The match was originally scheduled to be played three weeks ago but was postponed due to a frozen pitch. The new fixture will be played in Rovigo on Saturday, kicking off at 2pm GMT.
If Nutley - who scored the Saints' winning try in last Sunday's Aviva Premiership Rugby win over London Irish - sees action it would be his first Under-20 cap. He had previously been unavailable for England's preceding two matches due to club commitments with the first team.
For Day the selection is his third on the bench in three games, although he has got onto the field in both of England's previous two wins over Scotland and Wales.
ENGLAND UNDER-20 TEAM TO PLAY ITALY
Six Nations
Rovigo
Saturday, March 3rd, 2012
Kick off 2:00pm GMT
15 Ben Ransom (Saracens)
14 Anthony Watson (London Irish)
13 Charlie Walker (Harlequins)
12 Sam Hill (Exeter Chiefs)
11 Marland Yarde (London Irish)
10 Henry Slade (Exeter Chiefs)
9 Dan Robson (Gloucester)
1 Luke Cowan-Dickie (Exeter Chiefs)
2 Scott Spurling (Saracens)
3 Kyle Sinckler (Harlequins)
4 Tom Price (Leicester Tigers)
5 Dom Barrow (Leeds Carnegie)
6 Matt Kvesic (Worcester Warriors)
7 Chris Walker (Leeds Carnegie) (Capt)
8 Will Skuse (Bath Rugby)
Replacements
16 Nathan Morris (London Wasp)
17 Alec Hepburn (London Wasps)
18 Nick Auterac (Saracens)
19 Ben Nutley (Northampton Saints)
20 Jack Clifford (Harlequins)
21 Alex Day (Northampton Saints)
22 Tommy Bell (Leeds Carnegie)
23 Josh Bassett (Bedford Blues)
