House of Representatives Adopts Finance Bill 65.20 for Fiscal Year 2021 (2nd Reading) and Government Bill 43.20 on Trust Services for Electronic Transactions
The House of Representatives adopted by a majority of votes, on Tuesday, December 8th, 2020, the Finance Bill 65.20 for the fiscal year 2021, and unanimously the Government Bill 43.20 on trust services for electronic transactions. The adoption took place in a plenary sitting chaired by Speaker of House of Representatives Habib El Malki, with the participation of Minister of State in Charge of Human Rights and Relations with the Parliament Mustapha Ramid; Minister of Economy, Finance and Administration Reform Mohamed Benchaaboun; and Minister Delegate to the Head of Government in charge of the Administration of National Defense Abdellatif Loudiyi.
During the discussion of Finance Bill 65.20, the representatives of the parliamentary groups and caucus highlighted that the Kingdom is facing major economic challenges due to the propagation of COVID-19, noting the importance of investment in the social sectors, and commending the project of generalizing health and social coverage, launched by His Majesty King Mohammed VI.
The deputies noted that reviving the economy relies on promoting local products, supporting Moroccan enterprises and citizens' purchasing power, and the realization of major projects. The deputies also lauded the creation of the Mohammed VI Investment Fund, a national investment fund contributing to advancing economic competitiveness and supporting the Kingdom's major projects during the post-pandemic period.
On this occasion, the deputies renewed their congratulations on the success of Morocco regarding the foremost national cause, particularly the operation to secure the Guerguarate crossing in a pacific and highly professional manner shown by the Royal Armed Forces under the leadership of His Majesty King Mohammed VI, Supreme Commander and Chief of General Staff of the FAR. They also expressed their pride of the strong unity of Moroccans and their consensus on the territorial integrity of the Kingdom.
With its adoption by the House of Representatives in the second reading, the 2021 Finance Bill accomplishes its examination procedure within the Parliament. It will enter into force following its publication in the Official Gazette.
On another note, and in his presentation of Government Bill 43.20 on trust services for electronic transactions, Minister Delegate to the Head of Government in charge of the Administration of National Defense Abdellatif Loudiyi stressed that this project "is a cornerstone for the rest of the legislation in the areas of cybersecurity and digital trust." He explained that the great digital development of the Kingdom calls for creating a climate of trust that includes all digital services and provides economic actors and public administrations with a legal environment that enables launching new services and ensures legal protection for citizens, and encourages them to opt for digital transactions.
The purpose of this Bill is to establish a new legal framework that meets the needs of the public and private economic actors, public administrations, and citizens by regulating electronic signatures, electronic seals, electronic time stamping, registered electronic transmission services, and website verification.
The Bill also seeks to establish a less restrictive and more appropriate legal framework for various transactions and to clarify the legal effect of simple and advanced electronic signatures so that the legal effect of the two electronic signatures cannot be disapproved simply because they are presented in electronic format or because they do not meet the requirements of a certified electronic signature. It also aims to broaden the scope of the Law in force to include documents issued by credit institutions and similar bodies.