Article 112 (Registration requirements for companies)
1. In order to be registered in the section of the register indicated in article 109 (2) a), b) and e), the company must fulfil the following requirements:
a) have its head office in Italy; b) not have been subject to bankruptcy proceedings, composition to avoid bankruptcy, extraordinary administration or administrative compulsory winding- up; c) not to be affected by prohibition or lapse of entitlement envisaged by article 10 (4) of Law n. 575 of 31 May 1965, and subsequent modifications.
2. In order to be registered in the section of the register envisaged in article 109 (2) a), b) and e), the company must have entrusted responsibility for mediation activity to at least one natural person registered in the section of the register in which registration is sought. For companies registered in the section of the register envisaged in article 109 (2) b), the legal representative and, where appointed, the managing director and the general manager must be registered in the same section of the register.
3. In order to be registered, the company must also take out professional indemnity insurance envisaged in article 110 (3) for the mediation activity pursued by the company itself, by the natural persons under paragraph 2 as well as for damage arising from the professional negligence, misconduct and infidelity on the part of employees, collaborators or any other persons for whom it is liable under the law.
4. If the company pursues reinsurance mediation, it must possess a corporate capital not lower than the amount established by regulation adopted by ISVAP165. The company that simultaneously carries on insurance and reinsurance mediation must entrust the two activities to distinct natural persons and establish an adequate organisation.
5. If the company seeks registration in the section of the register envisaged in article 109 (2) e), the natural persons involved in mediation must also be registered. However a company directly or indirectly operating through another company shall be barred from registration in the section of the register envisaged in article 109 (2) e).
