The Free Territory of Trieste was to be a city-state situated in Central Europe between northern Italy and Yugoslavia, created by the United Nations Security Council in the aftermath of World War II and provisionally administered by an appointed American or British military governor commanding the peacekeeping American and British forces stationed there.
The Free Territory was decided on 10 February 1947 by a protocol of the Italian Peace Treaty in order to accommodate an ethnically and culturally mixed population in a neutral independent country. The intention was also to cool down territorial claims between Italy and Yugoslavia, due to its strategic importance for trade with Central Europe. It came into existence on 15 September 1947. It was divided into two zones: one being the port city of Trieste with a narrow coastal strip to the north west (Zone A); the other, larger (Zone B) was formed by a small portion of the north-western part of the Istrian peninsula.
The Free Territory was taken over by its two neighbours in 1954 and officially dissolved by the Treaty of Osimo of 1975 even if never ratified by the United Nations Security Council that means that formally still exists.
Massive bullshit. Only States can ratify treaties. What is more, lex posterior derogat priori: so the provisions of the Treaty of Osimo were introduced in the Italian law exactly as those from of the Peace Treaty signed after WWII, overriding them. History is not a novel. Boring things happen all the time and generally norm prevails over the exception.