During a public session by Monaco’s National Council on June 18, five new bills were passed. Elected officials voted on twelve texts in total, including nine bills and three proposed laws during the busy session.
Children in shared custody
Perhaps the most important law that was passed was the Shared Residence law (Bill No. 1106). It changes the framework for shared residence by placing the best interests of the child at the heart of judicial decisions.
“This text is based on an essential principle: the child’s right to maintain a balanced relationship with both parents, regardless of conflicts between adults,” said Christine Pasquier-Ciulla, President of the Legislation Committee and Rapporteur.
Unanimously approved by elected officials, the bill relates to children of separated parents and stipulates that a guardianship judge may order alternating residences at the home of each of the parents, even in the absence of agreement from one or both parents, when it suits the best interest of the child.
Four other bills passed…
Next, the Monegasque Heritage Foundation (Bill No. 268) creates a new legal instrument designed to provide residents with modern, regulated, and secure management of their assets.
“It is time for Monaco to equip itself with a modern wealth management tool, comparable to those in force in competing financial centres, while remaining exemplary in terms of transparency and compliance requirements,” said Jean-Louis Grinda, Vice-President of the National Council and Rapporteur.
Budget Law (Bill No. 270) modernizes and clarifies the State’s budgetary framework for better management of public finances.
“This bill reinforces the principles of transparency and rigour in the management of public funds. It also constitutes a significant step forward in enabling more flexible implementation of the national budget and providing the National Council with the essential tools to exercise its budgetary responsibilities,” said Christophe Brico, President of the Committee for Monitoring the Constitutional Reserve Fund and the Modernization of Public Accounts and the first signatory of the bill.
Digital Provisions (Bill No. 1093) resulted from a proposed law and allows Monaco to pursue its digital development.
“This text updates and strengthens our legal framework to make it ever more modern and competitive in order to promote the Principality’s digital attractiveness,” said Nicolas Croesi, President of the Digital Development Commission and Rapporteur.
Lastly, Vehicle Pledging (Bill No. 1102) strengthens the security of financial guarantees in the automotive sector.
“This text secures car loans and protects creditors against any disputes,” said Karen Aliprendi, Vice-President of the Environment and Quality of Life Commission for Transport and Events and Rapporteur.
Before adjourning the Public Session, President Thomas Brezzo praised the work of the civil servants involved every day in serving the State.
