PRINCE ALBERT has taken over the regency of Monaco from his father PRINCE RAINIER, after the 81-year-old was deemed too ill to exercise his royal functions.

Albert, 47, was yesterday (31MAR05) asked to become temporary ruler of the tiny European principality after a crown commission decided Rainier can no longer do so because of his ill health. Rainier has been in intensive care suffering breathing, kidney and heart problems since 7 March (05).

Albert, whose mother was the late Hollywood star GRACE KELLY, is set to become head of state when Rainier dies, although it's an unlikely possibility Rainier will return to power of his condition improves.

A statement from the Monaco royal family says: "The regency is assumed by His Serene Highness Prince Albert."

Rainier had ruled Monaco since 1949, and has publicly asked his son to provide an heir before taking over the regency, something Albert has yet to do.