09
Aug
2024
Legal overview
Banking and financial law
Companies and taxation
Criminal law
International and European law
Property and construction law
Insurance law
IT and communication law
Public law
Family Office
Compliance
2024
Legal overview
Banking and financial law — Companies and taxation — Criminal law — International and European law — Property and construction law — Insurance law — IT and communication law — Public law — Family Office — Compliance
Monthly Legal Overview (July 2024)
99 AVOCATS is pleased to propose a selection of Monaco's legal news for July 2024 (publications in the Journal de Monaco and others, legislative work).
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TEXTS PUBLISHED IN THE JOURNAL DE MONACO
PUBLISHED LAWS
◾Law no. 1.560 of 2 July 2024 on the regulation of property dealers
Law no. 1.560 (JDM no. 8705 of 26 July 2024) autonomously regulates the activity of property dealers (declaration or administrative authorisation, financial guarantee, civil liability insurance, new system of half exemption from registration duties, etc.).
◾Law no. 1.561 of 2 July 2024 on the right to be forgotten and other measures to facilitate access to credit
Law no. 1.561 (JDM no. 8705 of 26 July 2024) enshrines the right to be forgotten, making it possible not to declare an old pathology, and facilitates access to insurance and credit for people with an aggravated health risk, based on the standards of the French AERAS Convention.
◾Law no. 1.562 of 2 July 2024 on subsidiary medical cover
Law no. 1.562 (JDM no. 8705 of 26 July 2024) institutes a basic, fee-paying medical cover, offered by the State to Monegasques and residents in the Principality for at least 5 years, aimed at making up for the refusal of private sector cover and ineligibility for "State medical aid".
INTERNATIONAL TAX COOPERATION
◾Automatic exchange of information on financial account: new system of administrative penalties
Sovereign Order no. 10.641 of 27 June 2024 (JDM no. 8702 of 7 July 2024) remodels the system of administrative (pecuniary) penalties applicable to Monaco reporting financial institutions in the context of the automatic exchange of information on financial accounts, set by Sovereign Order no. 6.208 of 20 December 2016.
CRIMINAL
◾State compensation for victims of sexual offences, offences against children, domestic violence and other personal offences
Sovereign Order no. 10.640 of 27 June 2024 (JDM no. 8702 of 7th July 2024) implements Law no. 1.555 of 14 December 2023: compensation claim form and supporting documents that must accompany it; determination and payment of compensation.
PUBLIC
◾Appointment of the Minister of State ("Ministre d'État")
Sovereign Order no. 10.653 of 4 July 2024 (JDM no. 8702 of 5 July 2024) appoints Mr Didier GUILLAUME, former French Minister for Agriculture and Food, Minister of State, with effect from 2 September 2024. He will succeed H.E. Mr Pierre DARTOUT.
◾Appointment of the Government Counsellor-Minister for the Interior ("Conseiller de Gouvernement-Ministre de l'Intérieur")
Sovereign Order no. 10.652 of 4 July 2024 (JDM no. 8702 of 5 July 2024) appoints Mr Lionel BEFFRE, former French Prefect of Seine-et-Marne, as Government Counsellor-Minister of the Interior, with effect from 5 August 2024. He succeeds Mr Patrice CELLARIO.
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OTHER PUBLICATIONS
ADMINISTRATIVE CASE LAW
◾The principle of presumption of innocence does not apply to administrative police measures
The Supreme Court ("Tribunal Suprême") recently had occasion to point out that the principle of presumption of innocence cannot be usefully invoked against a decision falling within the category of administrative police measures which do not constitute sanctions of a punitive nature.
FATF ● MONEYVAL
◾New Guidelines from the Monegasque Financial Security Authority ("Autorité Monégasque de Sécurité Financière" AMSF)
On 10 July 2024, the AMSF published the French versions of the "Private Banking and Wealth Management" and "Politically Exposed Persons (PEP)" Guidelines.
Read the English version (VGB)
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LEGISLATIVE WORK
JUSTICE
◾Filing of Bill no. 1097 amending law no. 1.398 of 24 June 2013 relating to the administration and organisation of the judiciary
Bill no. 1097 enshrines in law the principle of setting the tariff of State bailiffs' fees by sovereign order on the report of the Directeur des Services Judiciaires (equivalent to the Minister of Justice) (abolition of tariff revision by publication of a law and then a sovereign order, which would be instead set out exclusively by regulations).
COMPANIES
◾Retraction of Bill no. 1050 on non-trading companies for health professionals
On 2 July 2024, the Government announced that it was withdrawing its Bill no. 1050 on the "société civile particulière de santé", particularly in view of the fact that Bill no. 1.094 on the modernisation of company law tabled on 21 June 2024 deals with partnerships of means for the benefit of the liberal professions.
Read more
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Other publications