09
Jul
2024
Legal overview
Banking and financial law
Companies and taxation
Criminal law
International and European law
Property and construction law
Insurance law
Commercial law
Civil law
Family law
Labour law
IT and communication law
Personal data
Public law
Family Office
2024
Legal overview
Banking and financial law — Companies and taxation — Criminal law — International and European law — Property and construction law — Insurance law — Commercial law — Civil law — Family law — Labour law — IT and communication law — Personal data — Public law — Family Office
Monthly Legal Overview (June 2024)
99 AVOCATS is pleased to propose a selection of Monaco's legal news (publications in the Journal de Monaco and others, legislative work) and events in which it took part.
* * *
EVENTS
◾Eversheds Sutherland Global Relationship Firm Conference 2024
Ewelina WASOWSKA, Head of the Family Office Department, and Anouchka JOURDAN, Associate in the Corporate & Tax Department, have taken part in the Global Relationship Firm Conference 2024 "Collaborate globally, thrive locally", organised by Eversheds Sutherland on 4 June 2024 in London.
* * *
TEXTS PUBLISHED IN THE JOURNAL DE MONACO
FATF ● MONEYVAL
◾Mutual legal assistance in seizure and confiscation as part of the fight against money laundering
Sovereign Order no. 10.576 of 29 May 2024 (JDM n° 8698 of 7 June 2024) standardises the mutual legal assistance regime pursuant to three multilateral conventions of the United Nations and the Council of Europe, established by Sovereign Order n° 15.457 of 9 August 2002, with the ordinary law regime amended following the MONEYVAL Report.
PUBLIC
◾Appointment of members of the Commission de Contrôle des Informations Nominatives (CCIN)
Sovereign Order no. 10.609 of 10 June 2024 (JDM n° 8699 of 14 June 2024) appoints the 6 members of the CCIN (personal data protection supervisor) with effect from 19 June 2024, for 5 years: Mrs Léa PARIENTI, Messrs Jacques RIT, Jacques BOISSON, Philippe BOTTO, Robert CHANAS, Jean-François CUILLIEYRIER.
INTERNATIONAL
◾New delimitation of consular districts in the United States
Sovereign Order no. 10.605 of 10 June 2024 (JDM no. 8699 of 14 June 2024) increases the number of consular districts in the United States of America to 11, with the addition of Seattle (States of Washington, Oregon, Idaho and Montana).
* * *
OTHER PUBLICATIONS
FATF ● MONEYVAL
◾Grey list and exit timetable
The timetable for Monaco's removal from the FATF grey list "extends over a year and a half (until January 2026), with two intermediate milestones (May 2025, September 2025)". (Monaco Government press release, 28 June 2024).
PERSONAL DATA PROTECTION
◾CCIN Activity Report
The Commission de Contrôle des Informations Nominatives (CCIN) published its 15th Activity Report for 2023 (complaints, investigations, sanctions, opinions on draft legislation, fact sheets, etc.).
* * *
LEGISLATIVE WORK
LAWS PASSED
◾Bill no. 1064 on the regulation of the activity of property dealers
Bill 1064, adopted on 27 June 2024, independently regulates the activity of property dealers (declaration or administrative authorisation, financial guarantee, civil liability insurance, new system of exemption from half of the registration fees, etc.).
◾Bill no. 1085 on the right to be forgotten and other measures to facilitate access to credit
Bill 1085, adopted on 27 June 2024, enshrines the right to forget one's past illnesses, and facilitates access to insurance and credit for people with an aggravated health risk by drawing on the standards of the French AERAS Convention.
◾Bill no. 1089 relating to subsidiary medical cover ("couverture médicale subsidiaire")
Bill no. 1089, adopted on 27 June 2024, introduces basic medical cover for a fee, offered by the State to Monegasques and residents in the Principality for at least 5 years, to compensate for the refusal of private sector cover and ineligibility for State medical aid ("aide médicale de l’Etat").
NEW BILLS
◾Bill no. 1093 amending various digital provisions
Bill no.1093, which was received by the Parliament ("Conseil National") on 22 May 2024, makes a number of important amendments, in particular to Law no. 1.382 for a Digital Principality (new trust services, online service providers, exchanges between public bodies and users, data policy, etc.), to Law no. 1.483 on digital identity (digital identity portfolio), and to the Civil Code with regard to electronic writings.
◾Bill no. 1094 on the modernisation of company law
Bill no. 1094 received by the National Council on 21 June 2024 provides for major changes in company law (creation of the single-member limited liability company ("Société Unipersonnelle à Responsabilité Limitée" SURL), overhaul of the regime governing Monegasque public limited companies ("sociétés anonymes" SAM), creation of a conciliation procedure to avoid suspension of payments, etc.), a secure legal framework and an attractive environment for investors.
◾Bill no. 1095 on traineeship in the professional environment
Bill no. 1095, received by the National Council on 28 June 2024, provides a legal framework for trainees ("stages") of students from higher education establishments (currently regulated by a circular).
DRAFT LAW PASSED
◾Draft Law no. 261 on the promotion and supervision of alternating residence for children of separated parents
The aim of Draft Law no. 261, adopted on 27 June 2024, is to enshrine the power of the guardianship judge to impose alternating residence in the event of disagreement between the parents, if this is in the best interests of the child.
NEW DRAFT LAWS
◾Draft Law no. 262 on the Time Savings Account ("compte épargne-temps" CET)
Draft Law no. 262 tabled on 12 June 2024 aims to extend the use of the CET (introduced by Law no. 1.505 of 24 June 2021 on the concerted organisation of working time - "aménagement concerté du temps de travail") to all private sector employees.
◾Draft Law no. 263 amending Law no. 1.492 of 8 July 2020 on the introduction of a right to a bank account
Bill no. 263 tabled on 27 June 2024 provides for strengthening the effectiveness of the right to open a deposit and payment account with a Monegasque credit institution, which has been in force since 17 October 2020.
◾Draft Law no. 264 banning the sale and consumption of single-use electronic vaping products
Draft Law no. 264, tabled on 27 June 2024, aims to ban the sale and consumption of single-use vaping devices ("puff") in all public places, and to ban the consumption of reusable vaping devices in certain places.
◾Draft Law no. 265 instituting a master development plan ("schéma directeur de développement")
Draft Law no. 265, tabled on 27 June 2024, aims to provide the State with a legal urban planning document: the "schéma directeur de développement" (SDD), in order to coordinate the Principality's forward-looking policy in line with the principles of sustainable development and quality of life.
* * *
Other publications