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Article L1524-7 of the French General Code of Local Authorities

The provisions of articles L. 2253-1 and L. 3231-6 do not apply to the acquisition of shares whose purpose is to give local authorities or their groupings a majority stake in the capital of local semi-public companies.

Original in French 🇫🇷
Article L1524-7

Les dispositions des articles L. 2253-1 et L. 3231-6 ne sont pas applicables aux acquisitions d’actions dont l’objet est de rendre les collectivités territoriales ou leurs groupements majoritaires dans le capital des sociétés d’économie mixte locales.

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