Italian Legislative Decree no. 11 dated 27 January 2010 has introduced European Directive 2007/64/EC into Italian law, establishing, among other things, the adoption of the IBAN as the sole identifier for the execution of bank transfers; this means that now banks simply check that the IBAN is an existing and correct one, and no longer check that the name of the payee matches the account holder to which the IBAN refers. Consequently, any changes notified by a supplier or by a supplier's appointed bank, of changes in the IBAN of their preferred bank and/or of any channels and mandates signed by the supplier, will be treated by our Company as valid only if they are received in writing on the supplier's letterhead, with the original copy signed by the legal representative, indicating, by stamp or text format, the name, surname and position of the legal representative signing the notice. 
In the absence of even one of the items of required information, the notice will be ignored and our Company will continue to make any payments on the basis of the existing IBAN.