFRQRPLFDVRQRVWDWHHVDPLQDWH
SUHOLPLQDUPHQWHOHUHODWLYH GLVWULEX]LRQLYHQWLOLFKHGLIIHUHQ]LDWHSHUJUXSSRRPRJHQHR,YDORULGHOOHVRJOLHGHL
GLYHUVL LQGLFDWRUL VRQR VWDWL LQGLYLGXDWL VFHJOLHQGR TXHOOL FKH SRVVRQR ULWHQHUVL HFRQRPLFDPHQWH SODXVLELOL FRQ
ULIHULPHQWRDOOHSUDWLFKHRVVHUYDELOLQHOVHWWRUHHQHOFOXVWHUVSHFLILFR
/HGLVWULEX]LRQLYHQWLOLFKHGHJOLLQGLFDWRULGLQRUPDOLWjHFRQRPLFDYHQJRQRULSRUWDWHQHO6XE$OOHJDWR)SHU
O·DWWLYLWjGLODYRURDXWRQRPRHQHO6XE$OOHJDWR)SHUO·DWWLYLWjGLLPSUHVD
,YDORULVRJOLDGLQRUPDOLWjHFRQRPLFDVRQRULSRUWDWLQHO6XE$OOHJDWR*SHUO·DWWLYLWjGLODYRURDXWRQRPRH
QHO6XE$OOHJDWR*SHUO·DWWLYLWjGLLPSUHVD
,Q DSSOLFD]LRQH SHU RJQL VLQJROR VRJJHWWR L YDORUL VRJOLD GL FLDVFXQ LQGLFDWRUH GL QRUPDOLWj HFRQRPLFD VRQR
RWWHQXWLFRPHPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHLYDORULGLULIHULPHQWRLQGLYLGXDWL
SHUJUXSSRRPRJHQHR
&LDVFXQRGLTXHVWLLQGLFDWRULSXzGHWHUPLQDUHPDJJLRULFRPSHQVLULFDYLFKHVLVRPPDQRDOFRPSHQVRULFDYR
SXQWXDOHHDOFRPSHQVRULFDYRPLQLPRVWLPDWLFRQO·DQDOLVLGHOODFRQJUXLWjVXFFHVVLYDPHQWHGHVFULWWD
$WWLYLWjGLODYRURDXWRQRPR
,1&,'(1=$ '(//( $/75( &20321(17, 1(*$7,9( $/ 1(772 '(, &$121, ', /2&$=,21(
68,&203(16,
3HU RJQL FRQWULEXHQWH VL GHWHUPLQD LO YDORUH PDVVLPR DPPLVVLELOH SHU OD YDULDELOH ´$OWUH FRPSRQHQWL QHJDWLYH
QHWWHµ PROWLSOLFDQGR OD VRJOLD PDVVLPD GL QRUPDOLWj HFRQRPLFD GHOO·LQGLFDWRUH GLYLVD SHU L ´&RPSHQVL GD
FRQJUXLWjµ
1HOFDVRLQFXLLOYDORUHGLFKLDUDWRGHOOH´$OWUHFRPSRQHQWLQHJDWLYHQHWWHµVLSRVL]LRQLDOGLVRSUDGLGHWWRYDORUH
PDVVLPR DPPLVVLELOH OD SDUWH GL VSHVH HFFHGHQWH WDOH YDORUH FRVWLWXLVFH SDUDPHWUR GL ULIHULPHQWR SHU OD
GHWHUPLQD]LRQHGHLPDJJLRULFRPSHQVLGDQRUPDOLWjHFRQRPLFDFDOFRODWLPROWLSOLFDQGRWDOHSDUWHHFFHGHQWHSHULO
UHODWLYRFRHIILFLHQWH
7DOHFRHIILFLHQWHqVWDWRLQGLYLGXDWRGLVWLQWDPHQWHSHUJUXSSRRPRJHQHRFOXVWHUFRPHUDSSRUWRWUDODVRPPD
GHL FRPSHQVLSXQWXDOL FDOFRODWL DSSOLFDQGR D WXWWL L VRJJHWWL GHO FOXVWHU ODVSHFLILFD IXQ]LRQH GL FRPSHQVR FRQ
O·XWLOL]]RGHOOHVROHYDULDELOLFRQWDELOLGLVSHVDHODVRPPDGHOOHVWHVVHYDULDELOLFRQWDELOLGLVSHVDYHGLWDEHOOD
7DEHOOD²&RHIILFLHQWLGLGHWHUPLQD]LRQHGHLPDJJLRULFRPSHQVL
GDDSSOLFDUVLDOOHDOWUHFRPSRQHQWLQHJDWLYHQHWWH
&OXVWHU
&RHIILFLHQWH
,QDSSOLFD]LRQHSHURJQLFRQWULEXHQWHLOFRHIILFLHQWHGLGHWHUPLQD]LRQHGHLPDJJLRULFRPSHQVLqRWWHQXWRFRPH
PHGLD SRQGHUDWD FRQ OH UHODWLYH SUREDELOLWj GL DSSDUWHQHQ]D GHL FRHIILFLHQWL LQGLYLGXDWL SHU RJQL JUXSSR
RPRJHQHR
/·LQGLFDWRUH YHULILFD
FKH OH YRFL GL FRVWR UHODWLYH DJOL RQHUL GLYHUVL GL JHVWLRQH H DOOH DOWUH FRPSRQHQWL QHJDWLYH FRVWLWXLVFDQR XQD
SODXVLELOHFRPSRQHQWHUHVLGXDOHGLFRVWR
/HYDULDELOLQXPHULFKHULIHULWHDGLPSRUWLLQHXURVRQRDUURWRQGDWHDOYDORUHLQWHUR
&RPSHQVLGDFRQJUXLWj &RPSHQVRSXQWXDOHGDDQDOLVLGHOODFRQJUXLWj
— 162 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$WWLYLWjGLLPSUHVD
,1&,'(1=$'(,&267,5(6,'8$/,',*(67,21(68,5,&$9,
3HURJQLFRQWULEXHQWHVLGHWHUPLQDLOYDORUHPDVVLPRDPPLVVLELOHSHUODYDULDELOH´&RVWLUHVLGXDOLGLJHVWLRQHµ
PROWLSOLFDQGRODVRJOLDPDVVLPDGLQRUPDOLWjHFRQRPLFDGHOO·LQGLFDWRUHGLYLVDSHUL´5LFDYLGDFRQJUXLWjµ
1HO FDVR LQ FXL LO YDORUH GLFKLDUDWR GHL ´&RVWL UHVLGXDOL GL JHVWLRQHµ VL SRVL]LRQL DO GL VRSUD GL GHWWR YDORUH
PDVVLPR DPPLVVLELOH OD SDUWH GL FRVWL HFFHGHQWH WDOH YDORUH FRVWLWXLVFH SDUDPHWUR GL ULIHULPHQWR SHU OD
GHWHUPLQD]LRQH GHL PDJJLRUL ULFDYL GD QRUPDOLWj HFRQRPLFD FDOFRODWL PROWLSOLFDQGR WDOH SDUWH HFFHGHQWH SHU LO
UHODWLYRFRHIILFLHQWH
7DOHFRHIILFLHQWHqVWDWRLQGLYLGXDWRGLVWLQWDPHQWHSHUJUXSSRRPRJHQHRFOXVWHUFRPHUDSSRUWRWUDODVRPPD
GHLULFDYLSXQWXDOLFDOFRODWLDSSOLFDQGRDWXWWLLVRJJHWWLGHOFOXVWHUODVSHFLILFDIXQ]LRQHGLULFDYRFRQO·XWLOL]]R
GHOOHVROHYDULDELOLFRQWDELOLGLFRVWRHODVRPPDGHOOHVWHVVHYDULDELOLFRQWDELOLGLFRVWRYHGLWDEHOOD
7DEHOOD&RHIILFLHQWLGLGHWHUPLQD]LRQHGHLPDJJLRULULFDYLGDDSSOLFDUVLDLFRVWLUHVLGXDOLGLJHVWLRQH
&OXVWHU
&RHIILFLHQWH
,Q DSSOLFD]LRQH SHU RJQL FRQWULEXHQWH LO FRHIILFLHQWH GL GHWHUPLQD]LRQH GHL PDJJLRUL ULFDYL q RWWHQXWR FRPH
PHGLD SRQGHUDWD FRQ OH UHODWLYH SUREDELOLWj GL DSSDUWHQHQ]D GHL FRHIILFLHQWL LQGLYLGXDWL SHU RJQL JUXSSR
RPRJHQHR
$1$/,6,'(//$&21*58,7­
3HUFLDVFXQFRQWULEXHQWHYLHQHFDOFRODWRSHURJQLJUXSSRRPRJHQHRLO´FRPSHQVRULFDYRSXQWXDOHGLFOXVWHUµ
FRPHVRPPDGHLSURGRWWLIUDOHYDULDELOLLQGLYLGXDWHDLILQLGHOODGHILQL]LRQHGHOODIXQ]LRQHGLFRPSHQVRULFDYR
HGLUHODWLYLFRHIILFLHQWL
3HU WHQHU FRQWRGHOOD YDULDELOLWj OHJDWD DOOD VWLPD GHO FRPSHQVRULFDYR SXQWXDOH GHO VLQJROR FRQWULEXHQWH YLHQH
FDOFRODWRSHURJQLJUXSSRRPRJHQHRO·LQWHUYDOORGLFRQILGHQ]DDOOLYHOORGHO,OOLPLWHLQIHULRUHGLWDOH
LQWHUYDOORGLFRQILGHQ]DFRVWLWXLVFHLO´FRPSHQVRULFDYRPLQLPRGLFOXVWHUµ
5LFDYLGDFRQJUXLWj
5LFDYRSXQWXDOHGDDQDOLVLGHOODFRQJUXLWj
1HOOD WHUPLQRORJLD VWDWLVWLFD SHU ´LQWHUYDOOR GL FRQILGHQ]Dµ VL LQWHQGH XQ LQWHUYDOOR FHQWUDWR VXO FRPSHQVRULFDYR SXQWXDOH yˆ H
GHOLPLWDWR GD GXH HVWUHPL XQR LQIHULRUH H O·DOWUR VXSHULRUH FKH LQFOXGH FRQ XQ OLYHOOR GL SUREDELOLWj SUHILVVDWR LO YDORUH DWWHVR GHO
FRPSHQVRULFDYRGHOFRQWULEXHQWH
,O OLYHOOR GL SUREDELOLWj SUHILVVDWR R OLYHOOR GL ILGXFLD YLHQH JHQHUDOPHQWH LQGLFDWR FRQ OD QRWD]LRQH ´ ơµ GRYH ơ UDSSUHVHQWD OD
SUREDELOLWjFKHO·LQWHUYDOORGLFRQILGHQ]DQRQFRQWHQJDLOYDORUHDWWHVRGHOFRPSHQVRULFDYRGHOFRQWULEXHQWH3HUXQOLYHOORGLILGXFLDSDUL
DOLOYDORUHFRUULVSRQGHQWHGLơqSDULD
,QGLFDQGRFRQ y
ˆ LO´FRPSHQVRULFDYRSXQWXDOHGLFOXVWHUµGHOJHQHULFRFRQWULEXHQWHLOFRUULVSRQGHQWH´FRPSHQVRULFDYRPLQLPRGL
FOXVWHUµqRWWHQXWRDWWUDYHUVRODVHJXHQWHIRUPXOD
yˆ - 3,92 * s
x 'C x GRYH
• C q OD PDWULFH LQYHUVD GHOOD PDWULFH GDWD GDOOH VRPPH GHL TXDGUDWL H GHL SURGRWWL LQFURFLDWL GHOOH YDULDELOL LQGLSHQGHQWL
RSSRUWXQDPHQWHSHVDWHSHUFRQWUROODUHO·HYHQWXDOHSUHVHQ]DGLHWHURVFKHGDVWLFLWj
• s qODUDGLFHTXDGUDWDGHO0HDQ6TXDUH(UURU506(
• x qLOYHWWRUHGHOOHYDULDELOLLQGLSHQGHQWLRVVHUYDWHSHULOJHQHULFRFRQWULEXHQWH
• qLOYDORUHGLULIHULPHQWRDOOLYHOORGLSUREDELOLWjSUHVFHOWRGHOODGLVWULEX]LRQHWGL6WXGHQWFKHDVLQWRWLFDPHQWHDSSURVVLPDXQD
GLVWULEX]LRQHQRUPDOHVWDQGDUGL]]DWD
— 163 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
/DPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHL´FRPSHQVLULFDYLSXQWXDOLGLFOXVWHUµGHILQLWL
SHU LO FRQWULEXHQWH LQ UHOD]LRQH D FLDVFXQ JUXSSR RPRJHQHR FRVWLWXLVFH LO ´FRPSHQVRULFDYR SXQWXDOHµ GHO
FRQWULEXHQWH
/DPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHL´FRPSHQVLULFDYLPLQLPLGLFOXVWHUµGHILQLWL
SHU LO FRQWULEXHQWH LQ UHOD]LRQH D FLDVFXQ JUXSSR RPRJHQHR FRVWLWXLVFH LO ´FRPSHQVRULFDYR PLQLPRµ GHO
FRQWULEXHQWH
$O FRPSHQVRULFDYR SXQWXDOH H DO FRPSHQVRULFDYR PLQLPR VWLPDWL FRQ O·DQDOLVL GHOOD FRQJUXLWj YHQJRQR
DJJLXQWLJOLHYHQWXDOLPDJJLRULFRPSHQVLULFDYLGHULYDQWLGDOO·DSSOLFD]LRQHGHOO·DQDOLVLGHOODQRUPDOLWjHFRQRPLFD
1HOO·$OOHJDWR YHQJRQR ULSRUWDWH SHU O·DWWLYLWjGL LPSUHVD OH PRGDOLWj GL QHXWUDOL]]D]LRQH GHOOH YDULDELOL SHU OD
FRPSRQHQWHUHODWLYDDOO·DWWLYLWjGLYHQGLWDGLEHQLVRJJHWWLDGDJJLRRULFDYRILVVR
1HO6XE$OOHJDWR+YHQJRQRULSRUWDWHOHYDULDELOLHGLULVSHWWLYLFRHIILFLHQWLGHOOH´IXQ]LRQLGLFRPSHQVRµSHU
O·DWWLYLWjGLODYRURDXWRQRPRQHO6XE$OOHJDWR+YHQJRQRULSRUWDWHOHYDULDELOLHGLULVSHWWLYLFRHIILFLHQWLGHOOH
´IXQ]LRQLGLULFDYRµSHUO·DWWLYLWjGLLPSUHVD
,YDORULUHODWLYLDOODPDWULFH´ C µHDOYDORUHGHO´506(µGLFLDVFXQFOXVWHUYHQJRQRULSRUWDWLQHOO·$OOHJDWR
/HYDULDELOLQXPHULFKHULIHULWHDGLPSRUWLLQHXURVRQRDUURWRQGDWHDOYDORUHLQWHUR
— 164 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$7,
68%$//(*$72$²'(6&5,=,21('(,*5833,202*(1(,
,JUXSSLRPRJHQHLVRQRVWDWLLQGLYLGXDWLVXOODEDVHGHLVHJXHQWLIDWWRUL
−
WLSRORJLDGHOO·DWWLYLWj
−
QXPHURGLFRQGRPLQLDPPLQLVWUDWLHVWUXWWXUDGHOORVWXGLRLPSUHVD
/DWLSRORJLDGHOO·DWWLYLWjKDSHUPHVVRGLFODVVLILFDUHLFRQWULEXHQWLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLJHVWLRQH
LPPRELOLDUHFOXVWHUDPPLQLVWUD]LRQHLPPRELOLDUHFOXVWHUH)DFLOLW\0DQDJHPHQWFOXVWHU
,O QXPHUR GL FRQGRPLQL DPPLQLVWUDWL H VWUXWWXUD GHOOR VWXGLRLPSUHVD KD FRQVHQWLWR GL LQGLYLGXDUH L
FRQWULEXHQWL FKH DPPLQLVWUDQR XQD TXDQWLWj SL HOHYDWD GL FRQGRPLQL DYYDOHQGRVL GL XQ QXPHUR PDJJLRUH GL
DGGHWWLFOXVWHU
,FRQWULEXHQWLGHOSUHVHQWHVWXGLRSRVVRQRHVHUFLWDUHDWWLYLWjGLODYRURDXWRQRPRRG·LPSUHVD
1HOOH VXFFHVVLYH GHVFUL]LRQL GHL FOXVWHU HPHUVL GDOO·DQDOLVL VDOYR VHJQDOD]LRQH FRQWUDULD O·LQGLFD]LRQH GL YDORUL
QXPHULFLULJXDUGDYDORULPHGL
&/867(5&2175,%8(17,&+(6,2&&83$1235(9$/(17(0(17(',*(67,21(,002%,/,$5(
180(526,7­
,O FOXVWHU FRPSUHQGH L FRQWULEXHQWL FKH VYROJRQR SUHYDOHQWHPHQWH DWWLYLWj GL JHVWLRQH LPPRELOLDUH IRQWH
GHOO·GHLFRPSHQVLULFDYL
,OQXPHURGLXQLWjLPPRELOLDULJHVWLWHHVFOXVLLWHUUHQLqSDULDQHOODPDJJLRUDQ]DGHLFDVLO·DWWLYLWjVLVRVWDQ]LD
QHOODJHVWLRQHGHOODORFD]LRQH
,OGHLFRPSRQHQWLLOFOXVWHUqUDSSUHVHQWDWRGDLPSUHVHLQODUJDSUHYDOHQ]DRUJDQL]]DWHLQIRUPDVRFLHWDULD
FKHVLDYYDOJRQRLQJHQHUHGLDGGHWWLODSUHVHQ]DGLSHUVRQDOHGLSHQGHQWHVLULVFRQWUDQHOGHLFDVL
,ODYRUDWRULDXWRQRPLHVHUFLWDQRTXDVLHVFOXVLYDPHQWHDWLWRORLQGLYLGXDOHODSUHVHQ]DGLSHUVRQDOHGLSHQGHQWHVL
ULVFRQWUDQHOGHLFDVL
/D FOLHQWHOD q FRPSRVWD SHU OR SL GD SULYDWL GHL FRPSHQVLULFDYL H GD VRFLHWj GL FDSLWDOL GHL
FRPSHQVLULFDYLSHUODPHWjGHLVRJJHWWL
&/867(5 &2175,%8(17, &+( 6, 2&&83$12 35(9$/(17(0(17( ', $00,1,675$=,21(
,002%,/,$5(
180(526,7­
, FRQWULEXHQWL GHO FOXVWHU VYROJRQR SUHYDOHQWHPHQWH DWWLYLWj GL DPPLQLVWUD]LRQH LPPRELOLDUH GHL
FRPSHQVLULFDYL
, VRJJHWWL GHO FOXVWHU FXUDQR O·DPPLQLVWUD]LRQH GL FRQGRPLQL FRPSUHQGHQWL FLDVFXQR ´ILQR D µ XQLWj
LPPRELOLDULHGLFRQGRPLQLFRPSRVWLGDXQQXPHURGLXQLWjLPPRELOLDUL´ROWUHDµQHOGHLFDVL
/D PDJJLRUDQ]D GHL VRJJHWWL O· GHO WRWDOH q UDSSUHVHQWDWD GD ODYRUDWRUL DXWRQRPL RSHUDQWL SHU OD TXDVL
WRWDOLWjDWLWRORLQGLYLGXDOHODSUHVHQ]DGLSHUVRQDOHGLSHQGHQWHVLULVFRQWUDQHOGHLFDVL
/HLPSUHVHGHOFOXVWHURUJDQL]]DWHSUHYDOHQWHPHQWHLQIRUPDVRFLHWDULDGHLVRJJHWWLVLDYYDOJRQRLQJHQHUH
GLXQDGGHWWRODSUHVHQ]DGLSHUVRQDOHGLSHQGHQWHVLULVFRQWUDQHOGHLFDVL
&RHUHQWHPHQWHFRQO·DWWLYLWjGLFKLDUDWDODFOLHQWHODGLULIHULPHQWRqUDSSUHVHQWDWDGDFRQGRPLQLIRQWHGHO
GHLFRPSHQVLULFDYL
— 165 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&/867(5 &2175,%8(17, &+( $00,1,675$12 81 0$**,25( 180(52 ', &21'20,1,
$775$9(562/·$86,/,2',81$67587785$3,Õ$57,&2/$7$
180(526,7­
, FRQWULEXHQWL GHO FOXVWHU VL RFFXSDQR SUHYDOHQWHPHQWH GL DPPLQLVWUD]LRQH LPPRELOLDUH GHL
FRPSHQVLULFDYL H VL FRQWUDGGLVWLQJXRQR SHU FXUDUH O·DPPLQLVWUD]LRQH GL XQ PDJJLRUH QXPHUR GL FRQGRPLQL
DWWUDYHUVRO·DXVLOLRGLXQDVWUXWWXUDLQWHUPLQLGLSHUVRQDOHDGGHWWRDOO·DWWLYLWjSLDUWLFRODWD
,Q SDUWLFRODUH L VRJJHWWL GHO FOXVWHU FXUDQR O·DPPLQLVWUD]LRQH GL H FRQGRPLQL FRPSUHQGHQWL FLDVFXQR
ULVSHWWLYDPHQWH´ILQRDµHG´ROWUHDµXQLWjLPPRELOLDUL,QPHULWRDOODQXPHURVLWjGLDGGHWWLLPSLHJDWLLQ
JHQHUHLODYRUDWRULDXWRQRPLVLDYYDOJRQRGLRDGGHWWLHOHLPSUHVHGLDGGHWWL
, ODYRUDWRUL DXWRQRPL LO GHL FRPSRQHQWL LO FOXVWHU HVHUFLWDQR SUHYDOHQWHPHQWH D WLWROR LQGLYLGXDOH OD
SUHVHQ]DGLSHUVRQDOHGLSHQGHQWHVLULVFRQWUDQHOGHLFDVL
/H LPSUHVH VRQRRUJDQL]]DWH LQ ODUJD SUHYDOHQ]D LQIRUPD VRFLHWDULD LO GHL FDVL OD SUHVHQ]D GL SHUVRQDOH
GLSHQGHQWHVLULVFRQWUDQHOO·GHLFDVL
&RHUHQWHPHQWHFRQO·DWWLYLWjGLFKLDUDWDODFOLHQWHODGLULIHULPHQWRqUDSSUHVHQWDWDGDFRQGRPLQLIRQWHGHO
GHLFRPSHQVLULFDYL
&/867(5 &2175,%8(17, &+( 692/*212 35(9$/(17(0(17( $77,9,7­ ', )$&,/,7<
0$1$*(0(17
180(526,7­
,O FOXVWHU q IRUPDWR GD FRQWULEXHQWL FKH HIIHWWXDQR SUHYDOHQWHPHQWH DWWLYLWj GL )DFLOLW\ 0DQDJHPHQW GHL
ULFDYL
,QSDUWLFRODUHODJHVWLRQHLQWHJUDWDGHLVHUYL]LDWHU]LFRPSUHQGH
−
VHUYL]L DOO·HGLILFLR RVVLD PDQXWHQ]LRQH HGLOH PDQWHQLPHQWR LQ HIILFLHQ]D GHOO
HGLILFLR SXOL]LD YLJLODQ]D
PDQXWHQ]LRQHGHOOHDUHHYHUGLHFFGHLULFDYLSHULOGHLVRJJHWWL
−
VHUYL]LDOOHSHUVRQHRVVLDDWWLYLWjGLUHFHSWLRQFDWHULQJULVWRUD]LRQHWUDVSRUWLGHOSHUVRQDOHGLVWULEX]LRQHSRVWD
HFRUULVSRQGHQ]DHFFGHLULFDYLSHULOGHLVRJJHWWL
−
VHUYL]LDOORVSD]LRILVLFRRVVLDDOORFD]LRQHXWLOL]]D]LRQHHULDOORFD]LRQHGHJOLVSD]LJHVWLRQHGHJOLDUFKLYLFDUWDFHL
OD\RXWGHOO
XIILFLRHFFGHLULFDYLSHULOGHLVRJJHWWL
,OFOXVWHUqIRUPDWRHVFOXVLYDPHQWHGDLPSUHVHRUJDQL]]DWHLQIRUPDVRFLHWDULDQHOGHLFDVLFKHVLDYYDOJRQR
LQJHQHUHGLDGGHWWLODSUHVHQ]DGLSHUVRQDOHGLSHQGHQWHVLULVFRQWUDQHOGHLFDVL
/DFOLHQWHODGLFKLDUDWDSLGLIUHTXHQWHGHLFDVLqUDSSUHVHQWDWDGDVRFLHWjGLFDSLWDOLFRQXQDSSRUWRGHO
VXLULFDYL
— 166 —
7LSRORJLDGHOO
DWWLYLWj)DFLOLW\0DQDJHPHQW
)DFLOLW\PDQDJHPHQW(GLILFL
3HUVRQDOHDGGHWWR
&/867(5
&/867(5
&/867(5
— 167 —
1XPHURFRQGRPuQLDPPLQLVWUDWL
&RQVLGHUDQGRFKHLOFOXVWHUqXQPRGHOORRUJDQL]]DWLYRSHFXOLDUHGHOO·DWWLYLWjGLLPSUHVDQHOFDVRGLDWWLYLWjGLODYRURDXWRQRPRLSHVLSHUWXWWHOHYDULDELOLGLWDOLFOXVWHUVRQRSRVWLSDULD
LQPRGRFKHOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DULVXOWLQRSDULD]HUR
'RYH
3HUVRQDOHDGGHWWR 1XPHURDGGHWWLSHUO·DWWLYLWjG·LPSUHVD1XPHURDGGHWWL1XPHURFROODERUDWRULFRRUGLQDWLHFRQWLQXDWLYLFKHSUHVWDQRDWWLYLWjSUHYDOHQWHPHQWHQHOORVWXGLRSHUO·DWWLYLWjGLODYRUR
DXWRQRPR3HULOFDOFRORGHO1XPHURDGGHWWLVLYHGDQRL6XE$OOHJDWL&²)RUPXOHGHJOLLQGLFDWRUL,OQXPHURFROODERUDWRULFRRUGLQDWLHFRQWLQXDWLYLFKHSUHVWDQRDWWLYLWjSUHYDOHQWHPHQWHQHOORVWXGLRq
ULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
1XPHURFRQGRPuQLDPPLQLVWUDWL &RQGRPuQLILQRDXQLWjLPPRELOLDUL&RQGRPuQLDPPLQLVWUDWL1XPHUR&RQGRPuQLFRQROWUHXQLWjLPPRELOLDUL&RQGRPuQLDPPLQLVWUDWL1XPHUR
7LSRORJLDGHOO
DWWLYLWj*HVWLRQHLPPRELOLDUH
&/867(5
9$5,$%,/(
7LSRORJLDGHOO
DWWLYLWj$PPLQLVWUD]LRQHLPPRELOLDUH
,QWHUFHWWD
68%$//(*$72%3(6,'(//()81=,21,',6&5,0,1$17,
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72&²)2508/('(*/,,1',&$725,$77,9,7­',/$9252$8721202
'L VHJXLWR VRQR ULSRUWDWH OH IRUPXOH GHJOL LQGLFDWRUL HFRQRPLFRFRQWDELOL XWLOL]]DWL LQ FRVWUX]LRQH HR
DSSOLFD]LRQHGHOORVWXGLRGLVHWWRUH
•
•
•
•
•
•
•
&RPSHQVL SHU DPPLQLVWUD]LRQH RUGLQDULD GL XQ FRQGRPLQLR FRQ ROWUH XQLWj LPPRELOLDUL &RQGRPuQLFRQROWUHXQLWjLPPRELOLDUL&RQGRPuQLDPPLQLVWUDWL*HVWLRQHRUGLQDULD&RQGRPuQLFRQ
ROWUHXQLWjLPPRELOLDUL&RQGRPuQLDPPLQLVWUDWL1XPHUR
&RPSHQVL SHU DPPLQLVWUD]LRQH RUGLQDULD GL XQ FRQGRPLQLR ILQR D XQLWj LPPRELOLDUL &RQGRPuQLILQRDXQLWjLPPRELOLDUL&RQGRPuQLDPPLQLVWUDWL*HVWLRQHRUGLQDULD&RQGRPuQLILQRD
XQLWjLPPRELOLDUL&RQGRPuQLDPPLQLVWUDWL1XPHUR
,QFLGHQ]D GHOOH DOWUH FRPSRQHQWL QHJDWLYH DO QHWWR GHL FDQRQL GL ORFD]LRQH VXL FRPSHQVL $OWUH
FRPSRQHQWLQHJDWLYHQHWWH&RPSHQVLGLFKLDUDWL
,QFLGHQ]D GHOOH VSHVH VXL FRPSHQVL 6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH 6SHVH SHU
SUHVWD]LRQL GL FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL
GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H DUWLVWLFD &RQVXPL $OWUH VSHVH $OWUH FRPSRQHQWL
QHJDWLYHQHWWH&RPSHQVLGLFKLDUDWL
,QGLFH GL FRSHUWXUD GHO FRVWR SHU LO JRGLPHQWR GL EHQL GL WHU]L H GHJOL DPPRUWDPHQWL 0DUJLQH
QHWWR&DQRQL GL ORFD]LRQH ILQDQ]LDULD H QRQ ILQDQ]LDULD UHODWLYL D EHQL LPPRELOL &DQRQL GL ORFD]LRQH
ILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLVWUXPHQWDOLPRELOL$PPRUWDPHQWL
0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWR 0DUJLQH3URIHVVLRQLVWLWLWRODULGHOORVWXGLR
5HQGLPHQWR ORUGR SHU DGGHWWR LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R
DVVLPLODWR 9DORUHFUHDWRGDOORVWXGLRSURIHVVLRQDOH$GGHWWL
1HOODVRODIDVHGLFRVWUX]LRQHL&RPSHQVLGLFKLDUDWLLQFOXGRQRDQFKHO·$GHJXDPHQWRGDVWXGLGLVHWWRUH
,QIDVHGLDSSOLFD]LRQHGHOO·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFD´,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQH
VXLFRPSHQVLµYHQJRQRXWLOL]]DWLL
&RPSHQVLGDFRQJUXLWj &RPSHQVRSXQWXDOHGDDQDOLVLGHOODFRQJUXLWj
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHLSURIHVVLRQLVWLWLWRODULGHOORVWXGLR
3URIHVVLRQLVWLWLWRODULGHOORVWXGLR 7LWRODUH
SURIHVVLRQLVWDFKHRSHUDLQIRUPD
LQGLYLGXDOH
3URIHVVLRQLVWLWLWRODULGHOORVWXGLR 1XPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQH
HVHUFL]LRFROOHWWLYRGHOO·DWWLYLWj
SURIHVVLRQDOH
,OWLWRODUHqSDULD
,OQXPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHqSDULDOODUHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
,OWLWRODUHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
6HLSURIHVVLRQLVWLWLWRODULGHOORVWXGLRVRQRLQIHULRUL D´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVRDOORUDL
SURIHVVLRQLVWLWLWRODULGHOORVWXGLRVRQRSDULDOYDORUHPDVVLPRWUDSURIHVVLRQLVWLWLWRODULGHOORVWXGLRH7LWRODUH²1XPHURGLSHQGHQWL
,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHJOLDGGHWWL
7LWRODUH1XPHURGLSHQGHQWL
$GGHWWL SURIHVVLRQLVWDFKHRSHUDLQIRUPD
LQGLYLGXDOH
1XPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH 1XPHUR
$GGHWWL GLSHQGHQWL
HVHUFL]LRFROOHWWLYRGHOO·DWWLYLWj
SURIHVVLRQDOH
,OWLWRODUHqSDULD,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
,OQXPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHqSDULDOODUHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
,OWLWRODUHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
*OL$GGHWWLQRQSRVVRQRHVVHUHLQIHULRULD´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVR
— 168 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
•
Serie generale - n. 301
5HVD RUDULDSHU DGGHWWR &RPSHQVL GLFKLDUDWL ² 6SHVH SHU SUHVWD]LRQL GL FROODERUD]LRQH FRRUGLQDWDH
FRQWLQXDWLYD ² &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H
DUWLVWLFD1XPHURDGGHWWL
'RYH
•
$OWUHFRPSRQHQWLQHJDWLYHQHWWH $OWUHFRPSRQHQWLQHJDWLYH²&DQRQLGLORFD]LRQHILQDQ]LDULDHQRQ
ILQDQ]LDULD UHODWLYL D EHQL LPPRELOL ² &DQRQL GL ORFD]LRQH ILQDQ]LDULD H QRQ ILQDQ]LDULD UHODWLYL D EHQL
VWUXPHQWDOLPRELOL;
•
0DUJLQH 9DORUHFUHDWRGDOORVWXGLRSURIHVVLRQDOH²6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH
•
0DUJLQH QHWWR 0DUJLQH ² >6RJOLD PLQLPD GL FRHUHQ]D GHO PDUJLQH GHO SURIHVVLRQLVWD39 3URIHVVLRQLVWLWLWRODULGHOORVWXGLR@
•
9DORUH FUHDWR GDOOR VWXGLR SURIHVVLRQDOH &RPSHQVL GLFKLDUDWL ² 6SHVH SHU SUHVWD]LRQL GL
FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD ² &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH
DIIHUHQWLO·DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD²&RQVXPL²$OWUHVSHVH²$OWUHFRPSRQHQWLQHJDWLYHQHWWH
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHOQXPHURGLDGGHWWL
´)DWWRUHFRUUHWWLYRLQGLYLGXDOHµ1XPHURGLSHQGHQWL
GRYH
•
´)DWWRUH FRUUHWWLYR LQGLYLGXDOHµ ´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ ´3HVR VHWWLPDQH GL
ODYRURQHOSHULRGRG·LPSRVWDµ
•
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ q SDUL D PLQRU YDORUH WUD H 1XPHUR RUH VHWWLPDQDOL
GHGLFDWHDOO·DWWLYLWj
•
´3HVR VHWWLPDQH GL ODYRUR QHO SHULRGR G·LPSRVWD q SDUL D PLQRU YDORUH WUD ´9DORUH PDVVLPR GHOOH
VHWWLPDQHGLODYRURQHOSHULRGRG·LPSRVWDµH1XPHURGLVHWWLPDQHGLODYRURQHOSHULRGRG·LPSRVWD
1XPHURDGGHWWL 1XPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH ´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ HVHUFL]LRFROOHWWLYR 1XPHURGLSHQGHQWL
GRYH
GHOO·DWWLYLWj
SURIHVVLRQDOH
•
´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ ´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ ´3HVR VHWWLPDQH GL
ODYRURQHOSHULRGRG·LPSRVWDµ
•
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ q SDUL D PLQRU YDORUH WUD H 1XPHUR RUH VHWWLPDQDOL
GHGLFDWHDOO·DWWLYLWj1XPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQH
•
´3HVR VHWWLPDQH GL ODYRUR QHO SHULRGR G·LPSRVWDµ q SDUL D PLQRU YDORUH WUD ´9DORUH PDVVLPR GHOOH
VHWWLPDQH GL ODYRUR QHO SHULRGR G·LPSRVWDµ H 1XPHUR GL VHWWLPDQH GL ODYRUR QHO SHULRGR G·LPSRVWD
1XPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQH
1XPHURDGGHWWL SURIHVVLRQLVWDFKH
RSHUDLQIRUPD
LQGLYLGXDOH
,O´9DORUHPDVVLPRGHOOHVHWWLPDQHGLODYRURQHOSHULRGRG·LPSRVWDµRYYHURVHWWLPDQHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWj
SDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWH
GLYLVR
/DVRJOLDPLQLPDGLFRHUHQ]DGHOPDUJLQHGHOSURIHVVLRQLVWDqODVRJOLDPLQLPDGHOO·LQGLFDWRUH´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGL
VSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWRµDSSOLFDWDDOO·LQWHUDSODWHDGHLFRQWULEXHQWL
— 169 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72&²)2508/('(*/,,1',&$725,$77,9,7­',,035(6$
'L VHJXLWR VRQR ULSRUWDWH OH IRUPXOH GHJOL LQGLFDWRUL HFRQRPLFRFRQWDELOL XWLOL]]DWL LQ FRVWUX]LRQH HR
DSSOLFD]LRQHGHOORVWXGLRGLVHWWRUH
•
•
•
•
•
•
,QFLGHQ]D GHL FRVWL UHVLGXDOL GL JHVWLRQH VXL ULFDYL &RVWL UHVLGXDOL GL JHVWLRQH5LFDYL
GLFKLDUDWL
,QGLFH GL FRSHUWXUD GHO FRVWR SHU LO JRGLPHQWR GL EHQL GL WHU]L H GHJOL DPPRUWDPHQWL 0DUJLQH
QHWWR&RVWRSHULOJRGLPHQWRGLEHQLGLWHU]L$PPRUWDPHQWL
0DUJLQH SHU DGGHWWR QRQ GLSHQGHQWH LQ DVVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR
0DUJLQH1XPHUR$GGHWWLQRQ'LSHQGHQWL
5LFDYLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQFRQGRPLQLRFRQROWUHXQLWjLPPRELOLDUL &RQGRPuQL
FRQ ROWUH XQLWj LPPRELOLDUL &RQGRPuQL DPPLQLVWUDWL *HVWLRQH RUGLQDULD &RQGRPuQL FRQ ROWUH XQLWjLPPRELOLDUL&RQGRPuQLDPPLQLVWUDWL1XPHUR
5LFDYLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQFRQGRPLQLRILQRDXQLWjLPPRELOLDUL &RQGRPuQL
ILQR D XQLWj LPPRELOLDUL &RQGRPuQL DPPLQLVWUDWL *HVWLRQH RUGLQDULD &RQGRPuQL ILQR D XQLWj
LPPRELOLDUL&RQGRPuQLDPPLQLVWUDWL1XPHUR
9DORUHDJJLXQWRORUGRSHUDGGHWWRLQSUHVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRUR 9DORUHDJJLXQWR
ORUGR1XPHURDGGHWWL
'RYH
•
$JJL GHULYDQWL GDOOD YHQGLWD GL JHQHUL VRJJHWWL DG DJJLR R ULFDYR ILVVR 5LFDYL GHULYDQWL GDOOD
YHQGLWDGLJHQHULVRJJHWWLDGDJJLRRULFDYRILVVR(VLVWHQ]HLQL]LDOLUHODWLYHDSURGRWWLVRJJHWWLDGDJJLR
,QIDVHGLDSSOLFD]LRQHGHOO·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFDYHQJRQRXWLOL]]DWLL
5LFDYLGDFRQJUXLWj 5LFDYRSXQWXDOHGDDQDOLVLGHOODFRQJUXLWj
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHOQXPHURGLDGGHWWLQRQGLSHQGHQWL
1XPHUR DGGHWWL
QRQ GLSHQGHQWL 7LWRODUH+QXPHURFROODERUDWRULGHOO·LPSUHVDIDPLOLDUHHFRQLXJHGHOO·D]LHQGDFRQLXJDOHQXPHURIDPLOLDULGLYHUVL
GLWWHLQGLYLGXDOL FKHSUHVWDQRDWWLYLWjQHOO
LPSUHVDQXPHURDVVRFLDWLLQSDUWHFLSD]LRQH
1XPHUR DGGHWWL
QRQ GLSHQGHQWL 1XPHURIDPLOLDULGLYHUVLFKHSUHVWDQRDWWLYLWjQHOO
LPSUHVDQXPHURDVVRFLDWLLQSDUWHFLSD]LRQH+ QXPHURVRFL
DPPLQLVWUDWRUL+QXPHURVRFLQRQDPPLQLVWUDWRULQXPHURDPPLQLVWUDWRULQRQVRFL
VRFLHWj
6HLOQXPHURDGGHWWLQRQGLSHQGHQWLqLQIHULRUHD´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVRDOORUDLOQXPHUR
DGGHWWLQRQGLSHQGHQWLqSDULDOYDORUHPDVVLPRWUDQXPHURDGGHWWLQRQGLSHQGHQWLHWLWRODUH²QXPHURGLSHQGHQWL
,OWLWRODUHqSDULDXQR,OQXPHURGLSHQGHQWLqSDULDO1XPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
,O QXPHUR FROODERUDWRUL GHOO·LPSUHVD IDPLOLDUH H FRQLXJH GHOO·D]LHQGD FRQLXJDOH LO QXPHUR IDPLOLDUL GLYHUVL FKH SUHVWDQR DWWLYLWj
QHOO·LPSUHVD LO QXPHUR DVVRFLDWL LQ SDUWHFLSD]LRQH LO QXPHUR VRFL DPPLQLVWUDWRUL H LO QXPHUR VRFL QRQ DPPLQLVWUDWRUL VRQR SDUL DOOD
UHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
,OQXPHURGHJOLDPPLQLVWUDWRULQRQVRFLHLOWLWRODUHVRQRULGHWHUPLQDWLLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHO
FRUVRGHOSHULRGRG·LPSRVWDGLYLVR
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHOQXPHURGLDGGHWWL
1XPHURDGGHWWL 7LWRODUH + QXPHUR GLSHQGHQWL QXPHUR FROODERUDWRUL FRRUGLQDWL H FRQWLQXDWLYL FKH SUHVWDQR DWWLYLWj
GLWWHLQGLYLGXDOL SUHYDOHQWHPHQWH QHOO·LPSUHVD QXPHUR FROODERUDWRUL GHOO·LPSUHVD IDPLOLDUH H FRQLXJH GHOO·D]LHQGD FRQLXJDOH QXPHURIDPLOLDULGLYHUVLFKHSUHVWDQRDWWLYLWjQHOO
LPSUHVDQXPHURDVVRFLDWLLQSDUWHFLSD]LRQH
1XPHURDGGHWWL 1XPHUR GLSHQGHQWL QXPHUR FROODERUDWRUL FRRUGLQDWL H FRQWLQXDWLYL FKH SUHVWDQR DWWLYLWj SUHYDOHQWHPHQWH
VRFLHWj
QHOO·LPSUHVDQXPHURIDPLOLDULGLYHUVLFKHSUHVWDQRDWWLYLWjQHOO
LPSUHVDQXPHURDVVRFLDWLLQSDUWHFLSD]LRQH+
QXPHURVRFLDPPLQLVWUDWRUL+QXPHURVRFLQRQDPPLQLVWUDWRULQXPHURDPPLQLVWUDWRULQRQVRFL
,OWLWRODUHqSDULDXQR,OQXPHURGLSHQGHQWLqSDULDO1XPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
,O QXPHUR FROODERUDWRUL GHOO·LPSUHVD IDPLOLDUH H FRQLXJH GHOO·D]LHQGD FRQLXJDOH LO QXPHUR IDPLOLDUL GLYHUVL FKH SUHVWDQR DWWLYLWj
QHOO·LPSUHVD LO QXPHUR DVVRFLDWL LQ SDUWHFLSD]LRQH LO QXPHUR VRFL DPPLQLVWUDWRUL H LO QXPHUR VRFL QRQ DPPLQLVWUDWRUL VRQR SDUL DOOD
UHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
,OQXPHURFROODERUDWRULFRRUGLQDWLHFRQWLQXDWLYLFKHSUHVWDQRDWWLYLWjSUHYDOHQWHPHQWHQHOO·LPSUHVDLOQXPHURDPPLQLVWUDWRULQRQVRFLHLO
WLWRODUHVRQRULGHWHUPLQDWLLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
,OQXPHURDGGHWWLQRQSXzHVVHUHLQIHULRUHD´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVR
— 170 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
RULFDYRILVVR5LPDQHQ]HILQDOLUHODWLYHDSURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVR&RVWLSHUO·DFTXLVWR
GLSURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVR%HQLVRJJHWWLDGDJJLRRULFDYRILVVRGLVWUXWWLRVRWWUDWWL
•
&RVWLUHVLGXDOLGLJHVWLRQH 2QHULGLYHUVLGLJHVWLRQH$EERQDPHQWLDULYLVWHHJLRUQDOLDFTXLVWRGL
OLEULVSHVHSHUFDQFHOOHULD6SHVHSHURPDJJLRDFOLHQWLHGDUWLFROLSURPR]LRQDOL3HUGLWHVXFUHGLWL
$OWULFRPSRQHQWLQHJDWLYL8WLOLVSHWWDQWLDJOLDVVRFLDWLLQSDUWHFLSD]LRQHFRQDSSRUWLGLVRORODYRUR
•
&RVWRGHOYHQGXWRHSHUODSURGX]LRQHGLVHUYL]L >(VLVWHQ]HLQL]LDOLUHODWLYHDPHUFLSURGRWWLILQLWL
PDWHULHSULPHHVXVVLGLDULHVHPLODYRUDWLHDLVHUYL]LQRQGLGXUDWDXOWUDQQXDOHHVFOXVHTXHOOHUHODWLYHD
SURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVR&RVWLSHUO
DFTXLVWRGLPDWHULHSULPHVXVVLGLDULHVHPLODYRUDWL
HPHUFLHVFOXVLTXHOOLUHODWLYLDSURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVRHSHUODSURGX]LRQHGLVHUYL]L
%HQLGLVWUXWWLRVRWWUDWWLHVFOXVLTXHOOLVRJJHWWLDGDJJLRRULFDYRILVVR@(VLVWHQ]HLQL]LDOLUHODWLYHDG
RSHUHIRUQLWXUHHVHUYL]LGLGXUDWDXOWUDQQXDOHGLFXLDOO
DUWFRPPDGHO78,5%HQLGLVWUXWWLR
VRWWUDWWL5LPDQHQ]HILQDOL
•
0DUJLQH 9DORUH DJJLXQWR ORUGR 6SHVH SHU ODYRUR GLSHQGHQWH H SHU DOWUH SUHVWD]LRQL GLYHUVH GD
ODYRUR GLSHQGHQWH DIIHUHQWL O
DWWLYLWj GHOO
LPSUHVD &RPSHQVL FRUULVSRVWL DL VRFL SHU O·DWWLYLWj GL
DPPLQLVWUDWRUHVRFLHWjGLSHUVRQH
•
0DUJLQHQHWWR 0DUJLQH>6RJOLDPLQLPDGLFRHUHQ]DGHOPDUJLQHSHUDGGHWWRQRQGLSHQGHQWH
1XPHURDGGHWWLQRQ'LSHQGHQWL@
•
5LFDYLGLFKLDUDWL 5LFDYLGLFXLDLFRPPLOHWWDHEHGHOO·DUWGHO78,5HVFOXVLDJJLRULFDYL
ILVVL$OWULSURYHQWLFRQVLGHUDWLULFDYL$OWULSURYHQWLFRQVLGHUDWLULFDYLGLFXLDOODOHWWHUDIGHOO
DUW
FRPPD GHO 78,5 5LPDQHQ]H ILQDOL UHODWLYH DG RSHUH IRUQLWXUH H VHUYL]L GL GXUDWD XOWUDQQXDOH 5LPDQHQ]HILQDOLUHODWLYHDGRSHUHIRUQLWXUHHVHUYL]LGLGXUDWDXOWUDQQXDOHGLFXLDOO
DUWFRPPDGHO
78,5(VLVWHQ]HLQL]LDOLUHODWLYHDGRSHUHIRUQLWXUHHVHUYL]LGLGXUDWDXOWUDQQXDOH(VLVWHQ]HLQL]LDOL
UHODWLYHDGRSHUHIRUQLWXUHHVHUYL]LGLGXUDWDXOWUDQQXDOHGLFXLDOO
DUWFRPPDGHO78,5
•
5LPDQHQ]H ILQDOL 5LPDQHQ]H ILQDOL UHODWLYH D PHUFL SURGRWWL ILQLWL PDWHULH SULPH H VXVVLGLDULH
VHPLODYRUDWLHDLVHUYL]LQRQGLGXUDWDXOWUDQQXDOHHVFOXVHTXHOOHUHODWLYHDSURGRWWLVRJJHWWLDGDJJLRR
ULFDYRILVVR5LPDQHQ]HILQDOLUHODWLYHDGRSHUHIRUQLWXUHHVHUYL]LGLGXUDWDXOWUDQQXDOHGLFXLDOO
DUW
FRPPDGHO78,5
•
9DORUHDJJLXQWR ORUGR 5LFDYLGLFKLDUDWL$JJLGHULYDQWLGDOODYHQGLWDGLJHQHULVRJJHWWLDGDJJLRR
ULFDYR ILVVR >&RVWR GHO YHQGXWR H SHU OD SURGX]LRQH GL VHUYL]L 6SHVH SHU DFTXLVWL GL VHUYL]L &RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjHGHQWLVRJJHWWLDOO·,UHV$OWULFRVWL
SHU VHUYL]L 2QHUL GLYHUVL GL JHVWLRQH $OWUL FRPSRQHQWL QHJDWLYL 8WLOL VSHWWDQWL DJOL DVVRFLDWL LQ
SDUWHFLSD]LRQHFRQDSSRUWLGLVRORODYRUR@
6HODYDULDELOHqPLQRUHGL]HURYLHQHSRVWDXJXDOHD]HUR
,O ULFKLDPR GHOO·DUW FRPPD GHO 78,5 q ULIHULWR DO WHVWR YLJHQWH DQWHULRUPHQWH DOO·DEURJD]LRQH GHOOD QRUPD RSHUDWD GDOO·DUW FRPPDGHOODOHJJHGLFHPEUHQRSHUHIRUQLWXUHHVHUYL]LXOWUDQQXDOLFRQLQL]LRGLHVHFX]LRQHQRQVXFFHVVLYRDOSHULRGR
G·LPSRVWDLQFRUVRDOODGDWDGHOGLFHPEUH
/D VRJOLD PLQLPD GL FRHUHQ]D GHO PDUJLQH SHU DGGHWWR QRQ GLSHQGHQWH q OD VRJOLD PLQLPD GHOO·LQGLFDWRUH ´0DUJLQH SHU DGGHWWR QRQ
GLSHQGHQWH²LQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURµDSSOLFDWDDOO·LQWHUDSODWHDGHLFRQWULEXHQWL
1HOODVRODIDVHGLFRVWUX]LRQHL5LFDYLGLFKLDUDWLLQFOXGRQRDQFKHO·$GHJXDPHQWRGDVWXGLGLVHWWRUH
— 171 —
0RGDOLWjGL
GLVWULEX]LRQH
— 172 —
5HQGLPHQWRORUGR
SHUDGGHWWR²LQ
SUHVHQ]DGLVSHVH
SHUSUHVWD]LRQLGL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQ
PLJOLDLDGLHXUR
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHR
DVVLPLODWRLQ
PLJOLDLDGLHXUR
&RPSHQVLSHU
DPPLQLVWUD]LRQH
RUGLQDULDGLXQ
FRQGRPLQLRILQRD
XQLWjLPPRELOLDUL
&RPSHQVLSHU
DPPLQLVWUD]LRQH
RUGLQDULDGLXQ
FRQGRPLQLRFRQ
ROWUHXQLWj
LPPRELOLDUL
,QGLFDWRUH
5HVDRUDULDSHU
DGGHWWR
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
7XWWLLVRJJHWWL
,QGLFHGLFRSHUWXUD
GHOFRVWRSHULO
JRGLPHQWRGLEHQL 7XWWLLVRJJHWWL
GLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
&OXVWHU&RQWULEXHQWLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLJHVWLRQHLPPRELOLDUH
68%$//(*$72'²',675,%8=,21,9(17,/,&+(,1',&$725,',&2(5(1=$$77,9,7­',/$9252$8721202
30-12-2014
Serie generale - n. 301
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
,QFLGHQ]DGHOOH
ODYRUR
VSHVHVXLFRPSHQVL
3URIHVVLRQLVWL
FRQIRU]DODYRUR
,QGLFDWRUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 173 —
Serie generale - n. 301
— 174 —
5HQGLPHQWRORUGR
SHUDGGHWWR²LQ
SUHVHQ]DGLVSHVH
SHUSUHVWD]LRQLGL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQ
PLJOLDLDGLHXUR
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHR
DVVLPLODWRLQ
PLJOLDLDGLHXUR
&RPSHQVLSHU
DPPLQLVWUD]LRQH
RUGLQDULDGLXQ
FRQGRPLQLRILQRD
XQLWjLPPRELOLDUL
&RPSHQVLSHU
DPPLQLVWUD]LRQH
RUGLQDULDGLXQ
FRQGRPLQLRFRQ
ROWUHXQLWj
LPPRELOLDUL
,QGLFDWRUH
5HVDRUDULDSHU
DGGHWWR
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
7XWWLLVRJJHWWL
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUD
GHOFRVWRSHULO
JRGLPHQWRGLEHQL 7XWWLLVRJJHWWL
GLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLDPPLQLVWUD]LRQHLPPRELOLDUH
30-12-2014
Serie generale - n. 301
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
,QFLGHQ]DGHOOH
ODYRUR
VSHVHVXLFRPSHQVL
3URIHVVLRQLVWL
FRQIRU]DODYRUR
,QGLFDWRUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 175 —
Serie generale - n. 301
— 176 —
5HQGLPHQWRORUGR
SHUDGGHWWR²LQ
SUHVHQ]DGLVSHVH
SHUSUHVWD]LRQLGL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQ
PLJOLDLDGLHXUR
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHR
DVVLPLODWRLQ
PLJOLDLDGLHXUR
&RPSHQVLSHU
DPPLQLVWUD]LRQH
RUGLQDULDGLXQ
FRQGRPLQLRILQRD
XQLWjLPPRELOLDUL
&RPSHQVLSHU
DPPLQLVWUD]LRQH
RUGLQDULDGLXQ
FRQGRPLQLRFRQ
ROWUHXQLWj
LPPRELOLDUL
,QGLFDWRUH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
7XWWLLVRJJHWWL
5HVDRUDULDSHU
DGGHWWR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUD
GHOFRVWRSHULO
JRGLPHQWRGLEHQL 7XWWLLVRJJHWWL
GLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHDPPLQLVWUDQRXQPDJJLRUHQXPHURGLFRQGRPLQLDWWUDYHUVRO·DXVLOLRGLXQDVWUXWWXUDSLDUWLFRODWD
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
,QFLGHQ]DGHOOH
ODYRUR
VSHVHVXLFRPSHQVL
3URIHVVLRQLVWL
FRQIRU]DODYRUR
,QGLFDWRUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 177 —
Serie generale - n. 301
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
*UXSSR
WHUULWRULDOH
— 178 —
*UXSSR
9DORUHDJJLXQWRORUGR WHUULWRULDOH
SHUDGGHWWR²LQ
SUHVHQ]DGLVSHVHSHU
*UXSSR
SUHVWD]LRQLGLODYRUR
WHUULWRULDOH
LQPLJOLDLDGLHXUR
*UXSSR
5LFDYLSHU
WHUULWRULDOH
DPPLQLVWUD]LRQH
RUGLQDULDGLXQ
*UXSSR
FRQGRPLQLRILQRD
WHUULWRULDOH
XQLWjLPPRELOLDUL
*UXSSR
5LFDYLSHU
WHUULWRULDOH
DPPLQLVWUD]LRQH
RUGLQDULDGLXQ
*UXSSR
FRQGRPLQLRFRQROWUH
WHUULWRULDOH
XQLWjLPPRELOLDUL
0DUJLQHSHUDGGHWWR
QRQGLSHQGHQWHLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
LQPLJOLDLDGLHXUR
,QGLFDWRUH
0RGDOLWjGL
,QGLFDWRUH
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUD
GHOFRVWRSHULO
JRGLPHQWRGLEHQLGL 7XWWLLVRJJHWWL
WHU]LHGHJOL
DPPRUWDPHQWL
&OXVWHU&RQWULEXHQWLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLJHVWLRQHLPPRELOLDUH
68%$//(*$72'²',675,%8=,21,9(17,/,&+(,1',&$725,',&2(5(1=$$77,9,7­',,035(6$
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
0RGDOLWjGL
GLVWULEX]LRQH
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
*UXSSR
WHUULWRULDOH
— 179 —
*UXSSR
9DORUHDJJLXQWRORUGR WHUULWRULDOH
SHUDGGHWWR²LQ
SUHVHQ]DGLVSHVHSHU
*UXSSR
SUHVWD]LRQLGLODYRUR
WHUULWRULDOH
LQPLJOLDLDGLHXUR
*UXSSR
5LFDYLSHU
WHUULWRULDOH
DPPLQLVWUD]LRQH
RUGLQDULDGLXQ
*UXSSR
FRQGRPLQLRILQRD
WHUULWRULDOH
XQLWjLPPRELOLDUL
*UXSSR
5LFDYLSHU
WHUULWRULDOH
DPPLQLVWUD]LRQH
RUGLQDULDGLXQ
*UXSSR
FRQGRPLQLRFRQROWUH
WHUULWRULDOH
XQLWjLPPRELOLDUL
0DUJLQHSHUDGGHWWR
QRQGLSHQGHQWHLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
LQPLJOLDLDGLHXUR
,QGLFDWRUH
,QGLFHGLFRSHUWXUD
GHOFRVWRSHULO
JRGLPHQWRGLEHQLGL 7XWWLLVRJJHWWL
WHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLDPPLQLVWUD]LRQHLPPRELOLDUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
0RGDOLWjGL
GLVWULEX]LRQH
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
*UXSSR
WHUULWRULDOH
— 180 —
*UXSSR
9DORUHDJJLXQWRORUGR WHUULWRULDOH
SHUDGGHWWR²LQ
SUHVHQ]DGLVSHVHSHU
*UXSSR
SUHVWD]LRQLGLODYRUR
WHUULWRULDOH
LQPLJOLDLDGLHXUR
*UXSSR
5LFDYLSHU
WHUULWRULDOH
DPPLQLVWUD]LRQH
RUGLQDULDGLXQ
*UXSSR
FRQGRPLQLRILQRD
WHUULWRULDOH
XQLWjLPPRELOLDUL
*UXSSR
5LFDYLSHU
WHUULWRULDOH
DPPLQLVWUD]LRQH
RUGLQDULDGLXQ
*UXSSR
FRQGRPLQLRFRQROWUH
WHUULWRULDOH
XQLWjLPPRELOLDUL
0DUJLQHSHUDGGHWWR
QRQGLSHQGHQWHLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
LQPLJOLDLDGLHXUR
,QGLFDWRUH
,QGLFHGLFRSHUWXUD
GHOFRVWRSHULO
JRGLPHQWRGLEHQLGL 7XWWLLVRJJHWWL
WHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHDPPLQLVWUDQRXQPDJJLRUHQXPHURGLFRQGRPLQLDWWUDYHUVRO·DXVLOLRGLXQDVWUXWWXUDSLDUWLFRODWD
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
*UXSSR
WHUULWRULDOH
— 181 —
*UXSSR
9DORUHDJJLXQWRORUGR WHUULWRULDOH
SHUDGGHWWR²LQ
SUHVHQ]DGLVSHVHSHU
*UXSSR
SUHVWD]LRQLGLODYRUR
WHUULWRULDOH
LQPLJOLDLDGLHXUR
*UXSSR
5LFDYLSHU
WHUULWRULDOH
DPPLQLVWUD]LRQH
RUGLQDULDGLXQ
*UXSSR
FRQGRPLQLRILQRD
WHUULWRULDOH
XQLWjLPPRELOLDUL
*UXSSR
5LFDYLSHU
WHUULWRULDOH
DPPLQLVWUD]LRQH
RUGLQDULDGLXQ
*UXSSR
FRQGRPLQLRFRQROWUH
WHUULWRULDOH
XQLWjLPPRELOLDUL
0DUJLQHSHUDGGHWWR
QRQGLSHQGHQWHLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
LQPLJOLDLDGLHXUR
,QGLFDWRUH
0RGDOLWjGL
,QGLFDWRUH
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUD
GHOFRVWRSHULO
JRGLPHQWRGLEHQLGL 7XWWLLVRJJHWWL
WHU]LHGHJOL
DPPRUWDPHQWL
&OXVWHU&RQWULEXHQWLFKHVYROJRQRSUHYDOHQWHPHQWHDWWLYLWjGL)DFLOLW\0DQDJHPHQW
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72(9$/25,62*/,$3(5*/,,1',&$725,',&2(5(1=$
$77,9,7­',/$9252$8721202
&OXVWHU
0RGDOLWjGL 5HVDRUDULDSHUDGGHWWR
GLVWULEX]LRQH
6RJOLDPDVVLPD
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
&RPSHQVLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQ
&OXVWHU 0RGDOLWjGLGLVWULEX]LRQH FRQGRPLQLRFRQROWUHXQLWjLPPRELOLDUL
6RJOLDPLQLPD
6RJOLDPDVVLPD
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
&RPSHQVLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQ
FRQGRPLQLRILQRDXQLWjLPPRELOLDUL
&OXVWHU 0RGDOLWjGLGLVWULEX]LRQH
6RJOLDPLQLPD
6RJOLDPDVVLPD
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
&OXVWHU 0RGDOLWjGLGLVWULEX]LRQH
GLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]D
GLVSHVHSHUSUHVWD]LRQL
GLODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
6RJOLDPLQLPD
6RJOLDPLQLPD
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
— 182 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&OXVWHU
,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVL
0RGDOLWjGLGLVWULEX]LRQH
6RJOLDPLQLPD
6RJOLDPDVVLPD
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
— 183 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72(9$/25,62*/,$3(5*/,,1',&$725,',&2(5(1=$$77,9,7­',
,035(6$
&OXVWHU
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHSHUDGGHWWR
QRQGLSHQGHQWHLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
LQPLJOLDLDGLHXUR
5LFDYLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQ
FRQGRPLQLRFRQROWUHXQLWjLPPRELOLDUL
6RJOLDPLQLPD
6RJOLDPLQLPD
6RJOLDPDVVLPD
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
&OXVWHU
0RGDOLWjGLGLVWULEX]LRQH
5LFDYLSHUDPPLQLVWUD]LRQHRUGLQDULDGLXQFRQGRPLQLRILQRD
XQLWjLPPRELOLDUL
6RJOLDPLQLPD
6RJOLDPDVVLPD
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
— 184 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
&OXVWHU
0RGDOLWjGL
GLVWULEX]LRQH
9DORUHDJJLXQWRORUGRSHUDGGHWWR²LQSUHVHQ]D
GLVSHVHSHUSUHVWD]LRQLGLODYRURLQPLJOLDLDGL
HXUR
6RJOLDPLQLPD
6RJOLDPDVVLPD
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
— 185 —
Serie generale - n. 301
— 186 —
0RGDOLWjGL
GLVWULEX]LRQH
0RGDOLWjGL
GLVWULEX]LRQH
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHDPPLQLVWUDQRXQPDJJLRUHQXPHURGLFRQGRPLQLDWWUDYHUVRO·DXVLOLRGLXQDVWUXWWXUDSLDUWLFRODWD
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLDPPLQLVWUD]LRQHLPPRELOLDUH
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLJHVWLRQHLPPRELOLDUH
68%$//(*$72)²',675,%8=,21,9(17,/,&+(,1',&$725,',1250$/,7­(&2120,&$$77,9,7­',/$9252$8721202
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 187 —
0RGDOLWjGL
GLVWULEX]LRQH
0RGDOLWjGL
GLVWULEX]LRQH
0RGDOLWjGL
GLVWULEX]LRQH
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHLFRVWL
UHVLGXDOLGLJHVWLRQHVXL 7XWWLLVRJJHWWL
ULFDYL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHVYROJRQRSUHYDOHQWHPHQWHDWWLYLWjGL)DFLOLW\0DQDJHPHQW
,QFLGHQ]DGHLFRVWL
UHVLGXDOLGLJHVWLRQHVXL 7XWWLLVRJJHWWL
ULFDYL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHDPPLQLVWUDQRXQPDJJLRUHQXPHURGLFRQGRPLQLDWWUDYHUVRO·DXVLOLRGLXQDVWUXWWXUDSLDUWLFRODWD
,QFLGHQ]DGHLFRVWL
UHVLGXDOLGLJHVWLRQHVXL 7XWWLLVRJJHWWL
ULFDYL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLDPPLQLVWUD]LRQHLPPRELOLDUH
,QFLGHQ]DGHLFRVWL
UHVLGXDOLGLJHVWLRQHVXL 7XWWLLVRJJHWWL
ULFDYL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLJHVWLRQHLPPRELOLDUH
68%$//(*$72)²',675,%8=,21,9(17,/,&+(,1',&$725,',1250$/,7­(&2120,&$$77,9,7­',,035(6$
30-12-2014
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72*9$/25,62*/,$3(5*/,,1',&$725,',1250$/,7­
(&2120,&$$77,9,7­',/$9252$8721202
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
0RGDOLWjGL
QHWWRGHLFDQRQLGL
&OXVWHU
GLVWULEX]LRQH ORFD]LRQHVXLFRPSHQVL
6RJOLDPDVVLPD
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
— 188 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
68%$//(*$72*9$/25,62*/,$3(5*/,,1',&$725,',1250$/,7­
(&2120,&$$77,9,7­',,035(6$
,QFLGHQ]DGHLFRVWL
0RGDOLWjGL UHVLGXDOLGLJHVWLRQH
&OXVWHU
VXLULFDYL
GLVWULEX]LRQH
6RJOLDPDVVLPD
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
— 189 —
Serie generale - n. 301
— 190 —
1XPHURGL8QLWjLPPRELOLDULJHVWLWHHVFOXVLLWHUUHQLGLFXLVLJHVWLVFHODORFD]LRQH
SRQGHUDWRFRQLFDQRQLGLORFD]LRQH
&/867(5
GRYH 7RWDOH FRQGRPuQL DPPLQLVWUDWL &RQGRPuQL ILQR D XQLWj LPPRELOLDUL &RQGRPuQL DPPLQLVWUDWL 1XPHUR &RQGRPuQL FRQ ROWUH XQLWj LPPRELOLDUL &RQGRPuQL DPPLQLVWUDWL
1XPHUR
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
7RWDOHFRQGRPLQLDPPLQLVWUDWLSRQGHUDWRFRQOHVSHVHFRQGRPLQLDOLDPPLQLVWUDWH 7RWDOHFRQGRPuQLDPPLQLVWUDWLSHVRGLSRQGHUD]LRQHGLYLVR
&RQGRPuQLFRQROWUHXQLWjLPPRELOLDUL8QLWjLPPRELOLDULDPPLQLVWUDWH 1XPHURGL&RQGRPuQLFRQROWUHXQLWjLPPRELOLDULDELWD]LRQLXIILFLQHJR]LER[FKHQRQFRVWLWXLVFRQRSHUWLQHQ]H
GHOOHXQLWjLPPRELOLDULDLULJKLSUHFHGHQWL
&RQGRPuQLILQRDXQLWjLPPRELOLDUL8QLWjLPPRELOLDULDPPLQLVWUDWH 1XPHURGL&RQGRPuQLILQRDXQLWjLPPRELOLDULDELWD]LRQLXIILFLQHJR]LER[FKHQRQFRVWLWXLVFRQRSHUWLQHQ]HGHOOH
XQLWjLPPRELOLDULDLULJKLSUHFHGHQWL
7RWDOHER[QRQGLSHUWLQHQ]DDPPLQLVWUDWL 1XPHURGL&RQGRPuQLILQRDXQLWjLPPRELOLDULER[FKHQRQFRVWLWXLVFRQRSHUWLQHQ]HGHOOHXQLWjLPPRELOLDULDLULJKLSUHFHGHQWL&RQGRPuQLFRQROWUH
XQLWjLPPRELOLDULER[FKHQRQFRVWLWXLVFRQRSHUWLQHQ]HGHOOHXQLWjLPPRELOLDULDLULJKLSUHFHGHQWL
7RWDOHVSHVH 6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH6SHVHSHUSUHVWD]LRQLGLFROODERUD]LRQHFRRUGLQDWDHFRQWLQXDWLYD&RPSHQVLFRUULVSRVWLDWHU]LSHUSUHVWD]LRQLGLUHWWDPHQWHDIIHUHQWLO
DWWLYLWj
SURIHVVLRQDOHHDUWLVWLFD&RQVXPL$OWUHVSHVH
'RYH
&RQGRPuQLFRQROWUHXQLWjLPPRELOLDUL8QLWjLPPRELOLDULDPPLQLVWUDWH
7RWDOHFRQGRPuQLDPPLQLVWUDWLSRQGHUDWRFRQOHVSHVHFRQGRPLQLDOLDPPLQLVWUDWH
&/867(5
&RQGRPuQLILQRDXQLWjLPPRELOLDUL8QLWjLPPRELOLDULDPPLQLVWUDWH
7RWDOHVSHVHTXRWDILQRDHXUR
7RWDOHER[QRQGLSHUWLQHQ]DDPPLQLVWUDWL
6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH6SHVHSHUSUHVWD]LRQLGLFROODERUD]LRQH
FRRUGLQDWDHFRQWLQXDWLYD&RPSHQVLFRUULVSRVWLDWHU]LSHUSUHVWD]LRQLGLUHWWDPHQWH
DIIHUHQWLO
DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD
1XPHURGL&RQGRPuQLFRQROWUHXQLWjLPPRELOLDULER[FKHQRQFRVWLWXLVFRQR
SHUWLQHQ]HGHOOHXQLWjLPPRELOLDULDLULJKLSUHFHGHQWL
1XPHURGL8QLWjLPPRELOLDULJHVWLWHHVFOXVLLWHUUHQL
1XPHURGL&RQGRPuQLILQRDXQLWjLPPRELOLDULER[FKHQRQFRVWLWXLVFRQRSHUWLQHQ]H
GHOOHXQLWjLPPRELOLDULDLULJKLSUHFHGHQWL
&/867(5
9$5,$%,/(
&RQVXPL$OWUHVSHVHTXRWDILQRDHXUR
&RQVXPL$OWUHVSHVH
68%$//(*$72+&2()),&,(17,'(//()81=,21,',&203(162
30-12-2014
Serie generale - n. 301
9DULDELOLFRQWDELOLHVSUHVVHLQHXUR
,OFRPSHQVRSXQWXDOHHLOFRPSHQVRPLQLPRVHQHJDWLYLVRQRSRVWLXJXDOLD]HUR
GRYHSHVRGLSRQGHUD]LRQH YDORUHPLQLQRWUD8QLWjLPPRELOLDULJHVWLWHHVFOXVLLWHUUHQLGLFXLVLJHVWLVFHODORFD]LRQH$PPRQWDUHFRPSOHVVLYRGHLFDQRQLGLORFD]LRQHGLYLVR8QLWjLPPRELOLDUL
JHVWLWHHVFOXVLLWHUUHQLGLFXLVLJHVWLVFHODORFD]LRQH1XPHURHVH8QLWjLPPRELOLDULJHVWLWHHVFOXVLLWHUUHQLGLFXLVLJHVWLVFHODORFD]LRQH1XPHURqPDJJLRUHGL]HURDOWULPHQWL
DVVXPHYDORUHSDULD]HUR
1XPHURGL8QLWjLPPRELOLDULJHVWLWHHVFOXVLLWHUUHQLGLFXLVLJHVWLVFHODORFD]LRQHSRQGHUDWRFRQLFDQRQLGLORFD]LRQH = 8QLWjLPPRELOLDULJHVWLWHHVFOXVLLWHUUHQLGLFXLVLJHVWLVFHODORFD]LRQH
1XPHURSHVRGLSRQGHUD]LRQHGLYLVR
SHVRGLSRQGHUD]LRQH YDORUHPLQLQRWUD7RWDOHVSHVHFRQGRPLQLDOL DPPLQLVWUDWHGLYLVR7RWDOHFRQGRPuQLDPPLQLVWUDWLHVH7RWDOHFRQGRPuQLDPPLQLVWUDWLqPDJJLRUHGL]HUR
DOWULPHQWLDVVXPHYDORUHSDULD]HUR
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 191 —
Serie generale - n. 301
&ROODERUDWRULGHOO·LPSUHVDIDPLOLDUHHFRQLXJHGHOO·D]LHQGDFRQLXJDOHHIDPLOLDULGLYHUVL
SHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR$VVRFLDWLLQSDUWHFLSD]LRQHSHUFHQWXDOHGL
ODYRURSUHVWDWRGLYLVRH6RFLSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVRHVFOXVRLO
SULPRVRFLR
6SHVHSHUDFTXLVWLGLVHUYL]L&RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUH
VRFLHWjHGHQWLVRJJHWWLDOO·,UHV$OWULFRVWLSHUVHUYL]L&RVWRSHUEHQLPRELOLDFTXLVLWL
LQGLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQHQRQILQDQ]LDULDHGLQROHJJLR$EERQDPHQWLD
ULYLVWHHJLRUQDOLDFTXLVWRGLOLEULVSHVHSHUFDQFHOOHULD6SHVHSHURPDJJLRDFOLHQWLHG
DUWLFROLSURPR]LRQDOL
&9352'6SHVHSHUDFTXLVWLGLVHUYL]L&RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGL
DPPLQLVWUDWRUHVRFLHWjHGHQWLVRJJHWWLDOO·,UHV$OWULFRVWLSHUVHUYL]L&RVWRSHUEHQL
PRELOLDFTXLVLWLLQGLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQHQRQILQDQ]LDULDHGLQROHJJLR
$EERQDPHQWLDULYLVWHHJLRUQDOLDFTXLVWRGLOLEULVSHVHSHUFDQFHOOHULD6SHVHSHU
RPDJJLRDFOLHQWLHGDUWLFROLSURPR]LRQDOL
7RWDOHER[QRQGLSHUWLQHQ]DDPPLQLVWUDWL
&267,727$/,TXRWDILQRDHXUR
&267,727$/,TXRWDILQRDHXUR
&267,727$/,TXRWDILQRDHXUR
&267,727$/,TXRWDILQRDHXUR
&RQGRPuQLILQRDXQLWjLPPRELOLDUL8QLWjLPPRELOLDULDPPLQLVWUDWH
&RQGRPuQLFRQROWUHXQLWjLPPRELOLDUL8QLWjLPPRELOLDULDPPLQLVWUDWH
1XPHURGL8QLWjLPPRELOLDULJHVWLWHHVFOXVLLWHUUHQL
6SHVHSHUODYRURGLSHQGHQWHHSHUDOWUHSUHVWD]LRQLGLYHUVHGDODYRURGLSHQGHQWHDIIHUHQWL
O
DWWLYLWjGHOO
LPSUHVD&RPSHQVLFRUULVSRVWLDLVRFLSHUO
DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWj
GLSHUVRQH
&9352'
&/867(5
6SHVHSHUDFTXLVWLGLVHUYL]L&RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUH
VRFLHWjHGHQWLVRJJHWWLDOO·,UHV$OWULFRVWLSHUVHUYL]L&RVWRSHUEHQLPRELOLDFTXLVLWL
LQGLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQHQRQILQDQ]LDULDHGLQROHJJLR6SHVHSHUODYRUR
GLSHQGHQWHHSHUDOWUHSUHVWD]LRQLGLYHUVHGDODYRURGLSHQGHQWHDIIHUHQWLO
DWWLYLWj
GHOO
LPSUHVD&RPSHQVLFRUULVSRVWLDLVRFLSHUO
DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjGL
SHUVRQH$EERQDPHQWLDULYLVWHHJLRUQDOLDFTXLVWRGLOLEULVSHVHSHUFDQFHOOHULD
6SHVHSHURPDJJLRDFOLHQWLHGDUWLFROLSURPR]LRQDOL
9$5,$%,/(
— 192 —
&/867(5
&/867(5
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
&/867(5
68%$//(*$72+&2()),&,(17,'(//()81=,21,',5,&$92
30-12-2014
Serie generale - n. 301
9$5,$%,/(
&/867(5
&/867(5
&/867(5
&/867(5
— 193 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
9DULDELOLFRQWDELOLHVSUHVVHLQHXUR
/DYDULDELOHYLHQHULGHWHUPLQDWDLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR,QROWUHO
HVFOXVLRQHGHOSULPRVRFLRqDFDSLHQ]DGHOWRWDOHGHLVRFL
,OULFDYRSXQWXDOHHLOULFDYRPLQLPRVHQHJDWLYLVRQRSRVWLXJXDOLD]HUR
GRYHSHVRGLSRQGHUD]LRQH YDORUHPLQLQRWUD8QLWjLPPRELOLDULJHVWLWHHVFOXVLLWHUUHQLGLFXLVLJHVWLVFHODORFD]LRQH$PPRQWDUHFRPSOHVVLYRGHLFDQRQLGLORFD]LRQHGLYLVR8QLWjLPPRELOLDULJHVWLWH
HVFOXVLLWHUUHQLGLFXLVLJHVWLVFHODORFD]LRQH1XPHURHVH8QLWjLPPRELOLDULJHVWLWHHVFOXVLLWHUUHQLGLFXLVLJHVWLVFHODORFD]LRQH1XPHURqPDJJLRUHGL]HURDOWULPHQWLDVVXPHYDORUHSDULD]HUR
1XPHURGL8QLWjLPPRELOLDULJHVWLWHHVFOXVLLWHUUHQLGLFXLVLJHVWLVFHODORFD]LRQHSRQGHUDWRFRQLFDQRQLGLORFD]LRQH = 8QLWjLPPRELOLDULJHVWLWHHVFOXVLLWHUUHQLGLFXLVLJHVWLVFHODORFD]LRQH
1XPHURSHVRGLSRQGHUD]LRQHGLYLVR
YDORUHPLQLQRWUD7RWDOHVSHVHFRQGRPLQLDOLDPPLQLVWUDWHGLYLVR7RWDOHFRQGRPuQLDPPLQLVWUDWLHVH7RWDOHFRQGRPuQLDPPLQLVWUDWLqPDJJLRUHGL]HUR
GRYH 7RWDOH FRQGRPuQL DPPLQLVWUDWL &RQGRPuQL ILQR D XQLWj LPPRELOLDUL &RQGRPuQL DPPLQLVWUDWL 1XPHUR &RQGRPuQL FRQ ROWUH XQLWj LPPRELOLDUL &RQGRPuQL DPPLQLVWUDWL
1XPHUR
SHVRGLSRQGHUD]LRQH
DOWULPHQWLDVVXPHYDORUHSDULD]HUR
7RWDOHFRQGRPLQLDPPLQLVWUDWLSRQGHUDWRFRQOHVSHVHFRQGRPLQLDOLDPPLQLVWUDWH 7RWDOHFRQGRPuQLDPPLQLVWUDWLSHVRGLSRQGHUD]LRQHGLYLVR
&RQGRPuQLFRQROWUHXQLWjLPPRELOLDUL8QLWjLPPRELOLDULDPPLQLVWUDWH 1XPHURGL&RQGRPuQLFRQROWUHXQLWjLPPRELOLDULDELWD]LRQLXIILFLQHJR]LER[FKHQRQFRVWLWXLVFRQRSHUWLQHQ]H
GHOOHXQLWjLPPRELOLDULDLULJKLSUHFHGHQWL
&RQGRPuQLILQRDXQLWjLPPRELOLDUL8QLWjLPPRELOLDULDPPLQLVWUDWH 1XPHURGL&RQGRPuQLILQRDXQLWjLPPRELOLDULDELWD]LRQLXIILFLQHJR]LER[FKHQRQFRVWLWXLVFRQRSHUWLQHQ]HGHOOH
XQLWjLPPRELOLDULDLULJKLSUHFHGHQWL
7RWDOHER[QRQGLSHUWLQHQ]DDPPLQLVWUDWL 1XPHURGL&RQGRPuQLILQRDXQLWjLPPRELOLDULER[FKHQRQFRVWLWXLVFRQRSHUWLQHQ]HGHOOHXQLWjLPPRELOLDULDLULJKLSUHFHGHQWL&RQGRPuQLFRQROWUH
XQLWjLPPRELOLDULER[FKHQRQFRVWLWXLVFRQRSHUWLQHQ]HGHOOHXQLWjLPPRELOLDULDLULJKLSUHFHGHQWL
&267,727$/, &9352'6SHVHSHUDFTXLVWLGLVHUYL]L&RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjHGHQWLVRJJHWWLDOO·,UHV$OWULFRVWLSHUVHUYL]L&RVWRSHUEHQLPRELOL
DFTXLVLWLLQGLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQHQRQILQDQ]LDULDHGLQROHJJLR6SHVHSHUODYRURGLSHQGHQWHHSHUDOWUHSUHVWD]LRQLGLYHUVHGDODYRURGLSHQGHQWHDIIHUHQWLO
DWWLYLWjGHOO·LPSUHVD&RPSHQVL
FRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjGLSHUVRQH$EERQDPHQWLDULYLVWHHJLRUQDOLDFTXLVWRGLOLEULVSHVHSHUFDQFHOOHULD6SHVHSHURPDJJLRDFOLHQWLHGDUWLFROLSURPR]LRQDOL
&9352' YDORUHPDVVLPRWUD&RVWRGHO9HQGXWRHSHUODSURGX]LRQHGLVHUYL]LH
1XPHURGL8QLWjLPPRELOLDULJHVWLWHHVFOXVLLWHUUHQLGLFXLVLJHVWLVFHODORFD]LRQH
SRQGHUDWRFRQLFDQRQLGLORFD]LRQH
'RYH
7RWDOHFRQGRPuQLDPPLQLVWUDWLSRQGHUDWRFRQOHVSHVHFRQGRPLQLDOLDPPLQLVWUDWH
30-12-2014
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$//(*$72
1 27$ 7 (&1,&$( 0 (72'2/2*,&$ 678',2',6(7725(:.8
$7 7 , 9 , 7 ­ 3 52 ) ( 6 6 , 2 1 $ / ( 6 92 /7$ '$ 36,&2/2*,
— 194 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&5,7(5,3(5/·(92/8=,21('(//2678',2',6(7725(
/
DSSOLFD]LRQHGHOORVWXGLRGLVHWWRUHDWWULEXLVFHDLFRQWULEXHQWLXQ´FRPSHQVRSRWHQ]LDOHµ7DOHFRPSHQVRYLHQH
VWLPDWRWHQHQGRFRQWRVLDGLYDULDELOLFRQWDELOLVLDGLYDULDELOLVWUXWWXUDOLFKHLQIOXHQ]DQRLOULVXOWDWRHFRQRPLFR
GHO VRJJHWWR HVHUFHQWH DWWLYLWj SURIHVVLRQDOH GL VHJXLWR ´SURIHVVLRQLVWDµ DQFKH FRQ ULIHULPHQWR DO FRQWHVWR
WHUULWRULDOH LQ FXL OR VWHVVR RSHUD /
DSSOLFD]LRQH GHOOR VWXGLR FRQVHQWH LQROWUH GL YDOXWDUH OD FRHUHQ]D H OD
QRUPDOLWjHFRQRPLFDGHOSURIHVVLRQLVWDLQUHOD]LRQHDOVHWWRUHHFRQRPLFRGLDSSDUWHQHQ]D
$ WDOH VFRSR QHOO·DPELWR GHOOR VWXGLR YHQJRQR LQGLYLGXDWH OH UHOD]LRQL WUD OH YDULDELOL FRQWDELOL H OH YDULDELOL
VWUXWWXUDOLSHUDQDOL]]DUHLGLYHUVLPRGHOOLRUJDQL]]DWLYLLPSLHJDWLQHOO·HVSOHWDPHQWRGHOO·DWWLYLWj
/·HYROX]LRQH GHOOR VWXGLR GL VHWWRUH q ILQDOL]]DWD D FRJOLHUH HYHQWXDOL FDPELDPHQWL VWUXWWXUDOL PRGLILFKH GHL
PRGHOOLRUJDQL]]DWLYLHYDULD]LRQLGLPHUFDWRDOO·LQWHUQRGHOVHWWRUHHFRQRPLFRHSUHVXSSRQHXQ·DWWLYLWjGLDQDOLVL
HULFHUFDHFRQRPLFDFKHYLHQHFRQGRWWDDWWLQJHQGRDIRQWLLQIRUPDWLYHSXEEOLFKHHQRQSXEEOLFKH
/HIRQWLSXEEOLFKHVRQRUDSSUHVHQWDWHGDHODERUD]LRQLGLHQWLRVRFLHWjFKHVYROJRQRULFHUFKHGLWLSRHFRQRPLFR
VWDWLVWLFR,VWDW&HQVLVHFFHFKHIRUQLVFRQRGDWLHLQIRUPD]LRQLVXOO·DQGDPHQWRHFRQRPLFRGHLPHUFDWLVXOOD
VWUXWWXUDHODGLPHQVLRQHGHLSULQFLSDOLVHWWRULHFRQRPLFLHVXOODFRQJLXQWXUDHFRQRPLFD
2OWUH DOOH IRQWL GL FDUDWWHUH SXEEOLFR FKH IRUQLVFRQR LQIRUPD]LRQL SL JHQHUDOL YHQJRQR XWLOL]]DWH IRQWL
VSHFLILFKH VHWWRULDOL ULYLVWH VSHFLDOL]]DWH SDUWHFLSD]LRQH D VHPLQDUL H FRQYHJQL VSHFLDOLVWLFL SXEEOLFD]LRQL GHL
SULQFLSDOL LVWLWXWL GL ULFHUFD LQGDJLQL FDPSLRQDULH HFF VL WUDWWD GL IRQWL FKH LOOXVWUDQR O·DUWLFROD]LRQH HG
HYROX]LRQH GHOO·RIIHUWD VLD LQ WHUPLQL GL PRGHOOL RUJDQL]]DWLYL DGRWWDWL FKH GL JDPPD GL VHUYL]L SURIHVVLRQDOL
HURJDWL O·DQGDPHQWR H OD FRPSRVL]LRQH GHOOD GRPDQGD O·LPSDWWR GL SURYYHGLPHQWL QRUPDWLYL VXOO·DWWLYLWj
VXOO·RUJDQL]]D]LRQHHVXOODVWUXWWXUDGHOORVWXGLRSURIHVVLRQDOH
8Q VXSSRUWR SL GLUHWWR H RSHUDWLYR SURYLHQH GD XQD UHWH GL WHFQLFL FRVWLWXLWD GD LVWLWXWL XQLYHUVLWDUL FHQWUL GL
ULFHUFDGRFHQWLHULFHUFDWRULFKHRSHUDDQFKHWUDPLWHO·XWLOL]]RGLSDQHOGLLPSUHVHHSURIHVVLRQLVWL
'LVHJXLWRYHQJRQRHVSRVWLLFULWHULVHJXLWLSHUODFRVWUX]LRQHGHOORVWXGLRGLVHWWRUH:.8HYROX]LRQHGHOOR
VWXGLR9.8
/·DWWLYLWjHFRQRPLFDRJJHWWRGHOORVWXGLRGLVHWWRUH:.8qTXHOODUHODWLYDDOVHJXHQWHFRGLFH$7(&2
•
$WWLYLWjVYROWDGDSVLFRORJL
/·HYROX]LRQHGHOORVWXGLRGLVHWWRUHqVWDWDFRQGRWWDDQDOL]]DQGROHLQIRUPD]LRQLFRQWHQXWHQHOPRGHOOR9.8
SHUODFRPXQLFD]LRQHGHLGDWLULOHYDQWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUHSHULOSHULRGRG·LPSRVWD
WUDVPHVVRGDLFRQWULEXHQWLTXDOHDOOHJDWRDOPRGHOOR81,&2
,FRQWULEXHQWLLQWHUHVVDWLVRQRULVXOWDWLSDULD
1HOOD SULPD IDVH GL DQDOLVL SRVL]LRQL VRQR VWDWH VFDUWDWH LQ TXDQWR QRQ XWLOL]]DELOL QHOOH VXFFHVVLYH IDVL
GHOO·HODERUD]LRQH GHOOR VWXGLR GL VHWWRUH FDVL GL FHVVD]LRQH GL DWWLYLWj VLWXD]LRQL GL QRQ QRUPDOH VYROJLPHQWR
GHOO·DWWLYLWjFRQWULEXHQWLIRUIHWDULFRPSHQVLGLFKLDUDWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUHPDJJLRULGL
HXUR
6XL GDWL FRQWHQXWL QHL PRGHOOL VWXGL GL VHWWRUH GHOOD UHVWDQWH SODWHD VRQR VWDWH FRQGRWWH DQDOLVL VWDWLVWLFKH SHU
ULOHYDUHODFRPSOHWH]]DODFRUUHWWH]]DHODFRHUHQ]DGHOOHLQIRUPD]LRQLLQHVVLFRQWHQXWH
7DOL DQDOLVL KDQQR FRPSRUWDWR DL ILQL GHOOD GHILQL]LRQH GHO FDPSLRQH GHOOR VWXGLR OR VFDUWR GL XOWHULRUL SRVL]LRQL,PRWLYLGLVFDUWRVRQRVWDWL
•
•
•
•
•
•
•
TXDGUR'HOHPHQWLVSHFLILFLGHOO
DWWLYLWjQRQFRPSLODWR
TXDGUR*HOHPHQWLFRQWDELOLQRQFRPSLODWR
FRPXQHGHOTXDGUR%XQLWjORFDOLGHVWLQDWHDOO·HVHUFL]LRGHOO·DWWLYLWjHRDQDJUDILFRPDQFDQWHRHUUDWR
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLUHODWLYHDOODPRGDOLWjGLGHWHUPLQD]LRQHGHLFRPSHQVLTXDGUR'
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLUHODWLYHDOODWLSRORJLDGHOO·DWWLYLWjTXDGUR'
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLUHODWLYHDOODWLSRORJLDGHOODFOLHQWHODTXDGUR'
LQFRQJUXHQ]HIUDLGDWLVWUXWWXUDOLHLGDWLFRQWDELOL
— 195 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$VHJXLWRGHJOLVFDUWLHIIHWWXDWLLOQXPHURGHLPRGHOOLRJJHWWRGHOOHVXFFHVVLYHDQDOLVLqULVXOWDWRSDULD
,'(17,),&$=,21('(,*5833,202*(1(,
3HUVXGGLYLGHUHLSURIHVVLRQLVWLLQJUXSSLRPRJHQHLVXOODEDVHGHJOLDVSHWWLVWUXWWXUDOLqVWDWDVHJXLWDXQDVWUDWHJLD
GLDQDOLVLFKHFRPELQDLQVHTXHQ]DGXHWHFQLFKHVWDWLVWLFKHGLWLSRPXOWLYDULDWR
•
•
XQ·DQDOLVLIDWWRULDOHGHOWLSR$QDO\VHGHVGRQQpHVHQHOODIDWWLVSHFLHO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOL
XQSURFHGLPHQWRGL&OXVWHU$QDO\VLV
/·$QDOLVL LQ &RPSRQHQWL 3ULQFLSDOL q XQD WHFQLFD VWDWLVWLFD FKH SHUPHWWH GL ULGXUUH LO QXPHUR GHOOH YDULDELOL
RULJLQDULHSXUFRQVHUYDQGRJUDQSDUWHGHOO·LQIRUPD]LRQHLQL]LDOH$WDOILQHYHQJRQRLGHQWLILFDWHQXRYHYDULDELOL
GHWWHFRPSRQHQWLSULQFLSDOLWUDORURRUWRJRQDOLOLQHDUPHQWHLQGLSHQGHQWLLQFRUUHODWH
/HYDULDELOLSUHVHLQHVDPHQHOO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOLVRQRTXHOOHSUHVHQWLLQWXWWLLTXDGULGHOPRGHOOR
DGHFFH]LRQHGHOOHYDULDELOLGHOTXDGURGHJOLHOHPHQWLFRQWDELOL7DOHVFHOWDQDVFHGDOO·HVLJHQ]DGLFDUDWWHUL]]DUHL
VRJJHWWL LQ EDVH DL SRVVLELOL PRGHOOL RUJDQL]]DWLYL DOOH GLYHUVH PRGDOLWj GL VYROJLPHQWR GHOO·DWWLYLWj HFF WDOH
FDUDWWHUL]]D]LRQH q SRVVLELOH VROR XWLOL]]DQGR OH LQIRUPD]LRQL UHODWLYH DOOD VWUXWWXUD GHL PRGHOOL RUJDQL]]DWLYL DO
PHUFDWRGLULIHULPHQWRHDWXWWLTXHJOLHOHPHQWLVSHFLILFLFKHFDUDWWHUL]]DQROHGLYHUVHUHDOWjSURIHVVLRQDOL
1HOO·DSSOLFD]LRQH GHOO·$QDOLVL LQ &RPSRQHQWL 3ULQFLSDOL q VWDWD VFHOWD OD VROX]LRQH PLJOLRUH LQ WHUPLQL GL
VLJQLILFDWLYLWjVWDWLVWLFDHGHFRQRPLFD3HUWDQWRVRQRVWDWHVFHOWHOHFRPSRQHQWLSULQFLSDOLFKHULHVFRQRDVSLHJDUH
OD PDJJLRU SDUWH GHOOD YDULDQ]D LQL]LDOH H FKH FRQVHQWRQR VXOOD EDVH GHO FULWHULR GHOO·LQWHUSUHWDELOLWj GL
UDSSUHVHQWDUHLGLYHUVLDVSHWWLVWUXWWXUDOLGHOOHDWWLYLWjRJJHWWRGLVWXGLR
/DWHFQLFDVWDWLVWLFDGHOOD&OXVWHU$QDO\VLVDSSOLFDWDDLULVXOWDWLGHOO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOLSHUPHWWHGL
LGHQWLILFDUHJUXSSLRPRJHQHLGLSURIHVVLRQLVWLFOXVWHULQWDOPRGRqSRVVLELOHUDJJUXSSDUHLSURIHVVLRQLVWLFRQ
FDUDWWHULVWLFKHVWUXWWXUDOLHGRUJDQL]]DWLYHVLPLOL
/·XWLOL]]R FRPELQDWR GHOOH GXH WHFQLFKH q SUHIHULELOH ULVSHWWR D XQ·DSSOLFD]LRQH GLUHWWD GHOOD &OXVWHU $QDO\VLV
SRLFKpULGXFHQGRFRQO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOLLOQXPHURGLYDULDELOLVXFXLHIIHWWXDUHLOSURFHGLPHQWR
GLFODVVLILFD]LRQHO·RSHUD]LRQHGLFOXVWHULQJULVXOWDPHQRFRPSOHVVDHSLSUHFLVD
, JUXSSL RPRJHQHL LQGLYLGXDWL VRQR YDOXWDWL DQFKH LQ WHUPLQL GL VLJQLILFDWLYLWj HFRQRPLFD SHU YHULILFDUQH
O·DGHUHQ]DDOODFRQFUHWDUHDOWjVHWWRULDOH
1HO SURFHGLPHQWR GL FOXVWHULQJ DGRWWDWR TXLQGL O·RPRJHQHLWj GHL JUXSSL GHYH HVVHUH LQWHUSUHWDWD QRQ WDQWR LQ
UDSSRUWRDOOHFDUDWWHULVWLFKHGHOOHVLQJROHYDULDELOLTXDQWRLQIXQ]LRQHGHOOHSULQFLSDOLLQWHUUHOD]LRQLHVLVWHQWLWUDOH
YDULDELOLHVDPLQDWHFKHFRQFRUURQRDGHILQLUHLOSURILORGHLVLQJROLJUXSSL
/DGHVFUL]LRQHGHLJUXSSLRPRJHQHLqULSRUWDWDQHO6XE$OOHJDWR$
'(),1,=,21('(//$)81=,21(',&203(162
8QDYROWDVXGGLYLVLLSURIHVVLRQLVWLLQJUXSSLRPRJHQHLqQHFHVVDULRGHWHUPLQDUHSHUFLDVFXQJUXSSRRPRJHQHR
OD IXQ]LRQH PDWHPDWLFD FKH PHJOLR VL DGDWWD DOO·DQGDPHQWR GHL FRPSHQVL GHL SURIHVVLRQLVWL DSSDUWHQHQWL DOOR
VWHVVRJUXSSR3HUGHWHUPLQDUHWDOHIXQ]LRQHVLqULFRUVRDOOD5HJUHVVLRQH/LQHDUH0XOWLSOD
/D 5HJUHVVLRQH /LQHDUH 0XOWLSOD q XQD WHFQLFD VWDWLVWLFD FKH SHUPHWWH GL LQWHUSRODUH L GDWL FRQ XQ PRGHOOR
VWDWLVWLFRPDWHPDWLFR FKH GHVFULYH O·DQGDPHQWR GHOOD YDULDELOH GLSHQGHQWH LQ IXQ]LRQH GL XQD VHULH GL YDULDELOL
LQGLSHQGHQWL
/D VWLPD GHOOD ´IXQ]LRQH GL FRPSHQVRµ q VWDWD HIIHWWXDWD LQGLYLGXDQGR OD UHOD]LRQH WUD LO FRPSHQVR YDULDELOH
GLSHQGHQWHHLGDWLFRQWDELOLHVWUXWWXUDOLGHLSURIHVVLRQLVWLYDULDELOLLQGLSHQGHQWL
Ë RSSRUWXQR ULOHYDUH FKH SULPD GL GHILQLUH LO PRGHOOR GL UHJUHVVLRQH q VWDWD HIIHWWXDWD XQ·DQDOLVL VXL GDWL GHL
SURIHVVLRQLVWLSHUYHULILFDUHOHFRQGL]LRQLGLFRHUHQ]DGHLGDWLQHOO·HVHUFL]LRGHOO·DWWLYLWjHSHUVFDUWDUHLVRJJHWWL
1HOODIDVHGL&OXVWHU$QDO\VLVDOILQHGLJDUDQWLUHODPDVVLPDRPRJHQHLWjGHLVRJJHWWLDSSDUWHQHQWLDFLDVFXQJUXSSRYHQJRQRFODVVLILFDWH
VROR OH RVVHUYD]LRQL FKH SUHVHQWDQR FDUDWWHULVWLFKH VWUXWWXUDOL VLPLOL ULVSHWWR D TXHOOH SURSULH GL XQR VSHFLILFR JUXSSR RPRJHQHR 1RQ
YHQJRQR LQYHFH SUHVL LQ FRQVLGHUD]LRQH DL ILQL GHOOD FODVVLILFD]LRQH L VRJJHWWL FKH SRVVLHGRQR DVSHWWL VWUXWWXUDOL ULIHULELOL
FRQWHPSRUDQHDPHQWH D GXH R SL JUXSSL RPRJHQHL 8JXDOPHQWH QRQ YHQJRQR FODVVLILFDWH OH RVVHUYD]LRQL FKH SUHVHQWDQR XQ SURILOR
VWUXWWXUDOHPROWRGLVVLPLOHULVSHWWRDOO·LQVLHPHGHLFOXVWHULQGLYLGXDWL
— 196 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
DQRPDOL FLz VL q UHVR QHFHVVDULR DO ILQH GL HYLWDUH SRVVLELOL GLVWRUVLRQL QHOOD GHWHUPLQD]LRQH GHOOD ´IXQ]LRQH GL
FRPSHQVRµ
$ WDO ILQH q VWDWR VHOH]LRQDWR LQ EDVH DOOD VXD FDSDFLWj GL LQGLYLGXDUH DQRPDOLH QHOOD UHOD]LRQH WUD OH YRFL
HVDPLQDWHLOVHJXHQWHLQGLFDWRUHGLQDWXUDHFRQRPLFRFRQWDELOH
•
,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQHVXLFRPSHQVL
/DIRUPXODGHOO·LQGLFDWRUHHFRQRPLFRFRQWDELOHqULSRUWDWDQHO6XE$OOHJDWR&
6XFFHVVLYDPHQWHDLILQLGHOODGHWHUPLQD]LRQHGHOFDPSLRQHGLULIHULPHQWRVRQRVWDWLHVFOXVLLSURIHVVLRQLVWLFKH
QRQULVSHWWDYDQROHFRQGL]LRQLGLQRUPDOLWjHFRQRPLFDSHUO·LQGLFDWRUHVRSUDFLWDWR
&RVuGHILQLWRLOFDPSLRQHGLULIHULPHQWRVLqSURFHGXWRDOODGHILQL]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRµSHUFLDVFXQ
JUXSSRRPRJHQHR
3HUODGHWHUPLQD]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRµVRQRVWDWHXWLOL]]DWHYDULDELOLFRQWDELOLYDULDELOLVWUXWWXUDOLH
YDULDELOL WHUULWRULDOL /D VFHOWD GHOOH YDULDELOL VLJQLILFDWLYH q VWDWD HIIHWWXDWD FRQ LO PHWRGR ´VWHSZLVHµ 8QD YROWD
VHOH]LRQDWH OH YDULDELOL OD GHWHUPLQD]LRQH GHOOD ´IXQ]LRQH GL FRPSHQVRµ q RWWHQXWD DSSOLFDQGR LO PHWRGR GHL
PLQLPLTXDGUDWLJHQHUDOL]]DWLFKHFRQVHQWHGLFRQWUROODUHO·HYHQWXDOHSUHVHQ]DGLHWHURVFKHGDVWLFLWjFRQQHVVDDOOD
YDULDELOLWjOHJDWDDGDVSHWWLGLPHQVLRQDOL
1HOODGHILQL]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRµVLqWHQXWRFRQWRGHOOHSRVVLELOLGLIIHUHQ]HGLULVXOWDWLHFRQRPLFL
OHJDWHDOOXRJRGLVYROJLPHQWRGHOO·DWWLYLWjLQPRGRGDLQGLYLGXDUHXOWHULRULGLIIHUHQ]HWHUULWRULDOLROWUHDTXHOOHJLj
ULOHYDWHFRQOD&OXVWHU$QDO\VLV
,Q SDUWLFRODUH VL q WHQXWR FRQWR GHO OLYHOOR GL GRPDQGD H GL RIIHUWD GHOO·DWWLYLWj VYROWD GD SVLFRORJL QHOOH YDULH
SURYLQFLH$WDOILQHqVWDWRSUHGLVSRVWRLOVHJXHQWHLQGLFDWRUH
‡ >FRPSHQVL GHJOL SVLFRORJL SHU DELWDQWH D OLYHOOR SURYLQFLDOHFRPSHQVL GHJOL SVLFRORJL SHU DELWDQWH D OLYHOOR
QD]LRQDOH@²>QXPHURGLSVLFRORJLSHUDELWDQWHDOLYHOORSURYLQFLDOHQXPHURGLSVLFRORJLSHUDELWDQWHDOLYHOOR
QD]LRQDOH@
7DOH LQGLFDWRUH HYLGHQ]LD VLWXD]LRQL GL GLIIHUHQWL YDQWDJJLVYDQWDJJL FRPSHWLWLYL LQ UHOD]LRQH DOOD FROORFD]LRQH
WHUULWRULDOH1HOODGHILQL]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRµOHDUHHWHUULWRULDOLVRQRVWDWHUDSSUHVHQWDWHGDOYDORUH
DVVXQWRGDOO·LQGLFDWRUHLQRJQLSURYLQFLDHGqVWDWDDQDOL]]DWDO·LQWHUD]LRQHGHLYDORULDVVXQWLFRQODYDULDELOH´2UH
GHGLFDWHDOO·DWWLYLWjµ
/·HOHQFRGHLYDORULDVVXQWLGDOO·LQGLFDWRUHLQRJQLSURYLQFLDqULSRUWDWRQHO6XE$OOHJDWR,
,QROWUH QHOOD GHILQL]LRQH GHOOD IXQ]LRQH GL FRPSHQVR VL q WHQXWR FRQWR DQFKH GHOOH GLIIHUHQ]H OHJDWH DOO·´(Wj
SURIHVVLRQDOHµHDOO·DWWLYLWjVYROWDGDLSURIHVVLRQLVWLFKHQHLSULPLDQQLGLHVHUFL]LRGHOO·DWWLYLWjFROODERUDQRFRQ
XQR VWXGLR JLj DYYLDWR 7DOL GLIIHUHQ]H LQWHUYHQJRQR FRPH FRUUHWWLYL GD DSSOLFDUH DO FRHIILFLHQWH GHOOD YDULDELOH
´2UHGHGLFDWHDOO·DWWLYLWjµ
1HO6XE$OOHJDWR+YHQJRQRULSRUWDWHOHYDULDELOLHGLULVSHWWLYLFRHIILFLHQWLGHOOD´IXQ]LRQHGLFRPSHQVRµ
/·LQGLFDWRUHYHULILFDODSODXVLELOLWjWUDODYRFH´DOWUHFRPSRQHQWLQHJDWLYHµHGLOWRWDOHGHLFRPSHQVL1HOFDOFRORGHOOHDOWUHFRPSRQHQWL
QHJDWLYHQRQVLWLHQHFRQWRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLLPPRELOLHDEHQLVWUXPHQWDOLPRELOL
9HGL VH]LRQH ´$QDOLVL GHOOD 1RUPDOLWj (FRQRPLFDµ 6L ID SUHVHQWH FKH DL VROL ILQL LQGLFDWL SHU O·LQGLFDWRUH ´,QFLGHQ]D GHOOH DOWUH
FRPSRQHQWL QHJDWLYH DO QHWWR GHL FDQRQL GL ORFD]LRQH VXL FRPSHQVLµ VL ID ULIHULPHQWR DL FRPSHQVL GLFKLDUDWL QHO GHQRPLQDWRUH GHOOD
IRUPXOD
,O PHWRGR VWHSZLVH XQLVFH GXH WHFQLFKH VWDWLVWLFKH SHU OD VFHOWD GHO PLJOLRU PRGHOOR GL VWLPD OD UHJUHVVLRQH IRUZDUG ´LQ DYDQWLµ H OD
UHJUHVVLRQHEDFNZDUG´LQGLHWURµ/DUHJUHVVLRQHIRUZDUGSUHYHGHGLSDUWLUHGDXQPRGHOORVHQ]DYDULDELOLHGLLQWURGXUUHSDVVRGRSRSDVVR
OD YDULDELOH SL VLJQLILFDWLYD PHQWUH OD UHJUHVVLRQH EDFNZDUG LQL]LD FRQVLGHUDQGR QHO PRGHOOR WXWWH OH YDULDELOL GLVSRQLELOL H ULPXRYHQGR
SDVVRSHUSDVVRTXHOOHQRQVLJQLILFDWLYH&RQLOPHWRGRVWHSZLVHSDUWHQGRGDXQPRGHOORGLUHJUHVVLRQHVHQ]DYDULDELOLVLSURFHGHSHUSDVVL
VXFFHVVLYLDOWHUQDQGRGXHIDVLQHOODSULPDIDVHVLLQWURGXFHODYDULDELOHPDJJLRUPHQWHVLJQLILFDWLYDIUDTXHOOHFRQVLGHUDWHQHOODVHFRQGDVL
ULHVDPLQD O·LQVLHPHGHOOHYDULDELOLLQWURGRWWHSHUYHULILFDUHVHqSRVVLELOH HOLPLQDUQHTXDOFXQDQRQSL VLJQLILFDWLYD,O SURFHVVRFRQWLQXD
ILQR D TXDQGR QRQ q SL SRVVLELOH DSSRUWDUH DOFXQD PRGLILFD DOO·LQVLHPH GHOOH YDULDELOL RYYHUR TXDQGR QHVVXQD YDULDELOH SXz HVVHUH
DJJLXQWDRSSXUHHOLPLQDWD
,O QXPHUR GHJOL DELWDQWL D OLYHOOR SURYLQFLDOH H D OLYHOOR QD]LRQDOH VRQR VWDWL GHVXQWL GD )217( ,67$7 ² &HQVLPHQWR JHQHUDOH GHOOD
SRSROD]LRQHHGHOOHDELWD]LRQL
— 197 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$33/,&$=,21('(//2678',2',6(7725(
,QIDVHGLDSSOLFD]LRQHGHOORVWXGLRGLVHWWRUHVRQRSUHYLVWHOHVHJXHQWLIDVL
$QDOLVL'LVFULPLQDQWH
$QDOLVLGHOOD&RHUHQ]D
$QDOLVLGHOOD1RUPDOLWj(FRQRPLFD
$QDOLVLGHOOD&RQJUXLWj
•
•
•
•
$1$/,6,',6&5,0,1$17(
8QDYROWDVXGGLYLVLLSURIHVVLRQLVWLLQJUXSSLRPRJHQHLqQHFHVVDULRGHWHUPLQDUHXQDUHJRODGLFODVVLILFD]LRQHLQ
JUDGRGLGHILQLUHO·DSSDUWHQHQ]DGLFLDVFXQVRJJHWWRDLJUXSSLRPRJHQHLLQGLYLGXDWLQHOODIDVHGL&OXVWHU$QDO\VLV
ODGHVFUL]LRQHGHLJUXSSLRPRJHQHLqULSRUWDWDQHO6XE$OOHJDWR$
$OULJXDUGRqVWDWDXWLOL]]DWDO·DQDOLVLGLVFULPLQDQWHOLQHDUHGL)LVKHU6LWUDWWDGLXQDWHFQLFDVWDWLVWLFDPXOWLYDULDWD
XWLOHSHULGHQWLILFDUHTXHOOHYDULDELOLFKHPHJOLRGLVFULPLQDQRLJUXSSLRPRJHQHL
1HOO·DQDOLVLGLVFULPLQDQWHOLQHDUHSHURJQLJUXSSRRPRJHQHRYLHQHFDOFRODWDXQDIXQ]LRQHGLFODVVLILFD]LRQHFRPH
FRPELQD]LRQHOLQHDUHGHOOHYDULDELOLGLVFULPLQDQWL
6XOOD EDVH GHL SXQWHJJL GLVFULPLQDQWL RWWHQXWL XWLOL]]DQGR WDOH IXQ]LRQH YLHQH GHWHUPLQDWD OD SUREDELOLWj GL
DSSDUWHQHQ]D DL JUXSSL RPRJHQHL ,Q WDO PRGR q SRVVLELOH DVVRFLDUH RJQL VLQJROR SURIHVVLRQLVWD DG XQR R SL
JUXSSLRPRJHQHLGHILQHQGROHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]D
1HO 6XE $OOHJDWR % YHQJRQR ULSRUWDWH OH YDULDELOL ULVXOWDWH VLJQLILFDWLYH QHOO·DQDOLVL FRQ L ULVSHWWLYL SHVL
GLVFULPLQDQWLLQGLYLGXDWLSHURJQLJUXSSRRPRJHQHR
$1$/,6,'(//$&2(5(1=$
/·DQDOLVLGHOODFRHUHQ]DSHUPHWWHGLYDOXWDUHLOSURIHVVLRQLVWDVXOODEDVHGLVSHFLILFLLQGLFDWRULHFRQRPLFLFDOFRODWL
FRPHUDSSRUWRWUDGHWHUPLQDWHYDULDELOLFRQWDELOLHRVWUXWWXUDOLFRQWHQXWHQHOPRGHOORSHUODFRPXQLFD]LRQHGHL
GDWLULOHYDQWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUH*OL LQGLFDWRULVRQRVWDWLVHOH]LRQDWLLQEDVHDOODORUR
FDSDFLWjGLPLVXUDUHO·HIILFLHQ]DHODUHGGLWLYLWjGHOO·DWWLYLWjSURIHVVLRQDOH
&RQO·DQDOLVLGHOODFRHUHQ]DSHUFLDVFXQVRJJHWWRVLYDOXWDLOSRVL]LRQDPHQWRGHOYDORUHGLRJQLVLQJRORLQGLFDWRUH
ULVSHWWRDGXQLQWHUYDOORLQGLYLGXDWRFRPHHFRQRPLFDPHQWHFRHUHQWHVXOODEDVHGHLYDORULVRJOLDDPPLVVLELOL
*OLLQGLFDWRULXWLOL]]DWLQHOO·DQDOLVLGHOODFRHUHQ]DVRQRLVHJXHQWL
•
,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVL
•
,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWL
/HYDULDELOLGLVFULPLQDQWLYHQJRQRVHOH]LRQDWHFRQLOPHWRGRVWHSZLVHSDUWHQGRGDTXHOOHXWLOL]]DWHQHOO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOL
/DIXQ]LRQHGLFODVVLILFD]LRQHqGHILQLWDQHOVHJXHQWHPRGR
ZL DLDLYDUGLVDLYDUGLVDLPYDUGLVP
GRYH
ZLqLOSXQWHJJLRGLVFULPLQDQWHUHODWLYRDOJUXSSRRPRJHQHRL
DLqO·LQWHUFHWWD
DLMVRQRLSHVLGLVFULPLQDQWLVFHOWLLQPRGRGDUHQGHUHPDVVLPDODVHSDUD]LRQHWUDLJUXSSL
YDUGLVMqODMHVLPDYDULDELOHGLVFULPLQDQWH
8
/DSUREDELOLWjGLDSSDUWHQHQ]DDOJUXSSRRPRJHQHRLqFDOFRODWDQHOVHJXHQWHPRGR
H {Z L − 0D[ [Z Z Z Q ]}
3URE L =
{Z − 0D[ [Z Z Z Q ]}
¦ NQ = H N
GRYHQqLOQXPHURFRPSOHVVLYRGLJUXSSLRPRJHQHL
/HSUREDELOLWjGLDSSDUWHQHQ]DDLFOXVWHUVRQRDUURWRQGDWHDOODTXLQWDFLIUDGHFLPDOH
/·LQGLFDWRUH PLVXUD LO SHVR GHO WRWDOH GHOOH VSHVH VRVWHQXWH GDOOR VWXGLR SURIHVVLRQDOH DO QHWWR GHOOH VSHVH SHU FDQRQL GL ORFD]LRQH
ILQDQ]LDULDHQRQILQDQ]LDULDVXLFRPSHQVLFRPSOHVVLYDPHQWHLQFDVVDWL
— 198 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
•
•
•
Serie generale - n. 301
0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWR
5HQGLPHQWR ORUGR SHU DGGHWWR LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R
DVVLPLODWR
5HVDRUDULDSHUDGGHWWR
/HIRUPXOHGHJOLLQGLFDWRULXWLOL]]DWLVRQRULSRUWDWHQHO6XE$OOHJDWR&
$LILQLGHOODLQGLYLGXD]LRQHGHLYDORULVRJOLDFKHGHILQLVFRQRODFRHUHQ]DHFRQRPLFDSHUFLDVFXQRGHJOLLQGLFDWRUL
XWLOL]]DWLVRQRVWDWHHVDPLQDWHSUHOLPLQDUPHQWHDGHFFH]LRQHGHOO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHOFRVWRSHULO
JRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWLµOHUHODWLYHGLVWULEX]LRQLYHQWLOLFKH GLIIHUHQ]LDWHSHUJUXSSR
RPRJHQHRSHUO·LQGLFDWRUH´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH
RDVVLPLODWRµDQFKHVXOODEDVHGHOO·´(WjSURIHVVLRQDOHµHGHOOD´7HUULWRULDOLWjJHQHUDOHµDOLYHOORSURYLQFLDOHSHU
O·LQGLFDWRUH ´,QFLGHQ]D GHOOH VSHVH VXL FRPSHQVLµ DQFKH VXOOD EDVH GHOOD SUHVHQ]DDVVHQ]D GL IRU]D ODYRUR ,
YDORULGHOOHVRJOLHGHLGLYHUVLLQGLFDWRULVRQRVWDWLLQGLYLGXDWLDGHFFH]LRQHGHOO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHO
FRVWR SHU LO JRGLPHQWR GL EHQL GL WHU]L H GHJOL DPPRUWDPHQWLµ VFHJOLHQGR TXHOOL FKH SRVVRQR ULWHQHUVL
HFRQRPLFDPHQWH SODXVLELOL FRQ ULIHULPHQWR DOOH SUDWLFKH RVVHUYDELOL QHO VHWWRUH H QHO FOXVWHU VSHFLILFR 3HU
O¶LQGLFDWRUH´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWRµVL
q LQROWUH WHQXWR FRQWR GHOO·DUHD WHUULWRULDOH GL DSSDUWHQHQ]D H GHOO·HVSHULHQ]D PDWXUDWD GDO FRQWULEXHQWH
QHOO·HVHUFL]LR GHOOD SURIHVVLRQH 3HU O·LQGLFDWRUH ´,QFLGHQ]D GHOOH VSHVHVXL FRPSHQVLµ VL q LQYHFH WHQXWR FRQWR
SULQFLSDOPHQWHGHOGLYHUVRDPPRQWDUHGHOOHVSHVHVRVWHQXWHGDLFRQWULEXHQWLFKHVLDYYDOJRQRGLGLSHQGHQWLHR
FROODERUDWRULULVSHWWRDFRORURFKHQRQVHQHDYYDOJRQR
/HGLVWULEX]LRQLYHQWLOLFKHGHJOLLQGLFDWRULGLFRHUHQ]DHFRQRPLFDYHQJRQRULSRUWDWHQHO6XE$OOHJDWR'
,YDORULVRJOLDGLFRHUHQ]DDPPLVVLELOLVRQRULSRUWDWLQHO6XE$OOHJDWR(
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVLµVHO·LQGLFDWRUHqFDOFRODELOHHVHLO
VXRYDORUHVLSRVL]LRQDDOO·LQWHUQRGHOO·LQWHUYDOORLQGLYLGXDWRFRPHHFRQRPLFDPHQWHFRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWLµ VH LO YDORUH GHOO·LQGLFDWRUH q PDJJLRUH R XJXDOH D 1HO FDVR LQ FXL O·LQGLFDWRUH ULVXOWL QRQ
FDOFRODELOHFRQLO0DUJLQHQHWWRPDJJLRUHGL]HURRO·LQGLFDWRUHULVXOWLLQGHWHUPLQDWRLOVRJJHWWRYLHQHGHILQLWR
FRHUHQWH1HOFDVRLQFXLO·LQGLFDWRUHULVXOWLQRQFDOFRODELOHFRQLO0DUJLQHQHWWRPLQRUHGL]HURLOVRJJHWWRYLHQH
GHILQLWRQRQFRHUHQWH
/·LQGLFDWRUH PLVXUD LO JUDGR GL FRSHUWXUD GHL SULQFLSDOL FRVWL SHU O·XWLOL]]R GL EHQL VWUXPHQWDOL DOO·DWWLYLWj GHOOR VWXGLR SURIHVVLRQDOH
PHGLDQWH LO ´PDUJLQHµ DO QHWWR GHOOD UHPXQHUD]LRQH ULWHQXWD HFRQRPLFDPHQWH SODXVLELOH GHO WLWRODUH R GHL VRFLDVVRFLDWL GHOOR VWXGLR
SURIHVVLRQDOH
/·LQGLFDWRUH PLVXUD LO FRQWULEXWR GHO WLWRODUH R GHL VRFLDVVRFLDWL GHOOR VWXGLR SURIHVVLRQDOH DOOD FUHD]LRQH GHO ´PDUJLQHµ RYYHUR
UDSSUHVHQWDODFDSDFLWjGLUHPXQHUDUHDOORUGRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLPRELOLHLPPRELOLHGHJOL
DPPRUWDPHQWLODSURSULDDWWLYLWjSURIHVVLRQDOH
7DOH LQGLFDWRUH VL DSSOLFD VROR LQ DVVHQ]D GL ´6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWHµ H ´6SHVH SHU SUHVWD]LRQL GL FROODERUD]LRQH
FRRUGLQDWDHFRQWLQXDWLYDµ
/·LQGLFDWRUHPLVXUDLOYDORUHSURGRWWRGDOORVWXGLRSURIHVVLRQDOHGHVWLQDWRDUHPXQHUDUHROWUHLOWLWRODUHRVRFLDVVRFLDWL DQFKHTXHL
IDWWRUL FKH FRQWULEXLVFRQR D JHQHUDUH YDORUH FRPH LO ODYRUR VRWWR IRUPD GL VWLSHQGL FRQWULEXWL LQGHQQLWj GL ILQH UDSSRUWR HG L EHQL
VWUXPHQWDOLDOO·DWWLYLWjVRWWRIRUPDQHOFDVRGLJRGLPHQWRGLEHQLGLWHU]LGLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQL
LPPRELOLHRDEHQLVWUXPHQWDOLPRELOLHQHOFDVRGLJRGLPHQWRGLEHQLLQSURSULHWjGLDPPRUWDPHQWL
7DOHLQGLFDWRUHVLDSSOLFDVRORLQSUHVHQ]DGL´6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHµHR´6SHVHSHUSUHVWD]LRQLGLFROODERUD]LRQH
FRRUGLQDWDHFRQWLQXDWLYDµ
/·LQGLFDWRUH PLVXUD O·DPPRQWDUH GHL FRPSHQVL SHUFHSLWL GDOOR VWXGLR SURIHVVLRQDOH SHU L VHUYL]L HURJDWL GD FLDVFXQ DGGHWWR QHOO·DUFR
WHPSRUDOHGLXQ·RUD
1HOOD WHUPLQRORJLD VWDWLVWLFD VL GHILQLVFH ´GLVWULEX]LRQH YHQWLOLFDµ O·LQVLHPH GHL YDORUL FKH VXGGLYLGRQR OH RVVHUYD]LRQL RUGLQDWH SHU
YDORULFUHVFHQWLGHOO·LQGLFDWRUHLQJUXSSLGLXJXDOHQXPHURVLWj,OSULPRYHQWLOHqLOYDORUHDOGLVRWWRGHOTXDOHVLSRVL]LRQDLOSULPR
GHOOHRVVHUYD]LRQLLOVHFRQGRYHQWLOHqLOYDORUHDOGLVRWWRGHOTXDOHVLSRVL]LRQDLOSULPRGHOOHRVVHUYD]LRQLHFRVuYLD
(WjSURIHVVLRQDOHqSDULD9DORUHPDVVLPRWUD3HULRGRGLLPSRVWD²9DORUHPDVVLPRWUD$QQRGLLQL]LRDWWLYLWjH$QQRGLLVFUL]LRQHDG
DOELSURIHVVLRQDOLH
,FULWHULHOHFRQFOXVLRQLGHOORVWXGLRVRQRULSRUWDWLQHOO·DSSRVLWR'HFUHWR0LQLVWHULDOH
/D SUHVHQ]D GL IRU]D ODYRUR q FRQGL]LRQDWD DOOD SUHVHQ]D GL 6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R 6SHVH SHU SUHVWD]LRQL GL
FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD R &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H
DUWLVWLFD
8Q LQGLFDWRUH VL GHILQLVFH QRQ FDOFRODELOH TXDQGR QHO UDSSRUWR QXPHUDWRUH GLYLVR GHQRPLQDWRUH LO GHQRPLQDWRUH q SDUL D ]HUR H LO
QXPHUDWRUHqGLYHUVRGD]HUR
8QLQGLFDWRUHVLGHILQLVFHLQGHWHUPLQDWRTXDQGRQHOUDSSRUWRQXPHUDWRUHGLYLVRGHQRPLQDWRUHLOQXPHUDWRUHHLOGHQRPLQDWRUHVRQR
HQWUDPELSDULD]HUR
— 199 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
,OVRJJHWWRULVXOWDFRHUHQWHSHUJOLLQGLFDWRUL´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGL
ODYRURGLSHQGHQWHRDVVLPLODWRµH´5HQGLPHQWRORUGRSHUDGGHWWRLQSUHVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWRµVHLOYDORUHGHJOLLQGLFDWRULqPDJJLRUHRXJXDOHDOODVRJOLDPLQLPDLQGLYLGXDWD1HOFDVR
LQFXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµULVXOWLSDULD]HURLOVRJJHWWRYLHQHGHILQLWR
FRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´5HVDRUDULDSHUDGGHWWRµVHLOYDORUHGHOO·LQGLFDWRUHqPLQRUHRXJXDOH
DOODVRJOLDPDVVLPDLQGLYLGXDWD1HOFDVRLQFXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµ
ULVXOWLSDULD]HURLOVRJJHWWRYLHQHGHILQLWRFRHUHQWH
,Q DSSOLFD]LRQH SHU RJQL VLQJROR VRJJHWWR L YDORUL VRJOLD GL FLDVFXQ LQGLFDWRUH GL FRHUHQ]D HFRQRPLFD VRQR
RWWHQXWLFRPHPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHLYDORULGLULIHULPHQWRLQGLYLGXDWL
SHUJUXSSRRPRJHQHR3HUO·LQGLFDWRUH´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWRµWDOLYDORULVRJOLDYHQJRQRSRQGHUDWLDQFKHVXOODEDVHGHOODSHUFHQWXDOHGLDSSDUWHQHQ]D
DOOHGLYHUVHDUHHWHUULWRULDOL
$1$/,6,'(//$1250$/,7­(&2120,&$
/·DQDOLVLGHOODQRUPDOLWjHFRQRPLFDqPLUDWDDGLQGLYLGXDUHODFRUUHWWH]]DGHLGDWLGLFKLDUDWL$WDOILQHSHURJQL
VLQJRORVRJJHWWRYHQJRQRFDOFRODWLLQGLFDWRULHFRQRPLFRFRQWDELOLGDFRQIURQWDUHFRQLYDORULGLULIHULPHQWRFKH
LQGLYLGXDQROHFRQGL]LRQLGLQRUPDOLWjHFRQRPLFD
*OL LQGLFDWRUL GL QRUPDOLWj HFRQRPLFD VRQR VWDWL SHUWDQWR VHOH]LRQDWL LQ EDVH DOOD ORUR FDSDFLWj GL LQGLYLGXDUH
DQRPDOLHQHOODUHOD]LRQHWUDOHYRFLHVDPLQDWH
/·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFDLQGLYLGXDWRqLOVHJXHQWH
•
,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQHVXLFRPSHQVL
/DIRUPXODGHOO·LQGLFDWRUHXWLOL]]DWRqULSRUWDWDQHO6XE$OOHJDWR&
$LILQLGHOO·LQGLYLGXD]LRQHGHLYDORULGLULIHULPHQWRSHUO·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFDVRQRVWDWHHVDPLQDWH
SUHOLPLQDUPHQWH OH UHODWLYH GLVWULEX]LRQL YHQWLOLFKH GLIIHUHQ]LDWH SHU JUXSSR RPRJHQHR , YDORUL GHOOH VRJOLH
GHOO·LQGLFDWRUH VRQR VWDWL LQGLYLGXDWL VFHJOLHQGR TXHOOL FKH SRVVRQR ULWHQHUVL HFRQRPLFDPHQWH SODXVLELOL FRQ
ULIHULPHQWRDOOHSUDWLFKHRVVHUYDELOLQHOVHWWRUHHQHOFOXVWHUVSHFLILFR
/HGLVWULEX]LRQLYHQWLOLFKHGHOO·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFDYHQJRQRULSRUWDWHQHO6XE$OOHJDWR)
,YDORULVRJOLDGLQRUPDOLWjHFRQRPLFDVRQRULSRUWDWLQHO6XE$OOHJDWR*
,Q DSSOLFD]LRQH SHU RJQL VLQJROR VRJJHWWR L YDORUL VRJOLD GHOO·LQGLFDWRUH GL QRUPDOLWj HFRQRPLFD VRQR RWWHQXWL
FRPH PHGLD SRQGHUDWD FRQ OH UHODWLYH SUREDELOLWj GL DSSDUWHQHQ]D GHL YDORUL GL ULIHULPHQWR LQGLYLGXDWL SHU
JUXSSRRPRJHQHR
/·LQGLFDWRUH SXz GHWHUPLQDUH PDJJLRUL FRPSHQVL FKH VL VRPPDQR DO FRPSHQVR SXQWXDOH H DO FRPSHQVR
PLQLPRVWLPDWLFRQO·DQDOLVLGHOODFRQJUXLWjVXFFHVVLYDPHQWHGHVFULWWD
,1&,'(1=$ '(//( $/75( &20321(17, 1(*$7,9( $/ 1(772 '(, &$121, ', /2&$=,21(
68,&203(16,
3HU RJQL FRQWULEXHQWH VL GHWHUPLQD LO YDORUH PDVVLPR DPPLVVLELOH SHU OD YDULDELOH ´$OWUH FRPSRQHQWL QHJDWLYH
QHWWHµ PROWLSOLFDQGR OD VRJOLD PDVVLPD GL QRUPDOLWj HFRQRPLFD GHOO·LQGLFDWRUH GLYLVD SHU L ´&RPSHQVL GD
FRQJUXLWjµ
1HOFDVRLQFXLLOYDORUHGLFKLDUDWRGHOOH´$OWUHFRPSRQHQWLQHJDWLYHQHWWHµVLSRVL]LRQLDOGLVRSUDGLGHWWRYDORUH
PDVVLPR DPPLVVLELOH OD SDUWH GLVSHVH HFFHGHQWH WDOH YDORUH SRQGHUDWD FRQ LO FRHIILFLHQWH GL GHWHUPLQD]LRQH
GHOO·LQFLGHQ]D GHOOH SUHVWD]LRQL HIIHWWXDWH QRQ LQ UHJLPH GL FRQYHQ]LRQH FRQ LO 6HUYL]LR 6DQLWDULR 1D]LRQDOH
*OLLQGLFDWRULVRQRDUURWRQGDWLDOODVHFRQGDFLIUDGHFLPDOH
/·LQGLFDWRUHYHULILFDODSODXVLELOLWjWUDODYRFH´DOWUHFRPSRQHQWLQHJDWLYHµHGLOWRWDOHGHLFRPSHQVL1HOFDOFRORGHOOHDOWUHFRPSRQHQWL
QHJDWLYHQRQVLWLHQHFRQWRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLLPPRELOLHDEHQLVWUXPHQWDOLPRELOL
/HYDULDELOLQXPHULFKHULIHULWHDGLPSRUWLLQHXURVRQRDUURWRQGDWHDOYDORUHLQWHUR
&RPSHQVLGDFRQJUXLWj &RPSHQVRSXQWXDOHGDDQDOLVLGHOODFRQJUXLWj
3HULOGHWWDJOLRYHGL´1RWDVXOFDOFRORGHOFRHIILFLHQWH&2())35,9µ
— 200 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
FRVWLWXLVFH SDUDPHWUR GL ULIHULPHQWR SHU OD GHWHUPLQD]LRQH GHL PDJJLRUL FRPSHQVL GD QRUPDOLWj HFRQRPLFD
FDOFRODWLPROWLSOLFDQGRWDOHSDUWHHFFHGHQWHSHULOUHODWLYRFRHIILFLHQWH
7DOHFRHIILFLHQWHqVWDWRLQGLYLGXDWRGLVWLQWDPHQWHSHUJUXSSRRPRJHQHRFOXVWHUFRPHUDSSRUWRWUDODVRPPD
GHL FRPSHQVLSXQWXDOL FDOFRODWL DSSOLFDQGR D WXWWL L VRJJHWWL GHO FOXVWHU ODVSHFLILFD IXQ]LRQH GL FRPSHQVR FRQ
O·XWLOL]]RGHOOHVROHYDULDELOLFRQWDELOLGLVSHVDHODVRPPDGHOOHVWHVVHYDULDELOLFRQWDELOLGLVSHVDYHGLWDEHOOD
7DEHOOD&RHIILFLHQWLGLGHWHUPLQD]LRQHGHLPDJJLRULFRPSHQVLGDDSSOLFDUVLDOOHDOWUHFRPSRQHQWL
QHJDWLYHQHWWH
&OXVWHU
&RHIILFLHQWH
,QDSSOLFD]LRQHSHURJQLFRQWULEXHQWHLOFRHIILFLHQWHGLGHWHUPLQD]LRQHGHLPDJJLRULFRPSHQVLqRWWHQXWRFRPH
PHGLD SRQGHUDWD FRQ OH UHODWLYH SUREDELOLWj GL DSSDUWHQHQ]D GHL FRHIILFLHQWL LQGLYLGXDWL SHU RJQL JUXSSR
RPRJHQHR
$1$/,6,'(//$&21*58,7­
3HUFLDVFXQFRQWULEXHQWHYLHQHFDOFRODWRSHURJQLJUXSSRRPRJHQHRLO´FRPSHQVRSXQWXDOHGLFOXVWHUµFRPH
VRPPDGHLSURGRWWLIUDOHYDULDELOLLQGLYLGXDWHDLILQLGHOODGHILQL]LRQHGHOODIXQ]LRQHGLFRPSHQVRHGLUHODWLYL
FRHIILFLHQWL
3HUWHQHUFRQWRGHOODYDULDELOLWjOHJDWDDOODVWLPDGHOFRPSHQVRSXQWXDOHGHOVLQJRORFRQWULEXHQWHYLHQHFDOFRODWR
SHURJQLJUXSSRRPRJHQHRO·LQWHUYDOORGLFRQILGHQ]DDOOLYHOORGHO,OOLPLWHLQIHULRUHGLWDOHLQWHUYDOORGL
FRQILGHQ]DFRVWLWXLVFHLO´FRPSHQVRPLQLPRGLFOXVWHUµ
/DPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHL´FRPSHQVLSXQWXDOLGLFOXVWHUµGHILQLWLSHULO
FRQWULEXHQWHLQUHOD]LRQHDFLDVFXQJUXSSRRPRJHQHRFRVWLWXLVFHLO´FRPSHQVRSXQWXDOHµGHOFRQWULEXHQWH
1HOODWHUPLQRORJLDVWDWLVWLFDSHU´LQWHUYDOORGLFRQILGHQ]DµVLLQWHQGHXQLQWHUYDOORFHQWUDWRVXOFRPSHQVRSXQWXDOH yˆ HGHOLPLWDWRGD
GXH HVWUHPL XQR LQIHULRUH H O·DOWUR VXSHULRUH FKH LQFOXGH FRQ XQ OLYHOOR GL SUREDELOLWj SUHILVVDWR LO YDORUH DWWHVR GHO FRPSHQVR GHO
FRQWULEXHQWH
,O OLYHOOR GL SUREDELOLWj SUHILVVDWR R OLYHOOR GL ILGXFLD YLHQH JHQHUDOPHQWH LQGLFDWR FRQ OD QRWD]LRQH ´ ơµ GRYH ơ UDSSUHVHQWD OD
SUREDELOLWj FKH O·LQWHUYDOOR GL FRQILGHQ]D QRQ FRQWHQJD LO YDORUH DWWHVR GHO FRPSHQVR GHO FRQWULEXHQWH 3HU XQ OLYHOOR GL ILGXFLD SDUL DO
LOYDORUHFRUULVSRQGHQWHGLơqSDULD
,QGLFDQGR FRQ y
ˆ LO ´FRPSHQVR SXQWXDOH GL FOXVWHUµ GHO JHQHULFR FRQWULEXHQWH LO FRUULVSRQGHQWH ´FRPSHQVR PLQLPR GL FOXVWHUµ q
RWWHQXWRDWWUDYHUVRODVHJXHQWHIRUPXOD
yˆ - 3,92 * s
'
xCx GRYH
• C q OD PDWULFH LQYHUVD GHOOD PDWULFH GDWD GDOOH VRPPH GHL TXDGUDWL H GHL SURGRWWL LQFURFLDWL GHOOH YDULDELOL LQGLSHQGHQWL
RSSRUWXQDPHQWHSHVDWHSHUFRQWUROODUHO·HYHQWXDOHSUHVHQ]DGLHWHURVFKHGDVWLFLWj
• s qODUDGLFHTXDGUDWDGHO0HDQ6TXDUH(UURU506(
• x qLOYHWWRUHGHOOHYDULDELOLLQGLSHQGHQWLRVVHUYDWHSHULOJHQHULFRFRQWULEXHQWH
• qLOYDORUHGLULIHULPHQWRDOOLYHOORGLSUREDELOLWjSUHVFHOWRGHOODGLVWULEX]LRQHWGL6WXGHQWFKHDVLQWRWLFDPHQWHDSSURVVLPDXQD
GLVWULEX]LRQHQRUPDOHVWDQGDUGL]]DWD
,YDORULUHODWLYLDOODPDWULFH´ C µHDOYDORUHGHO´506(µGLFLDVFXQFOXVWHUYHQJRQRULSRUWDWLQHOO·$OOHJDWR
— 201 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
/DPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHL´FRPSHQVLPLQLPLGLFOXVWHUµGHILQLWLSHULO
FRQWULEXHQWHLQUHOD]LRQHDFLDVFXQJUXSSRRPRJHQHRFRVWLWXLVFHLO´FRPSHQVRPLQLPRµGHOFRQWULEXHQWH
,Q TXHVWR VWXGLR VL q WHQXWR FRQWR GHOOH DWWLYLWj LQ FRQYHQ]LRQH FRQ LO 6HUYL]LR 6DQLWDULR 1D]LRQDOH GL
FRQVHJXHQ]D LO FRPSHQVR SXQWXDOH H LO FRPSHQVR PLQLPR VRQR FDOFRODWL SRQGHUDQGR WXWWH OH YDULDELOL LQVHULWH
QHOOD IXQ]LRQH GL FRPSHQVR FRQ XQ FRHIILFLHQWH GL GHWHUPLQD]LRQH GHOO·LQFLGHQ]D GHOOH SUHVWD]LRQL HIIHWWXDWH
QRQLQUHJLPHGLFRQYHQ]LRQHFRQLO6HUYL]LR6DQLWDULR1D]LRQDOH
$L FRPSHQVL VXGGHWWL YHQJRQR VRPPDWL L FRPSHQVL GLFKLDUDWL GHULYDQWL GD SUHVWD]LRQL UHVH LQ UHJLPH GL
FRQYHQ]LRQHFRQLO6HUYL]LR6DQLWDULR1D]LRQDOH
3HU DVVLFXUDUH FKH LO FRPSHQVR SXQWXDOH H LO FRPSHQVR PLQLPR FRVu GHWHUPLQDWL QRQ ULVXOWLQR VXSHULRUL DL
ULVSHWWLYLFRPSHQVLSXQWXDOLHFRPSHQVLPLQLPLVWLPDWLSHUO·LQWHUDDWWLYLWjVYROWDVLSURFHGHFRPHGLVHJXLWR
LQGLFDWR
‡,OFRPSHQVRSXQWXDOHqLOPLQRUYDORUHWUDFRPSHQVRSXQWXDOHVWLPDWRSHUO·LQWHUDDWWLYLWjVYROWDHFRPSHQVR
SXQWXDOHFDOFRODWRFRPHVRSUDHVSOLFLWDWR
‡ ,O FRPSHQVRPLQLPR q LO PLQRU YDORUH WUD FRPSHQVR PLQLPRVWLPDWRSHU O·LQWHUD DWWLYLWj VYROWD H FRPSHQVR
PLQLPRFDOFRODWRFRPHVRSUDHVSOLFLWDWR
,OFRPSHQVRSXQWXDOHHGLOFRPSHQVRPLQLPRQRQGHYRQRFRPXQTXHHVVHUHLQIHULRULDLFRPSHQVLGHULYDQWLGD
SUHVWD]LRQLUHVHLQUHJLPHGLFRQYHQ]LRQHFRQLO6HUYL]LR6DQLWDULR1D]LRQDOHGLFKLDUDWLGDOFRQWULEXHQWH
$OFRPSHQVRSXQWXDOHHDOFRPSHQVRPLQLPRVWLPDWLFRQO·DQDOLVLGHOODFRQJUXLWjYHQJRQRDJJLXQWLJOLHYHQWXDOL
PDJJLRULFRPSHQVLGHULYDQWLGDOO·DSSOLFD]LRQHGHOO·DQDOLVLGHOODQRUPDOLWjHFRQRPLFD
1HO6XE$OOHJDWR+YHQJRQRULSRUWDWHOHYDULDELOLHGLULVSHWWLYLFRHIILFLHQWLGHOOH´IXQ]LRQLGLFRPSHQVRµ
3HULOGHWWDJOLRGLWDOHFRHIILFLHQWHYHGL´1RWDVXOFDOFRORGHOFRHIILFLHQWH&2())35,9µ
28
,O FRPSHQVR SXQWXDOH H LO FRPSHQVR PLQLPR VWLPDWL SHU O·LQWHUD DWWLYLWj VYROWD VRQR FDOFRODWL VHQ]D SRQGHUDUH WXWWH OH YDULDELOL GHOOD
IXQ]LRQHGLFRPSHQVRSHULOFRHIILFLHQWHGLGHWHUPLQD]LRQHGHOO·LQFLGHQ]DGHOOHSUHVWD]LRQLHIIHWWXDWHQRQLQUHJLPHGLFRQYHQ]LRQHFRQLO
6HUYL]LR6DQLWDULR1D]LRQDOH
/HYDULDELOLQXPHULFKHULIHULWHDGLPSRUWLLQHXURVRQRDUURWRQGDWHDOYDORUHLQWHUR
— 202 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$7,
68%$//(*$72$²'(6&5,=,21('(,*5833,202*(1(,
,JUXSSLRPRJHQHLVRQRVWDWLLQGLYLGXDWLVXOODEDVHGHLVHJXHQWLIDWWRUL
−
PRGDOLWjRUJDQL]]DWLYD
−
ULOHYDQ]DGHOFRPPLWWHQWHSULQFLSDOH
−
WLSRORJLDGHOO·DWWLYLWj
/DPRGDOLWjRUJDQL]]DWLYDKDFRQVHQWLWRGLGLIIHUHQ]LDUHLVRJJHWWLFKHHVHUFLWDQRO·DWWLYLWjLQIRUPDFROOHWWLYD
FOXVWHUGDFRORURFKHVYROJRQRODSURIHVVLRQHDWLWRORLQGLYLGXDOH
/DULOHYDQ]DGHOFRPPLWWHQWHSULQFLSDOHKDFRQVHQWLWRGLGLVWLQJXHUHWUDFRORURFKHVYROJRQRODSURIHVVLRQHD
WLWROR LQGLYLGXDOH JOL SVLFRORJL FKH RSHUDQRSUHYDOHQWHPHQWH SHU LO FRPPLWWHQWH SULQFLSDOH FOXVWHU GD TXHOOL
FKHRULJLQDQRFRPSHQVLGDXQYHQWDJOLRSLDPSLRGLFOLHQWLFOXVWHUH
/DWLSRORJLDGHOO·DWWLYLWjKDSHUPHVVRGLLGHQWLILFDUHLVRJJHWWLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLSVLFRWHUDSLD
GL JUXSSR FOXVWHU DWWLYLWj GL SUHYHQ]LRQH H GL SURPR]LRQH GHOOD VDOXWH FOXVWHU FRQVXOHQ]D GL SVLFRORJLD
JLXULGLFD H SVLFRSDWRORJLD IRUHQVH FOXVWHU SVLFRORJLD GL FRPXQLWj FOXVWHU SVLFRWHUDSLD LQGLYLGXDOH GL
FRSSLD HR GHOOD IDPLJOLD FOXVWHU FRQVXOHQ]D SVLFRORJLFD SHU LO ODYRUR H OH RUJDQL]]D]LRQL FOXVWHU FRQVXOHQ]DSVLFRORJLFDFOLQLFDFOXVWHUIRUPD]LRQHHGLGDWWLFDFOXVWHU
1HOOH VXFFHVVLYH GHVFUL]LRQL GHL FOXVWHU HPHUVL GDOO·DQDOLVL VDOYR VHJQDOD]LRQH FRQWUDULD O·LQGLFD]LRQH GL YDORUL
QXPHULFLULJXDUGDYDORULPHGL
&/867(5 36,&2/2*, &+( 6, 2&&83$12 35(9$/(17(0(17( ', 36,&27(5$3,$ ', *58332 ( 6,
5,92/*212$'81$3/85$/,7­',&200,77(17,
180(526,7­
,OFOXVWHUqIRUPDWRGDSVLFRORJLFKHRSHUDQRSUHYDOHQWHPHQWHQHOO·DPELWRGHOODSVLFRWHUDSLDGLJUXSSRGHL
FRPSHQVLHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
'D ULOHYDUH FKH O· GHL VRJJHWWL HIIHWWXD DQFKH DWWLYLWj GL SVLFRWHUDSLD LQGLYLGXDOH RWWHQHQGR LO GHL
FRPSHQVL
/DFOLHQWHODqFRVWLWXLWDSLGLIUHTXHQWHGDSULYDWLGHLFRPSHQVLDVVRFLD]LRQLHFRRSHUDWLYHVRFLDOL
GHL FRPSHQVL SHU LO GHL VRJJHWWL VFXROH SXEEOLFKH H SULYDWH SHU LO HQWL HG DPPLQLVWUD]LRQL
SXEEOLFKH SHU LO VWUXWWXUH VDQLWDULH SXEEOLFKH SHU O· 'D HYLGHQ]LDUH LQROWUH FKH LO GHJOLSVLFRORJLGHOFOXVWHUVYROJHO·DWWLYLWjSUHYDOHQWHPHQWHSHUVWUXWWXUHVDQLWDULHSULYDWHGHLFRPSHQVL
6L WUDWWD GL VRJJHWWL FKH HVHUFLWDQR TXDVL HVFOXVLYDPHQWH D WLWROR LQGLYLGXDOH H FKH VROR GL UDGR VL DYYDOJRQR GL
SHUVRQDOHGLSHQGHQWH1HOODPDJJLRUSDUWHGHLFDVLVLULVFRQWUDODGLVSRQLELOLWjGLXQRVWXGLRSURSULRLQFOXGHQGR
LQWDOHDFFH]LRQHO·XVRSURPLVFXRGHOO·DELWD]LRQH
/·DQ]LDQLWjSURIHVVLRQDOHGHJOLSVLFRORJLDSSDUWHQHQWLDOFOXVWHUqSDULDDQQL
6LHYLGHQ]LDLQILQHFKHLOGHLVRJJHWWLGLFKLDUDGLVYROJHUHDQFKHDWWLYLWjGLODYRURGLSHQGHQWHDWHPSRSLHQR
RDWHPSRSDU]LDOH
&/867(5 36,&2/2*, &+( 6, 2&&83$12 35(9$/(17(0(17( ', $77,9,7­ ', 35(9(1=,21( (
35202=,21('(//$6$/87((6,5,92/*212$'81$3/85$/,7­',&200,77(17,
180(526,7­
,O FOXVWHU FRPSUHQGH JOL SVLFRORJL FKH VYROJRQR SUHYDOHQWHPHQWH DWWLYLWj GL SUHYHQ]LRQH H SURPR]LRQH GHOOD
VDOXWHGHLFRPSHQVLHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
— 203 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
'DULOHYDUHFKHROWUHDOO·DWWLYLWjSULQFLSDOPHQWHVYROWDJOLSVLFRORJLGHOFOXVWHUHIIHWWXDQRFRQXQDFHUWDIUHTXHQ]D
DQFKH DOWUH DWWLYLWj TXDOL OD SVLFRWHUDSLD LQGLYLGXDOH IRQWH GHO GHL FRPSHQVL SHU LO GHL VRJJHWWL OD
FRQVXOHQ]DSVLFRORJLFDFOLQLFDSHULOHO·DWWLYLWjGLIRUPD]LRQHHGLGDWWLFDSHULO
/DFOLHQWHODFKHVLULYROJHDLSURIHVVLRQLVWLGHOFOXVWHUqSLXWWRVWRHWHURJHQHDHGqIRUPDWDGDSULYDWLGHL
FRPSHQVLDVVRFLD]LRQLHFRRSHUDWLYHVRFLDOLVFXROHSXEEOLFKHHSULYDWHGHLFRPSHQVLSHULOGHL
VRJJHWWL HQWL HG DPPLQLVWUD]LRQL SXEEOLFKH SHU LO VWUXWWXUH VDQLWDULH SXEEOLFKH SHU LO VWUXWWXUHVDQLWDULHSULYDWHSHULO
6LWUDWWDGLVRJJHWWLFKHHVHUFLWDQRTXDVLHVFOXVLYDPHQWHDWLWRORLQGLYLGXDOHHFKHQHOORVYROJLPHQWRGHOO·DWWLYLWjLQ
JHQHUHQRQVLDYYDOJRQRGLSHUVRQDOHGLSHQGHQWH1HOODPDJJLRUSDUWHGHLFDVLVLULVFRQWUDODGLVSRQLELOLWjGLXQR
VWXGLRSURSULRLQFOXGHQGRLQWDOHDFFH]LRQHO·XVRSURPLVFXRGHOO·DELWD]LRQH
/·DQ]LDQLWjSURIHVVLRQDOHGHJOLSVLFRORJLDSSDUWHQHQWLDOFOXVWHUqSDULDDQQL
&/867(5 36,&2/2*, &+( 692/*212 /·$77,9,7­ 35(9$/(17(0(17( 3(5 ,/ &200,77(17(
35,1&,3$/(
180(526,7­
,O FOXVWHU UDJJUXSSD JOL SVLFRORJL FKH VYROJRQR O·DWWLYLWj SURIHVVLRQDOH SUHYDOHQWHPHQWH QHL FRQIURQWL GHO
FRPPLWWHQWHSULQFLSDOHIRQWHGHOO·GHLFRPSHQVL
'D VHJQDODUH D WDOH SURSRVLWR FKH OD FRPPLWWHQ]D GL ULIHULPHQWR q UDSSUHVHQWDWDVRSUDWWXWWR GD DVVRFLD]LRQL H
FRRSHUDWLYH VRFLDOL GHL FRPSHQVL SHU LO GHL VRJJHWWL VWUXWWXUH VDQLWDULH SULYDWH SHU LO VWUXWWXUH VDQLWDULH SXEEOLFKH SHU LO HQWL HG DPPLQLVWUD]LRQL SXEEOLFKH SHU LO ´DOWUH
LPSUHVHµSHULO
3HUTXDQWRDWWLHQHODWLSRORJLDGLDWWLYLWjVYROWDVLRVVHUYDSULQFLSDOPHQWHODFRQVXOHQ]DSVLFRORJLFDFOLQLFDFKHq
IRQWH GHO GHL FRPSHQVL SHU LO GHL VRJJHWWL VHJXLWD GDOOD FRQVXOHQ]D SVLFRORJLFD SHU LO ODYRUR H OH
RUJDQL]]D]LRQLGHLFRPSHQVLSHUO·GHJOLSVLFRORJLHGDOODSVLFRORJLDGLFRPXQLWjSHULO'D
ULOHYDUHLQROWUHFKHLOGHLVRJJHWWLRWWLHQHLOGHLFRPSHQVLGDOO·DWWLYLWjGLSVLFRWHUDSLDLQGLYLGXDOH
6L WUDWWD GL VRJJHWWL FKH HVHUFLWDQR TXDVL HVFOXVLYDPHQWH D WLWROR LQGLYLGXDOH H FKH VROR GL UDGR VL DYYDOJRQR GL
SHUVRQDOHGLSHQGHQWH/DPDJJLRUSDUWHGHJOLDSSDUWHQHQWLDOFOXVWHUGLFKLDUDGLVYROJHUHODSURSULDDWWLYLWj
HVFOXVLYDPHQWHSUHVVRDOWULVWXGLHRVWUXWWXUH
/·DQ]LDQLWjSURIHVVLRQDOHGHJOLSVLFRORJLDSSDUWHQHQWLDOFOXVWHUqSDULDDQQL
6LHYLGHQ]LDLQILQHFKHLOGHLVRJJHWWLGLFKLDUDGLVYROJHUHDQFKHDWWLYLWjGLODYRURGLSHQGHQWHDWHPSRSLHQR
RDWHPSRSDU]LDOH
&/867(5 36,&2/2*, &+( 6, 2&&83$12 35(9$/(17(0(17( ', &2168/(1=$ ', 36,&2/2*,$
*,85,',&$ ( 36,&23$72/2*,$ )25(16( ( 6, 5,92/*212 $' 81$ 3/85$/,7­ ',
&200,77(17,
180(526,7­
*OLSVLFRORJLDSSDUWHQHQWLDOFOXVWHUFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWLRWWHQJRQRODTXRWDSULQFLSDOH
GHLFRPSHQVLGDOO·DWWLYLWjGLFRQVXOHQ]DGLSVLFRORJLDJLXULGLFDHSVLFRSDWRORJLDIRUHQVHGHLFRPSHQVL
'DULOHYDUHFKHROWUHDOO·DWWLYLWjSULQFLSDOPHQWHVYROWDJOLSVLFRORJLGHOFOXVWHUHIIHWWXDQRFRQXQDFHUWDIUHTXHQ]D
DQFKH DOWUH DWWLYLWj TXDOL OD SVLFRWHUDSLD LQGLYLGXDOH IRQWH GHO GHL FRPSHQVL SHU LO GHL VRJJHWWL OD
FRQVXOHQ]DSVLFRORJLFDFOLQLFDSHULOHO·DWWLYLWjGLIRUPD]LRQHHGLGDWWLFDSHULO
/DFOLHQWHODqFRVWLWXLWDVRSUDWWXWWRGDSULYDWLGDLTXDOLLFRPSRQHQWLLOFOXVWHURWWHQJRQRLOGHLFRPSHQVLH
GDHQWLHGDPPLQLVWUD]LRQLSXEEOLFKHGHLFRPSHQVLSHULOGHLVRJJHWWL6LULOHYDDOWUHVuFKHLOGHJOL
SVLFRORJLGHOFOXVWHUGHULYDLOGHLSURSULFRPSHQVLGDDVVRFLD]LRQLHFRRSHUDWLYHVRFLDOL
6L WUDWWD GL VRJJHWWL FKH HVHUFLWDQR TXDVL HVFOXVLYDPHQWH D WLWROR LQGLYLGXDOH H FKH VROR GL UDGR VL DYYDOJRQR GL
SHUVRQDOHGLSHQGHQWH1HOODPDJJLRUSDUWHGHLFDVLVLULVFRQWUDODGLVSRQLELOLWjGLXQRVWXGLRSURSULRLQFOXGHQGR
LQWDOHDFFH]LRQHO·XVRSURPLVFXRGHOO·DELWD]LRQH
/·DQ]LDQLWjSURIHVVLRQDOHGHJOLSVLFRORJLDSSDUWHQHQWLDOFOXVWHUqSDULDDQQL
— 204 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&/867(5 36,&2/2*, &+( 6, 2&&83$12 35(9$/(17(0(17( ', 36,&2/2*,$ ', &2081,7­ ( 6,
5,92/*212$'81$3/85$/,7­',&200,77(17,
180(526,7­
,O FOXVWHU FRPSUHQGH JOL SVLFRORJL FKH VL RFFXSDQR SUHYDOHQWHPHQWH GL SVLFRORJLD GL FRPXQLWj GHL
FRPSHQVLHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
'DULOHYDUHFKHROWUHDOO·DWWLYLWjSULQFLSDOPHQWHVYROWDJOLSVLFRORJLGHOFOXVWHUHIIHWWXDQRFRQXQDFHUWDIUHTXHQ]D
DQFKHDOWUHDWWLYLWjTXDOLODSVLFRWHUDSLDLQGLYLGXDOHIRQWHGHOGHLFRPSHQVLSHULOGHLVRJJHWWLO·DWWLYLWj
GLIRUPD]LRQHHGLGDWWLFDSHULOHODFRQVXOHQ]DSVLFRORJLFDFOLQLFDSHULO
/D FOLHQWHOD q FRVWLWXLWDVRSUDWWXWWR GD DVVRFLD]LRQL H FRRSHUDWLYHVRFLDOL GHLFRPSHQVL SULYDWL GHL
FRPSHQVL HQWL HG DPPLQLVWUD]LRQL SXEEOLFKH GHL FRPSHQVL SHU LO GHL VRJJHWWL VFXROH SXEEOLFKH H
SULYDWHSHULOVWUXWWXUHVDQLWDULHSXEEOLFKHSHULO'DHYLGHQ]LDUHLQROWUHFKHLOGHJOL
SVLFRORJLGHOFOXVWHUVYROJHO·DWWLYLWjSUHYDOHQWHPHQWHSHUVWUXWWXUHVDQLWDULHSULYDWHGHLFRPSHQVL
6LWUDWWDGLVRJJHWWLFKHHVHUFLWDQRTXDVLHVFOXVLYDPHQWHDWLWRORLQGLYLGXDOHHFKHQHOORVYROJLPHQWRGHOO·DWWLYLWjLQ
JHQHUH QRQ VL DYYDOJRQR GL SHUVRQDOH GLSHQGHQWH /D GLVSRQLELOLWj GL XQR VWXGLR SURSULR LQFOXGHQGR LQ WDOH
DFFH]LRQHO·XVRSURPLVFXRGHOO·DELWD]LRQHVLULVFRQWUDQHOGHLFDVL
/·DQ]LDQLWjSURIHVVLRQDOHGHJOLSVLFRORJLDSSDUWHQHQWLDOFOXVWHUqSDULDDQQL
&/867(536,&2/2*,&+((6(5&,7$12/$352)(66,21(,1)250$&2//(77,9$
180(526,7­
,OFOXVWHUFRPSUHQGHJOLSVLFRORJLFKHHVHUFLWDQRODSURIHVVLRQHLQIRUPDFROOHWWLYDLQSDUWLFRODUHOHDVVRFLD]LRQL
SURIHVVLRQDOLVRQRFRVWLWXLWHLQJHQHUHGDDVVRFLDWL
/HSUHVWD]LRQLSURIHVVLRQDOLYHQJRQRHIIHWWXDWHFRQPDJJLRUIUHTXHQ]DQHOO·DPELWRGHOODSVLFRWHUDSLDLQGLYLGXDOH
GHL FRPSHQVL SHU LO GHL VRJJHWWL GHOOD FRQVXOHQ]D SVLFRORJLFD FOLQLFD SHU LO GHOOD
IRUPD]LRQHHGLGDWWLFDSHULO'DVHJQDODUHLQROWUHFKHLOGHLVRJJHWWLGHULYDLOGHLFRPSHQVL
GDOO·DWWLYLWjGLFRQVXOHQ]DSVLFRORJLFDSHULOODYRURHOHRUJDQL]]D]LRQL
*OL SVLFRORJL GHO FOXVWHU VL ULYROJRQR SUHYDOHQWHPHQWH D SULYDWL GHL FRPSHQVL WXWWDYLD LQ WDOXQL FDVL
O·DWWLYLWjSURIHVVLRQDOHqVYROWDDQFKHQHLFRQIURQWLGLDVVRFLD]LRQLHFRRSHUDWLYHVRFLDOLGHLFRPSHQVLSHULO
GHLVRJJHWWLVFXROHSXEEOLFKHHSULYDWHSHULOHQWLHGDPPLQLVWUD]LRQLSXEEOLFKHSHULO
VWUXWWXUH VDQLWDULH SXEEOLFKH SHU O· 6L HYLGHQ]LD LQROWUH QHO FOXVWHU GHL FDVL OD PDJJLRUH
FRQFHQWUD]LRQHGLFRPSHQVLSHUFHSLWLGDVWXGLGLSVLFRORJLSVLFRWHUDSHXWL
6LWUDWWDGLDVVRFLD]LRQLWUDSURIHVVLRQLVWLFKHVLDYYDOJRQRGLSHUVRQDOHGLSHQGHQWHQHOGHLFDVL
&/867(5 36,&2/2*,&+(,135(9$/(1=$6,2&&83$12',36,&27(5$3,$,1',9,'8$/(',&233,$
(2'(//$)$0,*/,$(6,5,92/*212$'81$3/85$/,7­',&200,77(17,
180(526,7­
,OFOXVWHUFRPSUHQGHJOLSVLFRORJLFKHLQSUHYDOHQ]DSUHVWDQRO·DWWLYLWjGLSVLFRWHUDSLDLQGLYLGXDOHGLFRSSLDHR
GHOODIDPLJOLDRWWHQHQGRO·GHLFRPSHQVLHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
,Q FRQVLGHUD]LRQH GHOO·DWWLYLWj SUHYDOHQWHPHQWH HVHUFLWDWD OD FOLHQWHOD GL ULIHULPHQWR q UDSSUHVHQWDWD GD SULYDWL
GHLFRPSHQVL
6L WUDWWD GL VRJJHWWL FKH HVHUFLWDQR TXDVL HVFOXVLYDPHQWH D WLWROR LQGLYLGXDOH H FKH VROR GL UDGR VL DYYDOJRQR GL
SHUVRQDOHGLSHQGHQWH1HOODPDJJLRUSDUWHGHLFDVLVLULVFRQWUDODGLVSRQLELOLWjGLXQRVWXGLRSURSULRLQFOXGHQGR
LQWDOHDFFH]LRQHO·XVRSURPLVFXRGHOO·DELWD]LRQH
/·DQ]LDQLWjSURIHVVLRQDOHGHJOLSVLFRORJLDSSDUWHQHQWLDOFOXVWHUqSDULDDQQLODSLDOWDRVVHUYDWDQHOVHWWRUH
6LHYLGHQ]LDLQILQHFKHLOGHLVRJJHWWLGLFKLDUDGLVYROJHUHDQFKHDWWLYLWjGLODYRURGLSHQGHQWHDWHPSRSLHQR
RDWHPSRSDU]LDOHHGLOGLHVVHUHSHQVLRQDWR
— 205 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&/867(5 36,&2/2*,&+(6,2&&83$1235(9$/(17(0(17(',&2168/(1=$36,&2/2*,&$3(5,/
/$9252(/(25*$1,==$=,21,(6,5,92/*212$'81$3/85$/,7­',&200,77(17,
180(526,7­
*OLSVLFRORJLDSSDUWHQHQWLDOFOXVWHUFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWLRWWHQJRQRODTXRWDSULQFLSDOH
GHL FRPSHQVL GDOO·DWWLYLWj GL FRQVXOHQ]D SVLFRORJLFD SHU LO ODYRUR H OH RUJDQL]]D]LRQL IRQWH GHO GHL
FRPSHQVL
'DULOHYDUHFKHROWUHDOO·DWWLYLWjSULQFLSDOPHQWHVYROWDJOLSVLFRORJLGHOFOXVWHUHIIHWWXDQRFRQXQDFHUWDIUHTXHQ]D
DQFKHDOWUHDWWLYLWjTXDOLODSVLFRWHUDSLDLQGLYLGXDOHIRQWHGHOGHLFRPSHQVLSHULOGHLVRJJHWWLO·DWWLYLWj
GLIRUPD]LRQHHGLGDWWLFDSHULOHODFRQVXOHQ]DSVLFRORJLFDFOLQLFDSHULO
,Q OLQHD FRQ O·DPELWR SUHYDOHQWH GL DWWLYLWj VL RVVHUYD FKH OD FOLHQWHOD GL ULIHULPHQWR SHU LO GHL VRJJHWWL q
UDSSUHVHQWDWDGD´DOWUHLPSUHVHµIRQWHGHOGHLFRPSHQVLSHULOGDVWUXWWXUHVDQLWDULHSULYDWHH
SHULOGDVRFLHWjHGHQWLVSRUWLYL/·DWWLYLWjSURIHVVLRQDOHqLQROWUHVYROWDQHLFRQIURQWLGLSULYDWLIRQWH
GH GHL FRPSHQVL SHU LO GHL VRJJHWWL DVVRFLD]LRQL H FRRSHUDWLYH VRFLDOL SHU LO HQWL HG
DPPLQLVWUD]LRQLSXEEOLFKHSHULOVFXROHSXEEOLFKHHSULYDWHSHULO
6L WUDWWD GL VRJJHWWL FKH HVHUFLWDQR TXDVL HVFOXVLYDPHQWH D WLWROR LQGLYLGXDOH H FKH VROR GL UDGR VL DYYDOJRQR GL
SHUVRQDOHGLSHQGHQWH1HOODPDJJLRUSDUWHGHLFDVLVLULVFRQWUDODGLVSRQLELOLWjGLXQRVWXGLRSURSULRLQFOXGHQGR
LQWDOHDFFH]LRQHO·XVRSURPLVFXRGHOO·DELWD]LRQH
/·DQ]LDQLWjSURIHVVLRQDOHGHJOLSVLFRORJLDSSDUWHQHQWLDOFOXVWHUqSDULDDQQL
&/867(536,&2/2*,&+(6,2&&83$1235(9$/(17(0(17(',&2168/(1=$36,&2/2*,&$&/,1,&$
(6,5,92/*212$'81$3/85$/,7­',&200,77(17,
180(526,7­
,OFOXVWHUFRPSUHQGHJOLSVLFRORJLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLFRQVXOHQ]DSVLFRORJLFDFOLQLFDGHL
FRPSHQVLSHUXQDSOXUDOLWjGLFRPPLWWHQWL
*OL SVLFRORJL GHO FOXVWHU VL ULYROJRQR SUHYDOHQWHPHQWH D SULYDWL GHL FRPSHQVL WXWWDYLD LQ WDOXQL FDVL
O·DWWLYLWjSURIHVVLRQDOHqVYROWDDQFKHQHLFRQIURQWLGLDVVRFLD]LRQLHFRRSHUDWLYHVRFLDOLGHLFRPSHQVLSHULO
GHLVRJJHWWLVFXROHSXEEOLFKHHSULYDWHSHULOHQWLHGDPPLQLVWUD]LRQLSXEEOLFKHSHULO
6L RVVHUYD LQROWUH FKH LO GHL VRJJHWWL SHUFHSLVFH XQD TXRWD ULOHYDQWH GHL SURSUL FRPSHQVL GD
VWUXWWXUHVDQLWDULHSULYDWHHRSXEEOLFKH
6L WUDWWD GL VRJJHWWL FKH HVHUFLWDQR TXDVL HVFOXVLYDPHQWH D WLWROR LQGLYLGXDOH H FKH VROR GL UDGR VL DYYDOJRQR GL
SHUVRQDOH GLSHQGHQWH /D GLVSRQLELOLWj GL XQR VWXGLR SURSULR LQFOXGHQGR LQ WDOH DFFH]LRQH O·XVR SURPLVFXR
GHOO·DELWD]LRQHVLULVFRQWUDQHOGHLFDVL
/·DQ]LDQLWjSURIHVVLRQDOHGHJOLSVLFRORJLDSSDUWHQHQWLDOFOXVWHUqSDULDDQQL
&/867(5 36,&2/2*, &+( 6, 2&&83$12 35(9$/(17(0(17( ', )250$=,21( ( ','$77,&$ ( 6,
5,92/*212$'81$3/85$/,7­',&200,77(17,
180(526,7­
,OFOXVWHUUDJJUXSSDJOLSVLFRORJLFKHVLGHGLFDQRSUHYDOHQWHPHQWHDOO·DWWLYLWjGLIRUPD]LRQHHGLGDWWLFDGHL
FRPSHQVLHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
'DULOHYDUHFKHROWUHDOO·DWWLYLWjSULQFLSDOPHQWHVYROWDJOLSVLFRORJLGHOFOXVWHUHIIHWWXDQRFRQXQDFHUWDIUHTXHQ]D
DQFKHO·DWWLYLWjGLSVLFRWHUDSLDLQGLYLGXDOHIRQWHGHOGHLFRPSHQVLSHULOGHLVRJJHWWLGLFRQVXOHQ]D
SVLFRORJLFDFOLQLFDSHULOHGLFRQVXOHQ]DSVLFRORJLFDSHULOODYRURHOHRUJDQL]]D]LRQLSHUO·
, SURIHVVLRQLVWL GHO FOXVWHU VL ULYROJRQR DG XQD FOLHQWHOD SLXWWRVWR HWHURJHQHD UDSSUHVHQWDWD SHUORSL GD SULYDWL
GHL FRPSHQVL VFXROH SXEEOLFKH H SULYDWH GHL FRPSHQVL SHU LO GHL VRJJHWWL DVVRFLD]LRQL H
FRRSHUDWLYHVRFLDOLSHULOHQWLHGDPPLQLVWUD]LRQLSXEEOLFKHSHULO'DULOHYDUHFKHLO
GHLVRJJHWWLSHUFHSLVFHODTXRWDSULQFLSDOHGHLSURSULFRPSHQVLGD´DOWUHLPSUHVHµ
6L WUDWWD GL VRJJHWWL FKH HVHUFLWDQR TXDVL HVFOXVLYDPHQWH D WLWROR LQGLYLGXDOH H FKH VROR GL UDGR VL DYYDOJRQR GL
SHUVRQDOHGLSHQGHQWH1HOODPDJJLRUSDUWHGHLFDVLVLULVFRQWUDODGLVSRQLELOLWjGLXQRVWXGLRSURSULRLQFOXGHQGR
LQWDOHDFFH]LRQHO·XVRSURPLVFXRGHOO·DELWD]LRQH
/·DQ]LDQLWjSURIHVVLRQDOHGHJOLSVLFRORJLDSSDUWHQHQWLDOFOXVWHUqSDULDDQQL
— 206 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
6LULOHYDLQILQHFKHLOGHLVRJJHWWLGLFKLDUDGLVYROJHUHDQFKHDWWLYLWjGLODYRURGLSHQGHQWHDWHPSRSLHQRRD
WHPSRSDU]LDOHHGLODOWUHDWWLYLWjSURIHVVLRQDOLHRG·LPSUHVD
— 207 —
— 208 —
)RUPD]LRQHHGLGDWWLFDDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
&RQVXOHQ]DSVLFRORJLFDSHULOODYRURHOHRUJDQL]]D]LRQLDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
$WWLYLWjGLSUHYHQ]LRQHHGLSURPR]LRQHGHOODVDOXWHDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
3VLFRORJLDGLFRPXQLWjDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
&RQVXOHQ]DGLSVLFRORJLDJLXULGLFDHSVLFRSDWRORJLDIRUHQVHDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
3VLFRWHUDSLDLQGLYLGXDOHGHOODIDPLJOLDHGLFRSSLDDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
3VLFRWHUDSLDGLJUXSSRDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
1XPHURGLVRFLQRUPDOL]]DWR
)RUPD]LRQHHGLGDWWLFDDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
&RQVXOHQ]DSVLFRORJLFDSHULOODYRURHOHRUJDQL]]D]LRQLDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
$WWLYLWjGLSUHYHQ]LRQHHGLSURPR]LRQHGHOODVDOXWHDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
3VLFRORJLDGLFRPXQLWjDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
&RQVXOHQ]DGLSVLFRORJLDJLXULGLFDHSVLFRSDWRORJLDIRUHQVHDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
3VLFRWHUDSLDLQGLYLGXDOHGHOODIDPLJOLDHGLFRSSLDDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
3VLFRWHUDSLDGLJUXSSRDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
1XPHURGLVRFLQRUPDOL]]DWR
&/867(5
&RQVXOHQ]DSVLFRORJLFDFOLQLFDDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
)ODJDVVRFLD]LRQHWUDSURIHVVLRQLVWL
1XPHURVLWjGHLFRPPLWWHQWL3HUFHQWXDOHGHLFRPSHQVLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOHLQGLFDUH
VRORVHVXSHULRUHD
9$5,$%,/(
&RQVXOHQ]DSVLFRORJLFDFOLQLFDDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL
)ODJDVVRFLD]LRQHWUDSURIHVVLRQLVWL
,QWHUFHWWD
&/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5
&/867(5
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
&/867(5
9$5,$%,/(
1XPHURVLWjGHLFRPPLWWHQWL3HUFHQWXDOHGHLFRPSHQVLSURYHQLHQWLGDOFRPPLWWHQWH
SULQFLSDOHLQGLFDUHVRORVHVXSHULRUHD
,QWHUFHWWD
68%$//(*$72%3(6,'(//()81=,21,',6&5,0,1$17,
30-12-2014
Serie generale - n. 301
DOWULPHQWLYDOH/DYDULDELOHDVVXPHYDORUHSDULD]HURQHOFDVRGLSURIHVVLRQLVWDFKHRSHUDLQIRUPDLQGLYLGXDOH
&RQVXOHQ]DSVLFRORJLFDFOLQLFDDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL 7LSRORJLDGHOO
DWWLYLWj&RQVXOHQ]DSVLFRORJLFDFOLQLFD3HUFHQWXDOHVXLFRPSHQVLVH1XPHURVLWj
GHLFRPPLWWHQWL3HUFHQWXDOHGHLFRPSHQVLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOHLQGLFDUHVRORVHVXSHULRUHD DOWULPHQWLqSDULD
)RUPD]LRQHHGLGDWWLFDDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL 7LSRORJLDGHOO
DWWLYLWj)RUPD]LRQHHGLGDWWLFD3HUFHQWXDOHVXLFRPSHQVLVH1XPHURVLWjGHLFRPPLWWHQWL
3HUFHQWXDOHGHLFRPSHQVLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOHLQGLFDUHVRORVHVXSHULRUHD DOWULPHQWLqSDULD
&RQVXOHQ]D SVLFRORJLFD SHU LO ODYRUR H OH RUJDQL]]D]LRQL DWWLYLWj ULYROWD DG XQD SOXUDOLWj GL FRPPLWWHQWL 7LSRORJLD GHOO
DWWLYLWj &RQVXOHQ]D SVLFRORJLFD SHU LO ODYRUR H OH
RUJDQL]]D]LRQL 3HUFHQWXDOH VXL FRPSHQVL VH 1XPHURVLWj GHL FRPPLWWHQWL 3HUFHQWXDOH GHL FRPSHQVL SURYHQLHQWL GDO FRPPLWWHQWH SULQFLSDOH LQGLFDUH VROR VH VXSHULRUH D DOWULPHQWLqSDULD
$WWLYLWjGLSUHYHQ]LRQHHGLSURPR]LRQHGHOODVDOXWHDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL 7LSRORJLDGHOO
DWWLYLWj$WWLYLWjGLSUHYHQ]LRQHHGLSURPR]LRQHGHOODVDOXWH
3HUFHQWXDOHVXLFRPSHQVLVH1XPHURVLWjGHLFRPPLWWHQWL3HUFHQWXDOHGHLFRPSHQVLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOHLQGLFDUHVRORVHVXSHULRUHD DOWULPHQWLqSDULD
3VLFRORJLDGLFRPXQLWjDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL 7LSRORJLDGHOO
DWWLYLWj3VLFRORJLDGLFRPXQLWj3HUFHQWXDOHVXLFRPSHQVLVH1XPHURVLWjGHLFRPPLWWHQWL
3HUFHQWXDOHGHLFRPSHQVLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOHLQGLFDUHVRORVHVXSHULRUHD DOWULPHQWLqSDULD
&RQVXOHQ]D GL SVLFRORJLD JLXULGLFD H SVLFRSDWRORJLD IRUHQVH DWWLYLWj ULYROWD DG XQD SOXUDOLWj GL FRPPLWWHQWL 7LSRORJLD GHOO
DWWLYLWj &RQVXOHQ]D GL SVLFRORJLD JLXULGLFD H
SVLFRSDWRORJLDIRUHQVH3HUFHQWXDOHVXLFRPSHQVLVH1XPHURVLWjGHLFRPPLWWHQWL3HUFHQWXDOHGHLFRPSHQVLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOHLQGLFDUHVRORVHVXSHULRUHD DOWULPHQWLqSDULD
3VLFRWHUDSLDLQGLYLGXDOHGHOODIDPLJOLDHGLFRSSLDDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL 7LSRORJLDGHOO
DWWLYLWj3VLFRWHUDSLDLQGLYLGXDOH3VLFRWHUDSLDGHOODIDPLJOLD
3VLFRWHUDSLDGLFRSSLD3HUFHQWXDOHVXLFRPSHQVLVH1XPHURVLWjGHLFRPPLWWHQWL3HUFHQWXDOHGHLFRPSHQVLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOHLQGLFDUHVRORVHVXSHULRUHD
DOWULPHQWLqSDULD
3VLFRWHUDSLDGLJUXSSRDWWLYLWjULYROWDDGXQDSOXUDOLWjGLFRPPLWWHQWL 7LSRORJLDGHOO
DWWLYLWj3VLFRWHUDSLDGLJUXSSR3HUFHQWXDOHVXLFRPSHQVLVH1XPHURVLWjGHLFRPPLWWHQWL
3HUFHQWXDOHGHLFRPSHQVLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOHLQGLFDUHVRORVHVXSHULRUHD DOWULPHQWLqSDULD
1XPHURGLVRFLQRUPDOL]]DWR 1XPHURGL6RFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQH´)DWWRUHFRUUHWWLYRDVVRFLD]LRQLµ3HULOFDOFRORGHO´)DWWRUHFRUUHWWLYR
DVVRFLD]LRQLµYHGLOD´1RWDDOODYDULDELOHGLUHJUHVVLRQH2UHGHGLFDWHDOO·DWWLYLWjµ/DYDULDELOHDVVXPHYDORUHSDULD]HURQHOFDVRGLSURIHVVLRQLVWDFKHRSHUDLQIRUPDLQGLYLGXDOH
)ODJDVVRFLD]LRQHWUDSURIHVVLRQLVWL VH0RGDOLWjRUJDQL]]DWLYD²$WWLYLWjHVHUFLWDWDLQIRUPDDVVRFLDWLYD$VVRFLD]LRQHWUDSURIHVVLRQLVWL PRQRGLVFLSOLQDUH LQWHUGLVFLSOLQDUH 'RYH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 209 —
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72&²)2508/('(*/,,1',&$725,
'L VHJXLWR VRQR ULSRUWDWH OH IRUPXOH GHJOL LQGLFDWRUL HFRQRPLFRFRQWDELOL XWLOL]]DWL LQ FRVWUX]LRQH HR
DSSOLFD]LRQHGHOORVWXGLRGLVHWWRUH
•
•
•
•
•
•
,QFLGHQ]D GHOOH DOWUH FRPSRQHQWL QHJDWLYH DO QHWWR GHL FDQRQL GL ORFD]LRQH VXL FRPSHQVL $OWUH
FRPSRQHQWLQHJDWLYHQHWWH&RPSHQVLGLFKLDUDWL
,QFLGHQ]D GHOOH VSHVH VXL FRPSHQVL 6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH 6SHVH SHU
SUHVWD]LRQL GL FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL
GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H DUWLVWLFD &RQVXPL $OWUH VSHVH $OWUH FRPSRQHQWL
QHJDWLYHQHWWH&RPSHQVLGLFKLDUDWL
,QGLFH GL FRSHUWXUD GHO FRVWR SHU LO JRGLPHQWR GL EHQL GL WHU]L H GHJOL DPPRUWDPHQWL 0DUJLQH
QHWWR&DQRQL GL ORFD]LRQH ILQDQ]LDULD H QRQ ILQDQ]LDULD UHODWLYL D EHQL LPPRELOL &DQRQL GL ORFD]LRQH
ILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLVWUXPHQWDOLPRELOL$PPRUWDPHQWL
0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWR 0DUJLQH3URIHVVLRQLVWLWLWRODULGHOORVWXGLR
5HQGLPHQWR ORUGR SHU DGGHWWR LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R
DVVLPLODWR 9DORUHFUHDWRGDOORVWXGLRSURIHVVLRQDOH$GGHWWL
5HVD RUDULDSHU DGGHWWR &RPSHQVL GLFKLDUDWL ² 6SHVH SHU SUHVWD]LRQL GL FROODERUD]LRQH FRRUGLQDWDH
FRQWLQXDWLYD ² &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H
DUWLVWLFD1XPHURDGGHWWL
1HOODVRODIDVHGLFRVWUX]LRQHL&RPSHQVLGLFKLDUDWLLQFOXGRQRDQFKHO·$GHJXDPHQWRGDVWXGLGLVHWWRUH
,QIDVHGLDSSOLFD]LRQHGHOO·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFD´,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQH
VXLFRPSHQVLµYHQJRQRXWLOL]]DWLL
&RPSHQVLGDFRQJUXLWj &RPSHQVRSXQWXDOHGDDQDOLVLGHOODFRQJUXLWj
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHLSURIHVVLRQLVWLWLWRODULGHOORVWXGLR
3URIHVVLRQLVWLWLWRODULGHOORVWXGLR 7LWRODUH
SURIHVVLRQLVWDFKHRSHUDLQIRUPD
LQGLYLGXDOH
3URIHVVLRQLVWLWLWRODULGHOORVWXGLR 1XPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQH
HVHUFL]LRFROOHWWLYRGHOO·DWWLYLWj
SURIHVVLRQDOH
,OWLWRODUHqSDULD
,OQXPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHqSDULDOODUHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
,OWLWRODUHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
6HLSURIHVVLRQLVWLWLWRODULGHOORVWXGLRVRQRLQIHULRUL D´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVRDOORUDL
SURIHVVLRQLVWLWLWRODULGHOORVWXGLRVRQRSDULDOYDORUHPDVVLPRWUDSURIHVVLRQLVWLWLWRODULGHOORVWXGLRH7LWRODUH²1XPHURGLSHQGHQWL
,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHJOLDGGHWWL
7LWRODUH1XPHURGLSHQGHQWL
$GGHWWL SURIHVVLRQLVWDFKHRSHUDLQIRUPD
LQGLYLGXDOH
1XPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH 1XPHUR
$GGHWWL GLSHQGHQWL
HVHUFL]LRFROOHWWLYRGHOO·DWWLYLWj
SURIHVVLRQDOH
,OWLWRODUHqSDULD,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
,OQXPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHqSDULDOODUHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
,OWLWRODUHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
*OL$GGHWWLQRQSRVVRQRHVVHUHLQIHULRULD´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVR
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHOQXPHURGLDGGHWWL
1XPHURDGGHWWL ´)DWWRUHFRUUHWWLYRLQGLYLGXDOHµ1XPHURGLSHQGHQWL
SURIHVVLRQLVWDFKH RSHUDLQIRUPD
LQGLYLGXDOH
— 210 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
'RYH
• $OWUHFRPSRQHQWLQHJDWLYHQHWWH $OWUHFRPSRQHQWLQHJDWLYH²&DQRQLGLORFD]LRQHILQDQ]LDULDHQRQ
ILQDQ]LDULD UHODWLYL D EHQL LPPRELOL ² &DQRQL GL ORFD]LRQH ILQDQ]LDULD H QRQ ILQDQ]LDULD UHODWLYL D EHQL
VWUXPHQWDOLPRELOL;
• 0DUJLQH 9DORUHFUHDWRGDOORVWXGLRSURIHVVLRQDOH²6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH
• 0DUJLQH QHWWR 0DUJLQH ² >6RJOLD PLQLPD GL FRHUHQ]D GHO PDUJLQH GHO SURIHVVLRQLVWD 3URIHVVLRQLVWLWLWRODULGHOORVWXGLR@
• 9DORUH FUHDWR GDOOR VWXGLR SURIHVVLRQDOH &RPSHQVL GLFKLDUDWL ² 6SHVH SHU SUHVWD]LRQL GL
FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD ² &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH
DIIHUHQWLO·DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD²&RQVXPL²$OWUHVSHVH²$OWUHFRPSRQHQWLQHJDWLYHQHWWH
1XPHURDGGHWWL 1XPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH ´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ HVHUFL]LRFROOHWWLYR 1XPHURGLSHQGHQWL
GHOO·DWWLYLWj
SURIHVVLRQDOH
/D GHILQL]LRQH GHO ´)DWWRUH FRUUHWWLYR LQGLYLGXDOHµ H GHO ´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ q ULSRUWDWD QHOOD ´1RWD DOOD YDULDELOH GL
UHJUHVVLRQH2UHGHGLFDWHDOO·DWWLYLWjµ,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
/DVRJOLDPLQLPDGLFRHUHQ]DGHOPDUJLQHGHOSURIHVVLRQLVWDqODVRJOLDPLQLPDGHOO·LQGLFDWRUH´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGL
VSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWRµDSSOLFDWDDOO·LQWHUDSODWHDGHLFRQWULEXHQWL
— 211 —
— 212 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
0RGDOLWjGL
GLVWULEX]LRQH
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLSVLFRWHUDSLDGLJUXSSRHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
68%$//(*$72'²',675,%8=,21,9(17,/,&+(,1',&$725,',&2(5(1=$
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 213 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 214 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
,QGLFDWRUH
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLDWWLYLWjGLSUHYHQ]LRQHHSURPR]LRQHGHOODVDOXWHHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 215 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 216 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
,QGLFDWRUH
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVYROJRQRO·DWWLYLWjSUHYDOHQWHPHQWHSHULOFRPPLWWHQWHSULQFLSDOH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 217 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 218 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
,QGLFDWRUH
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLFRQVXOHQ]DGLSVLFRORJLDJLXULGLFDHSVLFRSDWRORJLDIRUHQVHHVLULYROJRQRDGXQDSOXUDOLWjGL
FRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 219 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Serie generale - n. 301
— 220 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
,QGLFDWRUH
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLSVLFRORJLDGLFRPXQLWjHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 221 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 222 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
,QGLFDWRUH
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHHVHUFLWDQRODSURIHVVLRQHLQIRUPDFROOHWWLYD
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 223 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 224 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
,QGLFDWRUH
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHLQSUHYDOHQ]DVLRFFXSDQRGLSVLFRWHUDSLDLQGLYLGXDOHGLFRSSLDHRGHOODIDPLJOLDHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 225 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 226 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
,QGLFDWRUH
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLFRQVXOHQ]DSVLFRORJLFDSHULOODYRURHOHRUJDQL]]D]LRQLHVLULYROJRQRDGXQDSOXUDOLWjGL
FRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 227 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 228 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
,QGLFDWRUH
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLFRQVXOHQ]DSVLFRORJLFDFOLQLFDHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 229 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
,QGLFDWRUH
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 230 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLIRUPD]LRQHHGLGDWWLFDHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
— 231 —
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQLH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWL
FRQDQ]LDQLWj
SURIHVVLRQDOH
ROWUHDQQL
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
,QGLFDWRUH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
3URIHVVLRQLVWL
GLSHQGHQWHRDVVLPLODWR FRQDQ]LDQLWj
LQPLJOLDLDGLHXUR
SURIHVVLRQDOH
ILQRDDQQL
*UXSSR
WHUULWRULDOH
30-12-2014
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72(9$/25,62*/,$3(5*/,,1',&$725,',&2(5(1=$
5HQGLPHQWRORUGRSHUDGGHWWR
²LQSUHVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
0RGDOLWjGL 5HVDRUDULDSHUDGGHWWR
&OXVWHU
GLSHQGHQWHRDVVLPLODWR
GLVWULEX]LRQH
LQPLJOLDLDGLHXUR
6RJOLDPDVVLPD
6RJOLDPLQLPD
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
&OXVWHU
0RGDOLWjGLGLVWULEX]LRQH
,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVL
6RJOLDPLQLPD
6RJOLDPDVVLPD
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
— 232 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&OXVWHU
0RGDOLWjGLGLVWULEX]LRQH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWR
LQPLJOLDLDGLHXUR
6RJOLDPLQLPD
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
— 233 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
&OXVWHU
0RGDOLWjGLGLVWULEX]LRQH
Serie generale - n. 301
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWR
LQPLJOLDLDGLHXUR
6RJOLDPLQLPD
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHILQRDDQQL*UXSSRWHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQLHILQRDDQQL*UXSSR
WHUULWRULDOH
3URIHVVLRQLVWLFRQDQ]LDQLWjSURIHVVLRQDOHROWUHDQQL*UXSSRWHUULWRULDOH
— 234 —
0RGDOLWjGL
GLVWULEX]LRQH
0RGDOLWjGL
GLVWULEX]LRQH
— 235 —
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVYROJRQRO·DWWLYLWjSUHYDOHQWHPHQWHSHULOFRPPLWWHQWHSULQFLSDOH
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLDWWLYLWjGLSUHYHQ]LRQHHSURPR]LRQHGHOODVDOXWHHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLSVLFRWHUDSLDGLJUXSSRHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
68%$//(*$72)²',675,%8=,21,9(17,/,&+(,1',&$725,',1250$/,7­(&2120,&$
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
0RGDOLWjGL
GLVWULEX]LRQH
0RGDOLWjGL
GLVWULEX]LRQH
— 236 —
0RGDOLWjGL
GLVWULEX]LRQH
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHLQSUHYDOHQ]DVLRFFXSDQRGLSVLFRWHUDSLDLQGLYLGXDOHGLFRSSLDHRGHOODIDPLJOLDHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHHVHUFLWDQRODSURIHVVLRQHLQIRUPDFROOHWWLYD
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLSVLFRORJLDGLFRPXQLWjHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLFRQVXOHQ]DGLSVLFRORJLDJLXULGLFDHSVLFRSDWRORJLDIRUHQVHHVLULYROJRQRDGXQDSOXUDOLWjGL
FRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
0RGDOLWjGL
GLVWULEX]LRQH
— 237 —
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLIRUPD]LRQHHGLGDWWLFDHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLFRQVXOHQ]DSVLFRORJLFDFOLQLFDHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
,QGLFDWRUH
&OXVWHU3VLFRORJLFKHVLRFFXSDQRSUHYDOHQWHPHQWHGLFRQVXOHQ]DSVLFRORJLFDSHULOODYRURHOHRUJDQL]]D]LRQLHVLULYROJRQRDGXQDSOXUDOLWjGL
FRPPLWWHQWL
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72*9$/25,62*/,$3(5*/,,1',&$725,',1250$/,7­(&2120,&$
&OXVWHU
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
6RJOLDPDVVLPD
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
— 238 —
&RQVXPL$OWUHVSHVH
7LSRORJLDGHOO·DWWLYLWj&RQVXOHQ]DSVLFRORJLFDFOLQLFD1XPHUR
7LSRORJLDGHOO·DWWLYLWj)RUPD]LRQHHGLGDWWLFD1XPHUR
7LSRORJLDGHOO·DWWLYLWj$WWLYLWjGLSUHYHQ]LRQHHGLSURPR]LRQHGHOODVDOXWH
1XPHUR
7LSRORJLDGHOO·DWWLYLWj3VLFRORJLDGLFRPXQLWj1XPHUR
7LSRORJLDGHOO·DWWLYLWj&RQVXOHQ]DGLSVLFRORJLDJLXULGLFDHSVLFRSDWRORJLD
IRUHQVH1XPHUR
7LSRORJLDGHOO·DWWLYLWj3VLFRWHUDSLDGLFRSSLD1XPHUR
7LSRORJLDGHOO·DWWLYLWj3VLFRWHUDSLDGHOODIDPLJOLD1XPHUR
7LSRORJLDGHOO·DWWLYLWj3VLFRWHUDSLDGLJUXSSR1XPHUR
7LSRORJLDGHOO·DWWLYLWj3VLFRWHUDSLDLQGLYLGXDOH1XPHUR
6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH6SHVHSHUSUHVWD]LRQLGL
FROODERUD]LRQHFRRUGLQDWDHFRQWLQXDWLYD&RPSHQVLFRUULVSRVWLDWHU]LSHU
SUHVWD]LRQLGLUHWWDPHQWHDIIHUHQWLO
DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD
2UHGHGLFDWHDOO
DWWLYLWj(WjSURIHVVLRQDOHILQRDDQQL
2UHGHGLFDWHDOO
DWWLYLWj(WjSURIHVVLRQDOHILQRDDQQL
2UHGHGLFDWHDOO
DWWLYLWj(WjSURIHVVLRQDOHILQRDDQQL
2UHGHGLFDWHDOO
DWWLYLWj(WjSURIHVVLRQDOHILQRDDQQL
2UHGHGLFDWHDOO
DWWLYLWj
2UHGHGLFDWHDOO
DWWLYLWjGLIIHUHQ]LDOHUHODWLYRDOODFRQFHQWUD]LRQHGLFRPSHQVLH
QXPHURGLSVLFRORJLDOLYHOORSURYLQFLDOH
2UHGHGLFDWHDOO·DWWLYLWjGHOOH6WDELOLFROODERUD]LRQLFRQVWXGLHRVWUXWWXUHGL
WHU]L(WjSURIHVVLRQDOHILQRDDQQL
&RQVXPL$OWUHVSHVH6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH6SHVH
SHUSUHVWD]LRQLGLFROODERUD]LRQHFRRUGLQDWDHFRQWLQXDWLYD&RPSHQVL
FRUULVSRVWLDWHU]LSHUSUHVWD]LRQLGLUHWWDPHQWHDIIHUHQWLO
DWWLYLWjSURIHVVLRQDOHH
DUWLVWLFD
9$5,$%,/(
— 239 —
&/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5 &/867(5
68%$//(*$72+&2()),&,(17,'(//()81=,21,',&203(162
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&/867(5 &/867(5
9$5,$%,/(
&RQVXPL$OWUHVSHVH
7LSRORJLDGHOO·DWWLYLWj&RQVXOHQ]DSVLFRORJLFDFOLQLFD1XPHUR
7LSRORJLDGHOO·DWWLYLWj)RUPD]LRQHHGLGDWWLFD1XPHUR
7LSRORJLDGHOO·DWWLYLWj$WWLYLWjGLSUHYHQ]LRQHHGLSURPR]LRQHGHOODVDOXWH
1XPHUR
7LSRORJLDGHOO·DWWLYLWj3VLFRORJLDGLFRPXQLWj1XPHUR
7LSRORJLDGHOO·DWWLYLWj&RQVXOHQ]DGLSVLFRORJLDJLXULGLFDHSVLFRSDWRORJLDIRUHQVH
1XPHUR
7LSRORJLDGHOO·DWWLYLWj3VLFRWHUDSLDGLFRSSLD1XPHUR
7LSRORJLDGHOO·DWWLYLWj3VLFRWHUDSLDGHOODIDPLJOLD1XPHUR
7LSRORJLDGHOO·DWWLYLWj3VLFRWHUDSLDGLJUXSSR1XPHUR
7LSRORJLDGHOO·DWWLYLWj3VLFRWHUDSLDLQGLYLGXDOH1XPHUR
6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH6SHVHSHUSUHVWD]LRQLGL
FROODERUD]LRQHFRRUGLQDWDHFRQWLQXDWLYD&RPSHQVLFRUULVSRVWLDWHU]LSHU
SUHVWD]LRQLGLUHWWDPHQWHDIIHUHQWLO
DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD
2UHGHGLFDWHDOO
DWWLYLWj(WjSURIHVVLRQDOHILQRDDQQL
2UHGHGLFDWHDOO
DWWLYLWj(WjSURIHVVLRQDOHILQRDDQQL
2UHGHGLFDWHDOO
DWWLYLWj(WjSURIHVVLRQDOHILQRDDQQL
2UHGHGLFDWHDOO
DWWLYLWj(WjSURIHVVLRQDOHILQRDDQQL
2UHGHGLFDWHDOO
DWWLYLWj
2UHGHGLFDWHDOO
DWWLYLWjGLIIHUHQ]LDOHUHODWLYRDOODFRQFHQWUD]LRQHGLFRPSHQVLH
QXPHURGLSVLFRORJLDOLYHOORSURYLQFLDOH
2UHGHGLFDWHDOO·DWWLYLWjGHOOH6WDELOLFROODERUD]LRQLFRQVWXGLHRVWUXWWXUHGLWHU]L
(WjSURIHVVLRQDOHILQRDDQQL
&RQVXPL$OWUHVSHVH6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH6SHVHSHU
SUHVWD]LRQLGLFROODERUD]LRQHFRRUGLQDWDHFRQWLQXDWLYD&RPSHQVLFRUULVSRVWLD
WHU]LSHUSUHVWD]LRQLGLUHWWDPHQWHDIIHUHQWLO
DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD
— 240 —
&/867(5
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
´6WDELOLFROODERUD]LRQHFRQVWXGLHRVWUXWWXUHGLWHU]LµSUHYDOHQWL
$VVHQ]DGLIRU]DODYRUR
— 241 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
3HU DVVHQ]D GL IRU]D ODYRUR VL LQWHQGH OD FRQWHPSRUDQHD DVVHQ]D GL ´6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWHµ ´6SHVH SHU SUHVWD]LRQL GL FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYDµ H ´&RPSHQVL
FRUULVSRVWLDWHU]LSHUSUHVWD]LRQLGLUHWWDPHQWHDIIHUHQWLO·DWWLYLWjSURIHVVLRQDOHHDUWLVWLFDµ
/H´6WDELOLFROODERUD]LRQLFRQVWXGLHRVWUXWWXUHGLWHU]LµULVXOWDQRSUHYDOHQWLVHODSHUFHQWXDOHVXLFRPSHQVLqPDJJLRUHRXJXDOHDO
SURSULRFRPSUHVRO·XVRSURPLVFXRGHOO·DELWD]LRQHµ´6WXGLRLQFRQGLYLVLRQHFRQDOWULSURIHVVLRQLVWLµ´$VVRFLD]LRQHWUDSURIHVVLRQLVWL PRQRGLVFLSOLQDUH LQWHUGLVFLSOLQDUHµ
/·DWWLYLWjqVYROWDSUHVVRDOWULVWXGLVHQHOODVH]LRQH0RGDOLWjRUJDQL]]DWLYDULVXOWDFRPSLODWDODYDULDELOH´$WWLYLWjVYROWDSUHVVRVWXGLHRVWUXWWXUHGLWHU]LµHQRQULVXOWDQRFRPSLODWHOHYDULDELOL´6WXGLR
9DULDELOLFRQWDELOLHVSUHVVHLQHXUR
,OFRPSHQVRSXQWXDOHHLOFRPSHQVRPLQLPRVHQHJDWLYLVRQRSRVWLXJXDOLD]HUR
3HULOGHWWDJOLRYHGL´1RWDDOODYDULDELOHGLUHJUHVVLRQH2UHGHGLFDWHDOO·DWWLYLWjµ
7XWWHOHYDULDELOLVRQRSRQGHUDWHSHULOFRHIILFLHQWH&2())35,93HULOGHWWDJOLRYHGL1RWDVXOFDOFRORGHOFRHIILFLHQWH&2())35,9
,OGLIIHUHQ]LDOHUHODWLYRDOODFRQFHQWUD]LRQHGLFRPSHQVLH QXPHURGLSVLFRORJLDOLYHOORSURYLQFLDOHULIHULWRDGXQDYDULDELOHGHOODIXQ]LRQHGLFRPSHQVRqFDOFRODWR PROWLSOLFDQGROD
YDULDELOHVWHVVDSHULOYDORUHGHOO·LQGLFDWRUHO·HOHQFRGHLYDORULDVVXQWLGDOO·LQGLFDWRUHLQRJQLSURYLQFLDqULSRUWDWRQHO6XE$OOHJDWR,
DOWULPHQWLIDWWRUHBHVFOXVLYR (WjSURIHVVLRQDOHILQRDDQQL
$WWLYLWjVYROWDHVFOXVLYDPHQWHSUHVVRDOWULVWXGL
(VHUFL]LRGHOODSURIHVVLRQHLQIRUPDLQGLYLGXDOH
/D YDULDELOH ´2UH GHGLFDWH DOO·DWWLYLWj GHOOH 6WDELOL FROODERUD]LRQL FRQ VWXGL HR VWUXWWXUH GL WHU]Lµ q SDUL D 2UH GHGLFDWH DOO
DWWLYLWj HVFOXVLYH SRQGHUDWH SHU ODSHUFHQWXDOH VXL FRPSHQVL GL
6WDELOLFROODERUD]LRQLFRQVWXGLHRVWUXWWXUHGLWHU]L2UHGHGLFDWHDOO
DWWLYLWjHVFOXVLYHVRQRSDULD2UHGHGLFDWHDOO
DWWLYLWjIDWWRUHBHVFOXVLYR)DWWRUHBHVFOXVLYR QHOFDVRGL
FRQWHPSRUDQHDSUHVHQ]DGHOOHVHJXHQWLFDUDWWHULVWLFKH
(WjSURIHVVLRQDOH 9DORUHPDVVLPRWUD3HULRGRGLLPSRVWD²9DORUHPDVVLPRWUD$QQRGLLQL]LRDWWLYLWjH$QQRGLLVFUL]LRQHDGDOELSURIHVVLRQDOLH
'RYH
30-12-2014
Serie generale - n. 301
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
127$$//$9$5,$%,/(',5(*5(66,21(25('(',&$7(
$//·$77,9,7­
/DYDULDELOH2UHGHGLFDWHDOO·DWWLYLWj qFDOFRODWDFRPH
2UHGHGLFDWH
´)DWWRUHFRUUHWWLYRLQGLYLGXDOHµ
DOO·DWWLYLWj GRYH
SURIHVVLRQLVWD
FKHRSHUDLQ
•
´)DWWRUH FRUUHWWLYR LQGLYLGXDOHµ
IRUPDLQGLYLGXDOH
VHWWLPDQHGLODYRURQHOO·DQQRµ
•
•
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ ´3HVR
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ q SDUL D PLQRU YDORUH WUD H QXPHUR RUH
VHWWLPDQDOLGHGLFDWHDOO·DWWLYLWjGLYLVR
´3HVR VHWWLPDQH GL ODYRUR QHOO·DQQRµ q SDUL D PLQRU YDORUH WUD ´9DORUH PDVVLPR GHOOH
VHWWLPDQHGLODYRURQHOO·DQQRµHQXPHURGLVHWWLPDQHGLODYRURQHOO·DQQRGLYLVR
2UHGHGLFDWH
DOO·DWWLYLWj HVHUFL]LR
FROOHWWLYR
GHOO·DWWLYLWj
SURIHVVLRQDOH
1XPHUR GL VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH ´)DWWRUH FRUUHWWLYR
DVVRFLD]LRQLµ
GRYH
•
•
•
´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ ´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ ´3HVR
VHWWLPDQHGLODYRURQHOO·DQQRµ
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ q SDUL D PLQRU YDORUH WUD H QXPHUR RUH
VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWj GLYLVR QXPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD
VRFLHWjRDVVRFLD]LRQHGLYLVR
´3HVR VHWWLPDQH GL ODYRUR QHOO·DQQRµ q SDUL D PLQRU YDORUH WUD ´9DORUH PDVVLPR GHOOH
VHWWLPDQHGLODYRURQHOO·DQQRµHQXPHURGLVHWWLPDQHGLODYRURQHOO·DQQRGLYLVRQXPHURVRFL
RDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHGLYLVR
,O´9DORUHPDVVLPRGHOOHVHWWLPDQHGLODYRURQHOO·DQQRµRYYHURVHWWLPDQHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDUL
DOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
— 242 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
127$68/&$/&2/2'(/&2()),&,(17(&2())35,9
/HYDULDELOLXWLOL]]DWHQHOODIXQ]LRQHGLFRPSHQVRVRQRSRQGHUDWHFRQLOFRHIILFLHQWHGLGHWHUPLQD]LRQHGHOO·LQFLGHQ]DGHOOH
SUHVWD]LRQLHIIHWWXDWHQRQLQUHJLPHGLFRQYHQ]LRQHFRQLO6HUYL]LR6DQLWDULR1D]LRQDOHQHOVHJXHQWHPRGR
9$5,$%,/(&2())35,9
GRYH
&2())35,9 3(62B661
3(62B661qLOPLQRUYDORUHWUD
&RPSHQVLGHULYDQWLGDSUHVWD]LRQLUHVHLQUHJLPHGLFRQYHQ]LRQHFRQLO6HUYL]LR6DQLWDULR1D]LRQDOH38
7RWDOH6SHVH
,QFLGHQ]DVSHVHSURIHVVLRQLVWL
H
7RWDOH6SHVH 6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH6SHVHSHUSUHVWD]LRQLGLFROODERUD]LRQHFRRUGLQDWDHFRQWLQXDWLYD
&RPSHQVLFRUULVSRVWLDWHU]LSHUSUHVWD]LRQLGLUHWWDPHQWHDIIHUHQWLO
DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD&RQVXPL$OWUHVSHVH
,QFLGHQ]D VSHVH SURIHVVLRQLVWL q VWDWR LQGLYLGXDWR GLVWLQWDPHQWH SHU JUXSSR RPRJHQHR FOXVWHU VHOH]LRQDQGR LO YDORUH
PHGLDQR GHO UDSSRUWR WUD O·DPPRQWDUH FRPSOHVVLYR GHO 7RWDOH 6SHVH H O·DPPRQWDUH FRPSOHVVLYR GHL &RPSHQVL 'LFKLDUDWL
FDOFRODWRVXOODSODWHDGHLFRQWULEXHQWLFKHKDQQR7RWDOH6SHVHPDJJLRUHGL]HUR,QDSSOLFD]LRQHSHURJQLVLQJRORVRJJHWWRLO
YDORUH GL ,QFLGHQ]D VSHVH SURIHVVLRQLVWL GD XWLOL]]DUH SHU LO FDOFROR GL 3(62B661 q RWWHQXWR SRQGHUDQGR L YDORUL GL
ULIHULPHQWRYHGL7DEHOODFRQOHSUREDELOLWjGLDSSDUWHQHQ]DDLFOXVWHU
6H L &RPSHQVL GHULYDQWL GD SUHVWD]LRQL UHVH LQ UHJLPH GL FRQYHQ]LRQH FRQ LO 6HUYL]LR 6DQLWDULR 1D]LRQDOH VRQR XJXDOL D ]HUR
DOORUD3(62B661qXJXDOHD
6HL&RPSHQVLGHULYDQWLGDSUHVWD]LRQLUHVHLQUHJLPHGLFRQYHQ]LRQHFRQLO6HUYL]LR6DQLWDULR1D]LRQDOHVRQRPDJJLRULGL]HURH
7RWDOH6SHVHqXJXDOHDDOORUD3(62B661qXJXDOHD
7DEHOOD²&RHIILFLHQWLGHOO·,QFLGHQ]DVSHVHSURIHVVLRQLVWL
&OXVWHU
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]D
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
1HOODVROD IDVHGLGHILQL]LRQHGHOODIXQ]LRQHGLFRPSHQVRL&RPSHQVLGHULYDQWLGDSUHVWD]LRQLUHVHLQUHJLPHGLFRQYHQ]LRQHFRQLO6HUYL]LR
6DQLWDULR1D]LRQDOHVRQRVWDWLLQGLYLGXDWLFRPH$OWULHOHPHQWLVSHFLILFL3HUFHQWXDOHGHLFRPSHQVLGHULYDQWLGDDWWLYLWjLQFRQYHQ]LRQHFRQLO
661&RPSHQVL'LFKLDUDWL,&RPSHQVL'LFKLDUDWLLQFOXGRQRDQFKHO·$GHJXDPHQWRGDVWXGLGLVHWWRUH
— 243 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
68%$//(*$72,²,1',&$725(3529,1&,$/(',&21&(175$=,21(',&203(16,(
180(52',36,&2/2*,
Provincia
Indicatore
Provincia
Indicatore
Provincia
Indicatore
AG
-0,2171
FR
-0,2096
PU
AL
-0,1377
GE
0,0525
PV
-0,1257
0,1310
AN
-0,1514
GO
-0,0215
PZ
-0,0900
AO
0,0437
GR
-0,1474
RA
0,1770
AP
-0,2348
IM
-0,0194
RC
-0,1225
AQ
-0,1955
IS
-0,1551
RE
0,1427
AR
-0,0110
KR
-0,0677
RG
-0,1835
AT
-0,1859
LC
0,1032
RI
-0,2830
AV
-0,1445
LE
-0,1937
RM
-0,2436
BA
-0,0896
LI
-0,2032
RN
-0,2250
BG
0,3040
LO
0,5168
RO
-0,0253
BI
0,0129
LT
-0,2948
SA
-0,1245
BL
0,1045
LU
-0,1583
SI
-0,1255
BN
-0,1032
MB
0,2598
SO
0,0125
BO
0,3206
MC
-0,1916
SP
-0,1620
BR
-0,1354
ME
-0,1264
SR
-0,1510
BS
0,2437
MI
0,8062
SS
-0,0467
BT
-0,0813
MN
0,0494
SV
0,0156
BZ
0,2999
MO
0,2091
TA
-0,1302
CA
-0,2941
MS
-0,1417
TE
-0,1694
CB
-0,2053
MT
-0,1530
TN
0,2181
CE
-0,1295
NA
-0,1204
TO
0,0041
CH
-0,3287
NO
-0,0205
TP
-0,2787
CI
-0,1114
NU
-0,1552
TR
-0,0960
CL
-0,1421
OG
0,0033
TS
0,1228
CN
-0,0159
OR
-0,1133
TV
0,0362
CO
0,2227
OT
-0,1660
UD
0,2227
CR
0,1047
PA
-0,2355
VA
0,2670
CS
-0,1101
PC
-0,0021
VB
0,0062
CT
-0,1636
PD
0,1365
VC
0,0538
CZ
-0,0131
PE
-0,4492
VE
0,0453
EN
-0,2114
PG
-0,0925
VI
0,1669
FC
-0,0125
PI
-0,0961
VR
0,1507
FE
0,0865
PN
-0,0202
VS
-0,0109
FG
-0,1501
PO
-0,0974
VT
-0,1545
FI
-0,0191
PR
-0,0991
VV
-0,1117
FM
-0,2554
PT
0,0171
— 244 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$//(*$72
1 27$ 7 (&1,&$( 0 (72'2/2*,&$ 678',2',6(7725(:.8
/$%25$725,',$1$/,6,&/,1,&+(
$ 7 7 , 9 , 7 ­ ' , / $9 2 5 2 $ 8 7 2 1 2 0 2 — 245 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
&5,7(5,3(5/·(92/8=,21('(//2678',2',6(7725(
/
DSSOLFD]LRQHGHOORVWXGLRGLVHWWRUHDWWULEXLVFHDLFRQWULEXHQWLXQ´FRPSHQVRSRWHQ]LDOHµ7DOHFRPSHQVRYLHQH
VWLPDWRWHQHQGRFRQWRVLDGLYDULDELOLFRQWDELOLVLDGLYDULDELOLVWUXWWXUDOLFKHLQIOXHQ]DQRLOULVXOWDWRHFRQRPLFR
GHO VRJJHWWR HVHUFHQWH DWWLYLWj SURIHVVLRQDOH GL VHJXLWR ´SURIHVVLRQLVWDµ DQFKH FRQ ULIHULPHQWR DO FRQWHVWR
WHUULWRULDOH LQ FXL OR VWHVVR RSHUD /
DSSOLFD]LRQH GHOOR VWXGLR FRQVHQWH LQROWUH GL YDOXWDUH OD FRHUHQ]D H OD
QRUPDOLWjHFRQRPLFDGHOSURIHVVLRQLVWDLQUHOD]LRQHDOVHWWRUHHFRQRPLFRGLDSSDUWHQHQ]D
$ WDOH VFRSR QHOO·DPELWR GHOOR VWXGLR YHQJRQR LQGLYLGXDWH OH UHOD]LRQL WUD OH YDULDELOL FRQWDELOL H OH YDULDELOL
VWUXWWXUDOLSHUDQDOL]]DUHLGLYHUVLPRGHOOLRUJDQL]]DWLYLLPSLHJDWLQHOO·HVSOHWDPHQWRGHOO·DWWLYLWj
/·HYROX]LRQH GHOOR VWXGLR GL VHWWRUH q ILQDOL]]DWD D FRJOLHUH HYHQWXDOL FDPELDPHQWL VWUXWWXUDOL PRGLILFKH GHL
PRGHOOLRUJDQL]]DWLYLHYDULD]LRQLGLPHUFDWRDOO·LQWHUQRGHOVHWWRUHHFRQRPLFRHSUHVXSSRQHXQ·DWWLYLWjGLDQDOLVL
HULFHUFDHFRQRPLFDFKHYLHQHFRQGRWWDDWWLQJHQGRDIRQWLLQIRUPDWLYHSXEEOLFKHHQRQSXEEOLFKH
/HIRQWLSXEEOLFKHVRQRUDSSUHVHQWDWHGDHODERUD]LRQLGLHQWLRVRFLHWjFKHVYROJRQRULFHUFKHGLWLSRHFRQRPLFR
VWDWLVWLFR,VWDW&HQVLVHFFHFKHIRUQLVFRQRGDWLHLQIRUPD]LRQLVXOO·DQGDPHQWRHFRQRPLFRGHLPHUFDWLVXOOD
VWUXWWXUDHODGLPHQVLRQHGHLSULQFLSDOLVHWWRULHFRQRPLFLHVXOODFRQJLXQWXUDHFRQRPLFD
2OWUH DOOH IRQWL GL FDUDWWHUH SXEEOLFR FKH IRUQLVFRQR LQIRUPD]LRQL SL JHQHUDOL YHQJRQR XWLOL]]DWH IRQWL
VSHFLILFKH VHWWRULDOL ULYLVWH VSHFLDOL]]DWH SDUWHFLSD]LRQH D VHPLQDUL H FRQYHJQL VSHFLDOLVWLFL SXEEOLFD]LRQL GHL
SULQFLSDOL LVWLWXWL GL ULFHUFD LQGDJLQL FDPSLRQDULH HFF VL WUDWWD GL IRQWL FKH LOOXVWUDQR O·DUWLFROD]LRQH HG
HYROX]LRQH GHOO·RIIHUWD VLD LQ WHUPLQL GL PRGHOOL RUJDQL]]DWLYL DGRWWDWL FKH GL JDPPD GL VHUYL]L SURIHVVLRQDOL
HURJDWL O·DQGDPHQWR H OD FRPSRVL]LRQH GHOOD GRPDQGD O·LPSDWWR GL SURYYHGLPHQWL QRUPDWLYL VXOO·DWWLYLWj
VXOO·RUJDQL]]D]LRQHHVXOODVWUXWWXUDGHOORVWXGLRSURIHVVLRQDOH
8Q VXSSRUWR SL GLUHWWR H RSHUDWLYR SURYLHQH GD XQD UHWH GL WHFQLFL FRVWLWXLWD GD LVWLWXWL XQLYHUVLWDUL FHQWUL GL
ULFHUFDGRFHQWLHULFHUFDWRULFKHRSHUDDQFKHWUDPLWHO·XWLOL]]RGLSDQHOGLLPSUHVHHSURIHVVLRQLVWL
'LVHJXLWRYHQJRQRHVSRVWLLFULWHULVHJXLWLSHUODFRVWUX]LRQHGHOORVWXGLRGLVHWWRUH:.8HYROX]LRQHGHOOR
VWXGLR9.8
/·DWWLYLWjHFRQRPLFDRJJHWWRGHOORVWXGLRGLVHWWRUH:.8qTXHOODUHODWLYDDOVHJXHQWHFRGLFH$7(&2
•
²/DERUDWRULGLDQDOLVLFOLQLFKH
/·HYROX]LRQHGHOORVWXGLRGLVHWWRUHqVWDWDFRQGRWWDDQDOL]]DQGROHLQIRUPD]LRQLFRQWHQXWHQHOPRGHOOR9.8
SHUODFRPXQLFD]LRQHGHLGDWLULOHYDQWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUHSHULOSHULRGRG·LPSRVWD
WUDVPHVVRGDLFRQWULEXHQWLTXDOHDOOHJDWRDOPRGHOOR81,&2
,FRQWULEXHQWLLQWHUHVVDWLVRQRULVXOWDWLSDULD
1HOOD SULPD IDVH GL DQDOLVL SRVL]LRQL VRQR VWDWH VFDUWDWH LQ TXDQWR QRQ XWLOL]]DELOL QHOOH VXFFHVVLYH IDVL
GHOO·HODERUD]LRQH GHOOR VWXGLR GL VHWWRUH FDVL GL FHVVD]LRQH GL DWWLYLWj VLWXD]LRQL GL QRQ QRUPDOH VYROJLPHQWR
GHOO·DWWLYLWjFRQWULEXHQWLIRUIHWDULFRPSHQVLGLFKLDUDWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUHPDJJLRULGL
HXUR
6XL GDWL FRQWHQXWL QHL PRGHOOL VWXGL GL VHWWRUH GHOOD UHVWDQWH SODWHD VRQR VWDWH FRQGRWWH DQDOLVL VWDWLVWLFKH SHU
ULOHYDUHODFRPSOHWH]]DODFRUUHWWH]]DHODFRHUHQ]DGHOOHLQIRUPD]LRQLLQHVVLFRQWHQXWH
7DOL DQDOLVL KDQQR FRPSRUWDWR DL ILQL GHOOD GHILQL]LRQH GHO FDPSLRQH GHOOR VWXGLR OR VFDUWR GL XOWHULRUL SRVL]LRQL,PRWLYLGLVFDUWRVRQRVWDWL
•
•
•
•
•
•
•
TXDGUR'HOHPHQWLVSHFLILFLGHOO
DWWLYLWjQRQFRPSLODWR
TXDGUR*HOHPHQWLFRQWDELOLQRQFRPSLODWR
FRPXQHGHOTXDGUR%XQLWjORFDOLGHVWLQDWHDOO·HVHUFL]LRGHOO·DWWLYLWjHRDQDJUDILFRPDQFDQWHRHUUDWR
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLUHODWLYHDOO·DWWLYLWjGLODERUDWRULRGLDQDOLVLTXDGUR'
HUUDWDFRPSLOD]LRQHGHOOHSHUFHQWXDOLUHODWLYHDOODWLSRORJLDGHOODFOLHQWHODTXDGUR'
QRQLQHUHQ]DGLDWWLYLWjGLFKLDUDWHFRQORVWXGLRLQRJJHWWRTXDGUR'
LQFRQJUXHQ]HIUDLGDWLVWUXWWXUDOLHLGDWLFRQWDELOL
— 246 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$VHJXLWRGHJOLVFDUWLHIIHWWXDWLLOQXPHURGHLPRGHOOLRJJHWWRGHOOHVXFFHVVLYHDQDOLVLqULVXOWDWRSDULD
,'(17,),&$=,21('(,*5833,202*(1(,
3HUVXGGLYLGHUHLSURIHVVLRQLVWLLQJUXSSLRPRJHQHLVXOODEDVHGHJOLDVSHWWLVWUXWWXUDOLqVWDWDVHJXLWDXQDVWUDWHJLD
GLDQDOLVLFKHFRPELQDLQVHTXHQ]DGXHWHFQLFKHVWDWLVWLFKHGLWLSRPXOWLYDULDWR
•
•
XQ·DQDOLVLIDWWRULDOHGHOWLSR$QDO\VHGHVGRQQpHVHQHOODIDWWLVSHFLHO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOL
XQSURFHGLPHQWRGL&OXVWHU$QDO\VLV
/·$QDOLVL LQ &RPSRQHQWL 3ULQFLSDOL q XQD WHFQLFD VWDWLVWLFD FKH SHUPHWWH GL ULGXUUH LO QXPHUR GHOOH YDULDELOL
RULJLQDULHSXUFRQVHUYDQGRJUDQSDUWHGHOO·LQIRUPD]LRQHLQL]LDOH$WDOILQHYHQJRQRLGHQWLILFDWHQXRYHYDULDELOL
GHWWHFRPSRQHQWLSULQFLSDOLWUDORURRUWRJRQDOLOLQHDUPHQWHLQGLSHQGHQWLLQFRUUHODWH
/HYDULDELOLSUHVHLQHVDPHQHOO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOLVRQRTXHOOHSUHVHQWLLQWXWWLLTXDGULGHOPRGHOOR
DGHFFH]LRQHGHOOHYDULDELOLGHOTXDGURGHJOLHOHPHQWLFRQWDELOL7DOHVFHOWDQDVFHGDOO·HVLJHQ]DGLFDUDWWHUL]]DUHL
VRJJHWWL LQ EDVH DL SRVVLELOL PRGHOOL RUJDQL]]DWLYL DOOH GLYHUVH PRGDOLWj GL VYROJLPHQWR GHOO·DWWLYLWj HFF WDOH
FDUDWWHUL]]D]LRQH q SRVVLELOH VROR XWLOL]]DQGR OH LQIRUPD]LRQL UHODWLYH DOOD VWUXWWXUD GHL PRGHOOL RUJDQL]]DWLYL DO
PHUFDWRGLULIHULPHQWRHDWXWWLTXHJOLHOHPHQWLVSHFLILFLFKHFDUDWWHUL]]DQROHGLYHUVHUHDOWjSURIHVVLRQDOL
1HOO·DSSOLFD]LRQH GHOO·$QDOLVL LQ &RPSRQHQWL 3ULQFLSDOL q VWDWD VFHOWD OD VROX]LRQH PLJOLRUH LQ WHUPLQL GL
VLJQLILFDWLYLWjVWDWLVWLFDHGHFRQRPLFD3HUWDQWRVRQRVWDWHVFHOWHOHFRPSRQHQWLSULQFLSDOLFKHULHVFRQRDVSLHJDUH
OD PDJJLRU SDUWH GHOOD YDULDQ]D LQL]LDOH H FKH FRQVHQWRQR VXOOD EDVH GHO FULWHULR GHOO·LQWHUSUHWDELOLWj GL
UDSSUHVHQWDUHLGLYHUVLDVSHWWLVWUXWWXUDOLGHOOHDWWLYLWjRJJHWWRGLVWXGLR
/DWHFQLFDVWDWLVWLFDGHOOD&OXVWHU$QDO\VLVDSSOLFDWDDLULVXOWDWLGHOO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOLSHUPHWWHGL
LGHQWLILFDUHJUXSSLRPRJHQHLGLSURIHVVLRQLVWLFOXVWHULQWDOPRGRqSRVVLELOHUDJJUXSSDUHLSURIHVVLRQLVWLFRQ
FDUDWWHULVWLFKHVWUXWWXUDOLHGRUJDQL]]DWLYHVLPLOL
/·XWLOL]]R FRPELQDWR GHOOH GXH WHFQLFKH q SUHIHULELOH ULVSHWWR D XQ·DSSOLFD]LRQH GLUHWWD GHOOD &OXVWHU $QDO\VLV
SRLFKpULGXFHQGRFRQO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOLLOQXPHURGLYDULDELOLVXFXLHIIHWWXDUHLOSURFHGLPHQWR
GLFODVVLILFD]LRQHO·RSHUD]LRQHGLFOXVWHULQJULVXOWDPHQRFRPSOHVVDHSLSUHFLVD
, JUXSSL RPRJHQHL LQGLYLGXDWL VRQR YDOXWDWL DQFKH LQ WHUPLQL GL VLJQLILFDWLYLWj HFRQRPLFD SHU YHULILFDUQH
O·DGHUHQ]DDOODFRQFUHWDUHDOWjVHWWRULDOH
1HO SURFHGLPHQWR GL FOXVWHULQJ DGRWWDWR TXLQGL O·RPRJHQHLWj GHL JUXSSL GHYH HVVHUH LQWHUSUHWDWD QRQ WDQWR LQ
UDSSRUWRDOOHFDUDWWHULVWLFKHGHOOHVLQJROHYDULDELOLTXDQWRLQIXQ]LRQHGHOOHSULQFLSDOLLQWHUUHOD]LRQLHVLVWHQWLWUDOH
YDULDELOLHVDPLQDWHFKHFRQFRUURQRDGHILQLUHLOSURILORGHLVLQJROLJUXSSL
/DGHVFUL]LRQHGHLJUXSSLRPRJHQHLqULSRUWDWDQHO6XE$OOHJDWR$
'(),1,=,21('(//$)81=,21(',&203(162
8QDYROWDVXGGLYLVLLSURIHVVLRQLVWLLQJUXSSLRPRJHQHLqQHFHVVDULRGHWHUPLQDUHSHUFLDVFXQJUXSSRRPRJHQHR
OD IXQ]LRQH PDWHPDWLFD FKH PHJOLR VL DGDWWD DOO·DQGDPHQWR GHL FRPSHQVL GHL SURIHVVLRQLVWL DSSDUWHQHQWL DOOR
VWHVVRJUXSSR3HUGHWHUPLQDUHWDOHIXQ]LRQHVLqULFRUVRDOOD5HJUHVVLRQH/LQHDUH0XOWLSOD
/D 5HJUHVVLRQH /LQHDUH 0XOWLSOD q XQD WHFQLFD VWDWLVWLFD FKH SHUPHWWH GL LQWHUSRODUH L GDWL FRQ XQ PRGHOOR
VWDWLVWLFRPDWHPDWLFR FKH GHVFULYH O·DQGDPHQWR GHOOD YDULDELOH GLSHQGHQWH LQ IXQ]LRQH GL XQD VHULH GL YDULDELOL
LQGLSHQGHQWL
/D VWLPD GHOOD ´IXQ]LRQH GL FRPSHQVRµ q VWDWD HIIHWWXDWD LQGLYLGXDQGR OD UHOD]LRQH WUD LO FRPSHQVR YDULDELOH
GLSHQGHQWHHLGDWLFRQWDELOLHVWUXWWXUDOLGHLSURIHVVLRQLVWLYDULDELOLLQGLSHQGHQWL
Ë RSSRUWXQR ULOHYDUH FKH SULPD GL GHILQLUH LO PRGHOOR GL UHJUHVVLRQH q VWDWD HIIHWWXDWD XQ·DQDOLVL VXL GDWL GHL
SURIHVVLRQLVWLSHUYHULILFDUHOHFRQGL]LRQLGLFRHUHQ]DGHLGDWLQHOO·HVHUFL]LRGHOO·DWWLYLWjHSHUVFDUWDUHLVRJJHWWL
1HOODIDVHGL&OXVWHU$QDO\VLVDOILQHGLJDUDQWLUHODPDVVLPDRPRJHQHLWjGHLVRJJHWWLDSSDUWHQHQWLDFLDVFXQJUXSSRYHQJRQRFODVVLILFDWH
VROR OH RVVHUYD]LRQL FKH SUHVHQWDQR FDUDWWHULVWLFKH VWUXWWXUDOL VLPLOL ULVSHWWR D TXHOOH SURSULH GL XQR VSHFLILFR JUXSSR RPRJHQHR 1RQ
YHQJRQR LQYHFH SUHVL LQ FRQVLGHUD]LRQH DL ILQL GHOOD FODVVLILFD]LRQH L VRJJHWWL FKH SRVVLHGRQR DVSHWWL VWUXWWXUDOL ULIHULELOL
FRQWHPSRUDQHDPHQWH D GXH R SL JUXSSL RPRJHQHL 8JXDOPHQWH QRQ YHQJRQR FODVVLILFDWH OH RVVHUYD]LRQL FKH SUHVHQWDQR XQ SURILOR
VWUXWWXUDOHPROWRGLVVLPLOHULVSHWWRDOO·LQVLHPHGHLFOXVWHULQGLYLGXDWL
— 247 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
DQRPDOL FLz VL q UHVR QHFHVVDULR DO ILQH GL HYLWDUH SRVVLELOL GLVWRUVLRQL QHOOD GHWHUPLQD]LRQH GHOOD ´IXQ]LRQH GL
FRPSHQVRµ
$ WDO ILQH VRQR VWDWL VHOH]LRQDWL LQ EDVH DOOD ORUR FDSDFLWj GL LQGLYLGXDUH DQRPDOLH QHOOD UHOD]LRQH WUD OH YRFL
HVDPLQDWHLVHJXHQWLLQGLFDWRULGLQDWXUDHFRQRPLFRFRQWDELOH
•
•
•
,QFLGHQ]D GHJOL DPPRUWDPHQWL SHU EHQL VWUXPHQWDOL PRELOL ULVSHWWR DO YDORUH GHJOL VWHVVL EHQL
VWUXPHQWDOLPRELOLDPPRUWL]]DELOL
,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQHVXLFRPSHQVL
$VVHQ]DGHO9DORUHGHL%HQL6WUXPHQWDOL
/HIRUPXOHGHJOLLQGLFDWRULHFRQRPLFRFRQWDELOLVRQRULSRUWDWHQHO6XE$OOHJDWR&
6XFFHVVLYDPHQWHDLILQLGHOODGHWHUPLQD]LRQHGHOFDPSLRQHGLULIHULPHQWRVRQRVWDWLHVFOXVLLSURIHVVLRQLVWLFKH
QRQULVSHWWDYDQROHFRQGL]LRQLGLQRUPDOLWjHFRQRPLFDDQFKHSHUXQVRORLQGLFDWRUHGLTXHOOLVRSUDFLWDWL
&RVuGHILQLWRLOFDPSLRQHGLULIHULPHQWRVLqSURFHGXWRDOODGHILQL]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRµSHUFLDVFXQ
JUXSSRRPRJHQHR
3HUODGHWHUPLQD]LRQHGHOOD´IXQ]LRQHGLFRPSHQVRµVRQRVWDWHXWLOL]]DWHYDULDELOLFRQWDELOLYDULDELOLVWUXWWXUDOLH
YDULDELOL WHUULWRULDOL /D VFHOWD GHOOH YDULDELOL VLJQLILFDWLYH q VWDWD HIIHWWXDWD FRQ LO PHWRGR ´VWHSZLVHµ 8QD YROWD
VHOH]LRQDWH OH YDULDELOL OD GHWHUPLQD]LRQH GHOOD ´IXQ]LRQH GL FRPSHQVRµ q RWWHQXWD DSSOLFDQGR LO PHWRGR GHL
PLQLPLTXDGUDWLJHQHUDOL]]DWLFKHFRQVHQWHGLFRQWUROODUHO·HYHQWXDOHSUHVHQ]DGLHWHURVFKHGDVWLFLWjFRQQHVVDDOOD
YDULDELOLWjOHJDWDDGDVSHWWLGLPHQVLRQDOL
1HOODGHILQL]LRQHGHOODIXQ]LRQHGLFRPSHQVRVLqWHQXWRFRQWRGHOOHGLIIHUHQ]HOHJDWHDOO·´(WjSURIHVVLRQDOHµ
7DOLGLIIHUHQ]HLQWHUYHQJRQRFRPHFRUUHWWLYLGDDSSOLFDUHDOFRHIILFLHQWHGHOODYDULDELOH´2UHGHGLFDWHDOO·DWWLYLWjµ
1HO6XE$OOHJDWR+YHQJRQRULSRUWDWHOHYDULDELOLHGLULVSHWWLYLFRHIILFLHQWLGHOOD´IXQ]LRQHGLFRPSHQVRµ
/·LQGLFDWRUHPLVXUDODSODXVLELOLWjWUDLOYDORUHGHLEHQLVWUXPHQWDOLPRELOLGLSURSULHWjDPPRUWL]]DELOLHLOYDORUHGHJOLDPPRUWDPHQWLGHL
EHQLVWUXPHQWDOLPRELOL
/·LQGLFDWRUHYHULILFDODSODXVLELOLWjWUDODYRFH´DOWUHFRPSRQHQWLQHJDWLYHµHGLOWRWDOHGHLFRPSHQVL1HOFDOFRORGHOOHDOWUHFRPSRQHQWL
QHJDWLYHQRQVLWLHQHFRQWRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLLPPRELOLHDEHQLVWUXPHQWDOLPRELOL
/·LQGLFDWRUHYHULILFDFKHDIURQWHGHOODSUHVHQ]DGL%HQL6WUXPHQWDOLWUDLGDWLVWUXWWXUDOLVLDLQGLFDWRLO9DORUHGHL%HQL6WUXPHQWDOLWUDL
GDWLFRQWDELOL
9HGL VH]LRQH ´$QDOLVL GHOOD 1RUPDOLWj (FRQRPLFDµ 6L ID SUHVHQWH FKH DL VROL ILQL LQGLFDWL SHU O·LQGLFDWRUH ´,QFLGHQ]D GHOOH DOWUH
FRPSRQHQWL QHJDWLYH DO QHWWR GHL FDQRQL GL ORFD]LRQH VXL FRPSHQVLµ VL ID ULIHULPHQWR DL FRPSHQVL GLFKLDUDWL QHO GHQRPLQDWRUH GHOOD
IRUPXOD
,O PHWRGR VWHSZLVH XQLVFH GXH WHFQLFKH VWDWLVWLFKH SHU OD VFHOWD GHO PLJOLRU PRGHOOR GL VWLPD OD UHJUHVVLRQH IRUZDUG ´LQ DYDQWLµ H OD
UHJUHVVLRQHEDFNZDUG´LQGLHWURµ/DUHJUHVVLRQHIRUZDUGSUHYHGHGLSDUWLUHGDXQPRGHOORVHQ]DYDULDELOLHGLLQWURGXUUHSDVVRGRSRSDVVR
OD YDULDELOH SL VLJQLILFDWLYD PHQWUH OD UHJUHVVLRQH EDFNZDUG LQL]LD FRQVLGHUDQGR QHO PRGHOOR WXWWH OH YDULDELOL GLVSRQLELOL H ULPXRYHQGR
SDVVRSHUSDVVRTXHOOHQRQVLJQLILFDWLYH&RQLOPHWRGRVWHSZLVHSDUWHQGRGDXQPRGHOORGLUHJUHVVLRQHVHQ]DYDULDELOLVLSURFHGHSHUSDVVL
VXFFHVVLYLDOWHUQDQGRGXHIDVLQHOODSULPDIDVHVLLQWURGXFHODYDULDELOHPDJJLRUPHQWHVLJQLILFDWLYDIUDTXHOOHFRQVLGHUDWHQHOODVHFRQGDVL
ULHVDPLQD O·LQVLHPHGHOOHYDULDELOLLQWURGRWWHSHUYHULILFDUHVHqSRVVLELOH HOLPLQDUQHTXDOFXQDQRQSL VLJQLILFDWLYD,O SURFHVVRFRQWLQXD
ILQR D TXDQGR QRQ q SL SRVVLELOH DSSRUWDUH DOFXQD PRGLILFD DOO·LQVLHPH GHOOH YDULDELOL RYYHUR TXDQGR QHVVXQD YDULDELOH SXz HVVHUH
DJJLXQWDRSSXUHHOLPLQDWD
— 248 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$33/,&$=,21('(//2678',2',6(7725(
,QIDVHGLDSSOLFD]LRQHGHOORVWXGLRGLVHWWRUHVRQRSUHYLVWHOHVHJXHQWLIDVL
$QDOLVL'LVFULPLQDQWH
$QDOLVLGHOOD&RHUHQ]D
$QDOLVLGHOOD1RUPDOLWj(FRQRPLFD
$QDOLVLGHOOD&RQJUXLWj
•
•
•
•
$1$/,6,',6&5,0,1$17(
8QDYROWDVXGGLYLVLLSURIHVVLRQLVWLLQJUXSSLRPRJHQHLqQHFHVVDULRGHWHUPLQDUHXQDUHJRODGLFODVVLILFD]LRQHLQ
JUDGRGLGHILQLUHO·DSSDUWHQHQ]DGLFLDVFXQVRJJHWWRDLJUXSSLRPRJHQHLLQGLYLGXDWLQHOODIDVHGL&OXVWHU$QDO\VLV
ODGHVFUL]LRQHGHLJUXSSLRPRJHQHLqULSRUWDWDQHO6XE$OOHJDWR$
$OULJXDUGRqVWDWDXWLOL]]DWDO·DQDOLVLGLVFULPLQDQWHOLQHDUHGL)LVKHU6LWUDWWDGLXQDWHFQLFDVWDWLVWLFDPXOWLYDULDWD
XWLOHSHULGHQWLILFDUHTXHOOHYDULDELOLFKHPHJOLRGLVFULPLQDQRLJUXSSLRPRJHQHL
1HOO·DQDOLVLGLVFULPLQDQWHOLQHDUHSHURJQLJUXSSRRPRJHQHRYLHQHFDOFRODWDXQDIXQ]LRQHGLFODVVLILFD]LRQHFRPH
FRPELQD]LRQHOLQHDUHGHOOHYDULDELOLGLVFULPLQDQWL
6XOOD EDVH GHL SXQWHJJL GLVFULPLQDQWL RWWHQXWL XWLOL]]DQGR WDOH IXQ]LRQH YLHQH GHWHUPLQDWD OD SUREDELOLWj GL
DSSDUWHQHQ]D DL JUXSSL RPRJHQHL ,Q WDO PRGR q SRVVLELOH DVVRFLDUH RJQL VLQJROR SURIHVVLRQLVWD DG XQR R SL
JUXSSLRPRJHQHLGHILQHQGROHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]D
1HO 6XE $OOHJDWR % YHQJRQR ULSRUWDWH OH YDULDELOL ULVXOWDWH VLJQLILFDWLYH QHOO·DQDOLVL FRQ L ULVSHWWLYL SHVL
GLVFULPLQDQWLLQGLYLGXDWLSHURJQLJUXSSRRPRJHQHR
$1$/,6,'(//$&2(5(1=$
/·DQDOLVLGHOODFRHUHQ]DSHUPHWWHGLYDOXWDUHLOSURIHVVLRQLVWDVXOODEDVHGLVSHFLILFLLQGLFDWRULHFRQRPLFLFDOFRODWL
FRPHUDSSRUWRWUDGHWHUPLQDWHYDULDELOLFRQWDELOLHRVWUXWWXUDOLFRQWHQXWHQHOPRGHOORSHUODFRPXQLFD]LRQHGHL
GDWLULOHYDQWLDLILQLGHOO·DSSOLFD]LRQHGHJOLVWXGLGLVHWWRUH*OL LQGLFDWRULVRQRVWDWLVHOH]LRQDWLLQEDVHDOODORUR
FDSDFLWjGLPLVXUDUHO·HIILFLHQ]DHODUHGGLWLYLWjGHOO·DWWLYLWjSURIHVVLRQDOH
&RQO·DQDOLVLGHOODFRHUHQ]DSHUFLDVFXQVRJJHWWRVLYDOXWDLOSRVL]LRQDPHQWRGHOYDORUHGLRJQLVLQJRORLQGLFDWRUH
ULVSHWWRDGXQLQWHUYDOORLQGLYLGXDWRFRPHHFRQRPLFDPHQWHFRHUHQWHVXOODEDVHGHLYDORULVRJOLDDPPLVVLELOL
*OLLQGLFDWRULXWLOL]]DWLQHOO·DQDOLVLGHOODFRHUHQ]DVRQRLVHJXHQWL
•
,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVL
/HYDULDELOLGLVFULPLQDQWLYHQJRQRVHOH]LRQDWHFRQLOPHWRGRVWHSZLVHSDUWHQGRGDTXHOOHXWLOL]]DWHQHOO·$QDOLVLLQ&RPSRQHQWL3ULQFLSDOL
/DIXQ]LRQHGLFODVVLILFD]LRQHqGHILQLWDQHOVHJXHQWHPRGR
ZL DLDLYDUGLVDLYDUGLVDLPYDUGLVP
GRYH
ZLqLOSXQWHJJLRGLVFULPLQDQWHUHODWLYRDOJUXSSRRPRJHQHRL
DLqO·LQWHUFHWWD
DLMVRQRLSHVLGLVFULPLQDQWLVFHOWLLQPRGRGDUHQGHUHPDVVLPDODVHSDUD]LRQHWUDLJUXSSL
YDUGLVMqODMHVLPDYDULDELOHGLVFULPLQDQWH
9
/DSUREDELOLWjGLDSSDUWHQHQ]DDOJUXSSRRPRJHQHRLqFDOFRODWDQHOVHJXHQWHPRGR
H {Z L − 0D[ [Z Z Z Q ]}
3URE L =
{Z − 0D[ [Z Z Z Q ]}
¦ NQ = H N
GRYHQqLOQXPHURFRPSOHVVLYRGLJUXSSLRPRJHQHL
/HSUREDELOLWjGLDSSDUWHQHQ]DDLFOXVWHUVRQRDUURWRQGDWHDOODTXLQWDFLIUDGHFLPDOH
/·LQGLFDWRUH PLVXUD LO SHVR GHO WRWDOH GHOOH VSHVH VRVWHQXWH GDOOR VWXGLR SURIHVVLRQDOH DO QHWWR GHOOH VSHVH SHU FDQRQL GL ORFD]LRQH
ILQDQ]LDULDHQRQILQDQ]LDULDVXLFRPSHQVLFRPSOHVVLYDPHQWHLQFDVVDWL
— 249 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
•
,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWL
•
0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWR
•
•
5HQGLPHQWR ORUGR SHU DGGHWWR LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R
DVVLPLODWR
5HVDRUDULDSHUDGGHWWR
/HIRUPXOHGHJOLLQGLFDWRULXWLOL]]DWLVRQRULSRUWDWHQHO6XE$OOHJDWR&
$LILQLGHOODLQGLYLGXD]LRQHGHLYDORULVRJOLDFKHGHILQLVFRQRODFRHUHQ]DHFRQRPLFDSHUFLDVFXQRGHJOLLQGLFDWRUL
XWLOL]]DWLVRQRVWDWHHVDPLQDWHSUHOLPLQDUPHQWHDGHFFH]LRQHGHOO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHOFRVWRSHULO
JRGLPHQWRGLEHQLGLWHU]LHGHJOLDPPRUWDPHQWLµOHUHODWLYHGLVWULEX]LRQLYHQWLOLFKH GLIIHUHQ]LDWHSHUJUXSSR
RPRJHQHRSHUO·LQGLFDWRUH´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH
R DVVLPLODWRµ DQFKH VXOOD EDVH GHOOD ´7HUULWRULDOLWj JHQHUDOHµ D OLYHOOR SURYLQFLDOH SHU O·LQGLFDWRUH ´,QFLGHQ]D
GHOOH VSHVH VXL FRPSHQVLµ DQFKH VXOOD EDVH GHOOD SUHVHQ]DDVVHQ]D GL IRU]D ODYRUR , YDORUL GHOOH VRJOLH GHL
GLYHUVL LQGLFDWRUL VRQR VWDWL LQGLYLGXDWL DG HFFH]LRQH GHOO·LQGLFDWRUH ´,QGLFH GL FRSHUWXUD GHO FRVWR SHU LO
JRGLPHQWR GL EHQL GL WHU]L H GHJOL DPPRUWDPHQWLµ VFHJOLHQGR TXHOOL FKH SRVVRQR ULWHQHUVL HFRQRPLFDPHQWH
SODXVLELOLFRQULIHULPHQWRDOOHSUDWLFKHRVVHUYDELOLQHOVHWWRUHHQHOFOXVWHUVSHFLILFR3HUO¶LQGLFDWRUH´0DUJLQHGHO
SURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWRµVLqLQROWUHWHQXWRFRQWR
GHOO·DUHD WHUULWRULDOH GL DSSDUWHQHQ]D 3HU O·LQGLFDWRUH ´,QFLGHQ]D GHOOH VSHVH VXL FRPSHQVLµ VL q LQYHFH WHQXWR
FRQWR SULQFLSDOPHQWH GHO GLYHUVR DPPRQWDUH GHOOH VSHVH VRVWHQXWH GDL FRQWULEXHQWL FKH VL DYYDOJRQR GL
GLSHQGHQWLHRFROODERUDWRULULVSHWWRDFRORURFKHQRQVHQHDYYDOJRQR
/HGLVWULEX]LRQLYHQWLOLFKHGHJOLLQGLFDWRULGLFRHUHQ]DHFRQRPLFDYHQJRQRULSRUWDWHQHO6XE$OOHJDWR'
,YDORULVRJOLDGLFRHUHQ]DDPPLVVLELOLVRQRULSRUWDWLQHO6XE$OOHJDWR(
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVLµVHO·LQGLFDWRUHqFDOFRODELOHHVHLO
VXRYDORUHVLSRVL]LRQDDOO·LQWHUQRGHOO·LQWHUYDOORLQGLYLGXDWRFRPHHFRQRPLFDPHQWHFRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´,QGLFHGLFRSHUWXUDGHOFRVWRSHULOJRGLPHQWRGLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWLµ VH LO YDORUH GHOO·LQGLFDWRUH q PDJJLRUH R XJXDOH D 1HO FDVR LQ FXL O·LQGLFDWRUH ULVXOWL QRQ
FDOFRODELOHFRQLO0DUJLQHQHWWRPDJJLRUHGL]HURRO·LQGLFDWRUHULVXOWLLQGHWHUPLQDWRLOVRJJHWWRYLHQHGHILQLWR
FRHUHQWH1HOFDVRLQFXLO·LQGLFDWRUHULVXOWLQRQFDOFRODELOHFRQLO0DUJLQHQHWWRPLQRUHGL]HURLOVRJJHWWRYLHQH
GHILQLWRQRQFRHUHQWH
/·LQGLFDWRUH PLVXUD LO JUDGR GL FRSHUWXUD GHL SULQFLSDOL FRVWL SHU O·XWLOL]]R GL EHQL VWUXPHQWDOL DOO·DWWLYLWj GHOOR VWXGLR SURIHVVLRQDOH
PHGLDQWH LO ´PDUJLQHµ DO QHWWR GHOOD UHPXQHUD]LRQH ULWHQXWD HFRQRPLFDPHQWH SODXVLELOH GHO WLWRODUH R GHL VRFLDVVRFLDWL GHOOR VWXGLR
SURIHVVLRQDOH
/·LQGLFDWRUH PLVXUD LO FRQWULEXWR GHO WLWRODUH R GHL VRFLDVVRFLDWL GHOOR VWXGLR SURIHVVLRQDOH DOOD FUHD]LRQH GHO ´PDUJLQHµ RYYHUR
UDSSUHVHQWDODFDSDFLWjGLUHPXQHUDUHDOORUGRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLPRELOLHLPPRELOLHGHJOL
DPPRUWDPHQWLODSURSULDDWWLYLWjSURIHVVLRQDOH
7DOH LQGLFDWRUH VL DSSOLFD VROR LQ DVVHQ]D GL ´6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWHµ H ´6SHVH SHU SUHVWD]LRQL GL FROODERUD]LRQH
FRRUGLQDWDHFRQWLQXDWLYDµ
/·LQGLFDWRUHPLVXUDLOYDORUHSURGRWWRGDOORVWXGLRSURIHVVLRQDOHGHVWLQDWRDUHPXQHUDUHROWUHLOWLWRODUHRVRFLDVVRFLDWL DQFKHTXHL
IDWWRUL FKH FRQWULEXLVFRQR D JHQHUDUH YDORUH FRPH LO ODYRUR VRWWR IRUPD GL VWLSHQGL FRQWULEXWL LQGHQQLWj GL ILQH UDSSRUWR HG L EHQL
VWUXPHQWDOLDOO·DWWLYLWjVRWWRIRUPDQHOFDVRGLJRGLPHQWRGLEHQLGLWHU]LGLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQL
LPPRELOLHRDEHQLVWUXPHQWDOLPRELOLHQHOFDVRGLJRGLPHQWRGLEHQLLQSURSULHWjGLDPPRUWDPHQWL
7DOHLQGLFDWRUHVLDSSOLFDVRORLQSUHVHQ]DGL´6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHµHR´6SHVHSHUSUHVWD]LRQLGLFROODERUD]LRQH
FRRUGLQDWDHFRQWLQXDWLYDµ
/·LQGLFDWRUH PLVXUD O·DPPRQWDUH GHL FRPSHQVL SHUFHSLWL GDOOR VWXGLR SURIHVVLRQDOH SHU L VHUYL]L HURJDWL GD FLDVFXQ DGGHWWR QHOO·DUFR
WHPSRUDOHGLXQ·RUD
1HOOD WHUPLQRORJLD VWDWLVWLFD VL GHILQLVFH ´GLVWULEX]LRQH YHQWLOLFDµ O·LQVLHPH GHL YDORUL FKH VXGGLYLGRQR OH RVVHUYD]LRQL RUGLQDWH SHU
YDORULFUHVFHQWLGHOO·LQGLFDWRUHLQJUXSSLGLXJXDOHQXPHURVLWj,OSULPRYHQWLOHqLOYDORUHDOGLVRWWRGHOTXDOHVLSRVL]LRQDLOSULPR
GHOOHRVVHUYD]LRQLLOVHFRQGRYHQWLOHqLOYDORUHDOGLVRWWRGHOTXDOHVLSRVL]LRQDLOSULPRGHOOHRVVHUYD]LRQLHFRVuYLD
,FULWHULHOHFRQFOXVLRQLGHOORVWXGLRVRQRULSRUWDWLQHOO·DSSRVLWR'HFUHWR0LQLVWHULDOH
/D SUHVHQ]D GL IRU]D ODYRUR q FRQGL]LRQDWD DOOD SUHVHQ]D GL 6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R 6SHVH SHU SUHVWD]LRQL GL
FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD R &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H
DUWLVWLFD
8Q LQGLFDWRUH VL GHILQLVFH QRQ FDOFRODELOH TXDQGR QHO UDSSRUWR QXPHUDWRUH GLYLVR GHQRPLQDWRUH LO GHQRPLQDWRUH q SDUL D ]HUR H LO
QXPHUDWRUHqGLYHUVRGD]HUR
8QLQGLFDWRUHVLGHILQLVFHLQGHWHUPLQDWRTXDQGRQHOUDSSRUWRQXPHUDWRUHGLYLVRGHQRPLQDWRUHLOQXPHUDWRUHHLOGHQRPLQDWRUHVRQR
HQWUDPELSDULD]HUR
— 250 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
,OVRJJHWWRULVXOWDFRHUHQWHSHUJOLLQGLFDWRUL´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGL
ODYRURGLSHQGHQWHRDVVLPLODWRµH´5HQGLPHQWRORUGRSHUDGGHWWRLQSUHVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWRµVHLOYDORUHGHJOLLQGLFDWRULqPDJJLRUHRXJXDOHDOODVRJOLDPLQLPDLQGLYLGXDWD1HOFDVR
LQFXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµULVXOWLSDULD]HURLOVRJJHWWRYLHQHGHILQLWR
FRHUHQWH
,OVRJJHWWRULVXOWDFRHUHQWHSHUO·LQGLFDWRUH´5HVDRUDULDSHUDGGHWWRµVHLOYDORUHGHOO·LQGLFDWRUHqPLQRUHRXJXDOH
DOODVRJOLDPDVVLPDLQGLYLGXDWD1HOFDVRLQFXLLO´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµ
ULVXOWLSDULD]HURLOVRJJHWWRYLHQHGHILQLWRFRHUHQWH
,Q DSSOLFD]LRQH SHU RJQL VLQJROR VRJJHWWR L YDORUL VRJOLD GL FLDVFXQ LQGLFDWRUH GL FRHUHQ]D HFRQRPLFD VRQR
RWWHQXWLFRPHPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHLYDORULGLULIHULPHQWRLQGLYLGXDWL
SHUJUXSSRRPRJHQHR3HUO·LQGLFDWRUH´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWRµWDOLYDORULVRJOLDYHQJRQRSRQGHUDWLDQFKHVXOODEDVHGHOODSHUFHQWXDOHGLDSSDUWHQHQ]D
DOOHGLYHUVHDUHHWHUULWRULDOL
$1$/,6,'(//$1250$/,7­(&2120,&$
/·DQDOLVLGHOODQRUPDOLWjHFRQRPLFDqPLUDWDDGLQGLYLGXDUHODFRUUHWWH]]DGHLGDWLGLFKLDUDWL$WDOILQHSHURJQL
VLQJRORVRJJHWWRYHQJRQRFDOFRODWLLQGLFDWRULHFRQRPLFRFRQWDELOLGDFRQIURQWDUHFRQLYDORULGLULIHULPHQWRFKH
LQGLYLGXDQROHFRQGL]LRQLGLQRUPDOLWjHFRQRPLFD
*OL LQGLFDWRUL GL QRUPDOLWj HFRQRPLFD VRQR VWDWL SHUWDQWR VHOH]LRQDWL LQ EDVH DOOD ORUR FDSDFLWj GL LQGLYLGXDUH
DQRPDOLHQHOODUHOD]LRQHWUDOHYRFLHVDPLQDWH
*OLLQGLFDWRULGLQRUPDOLWjHFRQRPLFDLQGLYLGXDWLVRQRLVHJXHQWL
•
•
•
,QFLGHQ]D GHJOL DPPRUWDPHQWL SHU EHQL VWUXPHQWDOL PRELOL ULVSHWWR DO YDORUH GHJOL VWHVVL EHQL
VWUXPHQWDOLPRELOLDPPRUWL]]DELOL
,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQHVXLFRPSHQVL
$VVHQ]DGHO9DORUHGHL%HQL6WUXPHQWDOL
/DIRUPXODGHOO·LQGLFDWRUHXWLOL]]DWRqULSRUWDWDQHO6XE$OOHJDWR&
$LILQLGHOO·LQGLYLGXD]LRQHGHLYDORULGLULIHULPHQWRSHUJOLLQGLFDWRULGLQRUPDOLWjHFRQRPLFDVRQRVWDWHHVDPLQDWH
SUHOLPLQDUPHQWHDGHFFH]LRQHGHOO·LQGLFDWRUH´$VVHQ]DGHO9DORUHGHL%HQL6WUXPHQWDOLµOHUHODWLYHGLVWULEX]LRQL
YHQWLOLFKH GLIIHUHQ]LDWH SHU JUXSSR RPRJHQHR , YDORUL GHOOH VRJOLH GHL GLYHUVL LQGLFDWRUL VRQR VWDWL LQGLYLGXDWL
VFHJOLHQGR TXHOOL FKH SRVVRQR ULWHQHUVL HFRQRPLFDPHQWH SODXVLELOL FRQ ULIHULPHQWR DOOH SUDWLFKH RVVHUYDELOL QHO
VHWWRUH H QHO FOXVWHU VSHFLILFR 3HU O·´$VVHQ]D GHO 9DORUH GHL %HQL 6WUXPHQWDOLµ VRQR VWDWL ULWHQXWL QRUPDOL L
VRJJHWWLFKHKDQQRFRPSLODWRFRHUHQWHPHQWHLGDWLVWUXWWXUDOLULIHULWLDLEHQLVWUXPHQWDOLHGLGDWLFRQWDELOLUHODWLYL
DO9DORUHGHL%HQL6WUXPHQWDOLPRELOL
/HGLVWULEX]LRQLYHQWLOLFKHGHJOLLQGLFDWRULGLQRUPDOLWjHFRQRPLFDYHQJRQRULSRUWDWHQHO6XE$OOHJDWR)
,YDORULVRJOLDGLQRUPDOLWjHFRQRPLFDVRQRULSRUWDWLQHO6XE$OOHJDWR*
,Q DSSOLFD]LRQH SHU RJQL VLQJROR VRJJHWWR L YDORUL VRJOLD GL FLDVFXQ LQGLFDWRUH GL QRUPDOLWj HFRQRPLFD VRQR
RWWHQXWLFRPHPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHLYDORULGLULIHULPHQWRLQGLYLGXDWL
SHUJUXSSRRPRJHQHR
&LDVFXQR GL TXHVWL LQGLFDWRUL QHOO·RUGLQH GL VHJXLWR ULSRUWDWR SXz GHWHUPLQDUH PDJJLRUL FRPSHQVL FKH VL
VRPPDQR DO FRPSHQVR SXQWXDOH H DO FRPSHQVR PLQLPR VWLPDWL FRQ O·DQDOLVL GHOOD FRQJUXLWj VXFFHVVLYDPHQWH
GHVFULWWD
*OLLQGLFDWRULVRQRDUURWRQGDWLDOODVHFRQGDFLIUDGHFLPDOH
/·LQGLFDWRUHPLVXUDODSODXVLELOLWjWUDLOYDORUHGHLEHQLVWUXPHQWDOLPRELOLGLSURSULHWjDPPRUWL]]DELOLHLOYDORUHGHJOLDPPRUWDPHQWLGHL
EHQLVWUXPHQWDOLPRELOL
/·LQGLFDWRUHYHULILFDODSODXVLELOLWjWUDODYRFH´DOWUHFRPSRQHQWLQHJDWLYHµHGLOWRWDOHGHLFRPSHQVL1HOFDOFRORGHOOHDOWUHFRPSRQHQWL
QHJDWLYHQRQVLWLHQHFRQWRGHLFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLLPPRELOLHDEHQLVWUXPHQWDOLPRELOL
/·LQGLFDWRUHYHULILFDFKHDIURQWHGHOODSUHVHQ]DGL%HQL6WUXPHQWDOLWUDLGDWLVWUXWWXUDOLVLDLQGLFDWRLO9DORUHGHL%HQL6WUXPHQWDOLWUDL
GDWLFRQWDELOL
/HYDULDELOLQXPHULFKHULIHULWHDGLPSRUWLLQHXURVRQRDUURWRQGDWHDOYDORUHLQWHUR
— 251 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
,1&,'(1=$ '(*/, $00257$0(17, 3(5 %(1, 67580(17$/, 02%,/, 5,63(772 $/ 9$/25(
'(*/,67(66,%(1,67580(17$/,02%,/,$00257,==$%,/,
3HU RJQL FRQWULEXHQWH VL GHWHUPLQD LO YDORUH PDVVLPR DPPLVVLELOH SHU OD YDULDELOH ´$PPRUWDPHQWL SHU EHQL
PRELOL VWUXPHQWDOL DO QHWWR GHL EHQL GL FRVWR XQLWDULR QRQ VXSHULRUH D HXURµ PROWLSOLFDQGR OD VRJOLD
PDVVLPDGLQRUPDOLWjHFRQRPLFDGHOO·LQGLFDWRUHGLYLVDSHULO´9DORUHGHLEHQLVWUXPHQWDOLPRELOLLQSURSULHWj
DOQHWWRGHLEHQLGLFRVWRXQLWDULRQRQVXSHULRUHDHXURµ
1HOFDVRLQFXLLOYDORUHGLFKLDUDWRGHJOL´$PPRUWDPHQWLSHUEHQLPRELOLVWUXPHQWDOLDOQHWWRGHLEHQLGLFRVWR
XQLWDULRQRQVXSHULRUHDHXURµVLSRVL]LRQLDOGLVRSUDGLGHWWRYDORUHPDVVLPRDPPLVVLELOHFRQ´1XPHUR
GLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYHUVRGD]HURODSDUWHGHJOLDPPRUWDPHQWLHFFHGHQWHWDOH
YDORUHSRQGHUDWDFRQLOFRHIILFLHQWHGLGHWHUPLQD]LRQHGHOO·LQFLGHQ]DGHOOHSUHVWD]LRQLHIIHWWXDWHQRQLQUHJLPH
GLDFFUHGLWDPHQWRFRQYHQ]LRQHFRQLO6HUYL]LR6DQLWDULR1D]LRQDOHFRVWLWXLVFHSDUDPHWURGLULIHULPHQWRSHUOD
GHWHUPLQD]LRQHGHLPDJJLRULFRPSHQVLGDQRUPDOLWjHFRQRPLFDFDOFRODWLPROWLSOLFDQGRWDOHSDUWHHFFHGHQWHSHULO
UHODWLYRFRHIILFLHQWHSDULD
7DOH FRHIILFLHQWH q VWDWR FDOFRODWR VXOOD EDVH GHL GDWL GLFKLDUDWL GDL VRJJHWWL FKH KDQQR FRQWHPSRUDQHDPHQWH
YDORUL]]DWRODYDULDELOH´9DORUHGHLEHQLVWUXPHQWDOLPRELOLLQSURSULHWjµHODYDULDELOH´$PPRUWDPHQWLSHUEHQL
PRELOLVWUXPHQWDOLµ,QSDUWLFRODUHLOFRHIILFLHQWHqVWDWRLQGLYLGXDWRFRPHUDSSRUWRWUDODVRPPDGHLFRPSHQVL
SXQWXDOLFDOFRODWLDSSOLFDQGRDWDOLVRJJHWWLOHIXQ]LRQLGLFRPSHQVRFRQO·XWLOL]]RGHOODVRODYDULDELOH´9DORUHGHL
EHQLVWUXPHQWDOLPRELOLLQSURSULHWjµHODVRPPDGHJOL´$PPRUWDPHQWLSHUEHQLPRELOLVWUXPHQWDOLµ
,1&,'(1=$ '(//( $/75( &20321(17, 1(*$7,9( $/ 1(772 '(, &$121, ', /2&$=,21(
68,&203(16,
3HU RJQL FRQWULEXHQWH VL GHWHUPLQD LO YDORUH PDVVLPR DPPLVVLELOH SHU OD YDULDELOH ´$OWUH FRPSRQHQWL QHJDWLYH
QHWWHµ PROWLSOLFDQGR OD VRJOLD PDVVLPD GL QRUPDOLWj HFRQRPLFD GHOO·LQGLFDWRUH GLYLVD SHU L ´&RPSHQVL GD
FRQJUXLWjHGDQRUPDOLWjµ
1HOFDVRLQFXLLOYDORUHGLFKLDUDWRGHOOH´$OWUHFRPSRQHQWLQHJDWLYHQHWWHµVLSRVL]LRQLDOGLVRSUDGLGHWWRYDORUH
PDVVLPR DPPLVVLELOH OD SDUWH GLVSHVH HFFHGHQWH WDOH YDORUH SRQGHUDWD FRQ LO FRHIILFLHQWH GL GHWHUPLQD]LRQH
GHOO·LQFLGHQ]DGHOOHSUHVWD]LRQLHIIHWWXDWHQRQLQUHJLPHGLDFFUHGLWDPHQWRFRQYHQ]LRQHFRQLO6HUYL]LR6DQLWDULR
1D]LRQDOH FRVWLWXLVFH SDUDPHWUR GL ULIHULPHQWR SHU OD GHWHUPLQD]LRQH GHL PDJJLRUL FRPSHQVL GD QRUPDOLWj
HFRQRPLFDFDOFRODWLPROWLSOLFDQGRWDOHSDUWHHFFHGHQWHSHULOUHODWLYRFRHIILFLHQWH
7DOHFRHIILFLHQWHqVWDWRLQGLYLGXDWRGLVWLQWDPHQWHSHUJUXSSRRPRJHQHRFOXVWHUFRPHUDSSRUWRWUDODVRPPD
GHL FRPSHQVLSXQWXDOL FDOFRODWL DSSOLFDQGR D WXWWL L VRJJHWWL GHO FOXVWHU ODVSHFLILFD IXQ]LRQH GL FRPSHQVR FRQ
O·XWLOL]]RGHOOHVROHYDULDELOLFRQWDELOLGLVSHVDHODVRPPDGHOOHVWHVVHYDULDELOLFRQWDELOLGLVSHVDYHGLWDEHOOD
7DEHOOD&RHIILFLHQWLGLGHWHUPLQD]LRQHGHLPDJJLRULFRPSHQVLGDDSSOLFDUVLDOOHDOWUHFRPSRQHQWL
QHJDWLYHQHWWH
&OXVWHU
&RHIILFLHQWH
,QDSSOLFD]LRQHSHURJQLFRQWULEXHQWHLOFRHIILFLHQWHGLGHWHUPLQD]LRQHGHLPDJJLRULFRPSHQVLqRWWHQXWRFRPH
PHGLD SRQGHUDWD FRQ OH UHODWLYH SUREDELOLWj GL DSSDUWHQHQ]D GHL FRHIILFLHQWL LQGLYLGXDWL SHU RJQL JUXSSR
RPRJHQHR
/DYDULDELOHqULGHWHUPLQDWDLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDO1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
3HULOGHWWDJOLRYHGL´1RWDVXOFDOFRORGHOFRHIILFLHQWH&2())35,9µ
&RPSHQVLGDFRQJUXLWjHGDQRUPDOLWj &RPSHQVRSXQWXDOHGDDQDOLVLGHOODFRQJUXLWj0DJJLRUHFRPSHQVRGDQRUPDOLWjHFRQRPLFD
UHODWLYR DOO·LQGLFDWRUH ´,QFLGHQ]D GHJOL DPPRUWDPHQWL SHU EHQL VWUXPHQWDOL PRELOL ULVSHWWR DO YDORUH GHJOL VWHVVL EHQL VWUXPHQWDOL PRELOL
DPPRUWL]]DELOLµ
— 252 —
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
$66(1=$'(/9$/25('(,%(1,67580(17$/,
/·LQGLFDWRUHULVXOWDQRQQRUPDOHQHOFDVRGLFRQWULEXHQWLFKHKDQQRGLFKLDUDWRLQIRUPD]LRQLULIHULWHDXQRRSL
%HQL VWUXPHQWDOL QHL TXDGUL UHODWLYL DL GDWL VWUXWWXUDOL H QRQ KDQQR GLFKLDUDWR LO UHODWLYR 9DORUH GHL %HQL
6WUXPHQWDOLPRELOLWUDLGDWLFRQWDELOLYHGLWDEHOOD
,QWDOHFDVRVLGHWHUPLQDLO0DJJLRU&RPSHQVRGD1RUPDOLWj(FRQRPLFDUHODWLYRDOQXRYRLQGLFDWRUHRWWHQXWR
FRPHSURGRWWRWUDLO9DORUHGHL%HQL6WUXPHQWDOLGD1RUPDOLWj(FRQRPLFDHLO&RHIILFLHQWHGLGHWHUPLQD]LRQHGHO
PDJJLRUFRPSHQVRHLOFRHIILFLHQWHGLGHWHUPLQD]LRQHGHOO·LQFLGHQ]DGHOOHSUHVWD]LRQLHIIHWWXDWHQRQLQUHJLPH
GLDFFUHGLWDPHQWRFRQYHQ]LRQHFRQLO6HUYL]LR6DQLWDULR1D]LRQDOH
,O 9DORUH GHL %HQL 6WUXPHQWDOL GD 1RUPDOLWj (FRQRPLFD q SDUL DOOD PHGLD SRQGHUDWD SHU OD SUREDELOLWj GL
DSSDUWHQHQ]DDOFOXVWHUGHO9DORUHGHL%HQL6WUXPHQWDOLSHUDGGHWWRQRUPDOHGLULIHULPHQWRPROWLSOLFDWRSHULO
QXPHURGLDGGHWWLYHGLWDEHOOD
,O9DORUHGHL%HQL6WUXPHQWDOLSHUDGGHWWRQRUPDOHGLULIHULPHQWRqVWDWRLQGLYLGXDWRGLVWLQWDPHQWHSHUJUXSSR
RPRJHQHRFRQULIHULPHQWRDLVROLFRQWULEXHQWLFRQ9DORUHGHL%HQL6WUXPHQWDOLSHUDGGHWWRGLYHUVRGD]HUR,O
YDORUHGLULIHULPHQWRVFHOWRqLOQRYDQWDFLQTXHVLPRSHUFHQWLOHSHURJQLFOXVWHU
,O&RHIILFLHQWHGLGHWHUPLQD]LRQHGHOPDJJLRUFRPSHQVRVLRWWLHQHFRPHPHGLDSRQGHUDWDSHUODSUREDELOLWjGL
DSSDUWHQHQ]DDOFOXVWHUGHLVLQJROLFRHIILFLHQWLGLGHWHUPLQD]LRQHGHOPDJJLRUFRPSHQVRYHGLWDEHOOD
, VLQJROL FRHIILFLHQWL GL GHWHUPLQD]LRQH GHO PDJJLRU FRPSHQVR VRQR VWDWL GHWHUPLQDWL SHU RJQL FOXVWHU FRPH
UDSSRUWR WUD LO FRPSHQVR SXQWXDOH GHWHUPLQDWR DSSOLFDQGR O·DQDOLVL GHOOD FRQJUXLWj FRQ O·XWLOL]]R GHOOD VROD
YDULDELOH9DORUHGHL%HQL6WUXPHQWDOLPRELOLHLO9DORUHGHL%HQL6WUXPHQWDOLPRELOLGLFKLDUDWR
7DEHOOD²(OHQFRYDULDELOL%HQLVWUXPHQWDOL
'HVFUL]LRQH%HQLVWUXPHQWDOL
(PDWRORJLDHHPDWRFKLPLFD1XPHUR
(PDWRORJLDHHPDWRFKLPLFDGLFXLLQFRPRGDWRG
XVR
%DWWHULRORJLDYLURORJLDHXULQH1XPHUR
%DWWHULRORJLDYLURORJLDHXULQHGLFXLLQFRPRGDWRG
XVR
,PPXQRGLDJQRVWLFD1XPHUR
,PPXQRGLDJQRVWLFDGLFXLLQFRPRGDWRG
XVR
7DEHOOD²9DORUHGHL%HQL6WUXPHQWDOLSHUDGGHWWRQRUPDOHGLULIHULPHQWR
&OXVWHU
ƒSHUFHQWLOH
6LYHGDLO6XE$OOHJDWR&²)RUPXOHGHJOLLQGLFDWRUL
, FRHIILFLHQWL VRQR VWDWL HODERUDWL FRQ ULIHULPHQWR DL VROL FRQWULEXHQWL FKH KDQQR YDORUL]]DWR OD YDULDELOH 9DORUH GHL %HQL 6WUXPHQWDOL
PRELOL
— 253 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
7DEHOOD&RHIILFLHQWLGLGHWHUPLQD]LRQHGHLPDJJLRULFRPSHQVLGDDSSOLFDUVLDO9DORUHGHL%HQL
6WUXPHQWDOLGD1RUPDOLWj(FRQRPLFD
&OXVWHU
&RHIILFLHQWH
$1$/,6,'(//$&21*58,7­
3HUFLDVFXQFRQWULEXHQWHYLHQHFDOFRODWRSHURJQLJUXSSRRPRJHQHRLO´FRPSHQVRSXQWXDOHGLFOXVWHUµFRPH
VRPPDGHLSURGRWWLIUDOHYDULDELOLLQGLYLGXDWHDLILQLGHOODGHILQL]LRQHGHOODIXQ]LRQHGLFRPSHQVRHGLUHODWLYL
FRHIILFLHQWL
3HUWHQHUFRQWRGHOODYDULDELOLWjOHJDWDDOODVWLPDGHOFRPSHQVRSXQWXDOHGHOVLQJRORFRQWULEXHQWHYLHQHFDOFRODWR
SHURJQLJUXSSRRPRJHQHRO·LQWHUYDOORGLFRQILGHQ]DDOOLYHOORGHO,OOLPLWHLQIHULRUHGLWDOHLQWHUYDOORGL
FRQILGHQ]DFRVWLWXLVFHLO´FRPSHQVRPLQLPRGLFOXVWHUµ
/DPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHL´FRPSHQVLSXQWXDOLGLFOXVWHUµGHILQLWLSHULO
FRQWULEXHQWHLQUHOD]LRQHDFLDVFXQJUXSSRRPRJHQHRFRVWLWXLVFHLO´FRPSHQVRSXQWXDOHµGHOFRQWULEXHQWH
/DPHGLDSRQGHUDWDFRQOHUHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DGHL´FRPSHQVLPLQLPLGLFOXVWHUµGHILQLWLSHULO
FRQWULEXHQWHLQUHOD]LRQHDFLDVFXQJUXSSRRPRJHQHRFRVWLWXLVFHLO´FRPSHQVRPLQLPRµGHOFRQWULEXHQWH
,Q TXHVWR VWXGLR VL q WHQXWR FRQWR GHOOH DWWLYLWj LQ DFFUHGLWDPHQWRFRQYHQ]LRQH FRQ LO 6HUYL]LR 6DQLWDULR
1D]LRQDOH GL FRQVHJXHQ]D LO FRPSHQVR SXQWXDOH H LO FRPSHQVR PLQLPR VRQR FDOFRODWL SRQGHUDQGR WXWWH OH
YDULDELOL LQVHULWH QHOOD IXQ]LRQH GL FRPSHQVR FRQ XQ FRHIILFLHQWH GL GHWHUPLQD]LRQH GHOO·LQFLGHQ]D GHOOH
SUHVWD]LRQLHIIHWWXDWHQRQLQUHJLPHGLDFFUHGLWDPHQWRFRQYHQ]LRQHFRQLO6HUYL]LR6DQLWDULR1D]LRQDOH
$L FRPSHQVL VXGGHWWL YLHQH VRPPDWR LO 9DORUH GHOOH SUHVWD]LRQL HURJDWH D FDULFR GHO 661 LQFOXVR LO WLFNHW
$QDOLVLGLODERUDWRULR9DORUHFRQWDELOHGLFKLDUDWRGDOFRQWULEXHQWH
3HU DVVLFXUDUH FKH LO FRPSHQVR SXQWXDOH H LO FRPSHQVR PLQLPR FRVu GHWHUPLQDWL QRQ ULVXOWLQR VXSHULRUL DL
ULVSHWWLYLFRPSHQVLSXQWXDOLHFRPSHQVLPLQLPLVWLPDWLSHUO·LQWHUDDWWLYLWjVYROWDVLSURFHGHFRPHGLVHJXLWR
LQGLFDWR
ˆ
1HOODWHUPLQRORJLDVWDWLVWLFDSHU´LQWHUYDOORGLFRQILGHQ]DµVLLQWHQGHXQLQWHUYDOORFHQWUDWRVXOFRPSHQVRSXQWXDOH y HGHOLPLWDWRGD
GXH HVWUHPL XQR LQIHULRUH H O·DOWUR VXSHULRUH FKH LQFOXGH FRQ XQ OLYHOOR GL SUREDELOLWj SUHILVVDWR LO YDORUH DWWHVR GHO FRPSHQVR GHO
FRQWULEXHQWH
,O OLYHOOR GL SUREDELOLWj SUHILVVDWR R OLYHOOR GL ILGXFLD YLHQH JHQHUDOPHQWH LQGLFDWR FRQ OD QRWD]LRQH ´ ơµ GRYH ơ UDSSUHVHQWD OD
SUREDELOLWj FKH O·LQWHUYDOOR GL FRQILGHQ]D QRQ FRQWHQJD LO YDORUH DWWHVR GHO FRPSHQVR GHO FRQWULEXHQWH 3HU XQ OLYHOOR GL ILGXFLD SDUL DO
LOYDORUHFRUULVSRQGHQWHGLơqSDULD
,QGLFDQGR FRQ y
ˆ LO ´FRPSHQVR SXQWXDOH GL FOXVWHUµ GHO JHQHULFR FRQWULEXHQWH LO FRUULVSRQGHQWH ´FRPSHQVR PLQLPR GL FOXVWHUµ q
RWWHQXWRDWWUDYHUVRODVHJXHQWHIRUPXOD
yˆ - 3,92 * s
'
xCx GRYH
• C q OD PDWULFH LQYHUVD GHOOD PDWULFH GDWD GDOOH VRPPH GHL TXDGUDWL H GHL SURGRWWL LQFURFLDWL GHOOH YDULDELOL LQGLSHQGHQWL
RSSRUWXQDPHQWHSHVDWHSHUFRQWUROODUHO·HYHQWXDOHSUHVHQ]DGLHWHURVFKHGDVWLFLWj
• s qODUDGLFHTXDGUDWDGHO0HDQ6TXDUH(UURU506(
• x qLOYHWWRUHGHOOHYDULDELOLLQGLSHQGHQWLRVVHUYDWHSHULOJHQHULFRFRQWULEXHQWH
• qLOYDORUHGLULIHULPHQWRDOOLYHOORGLSUREDELOLWjSUHVFHOWRGHOODGLVWULEX]LRQHWGL6WXGHQWFKHDVLQWRWLFDPHQWHDSSURVVLPDXQD
GLVWULEX]LRQHQRUPDOHVWDQGDUGL]]DWD
,YDORULUHODWLYLDOODPDWULFH´ C µHDOYDORUHGHO´506(µGLFLDVFXQFOXVWHUYHQJRQRULSRUWDWLQHOO·$OOHJDWR
3HULOGHWWDJOLRGLWDOHFRHIILFLHQWHYHGL´1RWDVXOFDOFRORGHOFRHIILFLHQWH&2())35,9µ
3HULOGHWWDJOLRYHGL´1RWDVXOFDOFRORGHOFRHIILFLHQWH&2())35,9µ
34
,O FRPSHQVR SXQWXDOH H LO FRPSHQVR PLQLPR VWLPDWL SHU O·LQWHUD DWWLYLWj VYROWD VRQR FDOFRODWL VHQ]D SRQGHUDUH WXWWH OH YDULDELOL GHOOD
IXQ]LRQH GL FRPSHQVR SHU LO FRHIILFLHQWH GL GHWHUPLQD]LRQH GHOO·LQFLGHQ]D GHOOH SUHVWD]LRQL HIIHWWXDWH QRQ LQ UHJLPH GL
DFFUHGLWDPHQWRFRQYHQ]LRQHFRQLO6HUYL]LR6DQLWDULR1D]LRQDOH
— 254 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
‡,OFRPSHQVRSXQWXDOHqLOPLQRUYDORUHWUDFRPSHQVRSXQWXDOHVWLPDWRSHUO·LQWHUDDWWLYLWjVYROWDHFRPSHQVR
SXQWXDOHFDOFRODWRFRPHVRSUDHVSOLFLWDWR
‡ ,O FRPSHQVRPLQLPR q LO PLQRU YDORUH WUD FRPSHQVR PLQLPRVWLPDWRSHU O·LQWHUD DWWLYLWj VYROWD H FRPSHQVR
PLQLPRFDOFRODWRFRPHVRSUDHVSOLFLWDWR
,OFRPSHQVRSXQWXDOHHGLOFRPSHQVRPLQLPRQRQGHYRQRFRPXQTXHHVVHUHLQIHULRULDO9DORUHGHOOHSUHVWD]LRQL
HURJDWHDFDULFRGHO661LQFOXVRLOWLFNHW$QDOLVLGLODERUDWRULR9DORUHFRQWDELOHGLFKLDUDWRGDOFRQWULEXHQWH
$OFRPSHQVRSXQWXDOHHDOFRPSHQVRPLQLPRVWLPDWLFRQO·DQDOLVLGHOODFRQJUXLWjYHQJRQRDJJLXQWLJOLHYHQWXDOL
PDJJLRULFRPSHQVLGHULYDQWLGDOO·DSSOLFD]LRQHGHOO·DQDOLVLGHOODQRUPDOLWjHFRQRPLFD
1HO6XE$OOHJDWR+YHQJRQRULSRUWDWHOHYDULDELOLHGLULVSHWWLYLFRHIILFLHQWLGHOOH´IXQ]LRQLGLFRPSHQVRµ
/HYDULDELOLQXPHULFKHULIHULWHDGLPSRUWLLQHXURVRQRDUURWRQGDWHDOYDORUHLQWHUR
— 255 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
68%$//(*$7,
68%$//(*$72$²'(6&5,=,21('(,*5833,202*(1(,
,JUXSSLRPRJHQHLVRQRVWDWLLQGLYLGXDWLVXOODEDVHGHLVHJXHQWLIDWWRUL
−
−
WLSRORJLD GHOOD FOLHQWHOD YDORUH GHOOH SUHVWD]LRQL HURJDWH D FDULFR GHO 6HUYL]LR 6DQLWDULR 1D]LRQDOH 661 LQFOXVR LO WLFNHW H FDUDWWHUL]]D]LRQH FRPH ODERUDWRULR GL DQDOLVL LQ UHJLPH GL DFFUHGLWDPHQWR DQFKH
SURYYLVRULRFRQYHQ]LRQHFRQLO661
ULOHYDQ]DGHOFRPPLWWHQWHSULQFLSDOH
/D WLSRORJLD GHOOD FOLHQWHOD LO YDORUH GHOOH SUHVWD]LRQL HURJDWH D FDULFR GHO 661 LQFOXVR LO WLFNHW H OD
FDUDWWHUL]]D]LRQHFRPHODERUDWRULRGLDQDOLVLLQUHJLPHGLDFFUHGLWDPHQWRDQFKHSURYYLVRULRFRQYHQ]LRQHFRQLO
661 KDQQR SRUWDWR D GLVWLQJXHUH L FRQWULEXHQWL FKH VYROJRQR SUHYDOHQWHPHQWH DWWLYLWj LQ UHJLPH GL
DFFUHGLWDPHQWRDQFKHSURYYLVRULRFRQYHQ]LRQHFRQLO661FOXVWHU
/D ULOHYDQ]D GHO FRPPLWWHQWH SULQFLSDOH KD FRQVHQWLWR GL GLVWLQJXHUH WUD FRORUR FKH VYROJRQR
SUHYDOHQWHPHQWH DWWLYLWj GLYHUVH GD TXHOOH HIIHWWXDWH LQ UHJLPH GL DFFUHGLWDPHQWR DQFKH
SURYYLVRULRFRQYHQ]LRQH FRQ LO 661 L FRQWULEXHQWL FKH RSHUDQR LQ ODUJD SUHYDOHQ]D SHU LO FRPPLWWHQWH
SULQFLSDOHFOXVWHUGDFRORURFKHVLULYROJRQRDGXQDSOXUDOLWjGLFRPPLWWHQWLFOXVWHU
1HOOH VXFFHVVLYH GHVFUL]LRQL GHL FOXVWHU HPHUVL GDOO·DQDOLVL VDOYR VHJQDOD]LRQH FRQWUDULD O·LQGLFD]LRQH GL YDORUL
QXPHULFLULJXDUGDYDORULPHGL
&/867(5&2175,%8(17,&+(23(5$123(5,/&200,77(17(35,1&,3$/((&+(121692/*212
$1&+(
,1
35(9$/(1=$
$77,9,7­
,1
5(*,0(
',
$&&5(',7$0(172
35299,625,2&219(1=,21(&21,/661
180(526,7­
,O FOXVWHU VL FRPSRQH GL FRQWULEXHQWL FKH RSHUDQR SHU LO FRPPLWWHQWH SULQFLSDOH GHL FRPSHQVL H FKH
RULJLQDQRODWRWDOLWjGHLSURSULFRPSHQVLGDDWWLYLWjGLYHUVHGDTXHOOHVYROWHLQUHJLPHGLDFFUHGLWDPHQWRDQFKH
SURYYLVRULRFRQYHQ]LRQHFRQLO661
'DVHJQDODUHDWDOSURSRVLWRFKHODFRPPLWWHQ]DqUDSSUHVHQWDWDSULQFLSDOPHQWHGDODERUDWRULGLDQDOLVLIRQWHGHO
GHL FRPSHQVL SHU LO GHL VRJJHWWL H GD VWUXWWXUH VDQLWDULH SULYDWH GHL FRPSHQVL SHU LO GHL
VRJJHWWL
6L HYLGHQ]LD FKH ROWUH DOOR VYROJLPHQWR GL DWWLYLWj GL EDVH ELRFKLPLFD FOLQLFD HPDWRORJLD H FRDJXOD]LRQH
LPPXQRPHWULD PLFURELRORJLD GDOOH TXDOL L FRQWULEXHQWL GHO FOXVWHU GHULYDQR LO GHL FRPSHQVL LO GHL
VRJJHWWLVLRFFXSDGLLVWRSDWRORJLDGHULYDQGRQHLOGHLFRPSHQVLHGXQDOWURGHLFRPSRQHQWLLOFOXVWHU
RULJLQDLOGHLSURSULFRPSHQVLGDDQDOLVLQHOFDPSRGHOODJHQHWLFD
,FRQWULEXHQWLGHOFOXVWHUFKHRSHUDQRTXDVLHVFOXVLYDPHQWHDWLWRORLQGLYLGXDOHQHOGHLFDVLGLFKLDUDQRGL
GLVSRUUH GL PT GL VXSHUILFLH GHVWLQDWD HVFOXVLYDPHQWH D ODERUDWRULR /D SUHVHQ]D GL SHUVRQDOH GLSHQGHQWH VL
ULVFRQWUDQHOGHLFDVL
&/867(5 &2175,%8(17, &+( 23(5$12 3(5 81$ 3/85$/,7­ ', &200,77(17, ( &+( 121
692/*212 ,1 35(9$/(1=$ $77,9,7­ ,1 5(*,0( ', $&&5(',7$0(172 $1&+(
35299,625,2&219(1=,21(&21,/661
180(526,7­
4XHVWR FOXVWHU q IRUPDWR GD FRQWULEXHQWL FKH RSHUDQR SHU XQD SOXUDOLWj GL FRPPLWWHQWL HG RULJLQDQR OD TXDVL
WRWDOLWj GHL SURSUL FRPSHQVL GD DWWLYLWj GLYHUVH GD TXHOOH VYROWH LQ UHJLPH GL DFFUHGLWDPHQWR DQFKH
SURYYLVRULRFRQYHQ]LRQHFRQLO661
7UD OH DWWLYLWj VYROWH VL VHJQDOD TXHOOD GL ODERUDWRULR GL DQDOLVL GL EDVH ELRFKLPLFD FOLQLFD HPDWRORJLD H
FRDJXOD]LRQH LPPXQRPHWULD PLFURELRORJLD IRQWH GHO GHL FRPSHQVL 'D VHJQDODUH DQFKH FKH LO GHL
— 256 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
FRPSRQHQWLLOFOXVWHURWWLHQHO·GHLFRPSHQVLGDDWWLYLWjGLDQDOLVLQHOO·DPELWRGHOO·LVWRSDWRORJLDHFKHLO
GHLVRJJHWWLVLRFFXSDGLYLURORJLDGHULYDQGRQHLOGHLFRPSHQVL
7DOLFRQWULEXHQWLFKHRSHUDQRLQODUJDSUHYDOHQ]DDWLWRORLQGLYLGXDOHQHOGHLFDVLGLFKLDUDQRGLGLVSRUUHGL
PTGLVXSHUILFLHGHVWLQDWDHVFOXVLYDPHQWHDODERUDWRULR1HOO·DWWLYLWjqJHQHUDOPHQWHLPSLHJDWRXQDGGHWWROD
SUHVHQ]DGLSHUVRQDOHGLSHQGHQWHVLULVFRQWUDQHOGHLFDVL
/DGRWD]LRQHVWUXPHQWDOHULVXOWDFRPSRVWDGDDSSDUHFFKLSHUHPDWRORJLDHGHPDWRFKLPLFDQHOGHLFDVL
DSSDUHFFKLSHUEDWWHULRORJLDYLURORJLDHXULQHQHOGHLFDVLHDSSDUHFFKLSHULPPXQRGLDJQRVWLFDQHO
GHLFDVL
&/867(5 ² &2175,%8(17, &+( 692/*212 35(9$/(17(0(17( $77,9,7­ ,1 5(*,0( ',
$&&5(',7$0(172$1&+(35299,625,2&219(1=,21(&21,/661
180(526,7­
,VRJJHWWLDSSDUWHQHQWLDOFOXVWHUGLFKLDUDQRGLRSHUDUHFRPHODERUDWRULRGLDQDOLVLLQUHJLPHGLDFFUHGLWDPHQWR
DQFKH SURYYLVRULRFRQYHQ]LRQH FRQ LO 661 H FRHUHQWHPHQWH VYROJRQR LQ SUHYDOHQ]D DWWLYLWj LQ UHJLPH GL
DFFUHGLWDPHQWRDQFKHSURYYLVRULRFRQYHQ]LRQHFRQLO661GDOOHTXDOLRWWHQJRQRLOGHLSURSULFRPSHQVL
/·DWWLYLWj VYROWD LQ PDQLHUD TXDVL HVFOXVLYD GHL FRPSHQVL q TXHOOD GL ODERUDWRULR GL DQDOLVL GL EDVH
ELRFKLPLFDFOLQLFDHPDWRORJLDHFRDJXOD]LRQHLPPXQRPHWULDPLFURELRORJLD
7DOLFRQWULEXHQWLFKHRSHUDQRLQSUHYDOHQ]DDWLWRORLQGLYLGXDOHHVHUFLWDQRO·DWWLYLWjLQODERUDWRULODFXLVXSHUILFLH
q SDUL D PT 1HOO·DWWLYLWj VRQR JHQHUDOPHQWH LPSLHJDWL DGGHWWL OD SUHVHQ]D GL SHUVRQDOH GLSHQGHQWH VL
ULVFRQWUDQHOO·GHLFDVL
/D GRWD]LRQHVWUXPHQWDOH ULVXOWD FRPSRVWD GD R DSSDUHFFKL SHU HPDWRORJLD HG HPDWRFKLPLFD QHOO·GHL
FDVLDSSDUHFFKLSHUEDWWHULRORJLDYLURORJLDHXULQHQHOGHLFDVLHDSSDUHFFKLSHULPPXQRGLDJQRVWLFDQHO
GHLFDVL
— 257 —
3UHVHQ]DGHOYDORUHGHOOHSUHVWD]LRQLHURJDWHDFDULFRGHO661
&/867(5
— 258 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
ULPERUVRLQFOXVRLOUHODWLYRWLFNHW$WWLYLWjLQUHJLPHGLDFFUHGLWDPHQWRDQFKHSURYYLVRULRFRQYHQ]LRQHFRQLO661SHUODTXDOHQRQVLULFKLHGHLOULPERUVRFRVLGGHWWDIUDQFKLJLDq
PDJJLRUHRXJXDOHGLDOWULPHQWLqSDULD
3UHVHQ]DGHOYDORUHGHOOHSUHVWD]LRQLHURJDWHDFDULFRGHO661 VH7LSRORJLDGHOODFOLHQWHOD$WWLYLWjLQUHJLPHGLDFFUHGLWDPHQWRDQFKHSURYYLVRULRFRQYHQ]LRQHFRQLO661SHU
ODTXDOHVLULFKLHGHLOULPERUVRLQFOXVRLOUHODWLYRWLFNHW$WWLYLWjLQUHJLPHGLDFFUHGLWDPHQWRDQFKHSURYYLVRULRFRQYHQ]LRQHFRQLO661SHUODTXDOHQRQVLULFKLHGHLOULPERUVR
FRVLGGHWWDIUDQFKLJLDqPDJJLRUHGLHVH9DORUHGHOOHSUHVWD]LRQLHURJDWHDFDULFRGHO661LQFOXVRLOWLFNHW$QDOLVLGLODERUDWRULR9DORUHFRQWDELOH$QDOLVLGLODERUDWRULR9DORUHD
WDULIIDLQWHUDQRPLQDOHqPDJJLRUHGLDOWULPHQWLYDOH
$WWLYLWj LQUHJLPHGLDFFUHGLWDPHQWR VH7LSRORJLDGHOODFOLHQWHOD$WWLYLWjLQUHJLPHGLDFFUHGLWDPHQWRDQFKHSURYYLVRULRFRQYHQ]LRQHFRQLO661SHUODTXDOHVLULFKLHGHLO
DOWULPHQWLYDOH
&RPPLWWHQWHSULQFLSDOH VHOD1XPHURVLWjGHLFRPPLWWHQWL3HUFHQWXDOHGHLFRPSHQVLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOHLQGLFDUHVRORVHVXSHULRUHDqPDJJLRUHGL
/DERUDWRULRGLDQDOLVLLQFRQYHQ]LRQHFRQLO661 VH/DERUDWRULRGLDQDOLVLLQUHJLPHGLDFFUHGLWDPHQWRDQFKHSURYYLVRULRFRQYHQ]LRQHFRQLO661qFRPSLODWRLQWXWWHOHXQLWj
ORFDOLGHVWLQDWHDOO·HVHUFL]LRGHOO·DWWLYLWjFRQLO&RPXQHFRPSLODWRHVH7LSRORJLDGHOODFOLHQWHOD$WWLYLWjLQUHJLPHGLDFFUHGLWDPHQWRDQFKHSURYYLVRULRFRQYHQ]LRQHFRQLO661SHUOD
TXDOH VL ULFKLHGH LO ULPERUVR LQFOXVR LO UHODWLYR WLFNHW $WWLYLWj LQ UHJLPH GL DFFUHGLWDPHQWR DQFKH SURYYLVRULR FRQYHQ]LRQH FRQ LO 661 SHU OD TXDOH QRQ VL ULFKLHGH LO ULPERUVR
FRVLGGHWWDIUDQFKLJLDqPDJJLRUHGLDOWULPHQWLYDOH
&RPPLWWHQWHSULQFLSDOH
$WWLYLWjLQUHJLPHGLDFFUHGLWDPHQWR
&/867(5
/DERUDWRULRGLDQDOLVLLQFRQYHQ]LRQHFRQLO661
&/867(5
9$5,$%,/(
1XPHURVLWjGHLFRPPLWWHQWL3HUFHQWXDOHGHLFRPSHQVLSURYHQLHQWLGDOFRPPLWWHQWHSULQFLSDOH
LQGLFDUHVRORVHVXSHULRUHD
,QWHUFHWWD
'RYH
68%$//(*$72%3(6,'(//()81=,21,',6&5,0,1$17,
30-12-2014
Serie generale - n. 301
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
68%$//(*$72&²)2508/('(*/,,1',&$725,
'L VHJXLWR VRQR ULSRUWDWH OH IRUPXOH GHJOL LQGLFDWRUL HFRQRPLFRFRQWDELOL XWLOL]]DWL LQ FRVWUX]LRQH HR
DSSOLFD]LRQHGHOORVWXGLRGLVHWWRUH
•
,QFLGHQ]D GHJOL DPPRUWDPHQWL SHU EHQL VWUXPHQWDOL PRELOL ULVSHWWR DO YDORUH GHJOL VWHVVL EHQL
VWUXPHQWDOL PRELOL DPPRUWL]]DELOL $PPRUWDPHQWL SHU EHQL PRELOL VWUXPHQWDOL DO QHWWR GHL EHQL GL
FRVWRXQLWDULRQRQVXSHULRUHDHXUR9DORUHGHLEHQLVWUXPHQWDOLPRELOLLQSURSULHWjDOQHWWRGHL
EHQLGLFRVWRXQLWDULRQRQVXSHULRUHDHXUR
•
•
•
•
•
,QFLGHQ]D GHOOH DOWUH FRPSRQHQWL QHJDWLYH DO QHWWR GHL FDQRQL GL ORFD]LRQH VXL FRPSHQVL $OWUH
FRPSRQHQWLQHJDWLYHQHWWH&RPSHQVLGLFKLDUDWL
,QFLGHQ]D GHOOH VSHVH VXL FRPSHQVL 6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH 6SHVH SHU
SUHVWD]LRQL GL FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL
GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H DUWLVWLFD &RQVXPL $OWUH VSHVH $OWUH FRPSRQHQWL
QHJDWLYHQHWWH&RPSHQVLGLFKLDUDWL
,QGLFH GL FRSHUWXUD GHO FRVWR SHU LO JRGLPHQWR GL EHQL GL WHU]L H GHJOL DPPRUWDPHQWL 0DUJLQH
QHWWR&DQRQL GL ORFD]LRQH ILQDQ]LDULD H QRQ ILQDQ]LDULD UHODWLYL D EHQL LPPRELOL &DQRQL GL ORFD]LRQH
ILQDQ]LDULDHQRQILQDQ]LDULDUHODWLYLDEHQLVWUXPHQWDOLPRELOL$PPRUWDPHQWL
0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGLVSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWR 0DUJLQH3URIHVVLRQLVWLWLWRODULGHOORVWXGLR
5HQGLPHQWR ORUGR SHU DGGHWWR LQ SUHVHQ]D GL VSHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH R
DVVLPLODWR 9DORUHFUHDWRGDOORVWXGLRSURIHVVLRQDOH$GGHWWL
/DYDULDELOHqULGHWHUPLQDWDLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
1HOODVRODIDVHGLFRVWUX]LRQHL&RPSHQVLGLFKLDUDWLLQFOXGRQRDQFKHO·$GHJXDPHQWRGDVWXGLGLVHWWRUH
,QIDVHGLDSSOLFD]LRQHGHOO·LQGLFDWRUHGLQRUPDOLWjHFRQRPLFD´,QFLGHQ]DGHOOHDOWUHFRPSRQHQWLQHJDWLYHDOQHWWRGHLFDQRQLGLORFD]LRQH
VXLFRPSHQVLµYHQJRQRXWLOL]]DWLL
&RPSHQVLGDFRQJUXLWjHGDQRUPDOLWj &RPSHQVRSXQWXDOHGDDQDOLVLGHOODFRQJUXLWj0DJJLRUHFRPSHQVRGDQRUPDOLWjHFRQRPLFD
UHODWLYR DOO·LQGLFDWRUH ´,QFLGHQ]D GHJOL DPPRUWDPHQWL SHU EHQL VWUXPHQWDOL PRELOL ULVSHWWR DO YDORUH GHJOL VWHVVL EHQL VWUXPHQWDOL PRELOL
DPPRUWL]]DELOLµ
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHLSURIHVVLRQLVWLWLWRODULGHOORVWXGLR
3URIHVVLRQLVWLWLWRODULGHOORVWXGLR 7LWRODUH
SURIHVVLRQLVWDFKHRSHUDLQIRUPD
LQGLYLGXDOH
3URIHVVLRQLVWLWLWRODULGHOORVWXGLR 1XPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQH
HVHUFL]LRFROOHWWLYRGHOO·DWWLYLWj
SURIHVVLRQDOH
,OWLWRODUHqSDULD
,OQXPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHqSDULDOODUHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
,OWLWRODUHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
6HLSURIHVVLRQLVWLWLWRODULGHOORVWXGLRVRQRLQIHULRUL D´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVRDOORUDL
SURIHVVLRQLVWLWLWRODULGHOORVWXGLRVRQRSDULDOYDORUHPDVVLPRWUDSURIHVVLRQLVWLWLWRODULGHOORVWXGLRH7LWRODUH²1XPHURGLSHQGHQWL
,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHJOLDGGHWWL
7LWRODUH1XPHURGLSHQGHQWL
$GGHWWL SURIHVVLRQLVWDFKHRSHUDLQIRUPD
LQGLYLGXDOH
1XPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH 1XPHUR
$GGHWWL GLSHQGHQWL
HVHUFL]LRFROOHWWLYRGHOO·DWWLYLWj
SURIHVVLRQDOH
,OWLWRODUHqSDULD,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
,OQXPHURVRFLRDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHqSDULDOODUHODWLYDSHUFHQWXDOHGLODYRURSUHVWDWRGLYLVR
,OWLWRODUHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
*OL$GGHWWLQRQSRVVRQRHVVHUHLQIHULRULD´1XPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDµGLYLVR
— 259 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
5HVD RUDULDSHU DGGHWWR &RPSHQVL GLFKLDUDWL ² 6SHVH SHU SUHVWD]LRQL GL FROODERUD]LRQH FRRUGLQDWDH
FRQWLQXDWLYD ² &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH DIIHUHQWL O·DWWLYLWj SURIHVVLRQDOH H
DUWLVWLFD1XPHURDGGHWWL
'RYH
•
•
$PPRUWDPHQWLSHUEHQLPRELOLVWUXPHQWDOLDOQHWWRGHLEHQLGLFRVWRXQLWDULRQRQVXSHULRUHD
HXUR $PPRUWDPHQWLSHUEHQLPRELOLVWUXPHQWDOL6SHVHSHUO·DFTXLVWRGLEHQLVWUXPHQWDOLGL
FRVWRXQLWDULRQRQVXSHULRUHDHXUR
•
$OWUHFRPSRQHQWLQHJDWLYHQHWWH $OWUHFRPSRQHQWLQHJDWLYH²&DQRQLGLORFD]LRQHILQDQ]LDULDHQRQ
ILQDQ]LDULD UHODWLYL D EHQL LPPRELOL ² &DQRQL GL ORFD]LRQH ILQDQ]LDULD H QRQ ILQDQ]LDULD UHODWLYL D EHQL
VWUXPHQWDOLPRELOL;
•
0DUJLQH 9DORUHFUHDWRGDOORVWXGLRSURIHVVLRQDOH²6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH
•
0DUJLQH QHWWR 0DUJLQH ² >6RJOLD PLQLPD GL FRHUHQ]D GHO PDUJLQH GHO SURIHVVLRQLVWD41 3URIHVVLRQLVWLWLWRODULGHOORVWXGLR@
•
9DORUH FUHDWR GDOOR VWXGLR SURIHVVLRQDOH &RPSHQVL GLFKLDUDWL ² 6SHVH SHU SUHVWD]LRQL GL
FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD ² &RPSHQVL FRUULVSRVWL D WHU]L SHU SUHVWD]LRQL GLUHWWDPHQWH
DIIHUHQWLO·DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD²&RQVXPL²$OWUHVSHVH²$OWUHFRPSRQHQWLQHJDWLYHQHWWH
•
9DORUHGHLEHQLVWUXPHQWDOLPRELOLLQSURSULHWjDOQHWWRGHLEHQLGLFRVWRXQLWDULRQRQVXSHULRUH
DHXUR 9DORUHGHLEHQLVWUXPHQWDOLPRELOL9DORUHUHODWLYRDEHQLDFTXLVLWLLQGLSHQGHQ]DGL
FRQWUDWWLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULD6SHVHSHUO·DFTXLVWRGLEHQLVWUXPHQWDOLGLFRVWR
XQLWDULRQRQVXSHULRUHDHXUR
'LVHJXLWRYLHQHULSRUWDWRLOFDOFRORGHOQXPHURGLDGGHWWL
1XPHURDGGHWWL ´)DWWRUHFRUUHWWLYRLQGLYLGXDOHµ1XPHURGLSHQGHQWL
SURIHVVLRQLVWDFKH RSHUDLQIRUPD
LQGLYLGXDOH
1XPHURDGGHWWL 1XPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH ´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ HVHUFL]LRFROOHWWLYR 1XPHURGLSHQGHQWL
GHOO·DWWLYLWj
SURIHVVLRQDOH
/DGHILQL]LRQHGHO´)DWWRUHFRUUHWWLYRLQGLYLGXDOHµHGHO´)DWWRUHFRUUHWWLYRDVVRFLD]LRQLµqULSRUWDWDQHOOD´1RWDDOODYDULDELOHGL
UHJUHVVLRQH2UHGHGLFDWHDOO·DWWLYLWjµ,OQXPHURGLSHQGHQWLqSDULDOQXPHURGHOOHJLRUQDWHUHWULEXLWHGLYLVR
/DVRJOLDPLQLPDGLFRHUHQ]DGHOPDUJLQHGHOSURIHVVLRQLVWDqODVRJOLDPLQLPDGHOO·LQGLFDWRUH´0DUJLQHGHOSURIHVVLRQLVWDLQDVVHQ]DGL
VSHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWHRDVVLPLODWRµDSSOLFDWDDOO·LQWHUDSODWHDGHLFRQWULEXHQWL
— 260 —
— 261 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWR
LQPLJOLDLDGLHXUR
,QGLFDWRUH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
0RGDOLWjGL
GLVWULEX]LRQH
7XWWLLVRJJHWWL
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLDGL
HXUR
5HVDRUDULDSHUDGGHWWR
7XWWLLVRJJHWWL
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFDWRUH
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSHULOFRPPLWWHQWHSULQFLSDOHHFKHQRQVYROJRQRLQSUHYDOHQ]DDWWLYLWjLQUHJLPHGLDFFUHGLWDPHQWRDQFKH
SURYYLVRULRFRQYHQ]LRQHFRQLOVVQ
68%$//(*$72'²',675,%8=,21,9(17,/,&+(,1',&$725,',&2(5(1=$
30-12-2014
Serie generale - n. 301
— 262 —
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
,QGLFDWRUH
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWR
LQPLJOLDLDGLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
,QGLFDWRUH
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWLHFKHQRQVYROJRQRLQSUHYDOHQ]DDWWLYLWjLQUHJLPHGLDFFUHGLWDPHQWRDQFKH
SURYYLVRULRFRQYHQ]LRQHFRQLOVVQ
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
— 263 —
,QGLFDWRUH
,QFLGHQ]DGHOOHVSHVH
VXLFRPSHQVL
0DUJLQHGHO
SURIHVVLRQLVWDLQ
DVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
GLSHQGHQWHRDVVLPLODWR
LQPLJOLDLDGLHXUR
,QGLFDWRUH
3URIHVVLRQLVWL
VHQ]DIRU]D
ODYRUR
3URIHVVLRQLVWL
FRQIRU]DODYRUR
*UXSSR
WHUULWRULDOH
*UXSSR
WHUULWRULDOH
0RGDOLWjGL
GLVWULEX]LRQH
0RGDOLWjGL
GLVWULEX]LRQH
5HVDRUDULDSHUDGGHWWR 7XWWLLVRJJHWWL
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]DGL
VSHVHSHUSUHVWD]LRQLGL
7XWWLLVRJJHWWL
ODYRURGLSHQGHQWHR
DVVLPLODWRLQPLJOLDLD
GLHXUR
0RGDOLWjGL
GLVWULEX]LRQH
,QGLFHGLFRSHUWXUDGHO
FRVWRSHULOJRGLPHQWR
7XWWLLVRJJHWWL
GLEHQLGLWHU]LHGHJOL
DPPRUWDPHQWL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHVYROJRQRSUHYDOHQWHPHQWHDWWLYLWjLQUHJLPHGLDFFUHGLWDPHQWRDQFKHSURYYLVRULRFRQYHQ]LRQHFRQLOVVQ
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
68%$//(*$72(9$/25,62*/,$3(5*/,,1',&$725,',&2(5(1=$
5HQGLPHQWRORUGRSHU
DGGHWWR²LQSUHVHQ]D
GLVSHVHSHU
0RGDOLWjGL SUHVWD]LRQLGLODYRUR
&OXVWHU
GLSHQGHQWHR
GLVWULEX]LRQH
DVVLPLODWRLQPLJOLDLD
GLHXUR
5HVDRUDULDSHUDGGHWWR
6RJOLDPLQLPD
6RJOLDPDVVLPD
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
0DUJLQHGHOSURIHVVLRQLVWD
LQDVVHQ]DGLVSHVHSHU
SUHVWD]LRQLGLODYRUR
&OXVWHU 0RGDOLWjGLGLVWULEX]LRQH GLSHQGHQWHRDVVLPLODWRLQ
PLJOLDLDGLHXUR
6RJOLDPLQLPD
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
*UXSSRWHUULWRULDOH
&OXVWHU
,QFLGHQ]DGHOOHVSHVHVXLFRPSHQVL
0RGDOLWjGLGLVWULEX]LRQH
6RJOLDPLQLPD
6RJOLDPDVVLPD
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
3URIHVVLRQLVWLVHQ]DIRU]DODYRUR
3URIHVVLRQLVWLFRQIRU]DODYRUR
— 264 —
— 265 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
ULVSHWWRDOYDORUHGHJOL 7XWWLLVRJJHWWL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSHUXQDSOXUDOLWjGLFRPPLWWHQWLHFKHQRQVYROJRQRLQSUHYDOHQ]DDWWLYLWjLQUHJLPHGLDFFUHGLWDPHQWRDQFKH
SURYYLVRULRFRQYHQ]LRQHFRQLOVVQ
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
ULVSHWWRDOYDORUHGHJOL 7XWWLLVRJJHWWL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHRSHUDQRSHULOFRPPLWWHQWHSULQFLSDOHHFKHQRQVYROJRQRLQSUHYDOHQ]DDWWLYLWjLQUHJLPHGLDFFUHGLWDPHQWRDQFKH
SURYYLVRULRFRQYHQ]LRQHFRQLOVVQ
68%$//(*$72)²',675,%8=,21,9(17,/,&+(,1',&$725,',1250$/,7­(&2120,&$
30-12-2014
Serie generale - n. 301
,QFLGHQ]DGHOOHDOWUH
FRPSRQHQWLQHJDWLYHDO
7XWWLLVRJJHWWL
QHWWRGHLFDQRQLGL
ORFD]LRQHVXLFRPSHQVL
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHUEHQL
VWUXPHQWDOLPRELOL
ULVSHWWRDOYDORUHGHJOL 7XWWLLVRJJHWWL
VWHVVLEHQLVWUXPHQWDOL
PRELOLDPPRUWL]]DELOL
,QGLFDWRUH
&OXVWHU&RQWULEXHQWLFKHVYROJRQRSUHYDOHQWHPHQWHDWWLYLWjLQUHJLPHGLDFFUHGLWDPHQWRDQFKHSURYYLVRULRFRQYHQ]LRQHFRQLOVVQ
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 266 —
Serie generale - n. 301
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
68%$//(*$72*9$/25,62*/,$3(5*/,,1',&$725,',1250$/,7­(&2120,&$
,QFLGHQ]DGHJOL
DPPRUWDPHQWLSHU
,QFLGHQ]DGHOOHDOWUH
EHQLVWUXPHQWDOL
FRPSRQHQWLQHJDWLYHDO
PRELOLULVSHWWRDO
0RGDOLWjGL
QHWWRGHLFDQRQLGL
&OXVWHU
GLVWULEX]LRQH YDORUHGHJOLVWHVVLEHQL ORFD]LRQHVXLFRPSHQVL
VWUXPHQWDOLPRELOL
DPPRUWL]]DELOL
6RJOLDPDVVLPD
6RJOLDPDVVLPD
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
— 267 —
&/867(5 &/867(5 &/867(5
— 268 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
7XWWHOHYDULDELOLVRQRSRQGHUDWHSHULOFRHIILFLHQWH&2())35,93HULOGHWWDJOLRYHGL1RWDVXOFDOFRORGHOFRHIILFLHQWH&2())35,9
9DULDELOLFRQWDELOLHVSUHVVHLQHXUR
/DYDULDELOHYLHQHULGHWHUPLQDWDLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDULDOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
3HULOGHWWDJOLRYHGL´1RWDDOODYDULDELOHGLUHJUHVVLRQH2UHGHGLFDWHDOO·DWWLYLWjµ
,OFRPSHQVRSXQWXDOHHLOFRPSHQVRPLQLPRVHQHJDWLYLVRQRSRVWLXJXDOLD]HUR
(WjSURIHVVLRQDOH 9DORUHPDVVLPRWUD3HULRGRGLLPSRVWD²9DORUHPDVVLPRWUD$QQRGLLQL]LRDWWLYLWjH$QQRGLLVFUL]LRQHDGDOELSURIHVVLRQDOLH
'RYH
2UHGHGLFDWHDOO
DWWLYLWj(WjSURIHVVLRQDOHILQRDDQQL
2UHGHGLFDWHDOO
DWWLYLWj
&RQVXPL $OWUH VSHVH 6SHVH SHU SUHVWD]LRQL GL ODYRUR GLSHQGHQWH 6SHVH
SHU SUHVWD]LRQL GL FROODERUD]LRQH FRRUGLQDWD H FRQWLQXDWLYD &RPSHQVL
FRUULVSRVWLDWHU]LSHUSUHVWD]LRQLGLUHWWDPHQWHDIIHUHQWLO
DWWLYLWjSURIHVVLRQDOHH
DUWLVWLFD
9DORUHGHLEHQLVWUXPHQWDOLPRELOL
9$5,$%,/(
68%$//(*$72+&2()),&,(17,'(//()81=,21,',&203(162
30-12-2014
Serie generale - n. 301
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
127$$//$9$5,$%,/(',5(*5(66,21(25('(',&$7(
$//·$77,9,7­
/DYDULDELOH2UHGHGLFDWHDOO·DWWLYLWj qFDOFRODWDFRPH
2UHGHGLFDWH
´)DWWRUHFRUUHWWLYRLQGLYLGXDOHµ
DOO·DWWLYLWj GRYH
SURIHVVLRQLVWD
FKHRSHUDLQ
•
´)DWWRUH FRUUHWWLYR LQGLYLGXDOHµ
IRUPDLQGLYLGXDOH
VHWWLPDQHGLODYRURQHOO·DQQRµ
•
•
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ ´3HVR
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ q SDUL D PLQRU YDORUH WUD H QXPHUR RUH
VHWWLPDQDOLGHGLFDWHDOO·DWWLYLWjGLYLVR
´3HVR VHWWLPDQH GL ODYRUR QHOO·DQQRµ q SDUL D PLQRU YDORUH WUD ´9DORUH PDVVLPR GHOOH
VHWWLPDQHGLODYRURQHOO·DQQRµHQXPHURGLVHWWLPDQHGLODYRURQHOO·DQQRGLYLVR
2UHGHGLFDWH
DOO·DWWLYLWj HVHUFL]LR
FROOHWWLYR
GHOO·DWWLYLWj
SURIHVVLRQDOH
1XPHUR GL VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD VRFLHWj R DVVRFLD]LRQH ´)DWWRUH FRUUHWWLYR
DVVRFLD]LRQLµ
GRYH
•
•
•
´)DWWRUH FRUUHWWLYR DVVRFLD]LRQLµ ´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ ´3HVR
VHWWLPDQHGLODYRURQHOO·DQQRµ
´3HVR RUH VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWjµ q SDUL D PLQRU YDORUH WUD H QXPHUR RUH
VHWWLPDQDOL GHGLFDWH DOO·DWWLYLWj GLYLVR QXPHUR VRFL R DVVRFLDWL FKH SUHVWDQR DWWLYLWj QHOOD
VRFLHWjRDVVRFLD]LRQHGLYLVR
´3HVR VHWWLPDQH GL ODYRUR QHOO·DQQRµ q SDUL D PLQRU YDORUH WUD ´9DORUH PDVVLPR GHOOH
VHWWLPDQHGLODYRURQHOO·DQQRµHQXPHURGLVHWWLPDQHGLODYRURQHOO·DQQRGLYLVRQXPHURVRFL
RDVVRFLDWLFKHSUHVWDQRDWWLYLWjQHOODVRFLHWjRDVVRFLD]LRQHGLYLVR
,O´9DORUHPDVVLPRGHOOHVHWWLPDQHGLODYRURQHOO·DQQRµRYYHURVHWWLPDQHqULGHWHUPLQDWRLQEDVHDOODGXUDWDGHOO·DWWLYLWjSDUL
DOQXPHURGLPHVLGLDWWLYLWjQHOFRUVRGHOSHULRGRG·LPSRVWDGLYLVR
— 269 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
127$68/&$/&2/2'(/&2()),&,(17(&2())35,9
/HYDULDELOLXWLOL]]DWHQHOODIXQ]LRQHGLFRPSHQVRVRQRSRQGHUDWHFRQLOFRHIILFLHQWHGLGHWHUPLQD]LRQHGHOO·LQFLGHQ]DGHOOH
SUHVWD]LRQLHIIHWWXDWHQRQLQUHJLPHGLDFFUHGLWDPHQWRFRQYHQ]LRQHFRQLO6HUYL]LR6DQLWDULR1D]LRQDOHQHOVHJXHQWHPRGR
9$5,$%,/(&2())35,9
GRYH
&2())35,9 3(62B661
3(62B661qLOPLQRUYDORUHWUD
9DORUHGHOOHSUHVWD]LRQLHURJDWHDFDULFRGHO661LQFOXVRLOWLFNHW$QDOLVLGLODERUDWRULR9DORUHFRQWDELOH42
7RWDOH6SHVH
,QFLGHQ]DVSHVHSURIHVVLRQLVWL
H
7RWDOH6SHVH 6SHVHSHUSUHVWD]LRQLGLODYRURGLSHQGHQWH6SHVHSHUSUHVWD]LRQLGLFROODERUD]LRQHFRRUGLQDWDHFRQWLQXDWLYD
&RPSHQVLFRUULVSRVWLDWHU]LSHUSUHVWD]LRQLGLUHWWDPHQWHDIIHUHQWLO
DWWLYLWjSURIHVVLRQDOHHDUWLVWLFD&RQVXPL$OWUHVSHVH
,QFLGHQ]D VSHVH SURIHVVLRQLVWL q VWDWR LQGLYLGXDWR GLVWLQWDPHQWH SHU JUXSSR RPRJHQHR FOXVWHU VHOH]LRQDQGR LO YDORUH
PHGLDQR GHO UDSSRUWR WUD O·DPPRQWDUH FRPSOHVVLYR GHO 7RWDOH 6SHVH H O·DPPRQWDUH FRPSOHVVLYR GHL &RPSHQVL 'LFKLDUDWL
FDOFRODWRVXOODSODWHDGHLFRQWULEXHQWLFKHKDQQR7RWDOH6SHVHPDJJLRUHGL]HUR,QDSSOLFD]LRQHSHURJQLVLQJRORVRJJHWWRLO
YDORUH GL ,QFLGHQ]D VSHVH SURIHVVLRQLVWL GD XWLOL]]DUH SHU LO FDOFROR GL 3(62B661 q RWWHQXWR SRQGHUDQGR L YDORUL GL
ULIHULPHQWRYHGL7DEHOODFRQOHSUREDELOLWjGLDSSDUWHQHQ]DDLFOXVWHU
6H L &RPSHQVL GHULYDQWL GD SUHVWD]LRQL UHVH LQ UHJLPH GL FRQYHQ]LRQH FRQ LO 6HUYL]LR 6DQLWDULR 1D]LRQDOH VRQR XJXDOL D ]HUR
DOORUD3(62B661qXJXDOHD
6HL&RPSHQVLGHULYDQWLGDSUHVWD]LRQLUHVHLQUHJLPHGLFRQYHQ]LRQHFRQLO6HUYL]LR6DQLWDULR1D]LRQDOHVRQRPDJJLRULGL]HURH
7RWDOH6SHVHqXJXDOHDDOORUD3(62B661qXJXDOHD
7DEHOOD²&RHIILFLHQWLGHOO·,QFLGHQ]DVSHVHSURIHVVLRQLVWL
&OXVWHU
0RGDOLWjGL
GLVWULEX]LRQH
,QFLGHQ]D
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
7XWWLLVRJJHWWL
6HLO9DORUHGHOOHSUHVWD]LRQLHURJDWHDFDULFRGHO661LQFOXVRLOWLFNHW$QDOLVLGLODERUDWRULR9DORUHFRQWDELOHqPDJJLRUHGHL&RPSHQVL
GLFKLDUDWL DOORUD LO 9DORUH GHOOH SUHVWD]LRQL HURJDWH D FDULFR GHO 661 LQFOXVR LO WLFNHW $QDOLVL GL ODERUDWRULR 9DORUH FRQWDELOH q SDUL DL
&RPSHQVLGLFKLDUDWL
1HOODVROD IDVHGLGHILQL]LRQHGHOODIXQ]LRQHGLFRPSHQVRVHLO9DORUHGHOOHSUHVWD]LRQLHURJDWHDFDULFRGHO661LQFOXVRLOWLFNHW$QDOLVLGL
ODERUDWRULR 9DORUH FRQWDELOH q SDUL D ]HUR q VWDWR SRVWR SDUL D 7LSRORJLD GHOOD FOLHQWHOD $WWLYLWj LQ UHJLPH GL DFFUHGLWDPHQWR DQFKH
SURYYLVRULRFRQYHQ]LRQHFRQLO661SHUODTXDOHVLULFKLHGHLOULPERUVRLQFOXVRLOUHODWLYRWLFNHW&RPSHQVLGLFKLDUDWL,&RPSHQVL
GLFKLDUDWLLQFOXGRQRDQFKHO·$GHJXDPHQWRGDVWXGLGLVHWWRUH
— 270 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
$//(*$72
1 27$ 7 (&1,&$( 0 (72'2/2*,&$ &255(77,92$335(1',67,
— 271 —
Serie generale - n. 301
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
1HOO·DPELWR GHOO·DQDOLVL GHOOD FRQJUXLWj WURYD DSSOLFD]LRQH XQ FRUUHWWLYR FRQQHVVR DOO·HYHQWXDOH SUHVHQ]D GL
DSSUHQGLVWL
7DOHFRUUHWWLYRFKHULGXFHO·LPSRUWRGHOOHVSHVHSHULOODYRURSUHVWDWRGDJOLDSSUHQGLVWLXWLOL]]DWRQHOODVWLPDGHL
ULFDYLRSHUDLQPRGRGHFUHVFHQWHULVSHWWRDOSHULRGRGLDSSUHQGLVWDWRFRPSOHVVLYDPHQWHHIIHWWXDWRLQPRGRGD
WHQHU FRQWR GHO SURJUHVVLYR DXPHQWR GHOOD TXDOLILFD]LRQH SURIHVVLRQDOH 3HUWDQWR PLQRUH q LO SHULRGR GL
DSSUHQGLVWDWRVYROWRPDJJLRUHVDUjODSHUFHQWXDOHGLULGX]LRQHDSSOLFDWD
,OYDORUHFRQWDELOHGHOOHVSHVHSHUOHSUHVWD]LRQLGLODYRURGHJOLDSSUHQGLVWLDGHJXDWRDVHJXLWRGHOO·DSSOLFD]LRQH
GHOFRUUHWWLYRH
TXHOORFKHYLHQHFRQVLGHUDWRQHOFDOFRORGHOODYDULDELOH´6SHVHSHUODYRURGLSHQGHQWHHSHUDOWUH
SUHVWD]LRQLGLYHUVHGDODYRURGLSHQGHQWHDIIHUHQWLO
DWWLYLWjGHOO·LPSUHVDµXWLOL]]DWDQHOODGHWHUPLQD]LRQHGHLULFDYL
DOQHWWRGHL´&RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjGLSHUVRQHµ
$LILQLGHOO·DSSOLFD]LRQHGHOFRUUHWWLYRLQTXHVWLRQH
•
OH ´6SHVH SHU OH SUHVWD]LRQL GL ODYRUR GHJOL DSSUHQGLVWLµ GHYRQR HVVHUH QRQ VXSHULRUL DOOH ´6SHVH SHU
ODYRURGLSHQGHQWHHSHUDOWUHSUHVWD]LRQLGLYHUVHGDODYRURGLSHQGHQWHDIIHUHQWLO
DWWLYLWjGHOO·LPSUHVDµDO
QHWWRGHL´&RPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjGLSHUVRQHµ
•
O·´$PPRQWDUHGHOOHVSHVHGLFXLDOULJR;XWLOL]]DWHDLILQLGHOFDOFRORµqGHWHUPLQDWRDSSOLFDQGRDOOH
´6SHVHSHUOHSUHVWD]LRQLGLODYRURGHJOLDSSUHQGLVWLµODIRUPXODGLULGX]LRQHGHOSHVRGHJOLDSSUHQGLVWL
/·´$PPRQWDUHGHOOHVSHVHGLFXLDOULJR;XWLOL]]DWHDLILQLGHOFDOFRORµQRQSXzHVVHUHLQIHULRUHDO
GHOOH´6SHVHSHUOHSUHVWD]LRQLGLODYRURGHJOLDSSUHQGLVWLµ
/D YDULDELOH >´6SHVH SHU ODYRUR GLSHQGHQWH H SHU DOWUH SUHVWD]LRQL GLYHUVH GD ODYRUR GLSHQGHQWH DIIHUHQWL O
DWWLYLWj GHOO·LPSUHVDµ ´&RPSHQVL FRUULVSRVWL DL VRFL SHU O·DWWLYLWj GL DPPLQLVWUDWRUH VRFLHWj GL SHUVRQHµ@ YLHQH XWLOL]]DWD QHOOD VWLPD GHL ULFDYL DO QHWWR GHOOD
GLIIHUHQ]DWUDOH´6SHVHSHUOHSUHVWD]LRQLGLODYRURGHJOLDSSUHQGLVWLµHO·´$PPRQWDUHGHOOHVSHVHGLFXLDOULJR;XWLOL]]DWHDLILQLGHO
FDOFRORµ
/DIRUPXODGLULGX]LRQHGHOSHVRGHJOLDSSUHQGLVWLqODVHJXHQWH
DSS [7UL7RW7UL7UL7RW7UL7RW7UL7UL7RW
GRYH
•
DSSqODSHUFHQWXDOHGLULGX]LRQHGHOOHVSHVHSHULOODYRURSUHVWDWRGDJOLDSSUHQGLVWL
•
7UL7RWqSDULDOQXPHURGLWULPHVWULGHOODGXUDWDGHOFRQWUDWWRGLDSSUHQGLVWDWR
•
7ULqSDULDOQXPHURGLWULPHVWULGLDSSUHQGLVWDWRFRPSOHVVLYDPHQWHHIIHWWXDWLDOODGDWDGLLQL]LRGHOSHULRGRG·LPSRVWD7UL
YDOH]HURLQFDVRGLLQL]LRGHOFRQWUDWWRGLDSSUHQGLVWDWRQHOFRUVRGHOSHULRGRG·LPSRVWD
•
7ULqSDULDOQXPHURGLWULPHVWULGLDSSUHQGLVWDWRFRPSOHVVLYDPHQWHHIIHWWXDWLDOODGDWDGLILQHGHOSHULRGRG·LPSRVWD7UL
VDUjSDULD7UL7RWLQFDVRGLILQHGHOFRQWUDWWRGLDSSUHQGLVWDWRQHOFRUVRGHOSHULRGRG·LPSRVWD
— 272 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
$//(*$72
1 27$ 7 (&1,&$( 0 (72'2/2*,&$ 1(875$/,==$=,21('(*/,
$* * , 2 5 , & $9 , ) , 6 6 , — 273 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
$OFXQH GHOOH YDULDELOL XWLOL]]DWH QHOO·DQDOLVL GHOOD FRQJUXLWj SUHVHQWL QHL TXDGUL GHO SHUVRQDOH H GHJOL HOHPHQWL
FRQWDELOL DQQRWDWH QHO PRGHOOR LQ PDQLHUD LQGLVWLQWD YHQJRQR QHXWUDOL]]DWH SHU WHQHU FRQWR GHOOD FRPSRQHQWH
UHODWLYDDOO·DWWLYLWjGLYHQGLWDGLJHQHULVRJJHWWLDGDJJLRRULFDYRILVVR
/DQHXWUDOL]]D]LRQHYLHQHDSSOLFDWDDOOHVHJXHQWLYDULDELOL
• 3HUVRQDOHDGGHWWRDOO·DWWLYLWj
3HUFHQWXDOH GL ODYRUR SUHVWDWR GD ´&ROODERUDWRUL GHOO
LPSUHVD IDPLOLDUH H FRQLXJH GHOO
D]LHQGD
FRQLXJDOHµ
3HUFHQWXDOH GL ODYRUR SUHVWDWR GD ´)DPLOLDUL GLYHUVL GD TXHOOL GL FXL DO ULJR SUHFHGHQWH FKH
SUHVWDQRDWWLYLWjQHOO
LPSUHVDµ
3HUFHQWXDOHGLODYRURSUHVWDWRGD´$VVRFLDWLLQSDUWHFLSD]LRQHµ
3HUFHQWXDOHGLODYRURSUHVWDWRGD´6RFLDPPLQLVWUDWRULµ
3HUFHQWXDOHGLODYRURSUHVWDWRGD´6RFLQRQDPPLQLVWUDWRULµ
• (OHPHQWLFRQWDELOL
6SHVHSHUDFTXLVWLGLVHUYL]L
6SHVH SHU DFTXLVWL GL VHUYL]L GL FXL SHU FRPSHQVL FRUULVSRVWL DL VRFL SHU O
DWWLYLWj GL
DPPLQLVWUDWRUHVRFLHWjHGHQWLVRJJHWWLDOO·,UHV
$OWULFRVWLSHUVHUYL]L
&RVWR SHU LO JRGLPHQWR GL EHQL GL WHU]L FDQRQL GL ORFD]LRQH ILQDQ]LDULD H QRQ ILQDQ]LDULD GL
QROHJJLR HFF GL FXL SHU EHQL PRELOL DFTXLVLWL LQ GLSHQGHQ]D GL FRQWUDWWL GL ORFD]LRQH QRQ
ILQDQ]LDULDHGLQROHJJLR
6SHVH SHU ODYRUR GLSHQGHQWH H SHU DOWUH SUHVWD]LRQL GLYHUVH GD ODYRUR GLSHQGHQWH DIIHUHQWL
O
DWWLYLWjGHOO
LPSUHVD
6SHVH SHU ODYRUR GLSHQGHQWH H SHU DOWUH SUHVWD]LRQL GLYHUVH GD ODYRUR GLSHQGHQWH DIIHUHQWL
O
DWWLYLWj GHOO
LPSUHVD GL FXL SHU FRPSHQVL FRUULVSRVWL DL VRFL SHU O
DWWLYLWj GL DPPLQLVWUDWRUH
VRFLHWjGLSHUVRQH
2QHULGLYHUVLGLJHVWLRQHGLFXLSHUDEERQDPHQWLDULYLVWHHJLRUQDOLDFTXLVWRGLOLEULVSHVHSHU
FDQFHOOHULD
2QHULGLYHUVLGLJHVWLRQHGLFXLSHUVSHVHSHURPDJJLRDFOLHQWLHGDUWLFROLSURPR]LRQDOL
9DORUHGHLEHQLVWUXPHQWDOL
9DORUHGHLEHQLVWUXPHQWDOLGLFXL´YDORUHUHODWLYRDEHQLDFTXLVLWLLQGLSHQGHQ]DGLFRQWUDWWLGL
ORFD]LRQHQRQILQDQ]LDULDµ
/DQHXWUDOL]]D]LRQHYLHQHHIIHWWXDWDLQEDVHDOFRHIILFLHQWHGLVFRUSRURFDOFRODWRFRPHLOPLQRUYDORUHWUD
$JJLGHULYDQWLGDOODYHQGLWDGLJHQHULVRJJHWWLDGDJJLRRULFDYRILVVR
0DUJLQHORUGRFRPSOHVVLYRD]LHQGDOHFDOFRODWR
H$JJLGHULYDQWLGDOODYHQGLWDGLJHQHULVRJJHWWLDGDJJLRRULFDYRILVVR
$OWULFRVWL
/·DEEDWWLPHQWRYLHQHHIIHWWXDWRVXOOHYDULDELOLXWLOL]]DWHQHOO·DQDOLVLGHOODFRQJUXLWjHQRQVXOODVLQJRODYDULDELOH
$WDOHYDULDELOHSULPDGHOODQHXWUDOL]]D]LRQHSHUWHQHUFRQWRGHOODFRPSRQHQWHUHODWLYDDOO·DWWLYLWjGLYHQGLWDGLEHQLVRJJHWWLDGDJJLRR
ULFDYRILVVRYLHQHDSSOLFDWRVHSUHVHQWHLOFRUUHWWLYRUHODWLYRDJOLDSSUHQGLVWL
— 274 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
6H$OWULFRVWLqXJXDOHD]HURDOORUDLOUDSSRUWR
$JJLGHULYDQWLGDOODYHQGLWDGLJHQHULVRJJHWWLDGDJJLRRULFDYRILVVR
$OWULFRVWL
qSRVWRSDULDG
'RYH
•
$JJL GHULYDQWL GDOOD YHQGLWD GL JHQHUL VRJJHWWL DG DJJLR R ULFDYR ILVVR 5LFDYL GHULYDQWL GDOOD
YHQGLWD GL JHQHUL VRJJHWWL DG DJJLR R ULFDYR ILVVR &RVWR GHO YHQGXWR UHODWLYR DOOD YHQGLWD GL JHQHUL
VRJJHWWLDGDJJLRRULFDYRILVVR
•
&RVWR GHO YHQGXWR UHODWLYR DOOD YHQGLWD GL JHQHUL VRJJHWWL DG DJJLR R ULFDYR ILVVR (VLVWHQ]H
LQL]LDOLUHODWLYHDSURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVR5LPDQHQ]HILQDOLUHODWLYHDSURGRWWLVRJJHWWL
DGDJJLRRULFDYRILVVR&RVWLSHUO·DFTXLVWRGLSURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVR%HQLVRJJHWWL
DGDJJLRRULFDYRILVVRGLVWUXWWLRVRWWUDWWL
•
0DUJLQHORUGRFRPSOHVVLYRD]LHQGDOHFDOFRODWR $JJLGHULYDQWLGDOODYHQGLWDGLJHQHULVRJJHWWLDG
DJJLRRULFDYRILVVR0DUJLQHORUGRFDOFRODWRSHUDWWLYLWjGLYHUVHGDOODYHQGLWDGLJHQHULVRJJHWWLDGDJJLR
RULFDYRILVVR
•
0DUJLQH ORUGR FDOFRODWR SHU DWWLYLWj GLYHUVH GDOOD YHQGLWD GL JHQHUL VRJJHWWL DG DJJLR R ULFDYR
ILVVR &RVWRGHOYHQGXWRHSHUODSURGX]LRQHGLVHUYL]L,QGLFHGLPDUJLQHPHGLR
•
&RVWRGHOYHQGXWRHSHUODSURGX]LRQHGLVHUYL]L >(VLVWHQ]HLQL]LDOLUHODWLYHDPHUFLSURGRWWLILQLWL
PDWHULHSULPHHVXVVLGLDULHVHPLODYRUDWLHDLVHUYL]L QRQGLGXUDWDXOWUDQQXDOHHVFOXVHTXHOOHUHODWLYHD
SURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVR&RVWLSHUO
DFTXLVWRGLPDWHULHSULPHVXVVLGLDULHVHPLODYRUDWL
HPHUFLHVFOXVLTXHOOLUHODWLYLDSURGRWWLVRJJHWWLDGDJJLRRULFDYRILVVRHSHUODSURGX]LRQHGLVHUYL]L
%HQLGLVWUXWWLRVRWWUDWWLHVFOXVLTXHOOLVRJJHWWLDGDJJLRRULFDYRILVVR@(VLVWHQ]HLQL]LDOLUHODWLYHDG
RSHUHIRUQLWXUHHVHUYL]LGLGXUDWDXOWUDQQXDOHGLFXLDOO
DUWFRPPDGHO78,5%HQLGLVWUXWWLR
VRWWUDWWL5LPDQHQ]HILQDOL
•
5LPDQHQ]H ILQDOL 5LPDQHQ]H ILQDOL UHODWLYH D PHUFL SURGRWWL ILQLWL PDWHULH SULPH H VXVVLGLDULH
VHPLODYRUDWLHDLVHUYL]LQRQGLGXUDWDXOWUDQQXDOHHVFOXVHTXHOOHUHODWLYHDSURGRWWLVRJJHWWLDGDJJLRR
ULFDYRILVVR5LPDQHQ]HILQDOLUHODWLYHDGRSHUHIRUQLWXUHHVHUYL]LGLGXUDWDXOWUDQQXDOHGLFXLDOO
DUW
FRPPDGHO78,5
•
$OWULFRVWL 6SHVHSHUDFTXLVWLGLVHUYL]L6SHVHSHUDFTXLVWLGLVHUYL]LGLFXLSHUFRPSHQVLFRUULVSRVWL
DLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjHGHQWLVRJJHWWLDOO·,UHV$OWULFRVWLSHUVHUYL]L&RVWR
SHULOJRGLPHQWRGLEHQLGLWHU]LFDQRQLGLORFD]LRQHILQDQ]LDULDHQRQILQDQ]LDULDGLQROHJJLRHFFGL
FXLSHUEHQLPRELOLDFTXLVLWLLQGLSHQGHQ]DGLFRQWUDWWLGLORFD]LRQHQRQILQDQ]LDULDHGLQROHJJLR6SHVH
SHUODYRURGLSHQGHQWHHSHUDOWUHSUHVWD]LRQLGLYHUVHGDODYRURGLSHQGHQWHDIIHUHQWLO·DWWLYLWjGHOO·LPSUHVD
6SHVH SHU ODYRUR GLSHQGHQWH H SHU DOWUH SUHVWD]LRQL GLYHUVH GD ODYRUR GLSHQGHQWH DIIHUHQWL O·DWWLYLWj
6HODYDULDELOH&RVWRGHOYHQGXWRUHODWLYRDOODYHQGLWDGLJHQHULVRJJHWWLDGDJJLRRULFDYRILVVRqPLQRUHGL]HURYLHQHSRVWDXJXDOHD
]HUR
3HUVLQJRORVWXGLRGLVHWWRUHO·,QGLFHGLPDUJLQHPHGLRqVWDWRLQGLYLGXDWRVXOODSODWHDGHLFRQWULEXHQWLFRHUHQWLQRUPDOLHFRQPDUJLQH
ORUGRSRVLWLYRGLVWLQWDPHQWHSHUJUXSSRRPRJHQHRFOXVWHUFRPHUDSSRUWRWUDO·DPPRQWDUHFRPSOHVVLYRGHO0DUJLQHORUGRGLFKLDUDWRH
O·DPPRQWDUH FRPSOHVVLYR GHO &RVWR GHO YHQGXWR H SHU OD SURGX]LRQH GL VHUYL]L ,O 0DUJLQH ORUGRGLFKLDUDWR q SDUL D 5LFDYL GLFKLDUDWL &RVWRGHOYHQGXWRHSHUODSURGX]LRQHGLVHUYL]L/·,QGLFHGLPDUJLQHPHGLRSHUPHWWHGLFDOFRODUHLO0DUJLQHORUGRSHUDWWLYLWjGLYHUVH
GDOODYHQGLWDGLJHQHULVRJJHWWLDGDJJLRRULFDYRILVVRVXOODEDVHGHO&RVWRGHOYHQGXWRHSHUODSURGX]LRQHGLVHUYL]LLQGLSHQGHQWHPHQWH
GDOOLYHOORGHL5LFDYLGLFKLDUDWL
GRYH
5LFDYLGLFKLDUDWL 5LFDYLGLFXLDLFRPPLOHWWDHEHGHOO·DUWGHO78,5HVFOXVLDJJLRULFDYLILVVL$OWULSURYHQWLFRQVLGHUDWL
ULFDYL $OWUL SURYHQWL FRQVLGHUDWL ULFDYL GL FXL DOOD OHWWHUD I GHOO·DUW FRPPD GHO 78,5 5LPDQHQ]H ILQDOL UHODWLYH DG RSHUH
IRUQLWXUH H VHUYL]L GL GXUDWD XOWUDQQXDOH 5LPDQHQ]H ILQDOL UHODWLYH DG RSHUH IRUQLWXUH H VHUYL]L GL GXUDWD XOWUDQQXDOH GL FXL DOO·DUW FRPPDGHO78,5(VLVWHQ]HLQL]LDOLUHODWLYHDGRSHUHIRUQLWXUHHVHUYL]LGLGXUDWDXOWUDQQXDOH(VLVWHQ]HLQL]LDOLUHODWLYHDGRSHUH
IRUQLWXUHHVHUYL]LGLGXUDWDXOWUDQQXDOHGLFXLDOO·DUWFRPPDGHO78,5
1HOODVRODIDVHGLFRVWUX]LRQHL5LFDYLGLFKLDUDWLLQFOXGRQRDQFKHO·$GHJXDPHQWRGDVWXGLGLVHWWRUH
,O ULFKLDPR GHOO·DUW FRPPD GHO 78,5 q ULIHULWR DO WHVWR YLJHQWH DQWHULRUPHQWH DOO·DEURJD]LRQH GHOOD QRUPD RSHUDWD GDOO·DUW FRPPDGHOODOHJJHGLFHPEUHQRSHUHIRUQLWXUHHVHUYL]LXOWUDQQXDOLFRQLQL]LRGLHVHFX]LRQHQRQVXFFHVVLYRDOSHULRGR
G·LPSRVWDLQFRUVRDOODGDWDGHOGLFHPEUH
— 275 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
GHOO·LPSUHVDGLFXLSHUFRPSHQVLFRUULVSRVWLDLVRFLSHUO·DWWLYLWjGLDPPLQLVWUDWRUHVRFLHWjGLSHUVRQH
2QHUL GLYHUVL GL JHVWLRQH GL FXL SHU DEERQDPHQWL D ULYLVWH H JLRUQDOL DFTXLVWR GL OLEUL VSHVH SHU
FDQFHOOHULD2QHULGLYHUVLGLJHVWLRQHGLFXLSHUVSHVHSHURPDJJLRDFOLHQWLHGDUWLFROLSURPR]LRQDOL
,QDSSOLFD]LRQHSHURJQLVLQJRORVRJJHWWRLOYDORUHGHOO·,QGLFHGLPDUJLQHPHGLRGDXWLOL]]DUHSHULOFDOFRORGHO
FRHIILFLHQWHGLVFRUSRURqRWWHQXWRSRQGHUDQGRLYDORULGLULIHULPHQWRLQGLYLGXDWLSHUJUXSSRRPRJHQHRFRQOH
UHODWLYHSUREDELOLWjGLDSSDUWHQHQ]DYHGLWDEHOOD
/DQHXWUDOL]]D]LRQHQRQYLHQHHIIHWWXDWDQHLVHJXHQWLFDVL
•
&RVWRGHOYHQGXWRHSHUODSURGX]LRQHGLVHUYL]LLQIHULRUHRXJXDOHD]HUR
•
5LFDYLGHULYDQWLGDOODYHQGLWDGLJHQHULVRJJHWWLDGDJJLRRULFDYRILVVRLQIHULRULRXJXDOLDO&RVWRGHO
YHQGXWRUHODWLYRDOODYHQGLWDGLJHQHULVRJJHWWLDGDJJLRRULFDYRILVVR
7DEHOOD²9DORULGHOO·,QGLFHGLPDUJLQHPHGLR
6WXGLR
&OXVWHU 9DORUH
GL
6HWWRUH
:.8
:.8
:.8
:.8
:.8
:.8
:.8
:.8
:.8
:.8
:.8
:.8
/HSUREDELOLWjGLDSSDUWHQHQ]DDLFOXVWHUVRQRDUURWRQGDWHDOODTXLQWDFLIUDGHFLPDOH
— 276 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
$//(*$72
1 27$ 7 (&1,&$( 0 (72'2/2*,&$ (/(0(17,1(&(66$5,3(5,/
&$/&2/2'(/´&203(1622
5 , & $9 2 0 , 1 , 0 2 µ & 2 1 , 0 , 1 , 0 , 4 8$ ' 5 $ 7 , * ( 1 ( 5 $ / , = = $ 7 , 678',',6(7725(
'(,352)(66,21,67,
— 277 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
(/(0(17,1(&(66$5,3(5,/&$/&2/2'(/´&203(16225,&$920,1,02',
&/867(5µ
Nel presente allegato sono riportati gli elementi necessari per il calcolo del “compenso o ricavo minimo” con
riferimento agli studi di settore, di seguito individuati, che applicanoLOPHWRGRGHL0LQLPL4XDGUDWL*HQHUDOL]]DWL
*/6.
1HOO·DPELWRGHJOLVWXGLGLVHWWRUHSHUWHQHUFRQWRGHOODYDULDELOLWjOHJDWDDOODVWLPDGHOFRPSHQVRRULFDYRSXQWXDOH
GHOVLQJRORFRQWULEXHQWHYLHQHFDOFRODWRO·LQWHUYDOORGLFRQILGHQ]DDOOLYHOORGHO
,OOLPLWHLQIHULRUHGLWDOHLQWHUYDOORGLFRQILGHQ]DFRVWLWXLVFHLO´FRPSHQVRRULFDYRPLQLPRµ1HOODWHUPLQRORJLD
VWDWLVWLFD SHU ´LQWHUYDOOR GLFRQILGHQ]Dµ VL LQWHQGH XQ LQWHUYDOOR FHQWUDWRVXO FRPSHQVR R ULFDYR SXQWXDOH H
GHOLPLWDWRGDGXHHVWUHPLXQRLQIHULRUHHO·DOWURVXSHULRUHFKHLQFOXGHFRQXQOLYHOORGLSUREDELOLWjSUHILVVDWRLO
YDORUHDWWHVRGHOFRPSHQVRRULFDYRGHOFRQWULEXHQWH
,OOLYHOORGLSUREDELOLWjSUHILVVDWRROLYHOORGLILGXFLDYLHQHJHQHUDOPHQWHLQGLFDWRFRQODQRWD]LRQH
GRYH UDSSUHVHQWD OD SUREDELOLWj FKH O·LQWHUYDOOR GL FRQILGHQ]D QRQ FRQWHQJD LO YDORUH DWWHVR GHO FRPSHQVRR
ULFDYRGHOFRQWULEXHQWH3HUXQOLYHOORGLILGXFLDSDULDOLOYDORUHFRUULVSRQGHQWHGL qSDULD
,QGLFDQGR FRQ LO ´FRPSHQVR R ULFDYR SXQWXDOHµ GHO JHQHULFR FRQWULEXHQWH LO FRUULVSRQGHQWH ´FRPSHQVR R
ULFDYRPLQLPRµqRWWHQXWRDWWUDYHUVRODVHJXHQWHIRUPXOD
GRYH
•
qODPDWULFHLQYHUVDGHOODPDWULFHGDWDGDOOHVRPPHGHLTXDGUDWLHGHLSURGRWWLLQFURFLDWLGHOOHYDULDELOL
LQGLSHQGHQWLRSSRUWXQDPHQWHSHVDWHSHUFRQWUROODUHO·HYHQWXDOHSUHVHQ]DGLHWHURVFKHGDVWLFLWj
•
qODUDGLFHTXDGUDWDGHO0HDQ6TXDUH(UURU506(
•
qLOYHWWRUHGHOOHYDULDELOLLQGLSHQGHQWLRVVHUYDWHSHULOJHQHULFRFRQWULEXHQWH
•
q LO YDORUH GL ULIHULPHQWR DO OLYHOOR GL SUREDELOLWj SUHVFHOWR GHOOD GLVWULEX]LRQH GL 6WXGHQW FKH
DVLQWRWLFDPHQWHDSSURVVLPDXQDGLVWULEX]LRQHQRUPDOHVWDQGDUGL]]DWD
'LVHJXLWRVRQRULSRUWDWLLYDORULUHODWLYLDOODPDWULFH´&µHDOYDORUHGHO´506(µSHULOVHJXHQWHVWXGLRGLVHWWRUH
FKHXWLOL]]DXQ
XQLFDIXQ]LRQHGLFRPSHQVRRULFDYR
•
:.86WXGLQRWDULOL
'L VHJXLWR VRQR ULSRUWDWL SHU FLDVFXQ FOXVWHU L YDORUL UHODWLYL DOOD PDWULFH ´&µ H DO YDORUH GHO ´506(µ FRQ
ULIHULPHQWRDLVHJXHQWLVWXGLGLVHWWRUH
•
9.86WXGLGLJHRORJLD
•
:.8$WWLYLWjGHLGLVHJQDWRULWHFQLFL
•
:.8$PPLQLVWUD]LRQHGLFRQGRPLQLJHVWLRQHGLEHQLLPPRELOLSHUFRQWRWHU]LHVHUYL]LLQWHJUDWLGLJHVWLRQHDJOL
HGLILFL
•
:.8$WWLYLWjSURIHVVLRQDOHVYROWDGDSVLFRORJL
•
:.8/DERUDWRULGLDQDOLVLFOLQLFKHDWWLYLWjGLODYRURDXWRQRPR
— 278 —
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
Studio di settore WK01U - Matrice per il calcolo dell'intervallo di confidenza
Variabili di regressione
Variabile
REG1
REG2
REG3
REG4
REG5
Descrizione Variabile
Consumi + Altre spese
Spese per prestazioni di lavoro dipendente + Spese per prestazioni di collaborazione coordinata e continuativa + Compensi corrisposti a
terzi per prestazioni direttamente afferenti l'attività professionale e artistica
Ore dedicate allʼattività, differenziale relativo alla territorialità del livello del reddito su base provinciale
Numero riferito a "Costituzione, modifica, scioglimento di società commerciali" ponderato con il relativo compenso medio
Numero riferito a "Costituzione, modifica, scioglimento di associazioni e fondazioni" ponderato con il relativo compenso medio
REG6
Numero riferito a "Stesura di atti a favore di imprese e società relativi alla loro gestione ordinaria" ponderato con il relativo compenso medio
REG7
REG8
REG9
Numero riferito a "Trasferimenti delle proprietà di beni immobili e servizi connessi" ponderato con il relativo compenso medio
Numero riferito a "Mutui e finanziamenti ipotecari" ponderato con il relativo compenso medio
Numero riferito a "Registrazione e pubblicazione di testamenti" ponderato con il relativo compenso medio
— 279 —
Variabile
REG1
REG2
REG3
REG4
REG5
REG6
REG7
REG8
REG9
Variabile
REG1
REG2
REG3
REG4
REG5
REG6
REG7
REG8
REG9
REG1
0,0006163509691620
-0,0001487584700260
-0,0248918083035300
-0,0026679292241510
-0,0135024042991180
-0,0000215672856390
-0,0048463756439520
-0,0003114863670410
0,0022525185572740
REG9
0,0022525185572740
-0,0083626548412350
-3,0441789609282400
-1,2043078847138500
-7,8276821509481200
-0,7601803563866800
-3,9739055889699600
-0,5264869449075800
61,5537276594322000
RMSE
1,00255052
Cluster unico
REG2
REG3
-0,0001487584700260 -0,0248918083035300
0,0002022057004440 -0,0118385684404090
-0,0118385684404090 10,2490986639388000
-0,0034964916457450 -0,0574216827022450
-0,0202287377610220 1,0520606731363400
-0,0005706766557690 -0,0073735061568920
-0,0042333312683230 -0,1046296278077900
0,0016511586880990 0,3796436740686900
-0,0083626548412350 -3,0441789609282400
REG4
REG5
-0,0026679292241510 -0,0135024042991180
-0,0034964916457450 -0,0202287377610220
-0,0574216827022450
1,0520606731363400
3,8131308137487500 -1,9702688542476500
-1,9702688542476500 498,6244152591300000
-0,6672974061661200 -1,8944590155038300
-0,2335378530290200 -1,4613672293520200
-0,5678394596719100 -2,0301550254603300
-1,2043078847138500 -7,8276821509481200
Studio di settore WK01U - Matrice per il calcolo dell'intervallo di confidenza
REG6
-0,0000215672856390
-0,0005706766557690
-0,0073735061568920
-0,6672974061661200
-1,8944590155038300
1,0870706186700700
-0,0349664583014580
-0,6236503645549200
-0,7601803563866800
REG7
REG8
-0,0048463756439520 -0,0003114863670410
-0,0042333312683230 0,0016511586880990
-0,1046296278077900 0,3796436740686900
-0,2335378530290200 -0,5678394596719100
-1,4613672293520100 -2,0301550254603300
-0,0349664583014580 -0,6236503645549200
2,6787556191928300 -3,7355751739232600
-3,7355751739232600 11,5233759924341000
-3,9739055889699600 -0,5264869449075800
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 280 —
Serie generale - n. 301
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
Studio di settore VK29U - Matrice per il calcolo dell'intervallo di confidenza
Variabili di regressione
Variabile
Descrizione Variabile
REG1
REG2
REG3
REG4
REG5
REG6
REG7
Numero riferito alla variabile aggregato n° 1
Numero riferito alla variabile aggregato n° 2
Numero riferito alla variabile aggregato n° 3
Numero riferito alla variabile aggregato n° 4
Numero riferito alla variabile aggregato n° 5
Numero riferito alla variabile aggregato n° 6
Numero riferito alla variabile aggregato n° 7
Numero riferito a "Altri rilevamenti geologici, indagini geotecniche, geofisiche, studi, ricerche e prove di laboratorio" ponderato con il relativo
compenso medio
Numero riferito a "Consulenze in ambito ambientale" ponderato con il relativo compenso medio
Numero riferito a "Consulenza tecnica d'ufficio" ponderato con il relativo compenso medio
Numero riferito a "Stime di georisorse ed idrogeologia" ponderato con il relativo compenso medio
Numero riferito a "Valutazione di impatto ambientale/Valutazione Ambientale Strategica" ponderato con il relativo compenso medio
Numero riferito a "Indagini geognostiche" ponderato con il relativo compenso medio
Numero riferito a "Redazione di carte tematiche" ponderato con il relativo compenso medio
Numero riferito a "Relazioni geologiche/geotecniche e redazione di elaborati tecnici (in ambiti diversi dalla progettazione)" ponderato con il
relativo compenso medio
Numero riferito a "Rilevamenti geologici di superficie e studi fotogeologici" ponderato con il relativo compenso medio
Consumi + Altre spese
Altre spese
Consumi
Spese per prestazioni di lavoro dipendente + Spese per prestazioni di collaborazione coordinata e continuativa + Compensi corrisposti a
terzi per prestazioni direttamente afferenti l'attività professionale e artistica
Ore dedicate allʼattività, differenziale relativo alla territorialità del livello del reddito su base provinciale
Spese per prestazioni di lavoro dipendente + Spese per prestazioni di collaborazione coordinata e continuativa + Compensi corrisposti a
terzi per prestazioni direttamente afferenti l'attività professionale e artistica + Consumi + Altre spese
REG8
REG9
REG10
REG11
REG12
REG13
REG14
REG15
REG16
REG17
REG18
REG19
REG20
REG21
REG22
REG23
Numero riferito a "Progetto preliminare o di massima (importo opere fino a euro 51.646,00)" ponderato con il relativo compenso medio
REG24
Numero riferito a "Progetto definitivo e/o esecutivo (importo opere fino a euro 51.646,00)" ponderato con il relativo compenso medio
REG25
Numero riferito a "Progetto definitivo e/o esecutivo (importo opere oltre euro 51.646,00 e fino a euro 258.228,00)" ponderato con il relativo
compenso medio
REG26
Numero riferito a "Progetto definitivo e/o esecutivo (importo opere oltre euro 258.228,00)" ponderato con il relativo compenso medio
REG27
Numero riferito a "Direzione lavori, assistenza al collaudo, liquidazioni (importo opere fino a euro 51.646,00)" ponderato con il relativo
compenso medio
— 281 —
Variabile
REG1
REG8
REG9
REG11
REG13
REG15
REG18
REG19
REG20
REG21
REG23
REG24
REG25
REG26
Variabile
REG1
REG8
REG9
REG11
REG13
REG15
REG18
REG19
REG20
REG21
REG23
REG24
REG25
REG26
RMSE
1,01230889
REG24
-0,0283855519638110
-0,0258786363195710
-0,0193848351145890
-0,4784700708438300
-0,0171528235754310
-0,0021578355397860
-0,0006402588512270
-0,0063415569919220
-0,0006187003514620
0,0050169777843200
-0,0423460854726680
1,1106489714090600
-0,2954314568911000
-0,1275705047482100
REG13
-0,0296706674730820
-0,1321605311787200
-0,0845182899654500
-0,1390360301508700
2,0353568958271400
-0,0675872229868600
-0,0051784251711670
0,0040136194727370
-0,0028657081402100
0,0067797246976200
-0,0257247454720570
-0,0171528235754310
-0,1016665546841100
0,0666237679901000
REG15
-0,0211805273379310
-0,0278997103153860
-0,0365965294070270
-0,5342061605846800
-0,0675872229868600
0,1820985902861300
-0,0041013192394220
0,0029925031979200
-0,0031288024092740
0,0042419404280400
0,0039016678748150
-0,0021578355397860
0,0446366667574570
-0,0772169804789200
REG25
REG26
-0,0883022027958400 -0,2230537518490300
-0,0844783886878300 -0,0802109056025800
-0,5168395140529600 0,1092606084711500
-1,2854503011589900 0,5966551866002000
-0,1016665546841100 0,0666237679901000
0,0446366667574570 -0,0772169804789200
-0,0078307623876970 -0,0064303078693310
0,0150857308181720 0,0035665345259070
-0,0150938161367480 -0,0146345790710730
0,0048186207458770 0,0305202224553610
0,0028767646878420 -0,0238680275728680
-0,2954314568911000 -0,1275705047482100
8,3277110889980500 -2,3250894921963500
-2,3250894921963500 21,8953034317270000
REG9
REG11
-0,1480695756895400 -0,1135072249841900
-0,0064559240727710 -0,6739432089127900
7,8153226958530100 -1,5416701519976000
-1,5416701519976000 54,4674339180073000
-0,0845182899654500 -0,1390360301508700
-0,0365965294070270 -0,5342061605846800
-0,0039925082451480 -0,0050815431055250
0,0049602113139140 0,0169216194825330
0,0015686131957970 -0,0757388568085400
-0,0049190400680920 0,0756021444804700
0,0071747702506260 -0,3528470328397800
-0,0193848351145890 -0,4784700708438300
-0,5168395140529600 -1,2854503011589900
0,1092606084711500 0,5966551866002000
REG23
-0,0439079045955030
0,0034888844046130
0,0071747702506260
-0,3528470328397800
-0,0257247454720570
0,0039016678748150
0,0000432959801570
-0,0008936894334930
0,0007651034214710
-0,0001138117523680
1,1956799739939600
-0,0423460854726680
0,0028767646878420
-0,0238680275728680
REG8
-0,0273404224671860
1,5841657430398700
-0,0064559240727710
-0,6739432089127900
-0,1321605311787200
-0,0278997103153860
-0,0000176712568810
0,0047333884659510
-0,0066363654621150
-0,0062031797587810
0,0034888844046130
-0,0258786363195710
-0,0844783886878300
-0,0802109056025800
REG21
-0,0002427680182020
-0,0062031797587810
-0,0049190400680920
0,0756021444804700
0,0067797246976200
0,0042419404280400
-0,0214540230379930
-0,0915727391587100
-0,0007160783058440
0,4516308966843900
-0,0001138117523680
0,0050169777843200
0,0048186207458760
0,0305202224553600
REG1
0,3352641434393100
-0,0273404224671860
-0,1480695756895400
-0,1135072249841900
-0,0296706674730820
-0,0211805273379310
-0,0000030221016000
0,0009288768987420
-0,0027449063529100
-0,0002427680182020
-0,0439079045955030
-0,0283855519638110
-0,0883022027958400
-0,2230537518490300
REG20
-0,0027449063529100
-0,0066363654621150
0,0015686131957970
-0,0757388568085400
-0,0028657081402100
-0,0031288024092740
-0,0031060146009830
-0,0081538439196030
0,0180233794107120
-0,0007160783058440
0,0007651034214710
-0,0006187003514620
-0,0150938161367480
-0,0146345790710730
Cluster 1
Studio di settore VK29U - Matrice per il calcolo dell'intervallo di confidenza
REG18
-0,0000030221016000
-0,0000176712568810
-0,0039925082451480
-0,0050815431055250
-0,0051784251711670
-0,0041013192394220
0,0124924783635970
-0,0143464363211430
-0,0031060146009830
-0,0214540230379930
0,0000432959801570
-0,0006402588512270
-0,0078307623876960
-0,0064303078693310
REG19
0,0009288768987420
0,0047333884659510
0,0049602113139140
0,0169216194825330
0,0040136194727370
0,0029925031979200
-0,0143464363211430
0,0986808478702700
-0,0081538439196030
-0,0915727391587100
-0,0008936894334930
-0,0063415569919220
0,0150857308181710
0,0035665345259060
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 282 —
Serie generale - n. 301
Variabile
REG2
REG8
REG15
REG16
REG21
REG22
REG23
RMSE
1,00892795
Cluster 2
REG2
0,1331661820434600
-0,0254653640846390
-0,0340705922580920
-0,0510632546131820
0,0010712534368590
-0,0019716858292350
-0,0102765089834380
REG8
-0,0254653640846390
1,7279046401875500
-0,1607889118289000
-0,1219891063401500
-0,0044816948568550
0,0001096621879650
0,0012903395875160
REG15
-0,0340705922580920
-0,1607889118289000
0,5042485235427000
-0,1417129252343900
-0,0070852145911180
-0,0012825055740430
-0,0019119914177540
REG16
-0,0510632546131820
-0,1219891063401500
-0,1417129252343900
12,1879404617829000
-0,0356164963597410
-0,0083925104911560
-0,0043211016812460
Studio di settore VK29U - Matrice per il calcolo dell'intervallo di confidenza
REG21
0,0010712534368590
-0,0044816948568550
-0,0070852145911180
-0,0356164963597410
1,6492405149021300
-0,1140634539673100
0,0143998355633920
REG22
-0,0019716858292350
0,0001096621879650
-0,0012825055740430
-0,0083925104911560
-0,1140634539673100
0,0151700832636760
-0,0033525973981890
REG23
-0,0102765089834380
0,0012903395875160
-0,0019119914177540
-0,0043211016812460
0,0143998355633920
-0,0033525973981890
0,6537572093135700
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 283 —
Serie generale - n. 301
Variabile
REG3
REG8
REG9
REG15
REG21
REG22
RMSE
1,06670136
Cluster 3
REG3
0,0546405970679570
-0,1018855289917100
-0,0076837269882480
-0,0690135056189000
0,0941082990348200
-0,0075144010933640
REG8
-0,1018855289917100
3,2079037033315900
-0,0500365857916390
-0,0165804526727100
-0,0759894017029300
0,0022183798411310
REG9
REG15
REG21
REG22
-0,0076837269882480 -0,0690135056189000 0,0941082990348200 -0,0075144010933640
-0,0500365857916390 -0,0165804526727100 -0,0759894017029300 0,0022183798411310
1,3253611542094300 0,0073574763413680 1,1507596890284100 -0,0932704840140800
0,0073574763413680 1,3702931555825400 -0,1897358893702900 0,0023550705042090
1,1507596890284100 -0,1897358893702900 5,5828678297372100 -0,3319297833728000
-0,0932704840140800 0,0023550705042090 -0,3319297833728000 0,0249958832517330
Studio di settore VK29U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 284 —
Serie generale - n. 301
Variabile
REG4
REG9
REG15
REG21
REG22
RMSE
1,02927534
Cluster 4
REG4
0,2539224601489500
-0,1475708938059300
-0,1947678286466600
-0,0021819685465660
-0,0001398522699040
REG9
-0,1475708938059300
1,8989438860044300
-0,5209790933672200
0,0882229604710900
-0,0159207187530770
REG15
REG21
REG22
-0,1947678286466600 -0,0021819685465660 -0,0001398522699040
-0,5209790933672200 0,0882229604710900 -0,0159207187530770
9,1197528303117700 0,0749950518575100 -0,0187122997452810
0,0749950518575100 0,9338800711129700 -0,0513247520068880
-0,0187122997452810 -0,0513247520068880 0,0058799622866050
Studio di settore VK29U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 285 —
Serie generale - n. 301
Variabile
REG5
REG15
REG21
REG22
RMSE
1,02569873
Cluster 5
REG5
0,2779131292941200
-0,1918348231796000
-0,1604110962753600
-0,0376978272632230
REG15
REG21
-0,1918348231796000 -0,1604110962753600
7,8268299365318600 0,2241930444119100
0,2241930444119100 56,9204642449132000
-0,2034040738092400 -2,3008016167033900
REG22
-0,0376978272632230
-0,2034040738092400
-2,3008016167033900
0,2452876134685200
Studio di settore VK29U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 286 —
Serie generale - n. 301
— 287 —
Variabile
REG6
REG8
REG9
REG10
REG11
REG12
REG13
REG14
REG15
REG16
REG17
REG20
REG21
REG23
REG24
REG25
REG26
REG27
Variabile
REG6
REG8
REG9
REG10
REG11
REG12
REG13
REG14
REG15
REG16
REG17
REG20
REG21
REG23
REG24
REG25
REG26
REG27
RMSE
1,00501045
Pag 1
REG17
-0,0078777920760630
-0,0016510014614120
-0,0082371186557940
-0,0049192585502010
-0,0047637568523810
-0,0095325994392260
-0,0007248913458970
-0,0158762867253650
-0,0032504861546430
0,0010296758696170
0,0055161781787340
-0,0008133582883720
-0,0403145020070630
-0,0021258206836240
-0,0070643811072340
0,0007474155703870
-0,0338753894663710
-0,0001829510445650
REG20
-0,0012862088926840
-0,0034799123994600
0,0015316559288040
0,0018813449820710
-0,0026723672503560
-0,0483311879585320
0,0056838622034540
-0,0564729617468010
-0,0080792547358110
0,0073902914916560
-0,0008133582883720
0,0035698808082650
-0,0029932890602760
-0,0048748563646030
0,0033352059520560
0,0033111440330180
0,0172628760039040
-0,0003733140439870
REG12
REG13
-2,2006411716495100 0,0635827980927700
-0,8236490340553500 -0,8534183468803600
-8,9932837541967900 0,2814421573056600
-4,0637062900789100 -0,3029433902674100
-1,4160068522339700 -4,2063321735049900
457,7800086658720000 -0,9848044716396900
-0,9848044716396900 17,3833771908790000
-19,2807261405253000 0,7168295918408200
-1,9409733501158500 -2,5035919251834400
0,1454450336443100 -1,6955604361793700
-0,0095325994392260 -0,0007248913458970
-0,0483311879585320 0,0056838622034540
0,0350155553663980 0,0093745129931240
-0,8183229093672500 -0,1308694647117400
-2,9141711208557400 -0,0469763022881210
-7,3652225376092100 -0,9457369400222700
-26,1788461633783000 0,8251929017778400
0,1136083120967600 -0,2860795011855700
REG14
-0,6661270420693000
-1,3433722260785500
-0,7779810690922500
-0,1654883231564000
-10,9595518454041000
-19,2807261405253000
0,7168295918408200
243,5202804072040000
-3,5443957712087300
-0,8421184584875700
-0,0158762867253650
-0,0564729617468010
0,1153096158131900
-1,3486091278437200
-7,5764426256140500
-23,4347090158352000
-12,7105192166074000
-0,1635783121256200
REG21
REG23
REG24
REG25
0,0318929098821240 -0,3380183972006900 -0,4721130156798200
-1,8583073390776700
-0,0025678823587670 -0,2637090863791400 -0,1703666380836500
-1,1088074011449300
0,0149487535634400 0,0932573338302700 -1,0771505954377900
-0,8738762164023600
0,0080522489689610 -0,9873909274962000 -0,0637173421448300
0,4419636052134500
0,0047334540936040 -2,1605446544921500 -3,0008112852453400
-2,1474764527153700
0,0350155553663980 -0,8183229093672500 -2,9141711208557400
-7,3652225376092100
0,0093745129931240 -0,1308694647117400 -0,0469763022881210
-0,9457369400222700
0,1153096158131900 -1,3486091278437200 -7,5764426256140500 -23,4347090158352000
-0,0066138041981840 0,0774048913376100 -0,0439975066049990
-0,0223173481753150
-0,0224224745984240 -2,6635184759092200 -2,2656826424677000
-4,3942251210004300
-0,0403145020070630 -0,0021258206836240 -0,0070643811072340
0,0007474155703870
-0,0029932890602760 -0,0048748563646030 0,0033352059520560
0,0033111440330180
0,6381044025061500 0,0000946196913860 0,0004346611520100
-0,0377905335359520
0,0000946196913860 20,4174009853150000 -2,3984998105283700
-0,4123820767045400
0,0004346611520100 -2,3984998105283700 19,7012999957666000
-2,6355388338503400
-0,0377905335359520 -0,4123820767045400 -2,6355388338503400 205,8497016022940000
0,1780110192516100 2,2076139006951400 -5,0980320840211100 -70,2332023851272000
-0,0043361667271370 -0,5278067660619000 -0,6979182102614100
-0,0165343170698930
REG6
REG8
REG9
REG10
REG11
5,4649034426866100 -0,1876653567982000 -0,2532900507051300 -0,6527168236441400 -0,9335161789148400
-0,1876653567982000 12,3440234308224000 -1,0435454052923100 -0,9208472059028100 -1,6449260021038400
-0,2532900507051300 -1,0435454052923100 19,9878964147342000 -0,1874192335320200 -1,5323183586409100
-0,6527168236441400 -0,9208472059028100 -0,1874192335320200 78,5949615269635000 -0,7566327947120700
-0,9335161789148400 -1,6449260021038400 -1,5323183586409100 -0,7566327947120700 77,0847062322769000
-2,2006411716495100 -0,8236490340553500 -8,9932837541967900 -4,0637062900789100 -1,4160068522339700
0,0635827980927700 -0,8534183468803600 0,2814421573056600 -0,3029433902674100 -4,2063321735049900
-0,6661270420693000 -1,3433722260785500 -0,7779810690922500 -0,1654883231564000 -10,9595518454041000
-0,4770163727527800 -0,5023728082016700 -1,0065910489429300 -0,7781950743521900 -1,7651965702299100
-0,3641464216610300 -7,3921952948421800 -0,4914906914813000 0,9568291389464300 -2,3947581462932200
-0,0078777920760630 -0,0016510014614120 -0,0082371186557940 -0,0049192585502010 -0,0047637568523810
-0,0012862088926840 -0,0034799123994600 0,0015316559288040 0,0018813449820710 -0,0026723672503560
0,0318929098821230 -0,0025678823587670 0,0149487535634400 0,0080522489689610
0,0047334540936040
-0,3380183972006900 -0,2637090863791400 0,0932573338302700 -0,9873909274962000 -2,1605446544921500
-0,4721130156798200 -0,1703666380836500 -1,0771505954377900 -0,0637173421448300 -3,0008112852453400
-1,8583073390776700 -1,1088074011449300 -0,8738762164023600 0,4419636052134500 -2,1474764527153700
-8,3487887017034000 -3,9043999395773400 -0,0535154822805780 1,0633469570967100 -11,1944826769331000
-0,0029823657422450 0,0425972225271220 -0,3961141442354500 0,0367849913425070 -0,9172389590677400
REG15
REG16
-0,4770163727527800
-0,3641464216610300
-0,5023728082016700
-7,3921952948421800
-1,0065910489429300
-0,4914906914813000
-0,7781950743521900
0,9568291389464300
-1,7651965702299100
-2,3947581462932200
-1,9409733501158500
0,1454450336443100
-2,5035919251834400
-1,6955604361793700
-3,5443957712087300
-0,8421184584875700
4,2906821894458900
-1,5025135507631800
-1,5025135507631800 204,7569599751830000
-0,0032504861546430
0,0010296758696170
-0,0080792547358110
0,0073902914916560
-0,0066138041981840
-0,0224224745984240
0,0774048913376100
-2,6635184759092200
-0,0439975066049990
-2,2656826424677000
-0,0223173481753150
-4,3942251210004400
0,1899960555418700
-6,6012335685940000
-0,1408696986390500
-1,3892284802336300
Cluster 6
Studio di settore VK29U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
Serie generale - n. 301
Variabile
REG6
REG8
REG9
REG10
REG11
REG12
REG13
REG14
REG15
REG16
REG17
REG20
REG21
REG23
REG24
REG25
REG26
REG27
Pag 2
REG26
REG27
-8,3487887017034000 -0,0029823657422450
-3,9043999395773400 0,0425972225271220
-0,0535154822805780 -0,3961141442354500
1,0633469570967100 0,0367849913425070
-11,1944826769331000 -0,9172389590677400
-26,1788461633783000 0,1136083120967600
0,8251929017778400 -0,2860795011855700
-12,7105192166074000 -0,1635783121256200
0,1899960555418700 -0,1408696986390500
-6,6012335685940000 -1,3892284802336300
-0,0338753894663710 -0,0001829510445650
0,0172628760039040 -0,0003733140439870
0,1780110192516100 -0,0043361667271370
2,2076139006951400 -0,5278067660619000
-5,0980320840211100 -0,6979182102614100
-70,2332023851272000 -0,0165343170698930
746,4243031336600000 0,5850063303975800
0,5850063303975800 37,9310825880673000
Cluster 6
Studio di settore VK29U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 288 —
Serie generale - n. 301
Variabile
REG7
REG8
REG15
REG21
REG22
REG23
REG24
RMSE
1,00570546
Cluster 7
REG7
0,0832654865381100
-0,0242253382386900
-0,0367923742040710
0,0566739377470170
-0,0194861622177090
-0,0060784141758550
-0,1121376620970500
REG8
-0,0242253382386900
1,9737005155727200
-0,0709882936476700
-0,1642170244963100
0,0083217618255600
0,0037760863815090
0,0249509480078520
REG15
-0,0367923742040710
-0,0709882936476700
0,4286122104704800
0,0037923163574590
-0,0016258040422480
-0,0182849818037310
-0,0097789121608760
REG21
REG22
REG23
REG24
0,0566739377470170 -0,0194861622177090 -0,0060784141758550 -0,1121376620970500
-0,1642170244963100 0,0083217618255600 0,0037760863815090 0,0249509480078520
0,0037923163574590 -0,0016258040422480 -0,0182849818037310 -0,0097789121608760
24,6126098101849000 -0,6254025175684400 -0,0098839149856240 -0,8319772530329300
-0,6254025175684500 0,0348226648012930 0,0018334464304200 0,0374383635918190
-0,0098839149856240 0,0018334464304200 0,7230134705476700 -0,0002699621021020
-0,8319772530329400 0,0374383635918200 -0,0002699621021020 3,5703324257069600
Studio di settore VK29U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 289 —
Serie generale - n. 301
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
Variabili di regressione - attività di lavoro autonomo
Variabile
REG1
REG2
REG3
REG4
REG5
REG6
REG7
REG8
REG9
REG10
REG11
Descrizione Variabile
Consumi + Altre spese
Numero di incarichi riferito a “Esecuzione di illustrazioni/bozzetti/fumetti”
Numero di incarichi riferito a “Esecuzione di disegni tecnici (CAD, ecc.)”
Numero di incarichi riferito a “Esecuzione di progetti grafici”
Numero di incarichi riferito a “Progettazione (inclusa la consulenza sulla produzione e cura dei materiali) grafica”
Numero di incarichi riferito a “Progettazione (inclusa la consulenza sulla produzione e cura dei materiali) industriale”
Spese per prestazioni di lavoro dipendente + Spese per prestazioni di collaborazione coordinata e continuativa + Compensi corrisposti a
terzi per prestazioni direttamente afferenti l'attività professionale e artistica
Ore dedicate all'attività: Età professionale fino a 10 anni
Ore dedicate all'attività: Età professionale fino a 5 anni
Ore dedicate all'attività
Valore dei beni strumentali mobili
— 290 —
Variabile
REG1
REG3
REG5
REG6
REG7
REG8
REG10
REG11
RMSE
1,00194954
REG1
REG3
REG5
REG6
0,0026308852449320 -0,0040490007853860 -0,0601144026281220
-0,0429734912173020
-0,0040490007853860 24,7285134135637000
8,9556223322760300 -11,2213305385730000
-0,0601144026281220 8,9556223322760300 559,4174513094710000
18,8783919174673000
-0,0429734912173020 -11,2213305385730000 18,8783919174673000 1031,2082980159800000
-0,0001858991241830 -0,0000447452975880
0,0091083143552390
0,0150598006943790
-0,0000943400425310 0,0325028803875390 -0,0475482096722700
-0,2034402950542000
-0,0050252624438970 -0,2247529409759800 -0,6531092803161700
-0,2910992285455100
-0,0002064697068370 -0,0013533316512250 -0,0077477601026920
-0,0035072679045350
Cluster 1 - attività di lavoro autonomo
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
REG7
-0,0001858991241830
-0,0000447452975880
0,0091083143552390
0,0150598006943790
0,0008529077290080
-0,0007458424018790
0,0018720702676610
-0,0002316753618200
REG8
-0,0000943400425310
0,0325028803875390
-0,0475482096722700
-0,2034402950542000
-0,0007458424018790
0,0699223717713100
-0,0472065014224060
0,0010280990378780
REG10
-0,0050252624438970
-0,2247529409759800
-0,6531092803161700
-0,2910992285455100
0,0018720702676610
-0,0472065014224060
0,0696404171121200
-0,0017381310970760
REG11
-0,0002064697068370
-0,0013533316512250
-0,0077477601026920
-0,0035072679045350
-0,0002316753618200
0,0010280990378780
-0,0017381310970760
0,0002822006678750
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 291 —
Serie generale - n. 301
Variabile
REG1
REG3
REG4
REG6
REG7
REG10
RMSE
1,00678068
REG1
REG3
REG4
REG6
REG7
REG10
0,0091578742186060
-0,2994260546870000
0,1584127421214700
1,8094292950800900 -0,0025085707294170 -0,0327145086669080
-0,2994260546870000 1001,6347784072500000
60,2315539499207000
-67,9097171250293000 0,2060808098846600 -3,0681790135422300
0,1584127421214600
60,2315539499206000 1392,6850822520600000
650,0069492640070000 -0,3416229002194400 -5,9831670133431200
1,8094292950800900 -67,9097171250294000 650,0069492640080000 83880,8750832191000000 -1,9057775331804100 -28,2746170496010000
-0,0025085707294170
0,2060808098846600
-0,3416229002194400
-1,9057775331804100 0,0070953954319770 -0,0016320879153380
-0,0327145086669080
-3,0681790135422300
-5,9831670133431300
-28,2746170496010000 -0,0016320879153380
0,3060089456309900
Cluster 2 - attività di lavoro autonomo
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 292 —
Serie generale - n. 301
Variabile
REG1
REG3
REG6
REG7
REG10
RMSE
1,01588028
REG1
0,0159315949083840
0,1751358336357400
-1,7045287656542500
-0,0034701509992740
-0,0659744648650100
REG3
REG6
0,1751358336357400
-1,7045287656542500
530,0649362105600000
-407,9844868767020000
-407,9844868767020000 13945,4909894347000000
-0,0191241333517070
-0,4577398794493300
-8,3709838372311100
-5,3596415835382500
Cluster 3 - attività di lavoro autonomo
REG7
REG10
-0,0034701509992740 -0,0659744648650100
-0,0191241333517070 -8,3709838372311000
-0,4577398794493300 -5,3596415835382500
0,0056093719484070 0,0038035876839960
0,0038035876839960 0,6721307059924300
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 293 —
Serie generale - n. 301
Variabile
REG1
REG3
REG4
REG7
REG9
REG10
REG11
RMSE
1,01775988
REG1
REG3
REG4
REG7
0,0143376824739660
-0,7518010118973900
-2,7879266693671900 -0,0026064235147190
-0,7518010118973900 1659,8832291504900000
462,3209435581710000 -0,2074260633438100
-2,7879266693671900 462,3209435581710000 14664,5388898812000000 1,0777716051291200
-0,0026064235147190
-0,2074260633438100
1,0777716051291200 0,0034178083827770
0,0029891906165660
1,9008231974418100
-1,6703511405163600 0,0003678847513980
-0,0259587618407050
-9,5196917847523900
-5,9684615286022600 0,0062658946302450
-0,0007078277221990
0,0293728625497220
-0,4091768025594200 -0,0004873312278840
Cluster 4 - attività di lavoro autonomo
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
REG9
0,0029891906165660
1,9008231974417900
-1,6703511405163800
0,0003678847513980
0,6881285630772500
-0,2142801493486700
0,0059025251633850
REG10
-0,0259587618407050
-9,5196917847523900
-5,9684615286022500
0,0062658946302450
-0,2142801493486700
0,3656845827646100
-0,0091371640218270
REG11
-0,0007078277221990
0,0293728625497220
-0,4091768025594200
-0,0004873312278840
0,0059025251633850
-0,0091371640218270
0,0013131550394560
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 294 —
Serie generale - n. 301
Variabile
REG1
REG4
REG5
REG7
REG10
REG11
RMSE
1,00511756
REG1
REG4
REG5
REG7
REG10
0,0054121413523270 -0,0849309789297100 -0,0911754899897200 -0,0008846150177420 -0,0158876818873600
-0,0849309789297100 200,1916175073580000 -47,3600036933173000 -0,0264107491443480 -1,1510998997763300
-0,0911754899897200 -47,3600036933173000 455,2685023196160000 0,0433493746985870 -2,3389416894908900
-0,0008846150177420 -0,0264107491443480
0,0433493746985870 0,0030752305392310 -0,0008640982716370
-0,0158876818873600 -1,1510998997763300 -2,3389416894908900 -0,0008640982716370 0,2036969559141600
-0,0004292826704910 -0,0122675788183630
0,0065569232659200 -0,0001974380048850 -0,0051138387475660
Cluster 5 - attività di lavoro autonomo
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
REG11
-0,0004292826704910
-0,0122675788183630
0,0065569232659200
-0,0001974380048850
-0,0051138387475660
0,0008795920261590
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 295 —
Serie generale - n. 301
Variabile
REG1
REG7
REG10
REG11
RMSE
1,03499700
REG1
REG7
REG10
REG11
0,0523637604721380 -0,0021637997706240 -0,1691561387313200 -0,0005594742945510
-0,0021637997706240 0,0033876052981030 -0,0096159507416520 0,0000850455784420
-0,1691561387313200 -0,0096159507416520 1,4130197613167000 -0,0362580158974150
-0,0005594742945510 0,0000850455784420 -0,0362580158974150 0,0041093098962700
Cluster 6 - attività di lavoro autonomo
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 296 —
Serie generale - n. 301
Variabile
REG1
REG2
REG7
REG10
RMSE
1,02598671
REG1
REG2
0,0096844538494820
-0,4119752948069600
-0,4119752948069600 269,6090128007670000
-0,0030205199808580
-0,7366404792990400
-0,0339252656641210
-4,5778689346232600
Cluster 7 - attività di lavoro autonomo
REG7
-0,0030205199808580
-0,7366404792990400
0,0117342304854360
0,0092241034738300
REG10
-0,0339252656641210
-4,5778689346232600
0,0092241034738300
0,6617988581749000
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 297 —
Serie generale - n. 301
Variabile
REG1
REG5
REG6
REG7
REG10
REG11
RMSE
1,02676852
REG1
REG5
REG6
REG7
REG10
0,0324853981175340
-0,4548198736876600
-2,1919708854835800 -0,0052853666986120 -0,0688479462226900
-0,4548198736876600 5539,2377351071800000
930,4389756765780000 0,1091531637811600 -17,4207026531579000
-2,1919708854835800 930,4389756765780000 21130,2454450625000000 0,6265010272289600 -12,6578677354606000
-0,0052853666986120
0,1091531637811600
0,6265010272289600 0,0011325666182010
0,0148349723074040
-0,0688479462226900 -17,4207026531579000
-12,6578677354606000 0,0148349723074040
0,7127273321799500
-0,0035962570850440
0,2280693779416400
-0,2554814671756400 0,0000213223556820 -0,0164664034534140
Cluster 8 - attività di lavoro autonomo
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
REG11
-0,0035962570850440
0,2280693779416400
-0,2554814671756400
0,0000213223556820
-0,0164664034534140
0,0027146757040220
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 298 —
Serie generale - n. 301
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
Variabili di regressione - attività d'impresa
Descrizione Variabile
Variabile
REG1
REG2
REG3
REG4
REG5
REG6
REG7
REG8
REG9
REG10
Altri costi per servizi + Costo per beni mobili acquisiti in dipendenza di contratti di locazione non finanziaria e di noleggio + Abbonamenti a
riviste e giornali, acquisto di libri, spese per cancelleria + Spese per omaggio a clienti ed articoli promozionali
Spese per acquisti di servizi - Compensi corrisposti ai soci per lʼattività di amministratore (società ed enti soggetti allʼIres)
Spese per lavoro dipendente e per altre prestazioni diverse da lavoro dipendente afferenti l'attività dell'impresa - Compensi corrisposti ai
soci per l'attività di amministratore (società di persone)
CVPROD
CVPROD + Spese per acquisti di servizi - Compensi corrisposti ai soci per lʼattività di amministratore (società ed enti soggetti all'Ires)
Numero di incarichi riferito a “Esecuzione di disegni tecnici (CAD, ecc.)”
Numero di incarichi riferito a “Esecuzione di progetti grafici”
Numero di incarichi riferito a “Progettazione (inclusa la consulenza sulla produzione e cura dei materiali) grafica”
Numero di incarichi riferito a “Progettazione (inclusa la consulenza sulla produzione e cura dei materiali) industriale”
Ore dedicate all'attività
REG11
Spese per acquisti di servizi - Compensi corrisposti ai soci per lʼattività di amministratore (società ed enti soggetti allʼIres) + Altri costi per
servizi + Costo per beni mobili acquisiti in dipendenza di contratti di locazione non finanziaria e di noleggio + Abbonamenti a riviste e
giornali, acquisto di libri, spese per cancelleria + Spese per omaggio a clienti ed articoli promozionali
REG12
REG13
COSTI TOTALI
Valore beni strumentali mobili
— 299 —
Variabile
REG1
REG3
REG5
REG6
REG9
REG10
REG13
RMSE
1,00584555
REG1
0,0027024441194290
-0,0002363459699790
-0,0001800871405950
0,0082878270869770
-0,4456079537515000
-0,0042517796174190
-0,0001162292469700
Cluster 1 - attività d'impresa
REG3
-0,0002363459699790
0,0001967890279800
-0,0000071776529000
-0,0079093567121880
-0,1358852386871200
0,0009113509145620
-0,0000840427524450
REG5
REG6
REG9
REG10
-0,0001800871405950
0,0082878270869770
-0,4456079537515000 -0,0042517796174190
-0,0000071776529000 -0,0079093567121880
-0,1358852386871200 0,0009113509145620
0,0001419204844350 -0,0050024572983000
0,0380907260469110 -0,0002113343775980
-0,0050024572983000 196,0348441266260000
-86,7038441660544000 -1,6429350434371000
0,0380907260469110 -86,7038441660544000 9642,5741809520700000 -5,4780966813654900
-0,0002113343775980 -1,6429350434371000
-5,4780966813654900 0,2636316617201400
-0,0000272643403530 -0,0007220998990630
-0,0385967146354970 -0,0034010525002350
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
REG13
-0,0001162292469700
-0,0000840427524450
-0,0000272643403530
-0,0007220998990630
-0,0385967146354970
-0,0034010525002350
0,0002856299623550
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 300 —
Serie generale - n. 301
Variabile
REG1
REG2
REG3
REG4
REG6
REG7
REG10
REG13
RMSE
1,01799747
REG1
0,0023415775464170
-0,0005344871384010
-0,0001725363195080
-0,0000880950156910
-0,0704856307901800
-0,0413389209983800
-0,0019084149981090
-0,0002778814255990
REG2
-0,0005344871384010
0,0022799594878680
-0,0000200422601750
-0,0000251184731050
0,0289846292816370
0,0173282993896660
-0,0051817251520350
-0,0000854841877720
Cluster 2 - attività d'impresa
REG3
-0,0001725363195080
-0,0000200422601750
0,0001627765151870
0,0000269998700930
-0,0039044206069920
0,0230726738058210
0,0007269245789720
-0,0000936140677340
REG4
REG6
REG7
-0,0000880950156910
-0,0704856307901800
-0,0413389209983800
-0,0000251184731050
0,0289846292816370
0,0173282993896660
0,0000269998700930
-0,0039044206069920
0,0230726738058210
0,0003107216021720
0,0677641046952000
-0,2382598169468200
0,0677641046952000 2174,0936029589500000 43,6166071800312000
-0,2382598169468200
43,6166071800312000 806,6580047680190000
-0,0007751732692180
-8,2787551360259600
-3,9479966085402300
-0,0001653664759040
-0,0751215751063200
-0,0095582516874220
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
REG10
-0,0019084149981090
-0,0051817251520350
0,0007269245789720
-0,0007751732692180
-8,2787551360259600
-3,9479966085402300
1,1451923384748700
-0,0057622392450860
REG13
-0,0002778814255990
-0,0000854841877720
-0,0000936140677340
-0,0001653664759040
-0,0751215751063200
-0,0095582516874220
-0,0057622392450860
0,0004124453899960
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 301 —
Serie generale - n. 301
Variabile
REG1
REG2
REG3
REG4
REG6
REG10
REG13
RMSE
1,01219947
REG1
0,0037411093815950
0,0002801486031300
-0,0004098432174270
-0,0002567609395140
-0,0037944994455950
-0,0092213399378300
-0,0003467149557930
Cluster 3 - attività d'impresa
REG2
0,0002801486031300
0,0003977846079750
-0,0000930120788600
0,0000363121587270
0,0072567613791090
0,0065927124040440
-0,0003079037582440
REG3
-0,0004098432174270
-0,0000930120788600
0,0006477493885240
-0,0000511799911260
-0,0970164755538400
0,0070656402697200
-0,0006382960014370
REG4
REG6
REG10
-0,0002567609395140
-0,0037944994455950 -0,0092213399378300
0,0000363121587270
0,0072567613791090 0,0065927124040440
-0,0000511799911260
-0,0970164755538400 0,0070656402697200
0,0003731333462930
-0,0091283537131430 -0,0001771007805660
-0,0091283537131430 594,7168800580600000 -8,1386948595150100
-0,0001771007805660
-8,1386948595150100 2,4290436287740500
-0,0000485326104330
-0,0277160977505150 -0,0284739920615230
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
REG13
-0,0003467149557930
-0,0003079037582440
-0,0006382960014370
-0,0000485326104330
-0,0277160977505150
-0,0284739920615230
0,0017908228921900
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 302 —
Serie generale - n. 301
Variabile
REG1
REG2
REG3
REG4
REG6
REG10
REG13
RMSE
1,04601667
REG1
0,0088431049186650
-0,0053685377603500
0,0002895769327530
-0,0012943220049250
0,0206088007271320
-0,0301982003224890
-0,0008897198418720
REG2
-0,0053685377603500
0,0288541206653600
-0,0000681743942760
-0,0008804841368450
0,4155000324746900
-0,0480388616242120
-0,0025384284171280
Cluster 4 - attività d'impresa
REG3
0,0002895769327530
-0,0000681743942760
0,0017147913325020
-0,0015815479338440
0,0651537608003400
-0,0007924110571110
-0,0011935633503620
REG4
REG6
REG10
-0,0012943220049250
0,0206088007271320 -0,0301982003224890
-0,0008804841368450
0,4155000324746900 -0,0480388616242120
-0,0015815479338440
0,0651537608003400 -0,0007924110571110
0,0062986339479780
-0,1306627265263300
0,0009389090031890
-0,1306627265263300 1812,9304905871600000 -24,4391550333881000
0,0009389090031890 -24,4391550333881000
3,7990117706124800
0,0010671796501160
-0,2917763628441800 -0,0242829077905860
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
REG13
-0,0008897198418720
-0,0025384284171280
-0,0011935633503620
0,0010671796501160
-0,2917763628441800
-0,0242829077905860
0,0026772109506700
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 303 —
Serie generale - n. 301
Variabile
REG1
REG2
REG3
REG4
REG7
REG8
REG10
REG13
RMSE
1,00943225
REG1
0,0014696041771300
0,0000036753472410
-0,0002081648574800
-0,0001019364845120
-0,1123195704132800
-0,0154705328713400
-0,0017766139998510
-0,0000233170698320
REG2
0,0000036753472410
0,0003718440613930
-0,0000157737955220
-0,0000230982429460
-0,0022745102875450
-0,0138123857129390
-0,0004432893725810
-0,0000276204238410
Cluster 5 - attività d'impresa
REG3
-0,0002081648574800
-0,0000157737955220
0,0002534161529420
-0,0000191035769760
0,0090402522081540
-0,0014130442852490
0,0001955795293910
-0,0000554252650320
REG4
REG7
REG8
-0,0001019364845120 -0,1123195704132800 -0,0154705328713400
-0,0000230982429460 -0,0022745102875450 -0,0138123857129390
-0,0000191035769760
0,0090402522081540 -0,0014130442852490
0,0002002448083930 -0,0144831028367530 -0,0354707017020790
-0,0144831028367530 216,2748915816220000 -6,8380305681402700
-0,0354707017020790 -6,8380305681402800 159,4375300491280000
-0,0005885697078400 -1,4781837775202000 -1,8401832423298900
-0,0000414488834550 -0,0166921555524580
0,0016387411441350
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
REG10
-0,0017766139998510
-0,0004432893725810
0,0001955795293910
-0,0005885697078400
-1,4781837775202000
-1,8401832423298900
0,2634685631677600
-0,0013599620426430
REG13
-0,0000233170698320
-0,0000276204238410
-0,0000554252650320
-0,0000414488834550
-0,0166921555524580
0,0016387411441350
-0,0013599620426430
0,0001147667689840
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 304 —
Serie generale - n. 301
Variabile
REG1
REG2
REG3
REG4
REG10
RMSE
1,10492345
REG1
REG2
REG3
0,0156485287272890 -0,0014160591138010 -0,0008451320215630
-0,0014160591138010 0,0573770456704560 -0,0049520167162010
-0,0008451320215630 -0,0049520167162010 0,0012724587920350
0,0020444685866870 0,0047273375275900 -0,0028167600726570
-0,1046047561676000 -0,2072623913392000 0,0222610639460230
Cluster 6 - attività d'impresa
REG4
0,0020444685866870
0,0047273375275900
-0,0028167600726570
0,0128848164888910
-0,0989325437633200
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
REG10
-0,1046047561676000
-0,2072623913392000
0,0222610639460230
-0,0989325437633200
7,6645441439330000
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 305 —
Serie generale - n. 301
Variabile
REG10
REG12
RMSE
1,02593652
REG10
REG12
3,7090768942923000 -0,1664787897870100
-0,1664787897870100 0,0182581124369830
Cluster 7 - attività d'impresa
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 306 —
Serie generale - n. 301
Variabile
REG3
REG4
REG6
REG7
REG10
REG11
RMSE
1,06533134
REG3
0,0130424551554420
-0,0016408224583750
-0,2090533059234300
-6,8695412997160400
-0,0295040940885860
-0,0022701332222040
REG4
REG6
-0,0016408224583750
-0,2090533059234300
0,0041730151124980
1,3673420006490700
1,3673420006490700 23066,4200150736000000
1,8041930840876300 2140,4189567028900000
-0,0318400798333090
-106,1490178573190000
-0,0007554579255540
-0,5937524628713700
Cluster 8 - attività d'impresa
REG7
-6,8695412997160400
1,8041930840876300
2140,4189567028900000
18212,1157476251000000
-37,7754478718228000
-2,6583426666586500
Studio di settore WK08U - Matrice per il calcolo dell'intervallo di confidenza
REG10
-0,0295040940885860
-0,0318400798333090
-106,1490178573190000
-37,7754478718228000
3,4470740191529000
-0,0686092121576000
REG11
-0,0022701332222040
-0,0007554579255540
-0,5937524628713700
-2,6583426666586500
-0,0686092121576000
0,0118739466987750 30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 307 —
Serie generale - n. 301
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
Studio di settore WK16U - Matrice per il calcolo dell'intervallo di confidenza
Variabili di regressione - attività di lavoro autonomo
Descrizione Variabile
Variabile
REG1
REG2
REG3
REG4
REG5
REG6
Consumi + Altre spese
Consumi + Altre spese, quota fino a 15.000 euro
Numero di Condomìni fino a 30 unità immobiliari: box che non costituiscono pertinenze delle unità immobiliari ai righi precedenti
Numero di Condomìni con oltre 30 unità immobiliari: box che non costituiscono pertinenze delle unità immobiliari ai righi precedenti
di Unità immobiliari gestite (esclusi i terreni)
Spese per prestazioni di lavoro dipendente + Spese per prestazioni di collaborazione coordinata e continuativa + Compensi corrisposti a
terzi per prestazioni direttamente afferenti l'attività professionale e artistica
REG7
Totale box non di pertinenza amministrati
REG8
Totale spese, quota fino a 10.000 euro
REG9
Condomìni fino a 30 unità immobiliari: Unità immobiliari amministrate
REG10
Condomìni con oltre 30 unità immobiliari: Unità immobiliari amministrate
REG11
Totale condomìni amministrati ponderato con le spese condominiali amministrate
REG12
Numero di Unità immobiliari gestite (esclusi i terreni) di cui si gestisce la locazione, ponderato con i canoni di locazione
— 308 —
Variabile
REG1
REG5
REG6
REG8
REG12
RMSE
1,04002686
REG1
REG5
REG6
REG8
REG12
0,1911998335566900
-1,0512575755064700 -0,0009049931027940 -0,1963348507260800
7,6678485657257500
-1,0512575755064600 619,8086744370140000 -1,0693027149310700 -1,1740081814672200 -1767,3284882341100000
-0,0009049931027940
-1,0693027149310700 0,0156205017896850 -0,0106274948036990
1,8387171485552200
-0,1963348507260800
-1,1740081814672200 -0,0106274948036990
0,3085547703615100
-12,2602592029175000
7,6678485657257400 -1767,3284882341100000 1,8387171485552200 -12,2602592029175000 9721,5024315292200000
Cluster 1 - attività di lavoro autonomo
Studio di settore WK16U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 309 —
Serie generale - n. 301
Variabile
REG1
REG3
REG4
REG5
REG6
REG9
REG10
REG11
REG12
Variabile
REG1
REG3
REG4
REG5
REG6
REG9
REG10
REG11
REG12
RMSE
1,00173724
REG3
0,0108827614920110
17,9345446498176000
-4,3689257757071700
-0,1866470505277100
0,0000151894751100
-1,9911106379495500
0,5023125319399600
11,4330969852338000
-26,1256175455182000
REG12
-0,3713644295201000
-26,1256175455182000
9,2678196406548200
-16,6655649773253000
-0,1153419152478900
6,2596127326497200
-0,0726148943097000
-197,9509399786320000
11500,9634178193000000
REG1
0,0013560911938940
0,0108827614920110
0,0086594534972140
-0,0028674913287090
-0,0002078969109200
-0,0139899823417690
-0,0085227079376240
-0,0802934652702600
-0,3713644295201000
Cluster 2 - attività di lavoro autonomo
REG4
REG5
0,0086594534972140 -0,0028674913287090
-4,3689257757071700 -0,1866470505277100
10,1587246286530000
0,1666294180846600
0,1666294180846700
3,7154903788837100
-0,0014600703752400 -0,0003086282816430
0,4124977732419900 -0,0324723458184890
-2,4130674551864000 -0,1000741540541300
3,0592518178163700
0,4152315774036100
9,2678196406548200 -16,6655649773253000
Studio di settore WK16U - Matrice per il calcolo dell'intervallo di confidenza
REG6
-0,0002078969109200
0,0000151894751100
-0,0014600703752400
-0,0003086282816430
0,0004328803406730
-0,0011891398119440
-0,0013587221520370
-0,0511883613613830
-0,1153419152478900
REG9
REG10
REG11
-0,0139899823417690 -0,0085227079376240
-0,0802934652702600
-1,9911106379495500
0,5023125319399600
11,4330969852338000
0,4124977732419900 -2,4130674551864000
3,0592518178163600
-0,0324723458184870 -0,1000741540541300
0,4152315774035800
-0,0011891398119440 -0,0013587221520370
-0,0511883613613830
0,8988515067233700 -0,0414102805624220
-11,3605472862124000
-0,0414102805624220
1,2907427373667200
-13,8568644791905000
-11,3605472862124000 -13,8568644791905000 1082,8492437683600000
6,2596127326497200 -0,0726148943096900 -197,9509399786320000
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 310 —
Serie generale - n. 301
Variabile
REG1
REG2
REG6
REG7
REG9
REG10
REG11
RMSE
1,00976476
REG1
0,0171820157675760
-0,0194813523607200
-0,0015913402736640
-0,0063905806387260
-0,0013845070785570
-0,0443293453002980
0,4556660023434100
REG2
-0,0194813523607200
0,0652197988597300
-0,0006875542717120
0,1397128343599500
-0,3021274656516500
-0,0864457299812100
-0,8847051703322100
Cluster 3 - attività di lavoro autonomo
REG6
REG7
REG9
REG10
-0,0015913402736640 -0,0063905806387260 -0,0013845070785580 -0,0443293453002980
-0,0006875542717120 0,1397128343599500 -0,3021274656516500 -0,0864457299812100
0,0010604168637370 0,0177724463611840 -0,0031687858971240 -0,0136541256827830
0,0177724463611840 26,5521256644632000 -5,7289272433810600 -9,1000318565900600
-0,0031687858971240 -5,7289272433810600
7,8154517625930600
2,0239334785959000
-0,0136541256827830 -9,1000318565900600
2,0239334785959000
7,6954358879632400
-0,4605340451780500 80,3491038064540000 -69,4711537476049000 -90,3517787546439000
Studio di settore WK16U - Matrice per il calcolo dell'intervallo di confidenza
REG11
0,4556660023434100
-0,8847051703322200
-0,4605340451780500
80,3491038064540000
-69,4711537476048000
-90,3517787546439000
5465,8207609479800000
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 311 —
Serie generale - n. 301
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
Studio di settore WK16U - Matrice per il calcolo dell'intervallo di confidenza
Variabili di regressione - attività d'impresa
Variabile
Descrizione Variabile
REG1
Spese per acquisti di servizi - Compensi corrisposti ai soci per lʼattività di amministratore (società ed enti soggetti allʼIres) + Altri costi
per servizi + Costo per beni mobili acquisiti in dipendenza di contratti di locazione non finanziaria e di noleggio + Spese per lavoro
dipendente e per altre prestazioni diverse da lavoro dipendente afferenti l'attività dell'impresa - Compensi corrisposti ai soci per
l'attività di amministratore (società di persone) + Abbonamenti a riviste e giornali, acquisto di libri, spese per cancelleria + Spese per
omaggio a clienti ed articoli promozionali
REG2
REG3
REG4
Spese per lavoro dipendente e per altre prestazioni diverse da lavoro dipendente afferenti l'attività dell'impresa - Compensi
corrisposti ai soci per l'attività di amministratore (società di persone)
CVPROD
Numero di Unità immobiliari gestite (esclusi i terreni)
REG5
Collaboratori dellʼimpresa familiare e coniuge dellʼazienda coniugale e familiari diversi (percentuale di lavoro prestato diviso 100),
Associati in partecipazione (percentuale di lavoro prestato diviso 100) e Soci (percentuale di lavoro prestato diviso 100) escluso il
primo socio
REG6
Spese per acquisti di servizi - Compensi corrisposti ai soci per lʼattività di amministratore (società ed enti soggetti allʼIres) + Altri costi
per servizi + Costo per beni mobili acquisiti in dipendenza di contratti di locazione non finanziaria e di noleggio + Abbonamenti a
riviste e giornali, acquisto di libri, spese per cancelleria + Spese per omaggio a clienti ed articoli promozionali
REG7
CVPROD + Spese per acquisti di servizi - Compensi corrisposti ai soci per lʼattività di amministratore (società ed enti soggetti allʼIres)
+ Altri costi per servizi + Costo per beni mobili acquisiti in dipendenza di contratti di locazione non finanziaria e di noleggio +
Abbonamenti a riviste e giornali, acquisto di libri, spese per cancelleria + Spese per omaggio a clienti ed articoli promozionali
REG8
REG9
REG10
REG11
REG12
REG13
REG14
REG15
REG16
Totale Box che non costituiscono pertineza della unità immobiliari ai righi precedenti
COSTI TOTALI, quota fino a 100.000 euro
COSTI TOTALI, quota fino a 150.000 euro
COSTI TOTALI, quota fino a 30.000 euro
COSTI TOTALI, quota fino a 45.000 euro
Condomìni fino a 30 unità immobiliari: Unità immobiliari amministrate
Condomìni con oltre 30 unità immobiliari: Unità immobiliari amministrate
Totale condomìni amministrati ponderato con le spese condominiali amministrate
Numero di Unità immobiliari gestite (esclusi i terreni) di cui si gestisce la locazione, ponderato con i canoni di locazione
— 312 —
Variabile
REG1
REG3
REG4
REG11
RMSE
1,00957946
REG1
0,0033363475216580
-0,0003526208371450
-0,8867285874879700
-0,0060509351842810
Cluster 1 - attività d'impresa
REG3
REG4
-0,0003526208371450
-0,8867285874879700
0,0039103143086670
0,3143720404765300
0,3143720404765300 1584,2931765854700000
-0,0029366484475620
-1,3359941154707500
REG11
-0,0060509351842810
-0,0029366484475620
-1,3359941154707500
0,0395779396343870
Studio di settore WK16U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 313 —
Serie generale - n. 301
Variabile
REG2
REG5
REG7
REG8
REG12
REG13
REG14
REG15
RMSE
1,00546202
REG2
REG5
REG7
REG8
REG12
REG13
0,0048504042600780
24,3561439504157000 0,0015136159648070
-0,0124446850675010 -0,0038022261865780
0,0252937203737710
24,3561439504157000 7175914,8353976100000000 -0,9289669552719100 1304,7618520783600000 -11,3350697278612000 -1276,0326926698100000
0,0015136159648070
-0,9289669552719100 0,0019050581937020
-0,0065043071083540 -0,0023105365467920
0,0108407606210870
-0,0124446850675010
1304,7618520783600000 -0,0065043071083540
29,8552425105996000 0,0304146171364980
-3,4561411133640200
-0,0038022261865780
-11,3350697278612000 -0,0023105365467920
0,0304146171364980 0,0047821197533400
-0,0480966065447810
0,0252937203737710
-1276,0326926698100000 0,0108407606210870
-3,4561411133640200 -0,0480966065447810
5,0819780553260500
0,0002088278797830
-837,4779585470350000 0,0040783550811690
-9,1980294103675500 -0,0243875088284560
0,7296035720096300
0,2835952315080500
-6831,0537376588300000 0,1703487759806300 115,5113937293440000 -0,6735546336476100 -116,3930408144960000
Cluster 2 - attività d'impresa
Studio di settore WK16U - Matrice per il calcolo dell'intervallo di confidenza
REG14
0,0002088278797830
-837,4779585470350000
0,0040783550811690
-9,1980294103675500
-0,0243875088284560
0,7296035720096300
7,5501663924069700
-195,6572867843590000
REG15
0,2835952315080500
-6831,0537376588400000
0,1703487759806300
115,5113937293440000
-0,6735546336476000
-116,3930408144960000
-195,6572867843590000
22924,6709990220000000
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 314 —
Serie generale - n. 301
Variabile
REG2
REG3
REG4
REG5
REG6
REG8
REG9
REG13
REG14
REG15
REG16
Variabile
REG2
REG3
REG4
REG5
REG6
REG8
REG9
REG13
REG14
REG15
REG16
RMSE
1,00898662
REG3
REG4
-0,0001051865438480
0,0044563183667530
0,0073927221141670
0,0020932532420480
0,0020932532420490 124,2508623887660000
6,3424694193264800 -876,9609164104160000
-0,0005207416730190
-0,0053598548651760
-0,0058718027042390
2,4135251377730200
-0,0004212493881280
-0,0295308389740080
0,0072648990273440
-0,5058182510467200
0,0026456517959540
-0,8646158587129600
0,5836431005946800
82,8184727931611000
0,5842596885791200 -986,5934651384790000
REG5
16,2753316327254000
6,3424694193265000
-876,9609164104160000
5228469,5915297500000000
-9,8115228644148600
654,7042761759860000
-8,7813411203510500
-1172,8298072543500000
-846,9333858839560000
-19881,0998365020000000
-32506,4120899076000000
REG14
REG15
REG16
-0,0159814142705220
-0,1845609960053800
-1,6914710492392400
0,0026456517959540
0,5836431005946800
0,5842596885791200
-0,8646158587129600
82,8184727931609000
-986,5934651384790000
-846,9333858839560000 -19881,0998365020000000 -32506,4120899077000000
-0,0018881209462310
-0,0600869635773250
-0,0234241089349880
-6,5760168725290700
53,1017908733708000
-134,2204937552240000
-0,0109319612639810
-0,3082910187206400
0,4355285432389800
0,6126986006909100
-55,1842424850108000
75,8099281263517000
5,3651218248296600
-71,2130646479929000
39,0027093412129000
-71,2130646479929000
9177,9891538528500000 -4220,4715283980000000
39,0027093412124000 -4220,4715283979800000 100933,7017769840000000
REG2
0,0008791934983650
-0,0001051865438480
0,0044563183667530
16,2753316327254000
-0,0003224784762600
0,0158493056688860
-0,0005104742783450
-0,0036296017909710
-0,0159814142705220
-0,1845609960053800
-1,6914710492392300
Cluster 3 - attività d'impresa
Studio di settore WK16U - Matrice per il calcolo dell'intervallo di confidenza
REG6
REG8
-0,0003224784762600
0,0158493056688860
-0,0005207416730190
-0,0058718027042390
-0,0053598548651760
2,4135251377730100
-9,8115228644148700 654,7042761759860000
0,0027881081157310
-0,0112670470583350
-0,0112670470583350
19,8413078963240000
-0,0008659146796850
0,0135647812884570
0,0072353129695210
-3,1906649662142300
-0,0018881209462310
-6,5760168725290700
-0,0600869635773250
53,1017908733708000
-0,0234241089349950 -134,2204937552240000
REG9
REG13
-0,0005104742783450
-0,0036296017909710
-0,0004212493881280
0,0072648990273440
-0,0295308389740080
-0,5058182510467100
-8,7813411203510400 -1172,8298072543500000
-0,0008659146796850
0,0072353129695210
0,0135647812884570
-3,1906649662142400
0,0015999765508840
-0,0362814875107190
-0,0362814875107190
6,3012569838646700
-0,0109319612639810
0,6126986006909100
-0,3082910187206400
-55,1842424850109000
0,4355285432389900
75,8099281263510000
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 315 —
Serie generale - n. 301
Variabile
REG1
REG3
REG10
RMSE
1,03542763
REG1
REG3
REG10
0,0005888419791000 0,0000431610640720 -0,0013436117038340
0,0000431610640720 0,0013840226839880 -0,0014534431055650
-0,0013436117038340 -0,0014534431055650 0,0069367659817700
Cluster 4 - attività d'impresa
Studio di settore WK16U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 316 —
Serie generale - n. 301
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
Studio di settore WK20U - Matrice per il calcolo dell'intervallo di confidenza
Variabili di regressione
Variabile
REG1
REG2
REG3
REG4
REG5
REG6
REG7
REG8
REG9
REG10
REG11
REG12
REG13
REG14
REG15
REG16
REG17
REG18
REG19
Descrizione Variabile
Consumi + Altre spese
Tipologia dellʼattività: Consulenza psicologica clinica (Numero)
Tipologia dellʼattività:Formazione e didattica (Numero)
Tipologia dellʼattività:Attività di prevenzione e di promozione della salute (Numero)
Tipologia dellʼattività: Psicologia di comunità (Numero)
Tipologia dellʼattività: Consulenza di psicologia giuridica e psicopatologia forense (Numero)
Tipologia dellʼattività: Psicoterapia di coppia (Numero)
Tipologia dellʼattività: Psicoterapia della famiglia (Numero)
Tipologia dellʼattività: Psicoterapia di gruppo (Numero)
Tipologia dellʼattività: Psicoterapia individuale (Numero)
Spese per prestazioni di lavoro dipendente + Spese per prestazioni di collaborazione coordinata e continuativa + Compensi corrisposti a
terzi per prestazioni direttamente afferenti l'attività professionale e artistica
Ore dedicate all'attività: Età professionale fino a 4 anni
Ore dedicate all'attività: Età professionale fino a 5 anni
Ore dedicate all'attività: Età professionale fino a 6 anni
Ore dedicate all'attività: Età professionale fino a 8 anni
Ore dedicate all'attività
Ore dedicate all'attività, differenziale relativo alla concentrazione di compensi e numero di psicologi a livello provinciale
Ore dedicate allʼattività delle Stabili collaborazioni con studi e/o strutture di terzi: Età professionale fino a 2 anni
Consumi + Altre spese + Spese per prestazioni di lavoro dipendente + Spese per prestazioni di collaborazione coordinata e continuativa +
Compensi corrisposti a terzi per prestazioni direttamente afferenti l'attività professionale e artistica
— 317 —
Variabile
REG1
REG9
REG11
REG13
REG16
REG17
RMSE
1,04389788
Cluster 1
REG1
REG9
REG11
0,0159872103894950 -0,2868246437013200 0,0008466137532980
-0,2868246437013200 197,7657998513380000 0,0244265250575080
0,0008466137532980
0,0244265250575090 0,0083475812648050
0,0223310257998250
1,6938192202542100 0,0345262188328920
-0,0657956729120400 -4,7251603348653000 -0,0412598589551110
0,0296652494141300 -3,4179872539144400 0,0907215832462900
REG13
0,0223310257998250
1,6938192202542100
0,0345262188328920
3,2828014773603500
-0,8842003850305800
-0,1461126910026500
Studio di settore WK20U - Matrice per il calcolo dell'intervallo di confidenza
REG16
REG17
-0,0657956729120400 0,0296652494141300
-4,7251603348653000 -3,4179872539144400
-0,0412598589551110 0,0907215832462900
-0,8842003850305800 -0,1461126910026500
1,1863649524705400 -0,1353618517815100
-0,1353618517815100 7,7262009457244400
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 318 —
Serie generale - n. 301
Variabile
REG1
REG4
REG11
REG15
REG16
REG17
RMSE
1,02161637
Cluster 2
REG1
REG4
0,0429817415512510
0,1068477469513100
0,1068477469513100 174,5837103744030000
-0,0023035275673990 -2,4986850457757000
0,0259385998726860 -1,1815588010349300
-0,1684127637356300 -1,2190167296973900
0,0050596832789670
2,5529169874749300
REG11
REG15
-0,0023035275673990 0,0259385998726860
-2,4986850457757000 -1,1815588010349300
0,2521611673781400 0,0100274218173880
0,0100274218173880 1,0279872129971300
-0,0686526984864600 -0,6183027705891400
-0,0697579699415400 0,1962607928512900
Studio di settore WK20U - Matrice per il calcolo dell'intervallo di confidenza
REG16
REG17
-0,1684127637356300 0,0050596832789670
-1,2190167296973900 2,5529169874749300
-0,0686526984864600 -0,0697579699415400
-0,6183027705891400 0,1962607928512900
1,2965958572316400 -0,6803515303643000
-0,6803515303643000 4,2437045939101300
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 319 —
Serie generale - n. 301
Variabile
REG1
REG2
REG3
REG8
REG9
REG10
REG11
REG16
REG17
REG18
Variabile
REG1
REG2
REG3
REG8
REG9
REG10
REG11
REG16
REG17
REG18
RMSE
1,00146337
REG2
0,0002605348976180
2,1289886861822300
-0,3112664868146100
-0,4616097510312600
-0,3582363060191500
-0,0130663138929720
0,0037259456768550
-0,0312277450094920
-0,0208213993030070
0,0142097106422640
REG18
-0,0009380555118500
0,0142097106422640
0,1535958235599000
-0,5085617826906000
0,0302216815353700
0,0377567083105430
0,0033655351461640
-0,0090159492367070
-0,0083109950390390
1,5534461883786300
REG1
0,0020463346662620
0,0002605348976180
-0,0799817016456300
-0,0062722835678030
0,0021733247328180
-0,0046300287453320
-0,0005946143851030
-0,0048637950311800
-0,0015674490070410
-0,0009380555118500
REG17
-0,0015674490070410
-0,0208213993030070
-0,2158190716353600
0,0712542739479700
0,0986256471425000
-0,0089859279587080
-0,0013481300931450
-0,0063221594283650
0,1103151193179800
-0,0083109950390390
Cluster 3
REG3
-0,0799817016456300
-0,3112664868146100
474,5974487687440000
-6,6409331486899600
0,5028880659633300
0,7422522163205400
-0,0359146982315180
-0,2347736402679700
-0,2158190716353600
0,1535958235599000
REG8
REG9
-0,0062722835678030
0,0021733247328180
-0,4616097510312600 -0,3582363060191500
-6,6409331486899600
0,5028880659633300
178,1121730489420000 -2,1830268644022100
-2,1830268644022000 156,8091471864930000
-4,2150394989340700 -2,9868152662494000
0,0042122452984550
0,0141593296302960
-0,0645967882815100 -0,0261441872518950
0,0712542739479700
0,0986256471425000
-0,5085617826906000
0,0302216815353700
Studio di settore WK20U - Matrice per il calcolo dell'intervallo di confidenza
REG10
-0,0046300287453320
-0,0130663138929720
0,7422522163205500
-4,2150394989340700
-2,9868152662494000
2,0826086191961600
-0,0045703907151770
-0,0227153351277040
-0,0089859279587080
0,0377567083105430
REG11
-0,0005946143851030
0,0037259456768550
-0,0359146982315180
0,0042122452984550
0,0141593296302960
-0,0045703907151770
0,0144276724983300
-0,0012601186989180
-0,0013481300931450
0,0033655351461640
REG16
-0,0048637950311800
-0,0312277450094920
-0,2347736402679700
-0,0645967882815100
-0,0261441872518950
-0,0227153351277040
-0,0012601186989180
0,0255439963321630
-0,0063221594283650
-0,0090159492367070
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 320 —
Serie generale - n. 301
Variabile
REG1
REG6
REG10
REG11
REG13
REG16
REG17
RMSE
1,02928359
Cluster 4
REG1
REG6
REG10
0,0605819794974070
-3,2840550659849000 -0,4744877925278200
-3,2840550659848900 2374,7204436700100000 35,0907781708510000
-0,4744877925278200
35,0907781708510000 138,9515202931920000
0,0072706887970180
-1,6086965891392300 -1,9096713142199900
-0,0497149021938220
12,6600160182321000
3,2305131498426900
-0,1331236687233700
-30,3740206250021000 -1,5829558795283100
-0,1268959881521600
-6,2232135225750000
1,9761323310866300
REG11
REG13
0,0072706887970180 -0,0497149021938220
-1,6086965891392300 12,6600160182321000
-1,9096713142199900 3,2305131498426900
0,0460169636387430 -0,0446602309334880
-0,0446602309334880 3,4954363655661200
0,0114264049212640 -0,5826849926828600
0,0136933036495610 -0,8613619939507500
Studio di settore WK20U - Matrice per il calcolo dell'intervallo di confidenza
REG16
REG17
-0,1331236687233700 -0,1268959881521600
-30,3740206250022000 -6,2232135225750800
-1,5829558795283100 1,9761323310866300
0,0114264049212640 0,0136933036495610
-0,5826849926828600 -0,8613619939507500
1,4924889980623400 0,3680508741271900
0,3680508741271900 6,7474012163973900
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 321 —
Serie generale - n. 301
Variabile
REG5
REG10
REG14
REG16
REG17
REG19
RMSE
1,01073655
Cluster 5
REG5
REG10
573,9117440430900000 -5,1641506635799800
-5,1641506635799700 24,3971378686907000
0,6053990458852500 -0,0154235179053460
-3,7546588721708900 -0,5643619083007800
1,8454269241169500 0,0980245594469800
-0,3379789452001000 -0,0713120435020800
REG14
0,6053990458852500
-0,0154235179053460
0,8540060489681200
-0,2444404172712800
-0,0685038726428500
0,0112031323719780
REG16
-3,7546588721708900
-0,5643619083007800
-0,2444404172712800
0,4550280901455800
0,1208709800283700
-0,0628247796627900
Studio di settore WK20U - Matrice per il calcolo dell'intervallo di confidenza
REG17
1,8454269241169500
0,0980245594469800
-0,0685038726428500
0,1208709800283700
1,7933479013717600
-0,0675335363792100
REG19
-0,3379789452001000
-0,0713120435020800
0,0112031323719780
-0,0628247796627900
-0,0675335363792100
0,0221108059007940
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 322 —
Serie generale - n. 301
Variabile
REG12
REG16
REG19
RMSE
1,01842284
Cluster 6
REG12
REG16
REG19
5,7527286681714000 -1,7310201801128100 0,0114646488319740
-1,7310201801128100 1,8466889751656000 -0,0143071943004490
0,0114646488319740 -0,0143071943004490 0,0003515974235470
Studio di settore WK20U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 323 —
Serie generale - n. 301
Variabile
REG1
REG7
REG8
REG10
REG11
REG12
REG16
REG17
RMSE
1,00066340
Cluster 7
REG1
REG7
0,0008368729419620 -0,0081293003630340
-0,0081293003630340 141,3718742347260000
-0,0062801599061910 -3,6314634702050000
-0,0022765157152030 -0,6835487925483200
-0,0002211518453980
0,0028826322267730
0,0004691762702710 -0,0226126182485850
-0,0029268139012110 -0,0413861156919530
-0,0010457533491740 -0,0495190628712090
REG8
-0,0062801599061910
-3,6314634702050000
20,0572440039996000
-0,2200951348112100
-0,0002047139250280
0,0220132081065450
-0,0271635502188580
0,0059837912347260
REG10
-0,0022765157152030
-0,6835487925483200
-0,2200951348112100
0,2930751150469400
-0,0008219762515610
0,0126972055932080
-0,0257134623321390
-0,0056929699889970
Studio di settore WK20U - Matrice per il calcolo dell'intervallo di confidenza
REG11
REG12
-0,0002211518453980 0,0004691762702710
0,0028826322267730 -0,0226126182485850
-0,0002047139250280 0,0220132081065450
-0,0008219762515610 0,0126972055932080
0,0027217915926960 0,0001752975803040
0,0001752975803040 0,1375401903457400
-0,0004394039382740 -0,0146056472906820
0,0001976779706040 0,0030268061487100
REG16
-0,0029268139012110
-0,0413861156919530
-0,0271635502188580
-0,0257134623321390
-0,0004394039382740
-0,0146056472906820
0,0268560533229910
-0,0042306912364100
REG17
-0,0010457533491740
-0,0495190628712100
0,0059837912347250
-0,0056929699889970
0,0001976779706040
0,0030268061487100
-0,0042306912364100
0,0977658508610100
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 324 —
Serie generale - n. 301
Variabile
REG10
REG13
REG16
REG17
REG19
RMSE
1,00940005
Cluster 8
REG10
REG13
REG16
REG17
143,4101934024120000 0,5437850880570000 -2,9201987922295200 1,7936532044091900
0,5437850880570000 1,2494767789907900 -0,3327181539553200 0,0434072750716830
-2,9201987922295200 -0,3327181539553200 0,6041416073003000 -0,1611706959211700
1,7936532044091900 0,0434072750716830 -0,1611706959211700 2,4635463207885500
-0,0238616160947840 -0,0049491630792690 -0,0486081795597020 -0,0370254227303310
Studio di settore WK20U - Matrice per il calcolo dell'intervallo di confidenza
REG19
-0,0238616160947840
-0,0049491630792690
-0,0486081795597020
-0,0370254227303310
0,0134488123405340
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 325 —
Serie generale - n. 301
Variabile
REG2
REG13
REG16
REG17
REG19
RMSE
1,00242674
Cluster 9
REG2
1,7319864255424000
0,0240782763937460
-0,1018831216807000
0,0028345010194930
-0,0110929421009660
REG13
0,0240782763937460
0,2362413809068400
-0,0573610720689720
-0,0005636379363520
0,0005318409340700
REG16
-0,1018831216807000
-0,0573610720689720
0,1168399333575200
-0,0530661989332500
-0,0124117046341290
REG17
0,0028345010194930
-0,0005636379363520
-0,0530661989332500
0,4359453647662400
-0,0018285003551930
Studio di settore WK20U - Matrice per il calcolo dell'intervallo di confidenza
REG19
-0,0110929421009660
0,0005318409340700
-0,0124117046341290
-0,0018285003551930
0,0035361797941680
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 326 —
Serie generale - n. 301
Variabile
REG3
REG10
REG13
REG16
REG17
REG19
RMSE
1,01046255
REG3
REG10
REG13
1099,3066795749500000 -4,4996337943874800 3,9757894371065500
-4,4996337943874700 40,9166477266684000 0,6033817049947200
3,9757894371065500 0,6033817049947200 1,2140750816476800
-12,1458110671911000 -1,1921921468456300 -0,2627127399125100
-0,3818226713716800 0,7119034571270300 -0,0208091043173360
-0,1935050310491200 -0,0100601996733370 0,0015681415584700
Cluster 10
REG16
-12,1458110671911000
-1,1921921468456300
-0,2627127399125100
0,4286653712032000
-0,1334556782964500
-0,0090779766971470
Studio di settore WK20U - Matrice per il calcolo dell'intervallo di confidenza
REG17
-0,3818226713716800
0,7119034571270300
-0,0208091043173360
-0,1334556782964500
1,8004543110189400
-0,0057282177243750
REG19
-0,1935050310491200
-0,0100601996733370
0,0015681415584700
-0,0090779766971470
-0,0057282177243750
0,0024650912131880
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 327 —
Serie generale - n. 301
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
30-12-2014
Serie generale - n. 301
Studio di settore WK56U - Matrice per il calcolo dell'intervallo di confidenza
Variabili di regressione
Variabile
REG1
REG2
REG3
REG4
Descrizione Variabile
Ore dedicate all'attività: età professionale fino a 2 anni
Ore dedicate all'attività
Consumi + Altre spese + Spese per prestazioni di lavoro dipendente + Spese per prestazioni di collaborazione coordinata e continuativa +
Compensi corrisposti a terzi per prestazioni direttamente afferenti l'attività professionale e artistica
Valore dei beni strumentali mobili
— 328 —
Variabile
REG1
REG2
REG3
REG4
RMSE
1,01172238
Cluster 1
REG1
REG2
REG3
REG4
1,4435131917779500 -0,2825331268516900 -0,0313225002346330 0,0275725787823430
-0,2825331268516900 0,5391916199530400 -0,1089711504456000 -0,0186833193910170
-0,0313225002346330 -0,1089711504456000 0,0713807173854900 -0,0107938625162490
0,0275725787823430 -0,0186833193910170 -0,0107938625162490 0,0118332074275730
Studio di settore WK56U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 329 —
Serie generale - n. 301
Variabile
REG1
REG2
REG3
REG4
RMSE
1,02247540
Cluster 2
REG1
REG2
REG3
REG4
11,9893554517097000 -1,1076048658550700 0,0121635531615980 0,0027841148542700
-1,1076048658550700 1,2479516119015000 -0,0089378419451480 -0,0213960648969720
0,0121635531615980 -0,0089378419451480 0,0011280098246210 -0,0008336804801000
0,0027841148542700 -0,0213960648969720 -0,0008336804801000 0,0033551161329630
Studio di settore WK56U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
— 330 —
Serie generale - n. 301
Variabile
REG2
REG3
REG4
RMSE
1,03604894
Cluster 3
REG2
REG3
REG4
8,4174002808149900 -0,0545847542918770 0,0121889739962480
-0,0545847542918770 0,0018869743318700 -0,0017847899896320
0,0121889739962480 -0,0017847899896320 0,0023311818976330
Studio di settore WK56U - Matrice per il calcolo dell'intervallo di confidenza
30-12-2014
Supplemento straordinario n. 14 alla GAZZETTA UFFICIALE
14A10033
— 331 —
Serie generale - n. 301

Cond.Economiche - Agente Telefonia Pordenone

Allegati 1 - Barcaccia

MIA - MILAN IMAGE ART FAIR 2014 I NUMERI DI UN SUCCESSO

Adozione internazionale - Gruppo di Volontariato "Solidarietà"

Qui il profilo grafico completo in PDF da scaricare!

Scheda tecnica Real Turbo Muin

Lecture 2: Transmission Line Theory 0 0 = - =

Flyer Kit residenziale

TA 20.2 TA 40.2

Catalogo Audioquest 2014