03
May
2024
Legal overview
Banking and financial law
Companies and taxation
International and European law
Property and construction law
Insurance law
Labour law
Intellectual property law
Personal data
Public law
Family Office
Compliance
2024
Legal overview
Banking and financial law — Companies and taxation — International and European law — Property and construction law — Insurance law — Labour law — Intellectual property law — Personal data — Public law — Family Office — Compliance
Monthly Legal Overview (April 2024)
99 AVOCATS is pleased to provide you with a summary of the Principality's legal news (selection of texts published in the Journal de Monaco and progress of legislative work in April 2024).
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Texts published in the Journal de Monaco
INTERNATIONAL • COMPLIANCE
◾Update of the national list of States or Territories at High Risk of Money Laundering, Terrorist and Proliferation Financing (ETHR)
Ministerial Order no. 2024-217 of 15 April 2024 (JDM no. 8691 of 19 April 2024) updated the national list of ETHRs set by Ministerial Order no. 2021-703 of 8 November 2021 as amended, following the decisions of the FATF and the European Union. Added: Kenya, Namibia. Removed: Jordan, Cayman Islands.
MONEYVAL • COMPLIANCE
◾Checking the good repute of persons subject to Law no. 1.362 (regulations)
Sovereign Order no. 10.513 of 17 April 2024 (JDM no. 8691 of 19 April 2024) further amends Article 36-3 of Sovereign Order no. 2.318 of 3 August 2009 setting the conditions for application of Article 53-2 of Law no. 1.362 relating to the control of the good repute of the natural persons referred to in Article 1 of the said Law, as well as of the persons ensuring the effective management, the members, the shareholders and the beneficial owners of the undertakings and legal persons referred to in the same Article (elements of assessment).
CREDIT • REAL ESTATE
◾Usury rate (determination) for property loans to individuals
Sovereign Order no. 10.470 of 2 April 2024 (JDM no. 8.689 of 5 April 2024) repealing and replacing article 2 of Sovereign Order no. 2.271 of 6 July 2009 as amended, sets the "average rate charged under the same conditions by lenders acting in good faith" for home loans to individuals at 4.91% (compared to 4.01% previously).
PUBLIC • PERSONAL DATA
◾Entry and residence of foreigners in Monaco
In its Deliberation no. 2024-70 of 20 March 2024 (JDM no. 8689 of 5 April 2024), the Personal Data Controller ("Commission de Contrôle des Informations Nominatives", CCIN) ruled out the collection or consultation by the Direction de la Sûreté Publique of foreign residents' bank statements as proof of income.
◾The right to be forgotten and the right to privacy applied to publications in the Journal de Monaco
In its Deliberations no. 2024-71 and no. 2024-72 of 20 March 2024 (JDM no. 8691 of 19 April 2024), the Commission de Contrôle des Informations Nominatives (CCIN) recommended respectively, with regard to the personnel of public entities, that:
- the reason for retirement ‘on grounds of invalidity’ (health data) should no longer be mentioned in publications in the Journal de Monaco;
- disciplinary measures be dereferenced (de-indexed) from the Journal de Monaco website within a maximum of 2 years of publication.
SOCIAL • INSURANCE
◾Accidents at work and occupational illnesses: revaluation of pensions (1 April 2024)
Ministerial Order no. 2024-197 of 11 April 2024 (JDM no. 8691 of 19 April 2024) increases the value of pensions awarded in compensation for accidents at work and occupational diseases resulting in death or permanent disability of at least 10% from 1 April 2024.
PUBLIC • ADMINISTRATIVE
◾Discipline of contractual State employees
Ministerial Order no. 2024-189 of 8 April 2024 (JDM no. 8690 of 12th April 2024) sets out the composition, the procedure before the disciplinary board ("conseil de discipline") and the system of disciplinary sanctions pursuant to article 67 of Sovereign Order no. 9.640 of 23 December 2022 laying down general provisions of a statutory nature applicable to contractual State employees.
PUBLIC • STATISTICS
◾Resident population of Monaco in 2023
Ministerial Order no. 2024-193 of 15 April 2024 (JDM no. 8692 of 26 April 2024) publishes the official population figure for the Principality of Monaco for the year 2023: 38,367 people (39,050 in 2022). The IMSEE calculation is based on the registers of the Monaco Town Hall, the Directorate of Public Safety and the Directorate of National Education, Youth and Sport.
Population breakdown (IMSEE)
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Legislative work
PUBLIC • HEALTH
◾Bill no. 1090 on the management of risks associated with healthcare
(Government) Bill no. 1090, tabled in the Public Session of 3 April 2024, follows on from Law no. 1.541 of 16 December 2022 on nosocomial infections. It envisages two systems for managing risks associated with healthcare (prevention, analysis of causes in the event of occurrence, elimination of harmful effects, avoidance of recurrence): one applicable to healthcare establishments, the other to healthcare professionals.
◾Bill no. 1091 establishing the powers of public health inspectors
(Government) Bill no. 1091, also tabled in the Public Session of 3 April 2024, aims to remedy the failure of Sovereign Order no. 3.634 of 8 September 1966 to define the resources available to public health inspectors to carry out their duties.
REAL ESTATE • TAXATION
◾Bill 1064 relating to the supervision of the activity of property dealers
The Finance and National Economy Committee ("Commission des Finances et de l'Économie Nationale", CFEN) seized of (Government) Bill no. 1064 tabled in Public Session on 18 October 2022 continued its study work. The plan is to make property dealers subject to independent regulation, with new obligations and an overhaul of tax benefits, making them conditional on work actually being carried out before the property is resold.
INTELLECTUAL PROPERTY
◾Bill no. 1045 on the recognition and ownership of intellectual works
The Culture and Heritage Committee ("Commission Culture et Patrimoine", CCP) seized of (Government) Bill no. 1045 tabled in the Public Session of 14 September 2021 continued its work, in the consultation phase with the Principality's stakeholders. The proposed system is based on European Union legislation and would replace Law no. 491 of 24 November 1948 on the protection of literary and artistic works, as amended.
PUBLIC • SOCIAL
◾Draft law no. 260 amending Law no. 1.410 of 2 December 2014 on the protection, autonomy, and promotion of the rights and freedoms of people with disabilities
The Committee on Social Interests and Miscellaneous Affairs ("Commission des Intérêts Sociaux et des Affaires Diverses", CISAD) seized of the (parliamentary) Draft law no. 260 tabled in Public Session on 21 December 2023 has continued its work, in the consultation phase with the Principality's stakeholders. The text is in line with the National Plan for the Inclusion of People with Disabilities ‘Handipact’ launched on 5 December 2023.
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Other publications