Law no. 101 of 29 July 2013 represents the "Collection of provisions on banknotes and coins" implementing the Monetary Agreement signed between the Republic of San Marino and the European Union on 27 March 2012 and enforced through Parliamentary Decree no. 120 of 7 August 2012, with special reference to the provisions on euro banknotes and coins and relevant measures for the prevention of fraud and counterfeiting.
In implementing the provisions of art. 31 of the aforementioned Law, the State Congress issued the delegated decree no. 116 of 8 August 2013, which governs the penalty profiles.
In implementing the provisions of article 2 of such Law, the Central Bank issued the Regulation no. 2013-04† which, besides integrating the regulations for the full implementation of the community acquis on the authenticity and fitness checking of euro banknotes and coins, sets detailed and operating provisions incorporated in such Law and aimed at cash handlers, including lists of devices for the authentication or authentication and selection of euro banknotes (ECB list) and that of the coin processing machines (EC list).
The Bank of Italy and the Central Bank of the Republic of San Marino (CBSM) signed a new Memorandum of Understanding on cash services, as a result of the cooperation between the two Central Banks in this area.
The agreement provides for a structured data flow from the CBSM to the Bank of Italy and allows the CBSM: (i) to send damaged and suspected counterfeit banknotes to the Bank of Italy; and (ii) to manage the return of fit and unfit banknotes to and the withdrawal of banknotes from the Bank of Italys branch in Forlž.
The Agreement also regulates the transmission of statistical information on euro banknote recirculation and on euro coins issued by the Republic of San Marino.