Chapter IV. Public Domain, Public Finance
Public domain is unalienable and imprescriptible.
A public domain property may be closed down or change purpose only if pronounced by law. Law may allocate decommissioned property to the State or Commune’s public domain, as the case may be.
Public domain’s consistency and regime are determined by law.
The Crown’s property is submitted to The Sovereignty’s exercise.
They are unalienable and imprescriptible.
Its consistency and regime are determined by the House Laws at the Sovereign Family.
Real estate property and rights pertinent to private State held property are transferable only in accordance with the law.
The law gives authorisation to sell a part of the business capital of which at least fifty per cent is held by the State, thereby transferring the majority of this capital to one or more physical person or private law legal persons.
All vacant and ownerless property belongs to the private State domain.
The national budget comprises all public revenue and public expenditure of the Principality.
The national budget expresses the Principality’s economic and financial policy.
Budget is subject to a budget bill. It is voted and promulgated in the form of a law.
The Sovereign Household’s expenses and those of the Prince Palace are determined by budget law and withdrawn in priority from the budget’s general public revenue.
The revenue surplus over expenditure, established after budget implementation and year end closing of accounts, is credited to a constitutional reserve fund. The excess of expenditure over revenue provides cover withdrawing from the same account, after enactment of the relevant law.
Control of financial management is ensured by a Higher Audit Commission.