The Principality of Monaco is a hereditary and constitutional monarchy under the rule of law.
The present Constitution, adopted on 17th December 1962 and amended by Law no. 1.249 of 2nd April 2002 on Monaco becoming a member of the Council of Europe, stipulates in Article 2:
“The Principality is a State governed by the rule of law and committed to respecting fundamental liberties and rights”
Executive power is exercised by the Prince.
The Minister of State, assisted by the Government Councillors, is directly responsible to the Prince, not to the national Council (parliament of the Principality), for the administration of the State.
Judiciary powers are exercised by the courts and tribunals.
Legislative power is exercised by the Prince and the National Council.
The right to initiate legislation lies with the Prince.
The National Council votes on laws and may also propose legislation.
The National Council is made up of twenty-four members elected for five-year terms by universal suffrage of all citizens of Monegasque nationality aged eighteen and over.
The National Council sits twice yearly in two ordinary sessions, each lasting a maximum of three months.