Retrospective of the legislative and regulatory texts adopted in Monaco in May 2022

99 Avocats is pleased to propose a selection of legislative and regulatory texts published in the Journal de Monaco (JDM) in May 2022.

Increase in the amount of fees charged for formalities relating to the Trade and Industry Register, the Special Register for Civil Companies and the Special Register for the profession of commercial agent

The amounts of the fees charged for the completion of the formalities of registration, amendment, five-yearly declaration, issue of a copy, extract or certificate, are increased. Depending on the formality in question, the increase is between 5 and 35 euros.

Reference texts: Sovereign Orders 9.253, 9.254, 9.255 and 9.256 of 12 May 2022 (JDM n° 8591 of 20 May 2022).

Amendment of the regulation on financial activities

Eighteen new articles have been inserted into Sovereign Order 1.284 of 10 September 2007 in order to transcribe the conditions of application of the new provisions of Act 1.338 of 7 September 2007 on financial activities, recently amended and modernised by Act 1.515 of 23 December 2021:

– Definition of the financial activities (modernised wording) the exercise of which in Monaco requires the issuance of an authorisation by the CCAF;

– Modalities of application of stricter rules on conflicts of interest for authorised companies;

– Terms and conditions of the obligation to record telephone conversations and electronic communications of all services that authorised companies provide and all transactions that they carry out;

– List of relevant information to be retained for 5 years;

– Procedures for access to information by the CCAF to monitor compliance with the above obligations;

– Rules of procedure for CCAF’s investigations and documentary and on-the-spot checks;

– Criteria of integrity and absence of conflict of interest applicable to the members of the CCAF;

– Arrangements for meetings and deliberations of the CCAF;

– Procedures for the annual audit of the CCAF’s budgetary accounts.

Reference text : Sovereign Order 9.259 of 12 May 2022 (JDM n° 8591 of 20 May 2022).

Update of the list of High Risk Countries and Territories (ETHR)

The list of ETHRs with strategic deficiencies in their anti-money laundering, combating the financing of terrorism or combating corruption (to which increased vigilance applies) has been updated in line with the decisions of the FATF and the European Union:

– Addition: United Arab Emirates ;

– Deletions: Bahamas, Botswana, Ghana, Iraq, Mauritius.

Reference text: Ministerial Order 2022-234 of 6 May 2022 (JDM n° 8590 of 13 May 2022).

Promotion and protection of women’s rights through the amendment and repeal of obsolete and unequal provisions

The legislation passed on 5 May 2022 is part of the national policy aimed at achieving gender equality by amending or repealing provisions of Monegasque law that are outdated and discriminate against women.

For example: replacement of terms referring to androcentrism in the professional sphere or to a patriarchal conception of the family (“father”, “husband”, “son”, “brothers”, etc.); with regard to the devolution of inheritance, abolition of the presumption of survival determined by sex (in the event of death during the same event).

In total, nineteen legislative texts have been amended.

Reference text: Law 1.523 of 16 May 2022 on the promotion and protection of women’s rights by amending and repealing obsolete and unequal provisions (JDM n° 8592 of 27 May 2022).

New competences for midwives

The law passed on 5 May 2022 takes up the standards of French legislation which has transformed the profession of midwife, with the acquisition of new skills.

From now on, midwives practising in Monaco will be able to :

– prescribe and carry out vaccinations for the family and friends (any person living in the home or regularly attending the home) during pregnancy and the eight-week period following childbirth (list of vaccines identical to that of the neighbouring country, set by ministerial decree);

– prescribe screening for sexually transmitted infections to the woman and her partner, and treatment for these infections (list identical to that of the neighbouring country, set by ministerial order).

Reference text: Law 1.525 of 16 May 2022 amending certain provisions relating to the profession of midwife provided for by the Ordinance of 29 May 1894 on the professions of doctor, surgeon, dentist, midwife and herbalist (JDM n° 8592 of 27 May 2022).

Relaxation of the regulations applicable to foreign taxis and Tourist Vehicles with Drivers

The collection of clients on the territory of the Principality of Monaco by foreign taxis or Tourist Vehicles with Drivers is subject to prior authorisation from the Director of Public Safety, which consists of a vignette granted for each vehicle operated.

The maximum number of vignettes granted for the period from 1 May 2022 to 31 October 2022 (“high season” vignette) is 210 (an increase of 50% compared to 2021).

At the same time, the conditions for issuing the vignette are relaxed:

– for foreign taxis: removal of the requirement to have acquired at least one vignette during the previous five years;

– for foreign Tourist Vehicles with Driver: relaxation of the requirement of “legal existence of the activity carried out by the applicant for at least three years” by adding “including, possibly, under various successive corporate forms”, and suppression of the requirement to have acquired at least one vignette, for at least two years, over the previous three-year period.

Reference texts: Ministerial Orders 2022-258, 2022-259, 2022-260, 2022-261, 2022-262 of 20 May 2022 (JDM n° 8591 of 20 May 2022).