Banking and Finance 2025

MACAU SAR, CHINA Law and Practice Contributed by: Frederico Rato, Pedro Cortés and Calvin Tinlop Chui, Lektou

involving a range of financing tools, such as bank financing, export credit agency financing and project bonds. 8.7 Natural Resources In accordance with the Basic Law of Macau, the land and natural resources within the region are regarded as state property, except for private land recognised as such according to the laws in force before the establishment of the Macau SAR. The government is responsible for the management, use and develop- ment of state property and for leasing or granting it to individuals or legal persons for use or development. The revenues derived therefrom shall be exclusively at the disposal of the government of the region. 8.8 Environmental, Health and Safety Laws The environmental, health and safety laws applica- ble to projects are also applicable in general circum- stances. The guidelines and fundamental principles governing environmental policy in Macau are set out in Law No 2/91/M, dated 11 March 1991 (the “Macau Environ- mental Law”), which seeks to enhance the protection and sustainable development of the environment. As a general principle, the Macau Environmental Law pre- scribes that everyone has the right to an ecologically balanced environment, as well as a duty to collectively promote an improved quality of life. In order to achieve this goal, all projects and construc- tions that may affect the environment or the health of citizens must be subject to a preliminary environmen- tal impact assessment. Moreover, the Macau Envi- ronmental Law prescribes that violations of environ- mental legislation will be punished with civil liability, administrative fines or criminal liability (Article 268 of the Macau Criminal Code prescribes this for pollution- related crimes), depending on the degree of the viola- tion in question. Also, injunctions may be granted in order to put a stop to environmental infringements. The regulatory authority in charge of monitoring envi- ronmental protection matters is the Environment Pro- tection Services Bureau. However, police authorities are also legally entitled to impose preventative meas- ures with respect to time period restrictions.

Regarding water and marine pollution, in particular, Decree-Law No 46/96/M defines the technical con- ditions that must be satisfied in order to ensure the global functioning of the public water distribution sys- tem, the preservation of public health, and the safety of the users and the installations, whereas Decree- Law No 35/97/M provides for the protection of the marine environment from pollution. The latter further prohibits the discharge of any solid or liquid residues – in particular, petroleum or chemical substances – that may contaminate marine water, beaches or coastal areas, and affect their flora and fauna. As an employer, a contractor has to comply with the conditions prescribed under Law No 2/2023 (the “Law on Occupational Safety and Health in the Construction Industry”) and Decree-Law No 34/93/M (the “Legal Regime of Noise at Work”), in order to provide safe, clean and environmentally friendly working conditions for employees. Failure to comply with those rules may result in the application of fines, according to the pro- visions set out by Law No 2/2023 and Decree-Law No 48/94/M (the “Sanctions Regime for Non-compliance with the Legal Regime of Noise at Work”). Regarding the working environment in general, an employer must comply with the rules provided under Decree-Law No 37/89/M (the “General Regulation of Work Safety and Hygiene of Offices, Services and Commercial Establishments”), in order to provide a safe and clean working environment for its employees. Failure to comply with those rules may result in the employer being fined, according to the provisions set out by Decree-Law No 13/91/M (the “Sanctions for Non-compliance with the General Regulation of Work Safety and Hygiene of Offices, Services and Com- mercial Establishments”).

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