Monthly Legal Overview (January 2024)

99 AVOCATS is pleased to propose a selection of legal news in Monaco for January 2024:

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PUBLIC • IT • DATA PRIVACY

◾"Take control of your data"!

Administrative Law Department's contribution to Data Protection Day on 28 January, with a retrospective on Monaco Law no. 1.165, which has just celebrated its 30th anniversary, an overview of the current reform, and a reflection on the theme "From careless submission to taking control of your data": which "data subject" are you?

More information

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COMPLIANCE • EUROPEAN UNION

◾ Ukraine: Focus on the 12th EU sanctions package

Ministerial Decisions 2024-1 of 3 January 2024 and 2023-107 of 19 December 2023 added a total of 149 entries to the national freeze list (62 individuals, 87 entities).

The Banking & Financial Law Department takes a closer look at the freezing and restrictive measures (sectoral and individual) in the 12th sanctions package adopted by the European Union.

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FINANCE

◾Increase in the legal interest rate on 1 February 2024

Sovereign Order no. 10.337 of 19 January 2024 (JDM no. 8679 of 26 January 2024) sets the legal interest rate (used to calculate interest on sums payable in the event of late payment) for all matters at 5% per annum from 1 February 2024 (compared with 4% from 1 August 2023).

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COMPLIANCE • MONEYVAL

◾Appointment of the Director of the Autorité Monégasque de Sécurité Financière (AMSF)

Sovereign Order no. 10.342 of 19 January 2024 (JDM no. 8679 of 26 January 2024) appoints as Director of the Monegasque Financial Security Authority (AMSF), Mrs Sophie SOLAMITO (common name THEVENOUX), Ambassador, Special Adviser in charge of European economic and financial issues.

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INTELLECTUAL PROPERTY

◾Application of the resale right ("droit de suite") for authors of original handwritten, graphic or plastic works

Sovereign Order no. 10.300 of 22 December 2023 (JDM no. 8676 of 5 January 2024) sets out the terms and conditions for the application of the resale right provided for in Article 11-1 of Law no. 491 of 24 November 1948 on the protection of literary and artistic works which was reformed by Law n° 1. 526 of 1 July 2022: works concerned, conditions and duration of authorisation to collect resale right, professional responsible for payment and terms of payment conditions of eligibility for resale right for non-Monegasque authors and co-authors and their successors in title.

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PUBLIC • SOCIAL

◾Value of pension and bonus points of the Caisse Monégasque de Retraite Complémentaire (CMRC) (Supplementary Retirement Fund)

Ministerial Decrees no. 2023-786 and no. 2023-786 of 27 December 2023 (JDM no. 8676 of 5 January 2024) set respectively :

• the value of the CMRC 2024 retirement point: €1.496 (the service value of the French Agirc-Arrco 2024 point is €1.4159);
• the monthly value of the CMRC 2024 bonus point: €0.006675.

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◾Revaluation of the minimum wage (S.M.I.C.) and minimum pay for apprentices on 1 January 2024

Circulars no. 2023-18 and no. 2023-20 of 26 December 2023 (JDM no. 8676 of 5 January 2024) list the new S.M.I.C. ("salaire minimum interprofessionnel de croissance") rates. For those aged 18 and over, the gross hourly rate has been increased (from €11.52 on 1 May 2023) to €11.65, giving a gross monthly salary of €1,968.85 (for 39 hours a week, i.e. 169 hours a month).

Similarly, Circular no. 2023-19 of 26 December 2023 lists the revised minimum wage scales for apprentices under an apprenticeship contract.

Minimum wages must be increased by an exceptional allowance of 5% of their amount (Article 2 of Ministerial Order no. 63-131 of 21 May 1963 setting minimum wage rates).

Circulars (Avis et Communiqués)

◾Focus on Draft Law no. 260 to strengthen the rights of people with disabilities

On 5 December 2023, the Government launched the "Handipact" National Policy on Disability Inclusion.

The Parliament ("Conseil National") is proposing to strengthen the rights enshrined in Framework Law no. 1.410 of 2 December 2014 on the protection, autonomy and promotion of the rights and freedoms of people with disabilities: strengthening the status of family carer, enshrining the obligation to employ people with disabilities (private and public sectors), creating a genuine self-employed status, introducing compensation covering all disabilities, extending the special education allowance to dependent adult children, enshrining the parenthood allowance.

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