TRANSLATION LEGISLATIVE DECREE of March 2, 1948, No. 211 Investment of Foreign Capital in Italy THE PRESIDENT OF THE REPUBLIC Pursuant to Art. 4 of the legislative decree of the Lieu- tenant of the Kingdom of June 25, 1944, No. 151, as amended by Art. 3, paragraph one, of the legislative decree of the Lieutenant dated March 16, 1946, No. 98; Pursuant to the transitory provisions I and XV of the Constitution; Pursuant to Art. 87, paragraph five, of the Constitution; Upon proposal of the Minister of Industry and Commerce, and of the Minister of Foreign Trade, in agreement with the Minister of the Treasury; PROMULGATES the following Legislative Decree, approved by the Council of Ministers with their decision of February 7, 1948: Sec. 1. The royal legislative decree of July 24, 1942, No. 807, concerning the treatment of foreign capital investments in Italy is herewith repealed. Sec. 2. Foreigners or Italian citizens residing abroad, who show that they invested foreign capital in Italy subsequent to the effective date of this Decree, in the form of foreign currency freely available for payments abroad, and that they have delivered such currency to the Italian Exchange Office, are permitted to transfer abroad the following funds through the same Office and through the Bank of Italy, or through one of the Banks enumerated in Art. 10 of the Ministerial Decree of December 8, 1934: (1) the income, interests and proceeds from investments in real property or in loans, as well as dividends and interests actually received from the investments in stocks and bonds purchased or subscribed to in Italy limited, however, to 1% per annum in excess of the legal rate of interest; (2) funds realized from any subsequent liquidation of the investment, limited, however, to the amount of the currency originally brought into the country, provided the transfer is not applied for before the expiration of two years from the date of the investment, and does not exceed 50% each biennial period. The sums not admitted to transfer may be utilized accord- ing to the procedure set forth in the provisions pertaining to foreign currency. Sec. 3. The investments defined in the preceding section may be made also in the form of machinery for industrial establish- ments, up to one-half of the value of the total amount to be invested. In such a case