Home > Legislation > Panel Of Laws > Act 1.322 of 9 November 2006
Act 1.322 of 9 November 2006 amending Articles 218-1 to 218-3 of the Penal Code


ALBERT II
BY THE GRACE OF GOD
SOVEREIGN PRINCE OF MONACO

Have given and give Our assent to the Act set forth below, adopted by the National Council at its session on 26 October 2006.

Article 1

Article 218-1 of the Penal Code is amended as follows:

"The offences referred to in the preceding article shall be constituted even though the offence from which the laundered funds derive has been committed in another country, if it is punishable in the Principality and in the State where it has been perpetrated.

Attempts to commit the above-mentioned offences shall incur the same penalties as the completed offence.

The same shall apply to conspiracy or association with a view to committing the above-mentioned offences."

Article 2

Article 218-2 of the Penal Code is amended as follows:

"Any person who, in disregard of his professional obligations, provides assistance with any transfer, investment, concealment or conversion of assets or funds of unlawful origin shall be liable to one to five years' imprisonment and the fine provided for at Article 26.4, the maximum amount of which may be increased tenfold, or to one only of those two penalties."

Article 3

Article 218-3 of the Penal Code is amended as follows:

"For the purposes of the present section, assets and funds of unlawful origin are deemed to be the proceeds of offences punishable in Monacan law by more than three years' imprisonment.

The proceeds of the offences mentioned at Articles 82, 83, 115, 118, 119, 265, 268, 304, 324, 327, 328-5, 335, 337, 360, 362, 363 and 364 of the Penal Code, Articles 44 and 45 of Act 606 of 20 June 1955, Articles 23, 24 and 25 of Act 1.058 of 10 June 1983 and Article 26-1 of Act 1.194 of 9 July 1997 are also deemed to be assets and funds of unlawful origin."

This Act is promulgated and shall be enforced as a law of the State.
Done in Our Palace at Monaco on the ninth of November two thousand and six.


ALBERT
By the Prince,
The Secretary of State:
R. NOVELLA
Last updated: February 25, 2008 (03:04) Copyright © 2014 Service Informatique du Ministère d'Etat www.gouv.mc