The Government's decision is motivated by the fact that, giving birth to an instrument never tested before and studied to face, originally, only "ordinary" crises, could be, in this period of emergency, inappropriate.

The postponement is for the duration of one year and 16 days to avoid that, as the Government clarified, concrete application problems could arise, considering that with a one-year postponement, the date itself would have fallen in the middle of August, a period in which the judicial offices have reduced activity.

The new Code presents a main features and novelties on one hand the introduction of a widespread monitoring system with alert tools, internal and external to the company, in order to anticipate and allow a more timely and effective intervention to deal with situations of crisis; on the other, in situations where "bankruptcy" (in the new Code defined with the term "judicial winding up") is inevitable, a series of measures aimed at making this event less traumatic, promoting the culture of rescue at the expense of the elimination of insolvent companies from the market.

It should also be noted that part of the provisions of the new Code, in particular those which modify some articles of the Italian Civil Code concerning corporate organizational structures, the directors’ liability and the appointment of control bodies, have already entered into force on March 16, 2019.