Client Alert

As of March 15^th, 2019, the constitutional amendment will become effective, whereby: (i) the second paragraph of the article 22 will be reformed, and a third, fourth and fifth paragraph will be added to the same article, and (ii) the amendment to the XXX subsection of the article 73 of the Mexican Constitution (“CPEUM”) was approved.

The purpose of the amendment of the article 22 is to extinguish the ownership of such assets that derive from investigations of corruption, fraud, crimes committed by public officers, organized crime, car theft, illicit origins, health crimes, kidnapping, extortion, human traffic and crimes regarding hydrocarbons, oil as well as chemicals, and cannot be credited as legitimate assets.

The action of extinction of ownership will be exercised by the Public Prosecutors Office, through a civil proceeding, aside from the criminal procedure.

The amendment to the subsection XXX of the article 73 CPEUM will empower the Congress to elaborate an act regarding the extinction of ownership, according to the article 22 CPEUM.

If you have any questions, request our assistance or additional information, please contact us.

Contact

Rafael Sánchez
rsanchez@cuestacampos.com

Franscela Sapien
fsapien@cuestacampos.com

www.cuestacampos.com

The above is provided as general information prepared by professionals with regard to the subject matter. This document only refers to the applicable law in Mexico. While every effort has been made to ensure accuracy, no responsibility can be accepted for errors or omissions. The information contained herein should not be relied on as legal, accounting or professional advice being rendered.