Cattolica Lecture Day: the Tertiary Sector is recognised in new legislation
A reform with “notable social impact”, destined to leave a mark on Italy. The second event of Cattolica Lecture Days – a series of conferences studying legal and insurance-related matters – was dedicated to “The new frontiers of the tertiary sector between crises of State and market. A first analysis of Legislative Decree n. 117 of 3 July 2017”, an argument led by Giulio Ponzanelli, Professor of Private Law Institutions at the Università Cattolica in Milan.
A partner of Milan-based law firm Bonelli Erede, the editor of multiple law journals and a member of the “Commission charged with studying the readiness of the implementing decrees of the Tertiary Sector reform bill”, he accompanied participants on their journey to discover the Tertiary Sector’s historical and legal transformation, concentrating in particular on the operative repercussions of the new regulation.
“From the birth of the expression ‘Tertiary Sector’ in the 1970s, the legal system has evolved to enable no-profit organisations to carry out their role as intermediaries between State and Market. The legislative relation has become increasingly more structured, seeing the arrival of the Tertiary Sector Reform in 2016, which stemmed the flow of special unrelated and unorganised laws that blocked its operational development. The Reform is an evolution in itself since it aims to create order and certainty in the sector”, continued the Professor, “giving legal definition to no-profit organisations, choosing control managers and establishing activities and purposes that bind entities.”
“A law that requires some implementation,” concluded Ponzanelli, “but which represents a momentous step towards improving the Tertiary Sector and turning it into a field of great interest for the future economy.”