L 237/70 Official Journal of the European Union 4.9.2008 (Acts adopted under the EC Treaty/Euratom Treaty whose publication is not obligatory) DECISIONS COMMISSION COMMISSION DECISION of 11 March 2008 on State aid C 15/07 (ex NN 20/07) implemented by Italy on the tax incentives in favour of certain restructured banks (notified under document number C(2008) 869) (Only the Italian version is authentic) (Text with EEA relevance) (2008/711/EC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, and in particular the first subparagraph of Article 88(2) thereof, Having regard to the Agreement on the European Economic Area, and in particular Article 62(1)(a) thereof, Having called on interested parties to submit their comments pursuant to the provision cited above (1), Whereas: 1. PROCEDURE (1)  On 24 December 2003, the Italian Parliament enacted Law No 350 of 24 December 2003 (Law 350/2003) (3), which at Article 2(26) provides a special tax realignment scheme for the assets of certain banks resulting from or concerned with banking reorganisations pursuant to Law No 218 of 30 July 1990 (Law 218/1990) on the priva- tisation of the State-owned banking sector in Italy. (2)  The Italian authorities did not notify the scheme to the Commission for State aid review pursuant to () O] C 154, 7.7.2007, p. 15. (%) Italy’s Budget Law for 2004, Official Journal of the Italian Republic No 299 of 27.12.2003. Article 88(3) of the EC Treaty. The Commission, however, initiated a preliminary review of the scheme. By letter dated 26 September 2005 (D/57424), the Commission requested the Italian authorities to provide all the relevant information to examine the compatibility of the scheme with State aid rules and its lawfulness pursuant to the obligation to notify any plan to grant State aid under Article 88(3) of the EC Treaty. By letter of 29 November 2005 (A[39913), Italy provided the information requested. By letter dated 31 March 2006, the Commission requested additional clarifications to Italy as to the possible State aid nature of the scheme in review and its compatibility with the common market. By letter of 5 May 2006 (A[33466), Italy provided the requested information. On 3 July 2006, the Commission met the Italian auth- orities to discuss the functioning and justification of the tax scheme in review. During the meeting the Commission took note of the explanations provided by the Italian authorities while it maintained some doubts about the possible State aid nature of the scheme and its compatibility with the common market.