The following are exempt from the obligations set out inArticle L. 823-19 of the French Commercial Code:
a) Persons and entities affiliated, within the meaning of Article L. 512-92, to a caisse d’épargne et de prévoyance ;
b) Persons and entities authorised collectively with a regional or federal caisse or a regional federation within the meaning of Article R. 511-3 ;
c) Persons and entities authorised collectively with a mutual and cooperative bank within the meaning of Article R. 515-1, provided that they have not issued securities admitted to trading on a regulated market.