This article outlines the legal framework governing the misuse of corporate assets in Morocco as of 2025. It reviews criminal liability provisions and identifies the primary statutory references relevant to businesses operating in the country.
Legal Foundations Addressing Misuse of Corporate Assets
Morocco imposes direct criminal liability for the misuse of corporate assets. Management and responsible parties in Moroccan corporations can face prosecution if corporate assets are diverted or misapplied for personal benefit or non-corporate purposes. The legislative framework for these offenses is anchored in two primary legal references, which are crucial for business leaders and compliance professionals to understand.
| Provision | Law/Code Reference | Scope |
|---|---|---|
| Criminal Liability for Misuse | Article 384, Loi n° 17-95 relative aux sociétés anonymes (amended and supplemented) | Specific to public limited companies (sociétés anonymes). Addresses situations where executives misuse company assets for personal gain, third parties, or for purposes contrary to the company’s interests. |
| General Criminal Provisions | Article 241, Moroccan Penal Code | Provides a broader criminal framework applicable to all legal entities regarding breach of trust, including but not limited to asset misappropriation. |
Criminal Liability and Enforcement Mechanisms
Morocco’s criminal liability scheme is explicit: officers, directors, and de facto managers may be held personally accountable for the improper use of company funds or assets. Article 384 of Loi n° 17-95 specifically targets offenses committed within public limited companies, reflecting legislators’ focus on higher standards for transparency in larger enterprises. Meanwhile, Article 241 of the Moroccan Penal Code provides a safety net, allowing for prosecution even when arrangements fall outside the definitions covered by company-specific statutes.
Summary Table of Legal References
| Legal Reference | Applicable Entities | Year Enforced |
|---|---|---|
| Article 384, Loi n° 17-95 (amended and supplemented) | Public limited companies (S.A.) | 2025 |
| Article 241, Moroccan Penal Code | All legal entities | 2025 |
Key Considerations for Businesses in 2025
With criminal penalties in place, Moroccan business owners and directors should remain cognizant of the practical requirements imposed by these statutes. The primary focus remains on ensuring that corporate resources are used strictly for legitimate business interests, with clear documentation and transparent governance. Violations can result not only in corporate scrutiny but also in personal criminal prosecution under the provisions outlined above.
Pro Tips for Compliance
- Thoroughly document all decisions involving the use of company assets, particularly for transactions that may benefit related parties.
- Regularly review and update internal policies in line with Article 384 of Loi n° 17-95 to reflect the latest legal expectations.
- Ensure clear separation between personal and corporate expenses within your accounting and reporting systems.
- Consider periodic third-party audits to verify the proper application of company assets.
- Always consult the text of relevant laws directly for the most accurate guidance. Official government resources can be found at justice.gov.ma.
Regulatory Landscape in Morocco: What to Remember
Misuse of corporate assets in Morocco is a clearly defined criminal offense, with statutory backing found both in corporate law and the Penal Code. As of 2025, severe consequences exist for those found to have engaged in asset misappropriation, emphasizing the critical importance of sound corporate governance. Businesses should keep these statutory requirements front of mind to stay compliant and mitigate legal risks. Reviewing company policies regularly, ensuring robust documentation, and seeking formal legal advice when in doubt are all prudent steps for maintaining compliance in Morocco’s legal environment.