10
Oct
2024
Legal overview
Banking and financial law
Companies and taxation
Criminal law
International and European law
Labour law
Public law
Compliance
2024
Legal overview
Banking and financial law — Companies and taxation — Criminal law — International and European law — Labour law — Public law — Compliance
Monthly Legal News (September 2024)
99 AVOCATS is pleased to offer you a selection of Monaco's legal news and events for the month of September (publications in the Journal de Monaco and others) and of its events.
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EVENTS
LIFE OF OUR LAW FIRM
◾Me Sarah FILIPPI, new partner of 99 AVOCATS !
We are very pleased to announce that Me Sarah FILIPPI and her team are joining our firm! We are delighted to open this new chapter in the history of 99 AVOCATS ASSOCIÉS!
Watch the video
WEALTH MANAGEMENT
◾Global Leaders 5th Annual Wealth Management Forum
Patricia KEMAYOU MENGUE, Associate Manager, took part in the 5th Annual Wealth Management Forum organised in London by Global Leaders Forum on 10 and 11 September.
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TEXTS PUBLISHED IN THE JOURNAL DE MONACO
BANKING ● FINANCIAL
◾Usury rate (determination): review for loans and overdrafts
Sovereign Order no. 10.831 of 19 September 2024 (JDM n° 8.714 of 27th September 2024) repeals and replaces Article 2 of Sovereign Order no. 2.271 of 6th July 2009 relating to the determination of the usury rate (average rate charged under the same conditions by lenders acting in good faith).
SOCIAL ● COMPLIANCE
◾Employer's obligations with regard to the management of emergency first aid for workers who have suffered an accident or are unwell
Ministerial Order no. 2024-504 of 19 September 2024 (JDM no. 8714 of 27 September 2024) sets out the conditions for managing emergency first aid for workers who are victims of an accident or who are taken ill. It will come into force on 27 September 2025, giving employers 1 year to comply with the obligations incumbent on them (first aid training, firts aid room, etc.).
MONEYVAL
◾Coordination and monitoring Committee for the national AML/CFT strategy (membership)
Sovereign Order no. 10.744 of 5 August 2024 (JDM no. 8712 of 13 September 2024) amends Sovereign Order no. 9.729 of 1 February 2023 which created a strengthened coordination and monitoring Committee for the national strategy to combat money laundering, the financing of terrorism and the proliferation of weapons of mass destruction and corruption, at the same time as the MONEYVAL evaluation:
- New members of the second college (in the role of advisor to the first college): President of the Chamber of Legal Advisers and President of the Société des Bains de Mer (or their representatives);
- List of the main tasks of the Committee's Permanent Secretariat (interministerial unit reporting to the Minister of State).
TAXATION
◾VAT: transcription of new tax measures (applicable on 1 January 2024 or 1 January 2025)
Sovereign Order no. 10.832 of 19 September 2024 and Ministerial Order no. 2024-516 of 23 September 2024 (JDM no. 8714 of 27 September 2024) transcribe the new rules, respectively in the Sales Tax Code (Code des taxes sur le chiffre d'affaires "CTCA") and in the Appendix to the Code.
INTERNATIONAL
◾Chancery fees: increase in rates from 1 November 2024
Sovereign Order no. 10.821 of 5 September 2024 (JDM no. 8712 of 13 September 2024) increases by 10 euros the fees charged for civil status and administrative documents issued by Monaco's diplomatic and consular Chancelleries, set by Sovereign Order no. 15.881 of 22 July 2003, as amended.
SOCIAL
◾Commission responsible for assessing the residual earning capacity of the victim of an accident at work (appointments)
The Order of the Secretary of State for Justice, Director of Judicial Services no. 2024-30 of 16 September 2024 (JDM no. 8713 of 20 September 2024) appoints the Chairman (Président) and Alternate Chairman (Président suppléant) of the Commission, with effect from 1 October 2024, respectively Ms Aline GRINDA, common name BROUSSE, and Ms Alexia BRIANTI, First Judges of the Court of First Instance.
Residual earning capacity is assessed taking into account the state of the labour market, the range of jobs that may be suitable for the victim and his or her theoretical performance in the new occupation that he or she may be forced to pursue.
CRIMINAL
◾Jurors (Criminal Court)
Ministerial Order no. 2024-450 of 30 July 2024 (JDM no. 8711 of 6 September 2024) establishes the list of 30 persons who may be called upon to sit as jurors on the Criminal Court (Tribunal criminel) for a period of three years ( Monegasques who have reached the age of majority and have never been sentenced to a criminal or correctional penalty).
Appointment of the three jurors to sit on the Criminal Court: the President of the Criminal Court, or the magistrate delegated by him, sitting in open court, in the presence of the accused and the Public Prosecutor and, where applicable, the civil party, draws lots to determine the order in which the jurors will be called to sit (articles 269, 277-1 of the Code of Criminal Procedure).
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OTHER PUBLICATIONS
COUNCIL OF EUROPE
◾Combating violence against women and domestic violence in Monaco: GREVIO's first thematic evaluation report
On 12 September 2024, the Group of Experts on Combating Violence against Women and Domestic Violence (GREVIO) published its report on Monaco for the first thematic evaluation cycle ‘Building trust by providing support, protection and justice’, as well as Monaco's observations on the said Report.
◾Fight against corruption: implementation of GRECO recommendations
In a Dispatch dated 12 September 2024, the Government announced that it had met ‘to work on all the themes in order to identify concrete actions to best meet GRECO's recommendations’ in its 5th Round Evaluation Report on the theme of ‘Preventing corruption and promoting integrity in central governments (senior executive positions) and law enforcement agencies’, published on 24 July last.
COMPLIANCE
◾Ukraine (EU): significant update to the national list of persons subject to a freeze on funds and economic resources
Minister of State decision no. 2024-79 of 13 September 2024 makes 140 amendments to the national list of natural and legal persons subject to a measure freezing funds and economic resources, in accordance with Council implementing Regulation (EU) 2024/2455 of 12 September 2024.
FATF
◾Coordination and monitoring Committee for the national AML/CFT strategy (meeting)
In a Press Release dated 20 September 2024, the Government announced the meeting of the first College of the Committee:
- adoption of the mandate of the Committee's Permanent Secretariat;
- reminder of the requirements and objectives set for Monaco by the FATF Action Plan to be implemented within 18 months.
UN ● OFFICE FOUR OUTER SPACE AFFAIRS
◾Space activities: towards a Monegasque legal framework
In a Press Release dated 9 September 2024, the Government stated that it had received a delegation from the United Nations Office for Outer Space Affairs (UNOOSA) from 4 to 6 September for a technical advisory mission, ‘with a view to Monaco's accession to the main international treaties on outer space’, and to ‘adopt national legislation to regulate private space activities carried out on Monegasque territory and ensure the State's legal security, in accordance with the applicable international rules’.
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Other publications