In corporate arbitration matters, Italy may recognize a foreign regular arbitral award made under a statutory arbitration clause that places the seat of arbitration abroad. But there is a condition: the entire arbitral tribunal must be appointed by a third party outside the company, as required by Article 34, paragraph 2 of Legislative Decree No. 5 of 2003. Once this substantive requirement is met, the procedural provisions in Articles 35 and 36 of the same decree may be set aside by choosing different arbitration law, provided it respects the fundamental principles in the New York Convention of 10 June 1958 for recognizing arbitral awards.