SAN MARINO We the Captains Regent of the Most Serene Republic of San Marino Having regard to Article 4 of the Constitutional Law no.185 / 2005 and Article 6 of Qualified Law n.186 / 2005; Promulgate and publish the following Qualified Law approved by the Great and General Council at its meeting on 18 January 2012 with 45 votes in favor, 3 against and 1 non-voting: LAW QUALIFIED 26 January 2012 Ranked # 1 PROVISIONS FOR THE ACTIVATION AND OPERATION tHE COURT fOR tHE TRUST AND FIDUCIARY TRANSACTIONS TITLE I GENERAL PROVISIONS Art. 1 (definitions) 1. in this Act: a) "reports Trustees" means the legal relationships referred to in Article 2, paragraph 9, of the law constitutional October 30, 2003 n. 144, introduced by the Constitutional Law of 26 January 2012 establishing the Court 1 for the Trust and fiduciary relationships; b) "Court" means the Court for the trust and the trustees reports referred to the Constitutional Law of October 30, 2003 n. 144, introduced by the Constitutional Law of 26 January 2012 establishing the Court 1 for the Trust and fiduciary relationships; c) "President" means the President of the Court. TITLE II ESTABLISHMENT OF THE COURT FOR THE TRUST AND FIDUCIARY TRANSACTIONS Art. 2 (Functions) 1. The Court shall exercise the responsibilities set out in Article 2 of the Constitutional Law October 30, 2003 n. 144. Art. 3 (Election and appointment) 1. The Chairman and the members of the Court are elected by a majority of two thirds, by the Great and General Council. The Regency submits to the vote of the Council the names of the nominated candidates within the Office of the Presidency. 2. At least three months before the expiration of the mandate of the President and Members of the Court the Captains Regent convene the Bureau of the Great and General Council Presidency for the formulation of applications. 3. Applicants may be under San Marino or foreign citizenship and are appointed for five years. 4. The President and the Members of the Court, unless they intervene voluntary resignation or disqualification, may apply for the renewal of the mandate. 5. The President and members of the Court take on the task, taking the oath in the hands of Ecc.ma Regency. 6. The President and the members, after the expiry of the mandate, continue to exercise their functions until the appointment of new or renewal. 7. The President and members of the Court are not members of the Judicial Council. Art. 4 (Incompatibility) 1. The President and the Members of the Court may not hold office or conduct any activity in the field of political associations or trade union, may not be candidates for political or administrative elections or engaging in commercial or industrial activities , may not hold the office of director or statutory auditor, both in the Republic and abroad. 2. The President and the Members of the Court may not exercise the profession in the territory of the Republic. Art. 5 (retirement and deprival) 1. The resignation takes place by means of resignation submitted to the Regency. The waiver is effective immediately. 2. The President and members of the Court shall be removed from office if the supervening incompatibility set out in Article 4 of this Act. Art. 6 (Exclusion and objection) 1. The Chairman and the members of the Court shall apply the causes of abstention and disqualification under Article 10 of the Qualified Law of 30 October 2003 n. 145. 2. The decision lies with the Guarantors under applicable procedural rules, including those of the Law 25 April 2003 n. 55 mutatis mutandis. Art. 7 (Composition of the Court; the Chairman) 1. The Court shall consist of a Chairman and six permanent members. 2 2 The Chairman: a) organizes the judicial work of the Court and is not subject to the supervision of the Chief Judge; b) shall submit to the Executive Magistrate of the Single Court a report on the activities carried out by the Court. 3 With the regulation issued by the Court, published in the Official Bulletin, are established and regulated the other powers of the President, therein to regulate the use of Consilium sapientis, named among experts of clear reputation for trust and fiduciary relationships and those assigned by the decree managing issued under article 8. 4 in order to identify the experts referred to in paragraph 3) the Office of the Prime Minister Great and General, within sixty days since the Court, provides for the drafting of the appropriate register which will be submitted to the Great and General Council for the acknowledgment. Art. 8 (Procedure) 1. Delegated Decree shall be governed by the proceedings before the Court in order to
ensure the expeditious conduct of the processes in accordance with fundamental principles procedural order and in particular the right to defense and the contradictory. 2. The delegated decree: a. establish that it is for the President to determine the language or languages ​​of the proceedings, because of the closer connection that has the language with the facts of the case and the parties, and the ability to determine whether the case should be decided by the Court with a single judge, in a panel or in full Court, due to the complexity of the same and its connection with other systems that they can make more appropriate the assistance of the different courts and skills assessments; b. dictate rules and ways of simplifying the mechanisms of the procedure and speed up the notification of legal acts providing for, among other things, notifications also by registered letter, telegram or similar means; c. He will attribute to the Chairman the power to establish, from time to time, in what manner and by whom it consulted the case file; d. will govern the granting of precautionary and provisional measures, even atypical; is. will have the immediate enforcement of the Court's judgments; f. provide for simplification and reduction of procedural terms, than those of the civil procedure before the Tribunal Act, in order to accelerate the timetable for reaching the decision; g. will govern the patronage before the Court of forensic lawyers, in accordance with the rules governing the profession of lawyer and notary in the Republic; h. will regulate the procedural and substantive aspects of the decision in the cause and the ability of each court to issue dissenting opinions with respect to the decision of the majority; the. will govern the appeal stage, limiting the appeal solely to questions of law, without prejudice to the findings of fact made by the court of first instance and by introducing mechanisms that avoid the bringing of appeals only to defer the res judicata court decision being appealed; j. that will govern the duration of the appeal phase will not exceed 180 days since its introduction. Failing the appealed judgment becomes final; k. will regulate the mandatory use of the consilium sapientis by the Judge of Appeal,; the. will establish that against the judgment rendered by the Judge of Appeal, are not allowed appeals to the court of third instance; m. determine the emoluments of the judges of the court, tying him to the number of cases decided by each; 3 n. establish procedures and hedging method of functioning of the Court costs borne by the parties; or. will provide everything else is appropriate to ensure a streamlined and speedy trial before the Court and its operating fluid also delegating powers, to that effect, the Court itself. 3. The procedural rules of this Article shall be modified by ordinary law. TITLE III FINAL PROVISIONS Art. 9 (Entry into force) 1. This law comes into force on the fifth day following that of its legal publication. Our Residence, this day of 26 January 2012/1711 THE CAPTAINS REGENT Gabriele Gatti - Matteo Fiorini THE SECRETARY OF STATE FOR INTERNAL AFFAIRS Valeria Ciavatta 4