The Italian Floating charge

At last, by a measure dated 12 January 2023, the Italian tax authorities have set up the electronic registry for the entry into force of the so-called ‘non-possessory pledge’.
Unlike the traditional pledge, this new security will allow businesses to create a security on movable (tangible and intangible) assets without the need to grant possession to the creditor – thus recognizing the possibility of continuing to use the pledged assets (raw materials, machinery, etc.) in the production process (floating charge).