INFORMATION RHLAT1X(V TO CKEI>IT 47 



risks of transporting corn, at economizing; the time and money spent on 

 such transport, at facilitating exchange, diminishing the passage of coin, 

 etc. (i). The following are the chief rules of the new sj'stem. 



Ever}- individual and every legal person, including firms, collective bo- 

 dies and offices, may benefit b}^ the new system on making application and 

 on fulfilling the conditions established by the rules. Married women and 

 minors who have reached the age of eighteen are fully qualified for this 

 purpose. 



The assets of the current accounts are formed : i) by paj^ments of 

 money by those in whose name they stand or by others for their benefit ; 



2) by inscription in their accounts of their credit, by means of recovered 

 orders, bills received, values bequeathed to them or other securities ; 



3) by credit transferred from other accounts. 



Persons having current accounts may use their credit a) to withdraw 

 money or cause its withdrawal at the office where they have an account ; 

 b) to cause pa^'ments to be made by means of the post-offices ; c) to have 

 their credit transferred wholly or partialh- to another person having a cur- 

 rent account (bancogiro) . 



The administration provides that all operations belonging to the ser- 

 vice shall immediateh- be effective, and the administration is liable for the 

 whole sum paid in, gradually freeing itself from such liabilit}'' as pa3'ments 

 are made in the manner established by the rirles. All other liability is 

 excluded. 



Action for the rectification of a postal current account must he taken 

 within a year. All other action in connection with such an account must be 

 taken within a period of three years. If such term elapse without any ope- 

 rations or other action suspending the rule being undertaken by the per- 

 son in whose name the account stands, the credit of the account, including 

 deposited securities, is acquired by the administration. Disputes rela- 

 tive to postal current accounts belong to the commercial ji;risdiction. 



A current account is determined legally by the forfeiture, the depriva- 

 tion or the failure of the person in whose name it stands. Until it be wound 

 up and the balance be placed at the service of the person in whose name it 

 .has .stood or his representatives, his credit cannot be sequestrated or pledged. 



No person having a current account can draw orders on one day in 

 one place for a larger sum than 10,000 liras. 



Every operation of paying in money or credit, transferring it or caus- 

 ing jjayments to be made, is subjected to a fixed duty of ten centesimi pay- 

 able by the applicant. On payments to be effected in cash there is ano- 

 ther duty of twenty-five centesimi on every thousand liras paid. For every 

 extract from an account, beyond that sent periodically to the person in 

 whose name itstands, a due of fifty centesimi is payable. No other tax 



(i) For thd ecT.i jinic ami leg il importance of such a measure in Italy see the learned 

 report presented to the president of the Chamber on 22 June 1917 by the parliamen- 

 tary commission chirged to report on the relative scheme for a law presented to par- 

 liament at the session of 6 December 191O by thf. Minister of Posts and Telegraphs (Fera) 

 Atii parlanienloi'i. No. 686-A. 



