Article 14 of the Law October 19th, 2017 n. 155 (Delegation to the Government for the reform of the disciplines of the business crisis and insolvency - Official Gazette General Series n. 254 of October 30th 2017) provides in letter g) «the extension of the cases in which the appointment of the control body, even single-member, or of the accounting auditor, by the limited liability company, in particular providing for this obligation when the company has passed at least one of the following limits for two consecutive financial years:
1) total assets in the balance sheet: 2 million euro;
2) revenues from sales and services: 2 million euro;
3) employees on average during the year: 10 units »
It also states that «the obligation to appoint the control body or the accounting auditor ceases, for the limited liability companies, when for three consecutive financial years any of the limits referred to in letter g) have not been exceeded. »
In this respect, it is specified that the Government is delegated to adopt, within twelve months from the date of entry into force of this law, one or more legislative decrees to implement the mentioned change.
Should the Government therefore decide to amend the art. 2477 of the Civil Code could increase significantly the number of limited liability companies affected by the new provision.