Law No. 262 of December 28 th, 2005 (Title IV)

Section 19-22

Section 19.
The Bank of Italy

[As amended by section 2 of Legislative Decree no. 303 of 29 December 2006].

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(11) Section 20(2), (3) and (6) of Law No 287 of 10 October 1990 are repealed.

(12) [Repealed].

(13) [Repealed].

(14) [Repealed].
Section 20.
Coordination of the work of the Authorities

(1) The Bank of Italy, The Stock Exchange Supervisory Authority (CONSOB), the Insurance Supervisory Authority (Istituto per la Vigilanza sulle Assicurazioni Private e di interesse collettivo, ISVAP), the Pension Funds Supervisory Commission (COVIP) and the Competition Authority shall, each respecting the independence of the others, identify forms of coordination for the exercise of the powers vested in them, which may take the form of protocols of understanding or the institution of coordination committees, provided that this does not place an extra burden on public finances.

(2) The forms of coordination referred to in subsection (1) above shall include a meeting to be held at least once a year between the Authorities indicated in that subsection.
Section 21.
Cooperation between the Authorities.

(1) The Bank of Italy, Consob, ISVAP, COVIP and the Competition Authority shall work together, also by exchanging information, to facilitate the exercise of their respective functions. The Authorities may not refuse to exchange information on the grounds of confidentiality. All the data, information and documents exchanged in any manner between the Authorities, including inputting data into their jointly managed archives, are subject to official confidentiality pursuant to the provisions of the Act instituting the Authority which produced them or first acquired them.
Section 22.
Cooperation by the Guardia di Finanza.

(1) In the exercise of their powers of oversight and inspection, the Authorities referred to in section 20 may use the offices of the Guardia di Finanza for the specific purposes of conducting inspections, exercising their powers to assess value-added tax and income tax liability, using its facilities and personnel ensuring that no additional cost burden is incurred.

(2) All the intelligence, information and data acquired by the Guardia di Finanza in the performance of the tasks referred to in subsection (1) are subject to official confidentiality, and shall be promptly notified exclusively to the relevant Authorities.

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