Microsoft Word - DL106-2015.doc REPUBLIC OF SAN MARINO DECREE - LAW 106 of July 3, 2015 We the Captains Regent of the Most Serene Republic of San Marino Having seen the need and urgency referred to in Article 2, paragraph 2, letter b) Constitutional Law 15 December 2005 n. 183 and Article 12 of the Qualified Law 15 December 2005 n. 184 and more specifically: - the need for regulatory intervention to support the rehabilitation and financing of companies in crisis, even for credit access problems; - The urgent need to give immediate feedback to the aforementioned need in order to avert the real danger of closing from above employment businesses and preserve jobs, the main emergency the current economic situation, Given the decision of the Congress of State no. 36 adopted at its meeting on 30 June 2015; Having regard to Article 5, paragraph 2, of the Constitutional Law no. 185/2005 and Article 9 and Article 10, paragraph 2, of the Qualified Law n.186 / 2005; Promulgate and publish the following decree-law: URGENT MEASURES FOR THE SOLUTION OF THE STATE OF CRISIS TEMPORARY BUSINESS Art. 1 1. If an undertaking has been admitted to the procedure laid down in Article 114 of Law 23 February 2006 n. 47 (the Companies) Act, as amended, and, after the end of the moratorium period, incurring bankruptcy proceedings shall apply the provisions of this Decree - Law. Art. 2 1. In the case of bankruptcy proceedings, listed below the debts incurred by the directors of the company during the period of the Article 114 of Law 47/2006 (the Companies Act), as amended, they must be paid in prededuction and in the following order: a) debt to the controller of the moratorium; b) debt to the service people for their wages and salaries; c) debt to the Public Treasury for taxation and taxes legitimately taxes and not met; d) debt to the Institute for Social Security contributions and any other fees; e) debt to banks for loans given. 2. Any other debt incurred by the company during the standstill period, except those listed in the previous paragraph, has the same treatment of claims arising before the period of the moratorium itself. Art. 3 1. Paragraph 2, Article 114 of Law no. 47/2006 (the Company), as amended Act is amended as follows: "2. The Law Commissioner, should assess positively the request and grant the measures sought, can also secure all of the charges, terms and conditions it deems appropriate for the realization of the plan to restructure the company, safeguarding the rights of creditors and of economic and social heritage constituted by the enterprise as a whole. ". Given at Our Residence, this day of July 3 2015/1714 THE CAPTAINS REGENT Andrea Belluzzi - Roberto Venturini THE SECRETARY OF STATE FOR INTERNAL AFFAIRS Gian Carlo Venturini