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ADMISSION REQUIREMENTS
Eligible consortium members are all small and medium-sized
firms with industrial or commercial activities, service firms, artisans
or cooperatives. Small and medium-sized firms are defined according
to law and exclude those firms who, through technical and financial
links are linked to a holding as defined by article 2359 c.c., save
those unitary entities that do not surpass the aforementioned limits.
The number of associates is unlimited.
In the event a consortium associate passes the aforementioned thresholds
and thereby becomes a 'large firm', it loses its qualification as
an associate and becomes immediately ineligible for further services
or benefits and must immediately advise the consortium administrators
of this state of affairs.
Admission to the consortium requires
that the entity provide all required documentation to the Consortium
administration, which posseses all discriminatory powers with respect
to admission. The requesting entity must declare that it complies
with the requirements of article 5, that it has read, understands
and accepts the Statutes, internal rules and previous Consortium
deliberations. The new consortium associate must subscribe to a
minimum share of 1500 Euro and must contribute to the annual expenses
of the consortium and comply with its Statutes, internal rules and
Consortium deliberations, as well as act in the interests of the
consortium.
Consortium funding is composed of
entry share subscriptions, annual associate contributions, eventual
operating surpluses, as well as contributions from, Italian or foreign,
public or private corporations, institutes, organisations and administrations,
and any qualifed third party. Consortium funds also include any
management surplusses not specifically earmarked by the Consortium
General Assembly as special reserves. No consortium member can have
a participation inferior to Euro 1500 nor greater than 10% of consortium
funding. Reserves are indivisible.
Consortium members are responsible for their payment of:
- entry share subscriptions
- annual associate contributions, including those for consortium
management
Public Contributions
Contributions from the State, its administrations, institutes and
corporations, in accordance with article 9, will be attributed at
their discretion to the consortium funds or as contributions to
management costs.
Exclusion from Consortium
The administrative body can deliberate at any moment the exclusion
of an associate because of the following circumstances:
a) loss of one of the admission requirements
b) the associate is declared bankrupt, in liquidation or undergoing
similar dissolution procedures
c) has interest that diverge from those of the consortium The
exclusion is immediate and must be communicated to the consortium
within 15 days by the President via registered mail.
Fiscal Cycle
The cycle spans from January 1 to December 31 of every year. In
case of admission during the course of the year, the annual contributions
are due in full, unless otherwise decided by the Consortium Administration.
According to article 2615b c.c., the consortium administration must
communicate within two months of the end of a fiscal cycle the balance
sheet and income statement of the consortium. This document is subject
to the approval of the Assembly to be held within six months of
the end of the fiscal cycle.
Distribution of Surplusses
Operating surplusses of any kind cannot be distributed in any form
whatsoever to consortium associates in case of dissolution.
Right of Withdrawl
An associate can withdraw from the consortium at any moment. The
withdrawl must be communicated via registered mail with return
receipt addressed to the Consortium administration.
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Italiano