Media and Data Protection
- Pursuant to article 67 of the Law n°09-08 and with the effective establishment of the CNDP members, starting from 15 November 2012, all legal persons which conducts a personal data treatment in the course of their activities, shall now comply with the provisions of the Law n°09-08 especially those regarding (i) the formalities must be performed by the data controller (prior statement/prior authorization), (ii) the duties regarding the process of personal data, and (iii) rules governing the control of the National Commission for the Protection of Personal Data (CNDP). There is no tolerance anymore and all the companies have to comply with all the provisions of the Law n°09-08.
- A bill n°136-12 regarding the approbation of the Cybercrime convention signed in Budapest on November 23, 2001 and of its additional Protocol signed in Strasburg on January 28, 2003, has been during the month of October circulated to the members of government.
- A bill n°75-12 approving the Arab Convention against information technology crimes dated was submitted on October 29, 2012 to the Commission of justice, legislation and human rights of the Moroccan Parliament.
Companies law and regulations including free zones
The Moroccan parliament has adopted during its plenary session dated November 7, 2012 the following text:
- Law n°41-12 modifying and completing the Law n° 18-97 regarding the microcredit. This text aims to facilitate the activities related to microcredit through an association or joint venture. This facilitation will be done directly through a microcredit association, or indirectly through another microcredit association or holding company approved by “Bank Al-Maghrib” as a credit institution.
- Law n°44-12 regarding the public offering rules and the information required for legal entities and agencies using public offering. The text defines the term of "Advertising", a "financial canvassing" and ''Financial Intermediaries." It also allows the Moroccan capital market Authority to request from the party who initiates the public offering to delegate to an independent expert to conduct, on behalf of and at the expense of this party, a review of technical information given by the initiator on his “information bulletin”.
- Law n°45-12 regarding the securities lending. This text aims to establish accounting standards specific to securities lending transactions to ensure the neutrality and to submit this transactions to the control of the Ethics Board Securities.
- This law regulates and secures lending operations in Morocco, subjects the loan of securities to the Code of Obligations and Contracts and lists the bodies authorized to perform the credit of securities and approve the list of securities.
- A draft amendment (bill n°33-06) regarding the securitization framework adopted by the Moroccan governing council was submitted to the parliament in the same time of the deposit of the Financial Bill proposal. This text tends to broaden the base and actors of securitization in Morocco. This text will contribute to establish a modern legal framework of the financial sector. This text has a close relation with the “Casablanca Finance City” project.
- A bill n°76-12 approving the Arab Convention against Transnational Organized Crime (including Cyber-criminality) signed in Cairo on December 21, 2010 was submitted on October 29, 2012 to the Commission of justice, legislation and human rights of the Moroccan Parliament.
- A draft decree for the implementation of Law n°15-09 regarding trade defence Instrument/measures is under approbation. This draft decree outlines the methodology and practical terms for determining the margin of dumping and subsidization, the methods for calculation of the normal value and export prices, calculation of the grant amount, etc.
- The Moroccan Parliament has approved in a plenary session taking place in the night of Saturday to Sunday, the Finance Bill proposal of 2013. This budget provides 200 billion dirhams (DH) investment, is aiming for a growth of 4.5%, reducing 4.8% of the budget deficit relative to GDP and other measures in connection with the social sectors and reducing unemployment.
- The Finance bill proposal focuses on three areas: improving the national economy competitiveness, the promotion of employment mechanisms and reduction of territorial and social disparities, including rural development, reforms structural, especially the Organic Law of Finance.
- A bill n°137-12 regarding the approbation of the double taxation Agreement signed in Ouagadougou on May 18, 2012 between the Moroccan Government and the Burkina Faso Government has been recently circulated to the members of government.
- The Agreement between the European Union and the Kingdom of Morocco establishing a dispute settlement mechanism signed in Brussels on 13 December 2010 is entered into force on November 1, 2012.
Mohamed Oulkhouir Partner -CWA in association with Eversheds [email protected]