Source: https://www.global-regulation.com/translation/san-marino/2984356/decree-law-25-july-2013-ranked-%2523-98---ratification-law-decree-12-july-2013-n.82---urgent-provisions-bearing-changes-to-statement-of-prevention-and-c.html
Timestamp: 2019-09-15 16:05:39
Document Index: 612352580

Matched Legal Cases: ['Art. 1', 'Art. 2', 'Art. 4', 'Art. 3', 'Art. 5', 'Art. 4', 'Art. 16', 'Art. 5', 'Art. 6', 'Art. 7', 'Art. 8', 'Art. 9', 'Art. 26', 'Art. 10', 'Art. 11', 'Art. 28', 'Art. 12', 'Art. 29', 'Art. 13', 'Art. 33', 'Art. 14', 'Art. 15', 'Art. 43', 'Art. 16', 'Art. 17', 'Art. 18', 'Art. 19', 'Art. 20', 'Art. 21', 'Art. 47', 'Art. 47', 'art. 45', 'Art. 22', 'Art. 23', 'Art. 52', 'Art. 24', 'Art. 65', 'Art. 25', 'Art.95', 'Art. 26', 'Art. 1', 'Art. 27', 'Art. 28', 'Art. 29', 'Art. 30', 'Art. 31']

Machine Translation of "Decree Law 25 July 2013 Ranked # 98 - Ratification Law Decree 12 July 2013 N.82 - Urgent Provisions Bearing Changes To S..." (San Marino)
Decree Law 25 July 2013 Ranked # 98 - Ratification Law Decree 12 July 2013 N.82 - Urgent Provisions Bearing Changes To Statement Of Prevention And Contrast Of Recycling And Financing To Terrorism
Original Language Title: Decreto Legge 25 Luglio 2013 N.98 - Ratifica Decreto Legge 12 Luglio 2013 N.82  Disposizioni Urgenti Recanti Modifiche Alla Normativa Di Prevenzione E Contrasto Del Riciclaggio E Del Finanziamento Al Terrorismo
Read the untranslated law here: https://www.global-regulation.com/law/san-marino/2984356/decreto-legge-25-luglio-2013-n.98---ratifica-decreto-legge-12-luglio-2013-n.82--disposizioni-urgenti-recanti-modifiche-alla-normativa-di-prevenzione-e.html
LAW 30 November 1995 n REPUBLIC OF SAN MARINO DECREE - LAW July 25, 2013 n.98 (Ratification Decree-Law 82 of July 12, 2013) We the Captains Regent of the Most Serene Republic of San Marino The Decree - Law 82 of July 12, 2013 - "urgent measures bearing changes to legislation preventing and combating money laundering and financing terrorism", promulgated: Given the necessity and urgency referred to in Article 2, paragraph 2, point b) of the Constitutional Law of 15 December 2005 .183 and Article 12 of the Qualified Law 184 of 15 December 2005, namely: - the need to strengthen the integrity and soundness of the financial economy of San Marino and the international cooperation of the Republic of San Marino in the fight against money laundering and to financing of terrorism and the protection of national and international security; - The urgent need to take immediate enforcement to relevant standards for this purpose and to adapt national legislation in light of the need to respond rapidly to the latest international standards; Given the decision of the Congress of State no. 16 adopted at its meeting on July 9, 2013; Given the amendments to the above Decree in connection with ratification of the same by the Great and General Council at its meeting on 22 July 2013; The resolution of the Great and General Council # 4 of 22 July 2013; Having regard to Articles 8 and 9, paragraph 5, of the Qualified Law n.186 / 2005; We promulgate and publish the final text of the Decree - Law 82 of July 12, 2013 as amended as a result of the amendments approved by the Great and General Council at the time of ratification of the same: PROVISIONS THAT PROVIDE URGENT AMENDMENTS TO THE LAW ON THE PREVENTION AND COMBATING MONEY LAUNDERING AND TERRORIST FINANCING TITLE I AMENDMENTS TO tHE LAW June 17, 2008 # 92 Art. 1 1. Article 1 of Law 17 June 2008 n. 92, as amended by Article 1 of Decree - Law 11 November 2010 n. 181 and then by Article 1 of Decree - Law 26 July 2010 n. 134, is amended as follows: a) in paragraph 1, letter d) is so rewritten: "d)" shell bank "means an entity carrying out activities equivalent to those provided in Annex 1 of the law 17 November 2005 n. 165, that has been authorized or established in a jurisdiction in which it has no physical presence and which is unaffiliated with a regulated financial group subject to effective consolidated supervision. It has physical presence only when the direction and management are exercised in the country. Not the same as physical presence in the country the mere existence of a local agent or non-managerial staff; "b) in paragraph 1, letter n) is so rewritten:" n) "politically exposed person" means a natural person, identified on the basis of the technical criteria set out in Annex to this law, which occupies or has occupied in San Marino or abroad, prominent public functions. " Art. 2 1. Article 4 of Law 17 June 2008 n. 92, as amended by Article 2 of Decree - Law 187 of November 26, 2010 (Ratification Decree - Law 181 of 11 November 2010), it is replaced by the following: "Art. 4 (of the Financial Intelligence Functions) 1. The Agency shall have the following functions: a) receive suspicious transaction reports and other information required by law; b) to conduct the financial investigation of the reports received or even initiative, on the set of data and information available to it in relation to money laundering, associated predicate offenses and the financing of terrorism; c) Authority to report criminal judicial facts that may constitute money laundering or terrorist financing; d) issue instructions concerning the prevention and combating money laundering and terrorist financing; e) monitoring compliance with the obligations of this Law and relevant instructions issued by the Agency, following an approach based on the risk; f) participate in the work of national and international bodies engaged in the prevention and combating money laundering and the financing of terrorism by relating periodically to the Technical Committee of the National Coordination in the Decree - Law 187 of October 26, 2010, as amended; g) to cooperate, even exchanging information, with the competent national authorities and foreign counterparts through communication channels dedicated and protected.!. 2. The Agency analyzes and studies the financial flows in order to detect and prevent money laundering and terrorist financing, with the obligation to report every six months to the Authority Criminal Judicial everything analyzed and studied.
3 The Agency monitors the proper fulfillment by the parties referred to in Article 17 to the obligations referred to in this law, in the form and manner established by it, even with the aid of periodic information and questionnaires. ". Art. 3 1. Article 5 of Law 17 June 2008 n. 92 is amended as follows: "Art. 5 (Powers of the Financial Intelligence) 1. To carry out the functions assigned to it by this Act, the Agency, in a written and motivated in relation to the purpose of prevention and combating money laundering and terrorist financing, it has the power to: a) to order the obliged parties producing or delivery of documents, even in the original, or the communication of data and information, in the manner and within the terms established by it, even as a result of access to the inspection; b) ask the Central Bank, the government and police authorities the communication of data or information or the performance or delivery of acts or documents in the manner and within the terms established by the Agency; c) carry out inspections at the designated subjects. If the person designated uses external parties to fulfill their obligations under this law, the inspections may also be carried out by such persons; d) have the blockade of goods, funds or other economic resources if there is a reason to believe that such goods, funds or resources come from money laundering or terrorist financing, or may be used to commit such offenses; e) to suspend, even on criminal judicial authority so requests, or a foreign financial intelligence units, for a maximum of five working days, suspicions of money laundering or terrorist financing; f) assume summary information from the people who can relate to the circumstances relevant to the investigation concerning the offenses of money laundering, associated predicate offenses and the financing of terrorism, as well as crimes and administrative violations under this Act; g) order financial subjects, including at the request of a foreign financial intelligence units and for a fixed period, monitoring of one or more ongoing relationships entertained, according to the terms and procedures established by the Agency; h) inform, for preventive purposes, the person referred to in Article 18 of this Law concerning operations, even try, or in relation to persons and circumstances that may involve a risk of money laundering or terrorist financing. 2. In exercising the powers provided for in the preceding paragraph, the Agency may make use of police personnel. 3. The Agency notes according to the most suitable manner, even in summary, all that we do. Except as required by specific provisions of this Act, the Agency shall draw up minutes of the information obtained pursuant to paragraph 1, letter f). 4. The judicial authority may delegate to the Agency the execution of acts of investigation in proceedings relating to the offenses of money laundering and terrorist financing, as well as crimes and administrative violations under this Act. In this case, the Agency acts as the judicial police. Acts carried out on Judicial Authority delegation are documented by the minutes. ". Art. 4 1. Article 16 of Law 17 June 2008 n. 92, as amended by Article 6 of the Law of 19 June 2009 73 is replaced as follows: "Art. 16 (Cooperation with foreign authorities) 1. The Agency also works by exchanging information, on the basis of reciprocity, with foreign authorities that carry out, in whole or in part, at least functionally equivalent or similar to their own. This exchange of information can take place on request or initiative. 2. The foreign counterparts must guarantee the same conditions of confidentiality of information guaranteed by the Agency in order not to prejudice the outcome of financial investigations or requests for information. 3. The Agency, in order to regulate the cooperation activities referred to in paragraph 1, may enter into appropriate memoranda of understanding that, once signed, they will be brought to the attention of the Committee for Credit and Savings. 4. The information exchanged may be used by the foreign authorities to the sole purpose of preventing and combating money laundering, associated predicate offenses and the financing of terrorism. They can not be forwarded to third parties without the prior written consent of the Agency and are subject to official secrecy. 5. The information exchanged may not be used to initiate or pursue administrative investigations, police or judicial authorities without the prior written consent of the Agency.
6. The Agency exchanges with its foreign counterparts all the information that it is able to achieve at the national level. ". Art. 5 1. The letter c), Article 18 of Law 17 June 2008 n. 92 is amended as follows: "c) the National Post Office when offering postal financial services described in Annex A) of Law 54 of 21 May 2012;". Art. 6 1. The letter f), Article 18 of Law 17 June 2008 n. 92 is eliminated. Art. 7 1. In Article 19, paragraph 1, of the Law 17 June 2008 n. 92, as amended by Article 6 of the Decree - Law of 26 July 2010 n. 134 and later replaced by Article 8 of the Decree - Law 187 of November 26, 2010 (Ratification Decree - Law 181 of 11 November 2010), the letters l) and m) are replaced by the following letters: "l) trade in stones or precious metals; m) hire movable property; ". 2. In Article 19, paragraph 1, of the Law 17 June 2008 n. 92, as amended by Article 6 of the Decree - Law of 26 July 2010 n. 134 and later replaced by Article 8 of the Decree - Law 187 of November 26, 2010 (Ratification Decree - Law 181 of 11 November 2010), it is the following point: "n) professional activities of debt collection for third parties. ". Art. 8 1. Paragraph 4, Article 23 of Law 17 June 2008 n. 92, as amended by Article 9 of the Decree - Law of 26 July 2010 n. 134, is amended as follows: "4. The verification of the customer and beneficial owner can be completed as soon as possible, and no later than 10 working days after the establishment of an ongoing relationship, if there is low risk of money laundering or terrorist financing and if this is necessary not to interrupt the normal course of business. The customer may be allowed the use of the account before the audit is completed, only if the conditions provided for by the internal procedures of risk management which has designated the subject. Such procedures include limitations also in relation to the number, type or amount of the transactions that the customer can carry out. ". Art. 9 1. Article 26 of Law 17 June 2008 n. 92, as amended by Article 11 of the Decree - Law of 26 July 2010 n. 134, is amended as follows: "Art. 26 (simplified customer due diligence requirements) 1. The parties may, on its own responsibility and based on appropriate risk assessment, simplified fulfill the obligations of customer due diligence, whether this is: a) a subject financial assistance under Article 18, letters a), b) and c); b) a foreign entity carrying out primarily attributable to an activity reserved activities mentioned in letters A), B), C), D) and E) of Annex 1 to Law 165 of 17 November 2005, inaugurated a country which imposes requirements equivalent to those laid down in this Act and provides for the supervision and control of compliance with the requirements for the prevention and combating money laundering and terrorist financing; c) a foreign entity carrying out an activity equivalent to that indicated in Article 18, paragraph 1, letter c) located in a State which imposes requirements equivalent to those laid down in this Act and provides for the supervision and control of compliance with obligations prevention and combating money laundering and terrorist financing; d) a company listed on a regulated market of a State, provided that such market is subject to rules of operation in compliance with or equivalent to those laid down in EU legislation; e) an administration public. 2. The parties may fulfill the obligations of simplified customer due diligence in respect of: a) life insurance contracts, where the annual premium does not exceed 1,000 euro or the single premium is not more than 2,500 EUR ; b) supplementary pension schemes provided they do not involve surrender clause and may not be used as collateral for a loan to outside the cases provided by law; c) pension schemes compulsory and complementary or similar scheme that provides retirement benefits for which contributions are made by way of deduction from income and the scheme rules do not permit the beneficiaries, except after the death of the owner, to transfer their rights . 3. The Agency may indicate instruction categories of persons, products or services characterized by a potential low risk of money laundering or terrorist financing, for which apply the simplified customer due diligence obligations. 4. In cases provided for in the preceding paragraphs, the parties shall collect data and
enough information to determine whether the customer could fall in these cases. 5. The persons appointed are not permitted to apply simplified due diligence in case of suspicion of money laundering or terrorist financing or in situations which by their nature can present a higher risk of money laundering or terrorist financing. 6. In any case, the designated persons shall not be permitted to apply simplified due diligence procedures in cases where the customer has his headquarters or residence in countries subject to monitoring by the FATF or other international organization engaged in the prevention and combating money laundering and terrorist financing. ". Art. 10 1. It repealed Article 26 bis of Law 17 June 2008 n. 92, introduced by Article 10 of the Decree - Law 187 of November 26, 2010 (Ratification Decree - Law 181 of 11 November 2010). Art. 11 1. Article 28 of Law 17 June 2008 n. 92 is amended as follows: "Art. 28 (Prohibition to operate with shell banks) 1. For the Financial parties are prohibited from establishing and maintaining relationships with a shell bank or a foreign financial entity known to permit banks to be used by shell their accounts. 2. The financial parties shall ensure that the foreign financial entity does not allow their accounts to be used by shell banks. 3. The relationships in place should be closed immediately, subject to the abstention obligations and reporting set out in Articles 24 and 36 of this Law. ". Art. 12 1. Article 29 of Law 17 June 2008 n. 92, as amended by Article 13 of Decree-Law 26 July 2010 n. 134, is amended as follows: "Art. 29 (Fulfilment of customer due diligence requirements through third parties) 1. The obliged parties may rely on the fulfillment of the obligations referred to in Article 22, paragraph 1, letters a), b) and c) carried out by third parties with where customers have ongoing relationships or to which they have conferred responsible for carrying out an occasional transaction. To this end, the third parties are required to issue, if required by the customer, appropriate certificate of having fulfilled the customer due diligence obligations. The designated subjects, in this case too, the ultimate responsibility for the obligations of identification and verification of identity of customers. 2. The parties shall ensure that the purposes of this article, the third parties are financial entities referred to in Article 18, paragraph 1, letters a), b) and c) and Article 26, paragraph 1, letter b). 3. The parties shall ensure that third parties are able to fulfill the obligations of diligence and to put immediately available to them designated, immediately and without simple request, the information acquired in fulfillment of the customer due diligence obligations referred to the activities listed in Article 22, paragraph 1, letters a), b) and c). 4. The Agency may issue its other categories of third party instructions on which parties may rely in order to avoid the repetition of the obligations set out in Article 22, paragraph 1, letters a), b) and c). ". Art. 13 1. After Article 33 of Law 17 June 2008 n. 92 is inserted as follows: "Art. 33a (Collaboration of the candidates with foreign counterparts) 1. When an entity designated in the exercise of its business and in order to establish or maintain a business relationship or perform an occasional transaction or a professional performance, undertakes a relationship foreign entity subject to obligations comparable to those provided for in Title III of this Act, it has the obligation to provide, at the request of the foreign entity that contains specific reference to the need to fulfill the customer due diligence obligations imposed by its national legislation, all the required and necessary information for the performance of such obligations. ". Art. 14 1. In Article 42, paragraph 1, of the Law 17 June 2008 n. 92, as amended by Article 17 of the Decree - Law of 26 July 2010 n. 134, the following words are deleted: "organized in corporate form." Art. 15 1. Article 43 of Law 17 June 2008 n. 92, as amended by Article 16 of the Decree - Law 187 of November 26, 2010 (Ratification Decree - Law 181 of 11 November 2010), is amended as follows: "Art. 43 (Responsible lecturer at the non-financial entities) 1. Non-financial parties shall appoint a compliance officer. As far as applicable apply the provisions of Article 42. ". Art. 16
1. Paragraph 3 of Article 44 of Law 17 June 2008 n. 92, as amended by Article 19 of the Decree-Law of 26 July 2010 n. 134, is replaced by the following: "3. The parties shall promote staff development through participation in special training programs on prevention and combating money laundering and terrorist financing. This training should ensure that employees are kept informed of new developments in the field of money laundering and financing of terrorism, including information on the techniques, methods and trends and have appropriate understanding of the current laws and instructions issued by the Agency, with particular reference the obligations relating to customer due diligence and reporting of suspicious transactions. ". Art. 17 1. Paragraph 7 of Article 44 of Law 17 June 2008 n. 92, as amended by Article 19 of the Decree - Law of 26 July 2010 n. 134, is replaced by the following: "7. The parties shall adopt strict procedures of selection of personnel and collaborators in relation to the role, functions or duties for which they are intended. The parties shall also adopt procedures that require the assumption that subsequent tests should be repeated in the course of employment. ". 2. After paragraph 7 of Article 44 of Law 17 June 2008 n. 92, as amended by Article 19 of the Decree - Law of 26 July 2010 n. 134 and in the preceding paragraph, the following paragraph is added: "8. The policies, procedures and internal controls of the previous paragraphs shall relate, among other things, the customer due diligence obligations, the suspicious transaction recording and reporting requirements, as well as the identification of operations that, for the complexity, for the unusually high amount, for the unusual pattern of execution or for the absence of a lawful purpose or of an apparent economic justification, need of a concrete verification of compatibility with respect to the profile of the customer itself. ". Art. 18 1. After the words: "TITLE IV MEASURES TO PREVENT, COMBAT AND PUNISH THE FINANCING OF TERRORISM AND THE ACTIVITY OF COUNTRIES THAT THREATEN PEACE AND INTERNATIONAL SECURITY" Law of 17 June 2008. 92, the following article: "Art is added. 45a (Scope) 1. The provisions of this Title shall apply with respect to the timely freezing of assets or funds, aimed at ensuring that such property, money or other benefits are not made available, directly or indirectly, for the benefit of: a) any person or entity designated or subject to the authority of the Security Council of the United Nations or one of its Committees, under chapter VII of the Charter of the United Nations, also in accordance with resolution 1267 (1999), 1988 (2011), 1989 (2011) and subsequent resolutions; b) any person or entity designated pursuant to UN Resolution 1373 (2001); c) any person or entity designated or under the authority of the UN Security Council or of a Committee under Chapter VII of the Charter of the United Nations, also in accordance with the resolutions on the prevention, suppression and disruption the proliferation of weapons of mass destruction and its financing. ". Art. 19 1. Article 46, paragraph 1, letter a) of Law 17 June 2008 n. 92 is amended as follows: "a) the freezing of funds and economic resources owned or controlled, directly or indirectly, by persons, entities or groups included in the lists drawn up by the appropriate Committees of the United Nations or by persons, groups or entities designated pursuant to of the United Nations Security Council Resolution 1373 (2001), as well as goods or funds derived or generated from funds or other assets held or controlled, directly or indirectly, by persons included in the lists, by terrorists, those who finance terrorism or terrorist organizations, as well as by persons acting on their behalf or under their direction; ". Art. 20 1. Article 46 of Law 17 June 2008 n. 92 is added the following paragraph: "7 The Congress of State may also impose additional measures to those contained in the Council resolutions of the United Nations Security or one of its Committees.". Art. 21 1. After Article 47 of Law 17 June 2008 n. 92 are introduced the following products: "Art. 47a (Removal procedures from a list of the United Nations) 1. The removal of a name from a list of the Council of the United Nations or its Security Committee, in accordance with Article 45 bis, paragraph 1, letter b) , can be made in one of the following ways:
a) through the focal point established at the General Secretariat of the United Nations, b) through diplomatic channels. 2. In the case referred to in paragraph 1 letter a), individuals, groups and entities included on the list of UN sanctions committees may submit an application directly to the focal point set up at the General Secretariat of the United Nations, to adopting the necessary measures for the removal of their names from that list. 3. In the case referred to in paragraph 1, letter b), without prejudice to the procedure described in the preceding paragraph, individuals, groups and entities listed in the list, who are nationals of San Marino, which is established within the Republic of San Marino, can advance written request and motivated the Committee for Credit and Savings, through the Secretariat of State for Foreign Affairs or his Mission or Representation, to send a special request to the focal point so that the necessary steps are taken to remove their names from the list. Art. 47b (Revocation and revision of freezing) 1. In the cases provided for by art. 45 bis, paragraph 1, letter b): a) the freezing referred to in Article 46, paragraph 1, letter a) may be revoked at any time by the Congress through a specific resolution state as a result of the request of one member of the Committee for Credit and Savings, or at the request of anyone who claims to be affected, when there are no reasonable grounds to believe that individuals, groups and entities affected by such a measure can commit or groped to commit or participate in or facilitate the commission of the acts mentioned in Article 1, paragraph 1, letter k) and p). b) the freezing referred to in Article 46, paragraph 1, letter a) must automatically be reviewed every 60 days and must be lifted when there are no longer reasonable grounds for believing that individuals, groups and entities affected by such measures can commit or groped to commit or participate in or facilitate the commission of the acts mentioned in Article 1, paragraph 1, letter k) and p). 2. At the request of anyone who has been affected by the freezing referred to in Article 46, paragraph 1, letter a), the Committee for Credit and Savings may: a) give the applicant the funds necessary for primary expenses, which include food , rent or mortgage, medicines and medical treatment, taxes, insurance premiums and utility bills; b) give the applicant the funds necessary for the exclusive payment of reasonable fees and reimbursement related to legal services; c) give the applicant the funds necessary for the exclusive payment of taxes relating to the management of frozen assets. 3. For the purposes set forth in Article 45 bis, paragraph 1, letter a) and c), instead of the standards referred to in the preceding paragraphs shall apply the provisions laid down by the Security Council of the United Nations or one of its Committees. ". Art. 22 1. Article 49, paragraph 1, of the Law 17 June 2008 n. 92, as amended by Article 20 of the Decree - Law of 11 November 2010 n. 181, is amended as follows: "1. The Committee for Credit and Savings, pursuant to Law 96 of June 29, 2005, as amended, is the competent authority for the purposes of the designation and other subsequent actions such as cancellation and abrogation of a freezing. The Committee also evaluates the requests for exemption from the freezing of funds and economic resources submitted by interested parties. The decision must be adopted without delay. ". Art. 23 1. Article 52 of Law 17 June 2008 n. 92 is amended as follows: "Art. 52 (Training of police personnel) 1. The police corps must ensure the training of its staff with training in financial investigations and, to that end, promote courses and training cycles. ". Art. 24 1. After Article 65 of Law 17 June 2008 n. 92 is introduced as follows: "Art. 65a (Violations of the monitoring requirements) 1. Unless the act constitutes a crime, anyone who, without good reason, fails to comply, delay or hinder the implementation of a monitoring order of Article 5, paragraph 1, letter g ) shall be punished with fine from 1.000,00 to 50.000,00 euro. ". Art. 25 1. After Article 95 of Law 17 June 2008 n. 92 is introduced as follows: "Art.95 bis (Termination of the right to a refund in relation to transactions for which there are not fulfilled the due diligence and passbook savings obligations in bearer form) 1. Transactions for which the December 31, 2013, due diligence obligations have not been fulfilled extinguished by law as from 1 January 2014.
2. No later than 15 January 2014 the parties shall notify the Agency of Financial Information existing relations for which they have not been able to fulfill the due diligence requirements of the customers as at 31 December 2013. 3. The right the restitution of the sums arising from extinction by law the reports referred to in the first paragraph and passbook savings bearer, not extinct or not converted into registered relationships in the terms provided by the Decree - Law 136 of 22 September 2009, to partial derogation of the provisions hereof and the provisions of Article 6 of the Delegate Decree 136 of 31 October 2008, will lapse as follows: - 1 January 2014 for deposit passbooks bearer; - April 1, 2014 for other types of banking relationships. 3a. The reports referred to in paragraph 1 may not be moved until the obliged parties have not complied with due diligence obligations. 4. A specific regulation will be regulated the criteria and the procedure and transfer times on the guarantee fund for depositors of the sums of money on these reports and booklets indicated in paragraphs 1 and 3. By the same regulation are also regulated the further effects deriving the extinction of the relationship and the rights referred to in the preceding paragraphs. ". Art. 26 1. Article 1 of the Technical Annex of the Law 17 June 2008 n. 92, as amended by Article 29 of the Decree - Law of 26 July 2010 n. 134, is replaced by the following: "Art. 1 (Politically exposed persons referred to in Article 1, paragraph 1, letter n) 1. "politically exposed person" means any natural person who occupies or has occupied important public positions, including those mentioned below, even if differently known as: 1) head of state, government member, a member of Parliament, a senior official of a political party or high-level political, 2) a member of the judiciary, 3) member of the Board, the direction of central banks or authorities watch, 4) ambassador, chargé d'affaires, senior officer in the armed forces and police, 5) a member of the administrative, management or supervisory bodies of companies owned or partly owned by the State, 6) direction member of the board of administration or having equivalent senior position in an international organization; 2. They must be treated as the following people politically exposed persons: a) the family and in-laws coming of the persons specified in the preceding paragraph or those with whom such persons known to be close ties, including the following subjects: 1) the spouse or partner considered as equivalent to the spouse, 2) children and their spouses, 3) the parents; b) the natural person who is known to have with a person referred to in paragraph 1 the beneficial ownership of companies or legal entities; c) the natural person who is the sole beneficial owner of the company or legal entity or legal institutions famously created effectively for the benefit of one of the persons referred to in paragraph 1. 3. The termination of office does not exempt the parties from fulfilling designated, depending on the risk, strengthened obligations of customer due diligence. ". 4. Do not fall under the definition set out in paragraph 1 of this Article, individuals who hold the previous positions at a lower level than those of the summit. ". TITLE II AMENDMENTS TO DELEGATE DECREE November 28, 2008 146 (RATIFICATION DELEGATED DECREE 31 October 2008 135) Art. 27 1. Article 8 of the Chief Executive Decree 146 of November 28, 2008 (Ratification Chief Executive Decree 31 October 2008 n. 135) is added the following paragraph: "7. The Agency shall adopt internal policies and procedures relating to the maintenance checks, in-chief to his staff, the requirements of professionalism, integrity and honesty. ". TITLE III AMENDMENTS TO THE LAW OF MARCH 1, 2010 42 ( "The institution of the trust") Art. 28 1. Article 7, last paragraph of the law 1 March 2010 n.42 is replaced by the following: "2. It is imposed, the subject tenutario the Trust Register, an administrative fine of a minimum of € 3,000.00 to a maximum of EUR 15,000.00 to the resident trustee or agent resident who has failed to draw up the certificate of trust within the period specified in paragraph 1. ". Art. 29 1. Article 8, last paragraph of the law 1 March 2010 n.42 is replaced by the following: "8. It is imposed, the subject tenutario the Trust Register, an administrative fine of a minimum of € 2,000.00 to a maximum of EUR 10,000.00 to the notary, to the resident trustee and agent resident who have not paid the registration of the trust within the terms
respectively provided in paragraphs 3 and 5. The resident trustee or the resident agent who fail to request the cancellation of the trust from the Register if the conditions referred to in paragraph 6 shall be punished with the same fine. ". Art. 30 1. Article 13 of the Law of 1 March 2010 42 is replaced by the following: "Section 13 (Changing the trust of the trust) 1. The trust act may provide that the provisions contained therein and the choice of the governing law be modified in the interests of the beneficiaries or to promote the purpose of the trust. 2. The modification of the act is subject to the requirements of Article 6, paragraph 1, of the Law. 3. Any person who makes or receives changes to the items listed in the Article 8 must notify the trustee within thirty days after the change is made or received. If the trustee is not a resident, it must give notice to the agent residing within fifteen days since he made or received the change. 4. At the defaulting party to the notification obligations referred to in the previous paragraph shall be imposed an administrative fine of a minimum of € 2,000.00 up to a maximum of EUR 10,000.00 from the subject tenutario the Trust Register. 5. The resident trustee or the resident agent communicate using certificate to the office of the amendments to the elements that are shown in the Trust Register referred to in Article 8, within fifteen days from the time when the work or receives. The Office provides to its original attestation annotations in the margins. 6. The certificate is signed by the resident trustee or agent residing with authenticated signature of a notary public, which shall ascertain their veracity. 7. It imposed an administrative fine of a minimum of € 2,000.00 up to a maximum of EUR 10,000.00 to the resident trustee or agent resident who does not carry out the terms of the communications provided for in paragraph 5. 8. It is compulsory to 'resident agent to question, at least every half year, the non-resident trustee about any supervening amendment made to the items listed in the Article 8, by registered letter forwarded to tenutario also the subject of the Trust Register in March and September of each year. 9. It imposed an administrative fine of a minimum of € 2,000.00 up to a maximum of EUR 10,000.00 from the subject of the madam of the Trust Agent resident registry who does not perform correctly the obligation imposed by the previous paragraph. 10. The modification of the Act shall not prejudice the effects of the acts which the trustee validly completed before such a change. ". TITLE IV TRANSITIONAL AND FINAL PROVISIONS Art. 31 1. Within two months of the entry into force of this Decree - Law, the financial parties shall conduct a monitoring of the relationships in place to comply with the provisions of article 11 of this Decree - Law . The result of the monitoring must be communicated to the Agency within three months of the entry into force of this Decree - Law. 2. No later than 31 December 2013 by delegated decree will specify the subjects included in the definitions in Article 1 of the Technical Annex of the Law 92 of June 17, 2008, because of the office held in the Republic of San Marino, as well as measures to be adopted pursuant to Article 27 of Law 92 of June 17, 2008, based on the type and level of risk associated with the customer. By reason of the foregoing, the changes introduced by Article 26 of this Decree, become effective upon the entry into force of delegated decree referred to in this paragraph. Given at Our Residence, this day of July 25 2013/1712 THE CAPTAINS REGENT Antonella Mularoni - Denis Friends THE SECRETARY OF STATE FOR INTERNAL AFFAIRS Gian Carlo Venturini
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