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Home | French Legislation Articles | French Monetary and Financial Code | Legislative part | Book VI: Banking and financial institutions | Title I: Institutions responsible for regulation and control | Chapter III: Provisions specific to credit institutions, finance companies, investment firms, electronic money institutions, payment institutions and central counterparties | Section 4: Measures to prevent and manage banking crises | Subsection 10: Provisions relating to the resolution procedure | Paragraph 2: Provisions relating to the implementation of a resolution measure | Sub-paragraph 6: Provisions relating to the implementation of an internal bail-out measure | Article L613-55-12 of the French Monetary and Financial Code

French Monetary and Financial Code
- Legislative part
  - Book VI: Banking and financial institutions
    - Title I: Institutions responsible for regulation and control
      - Chapter III: Provisions specific to credit institutions, finance companies, investment firms, electronic money institutions, payment institutions and central counterparties
        Section 4: Measures to prevent and manage banking crises
        Subsection 10: Provisions relating to the resolution procedure
        Paragraph 2: Provisions relating to the implementation of a resolution measure
        Sub-paragraph 6: Provisions relating to the implementation of an internal bail-out measure

Article L613-55-12 of the French Monetary and Financial Code

Article L613-55-12 of the French Monetary and Financial Code

November 7, 2023
5:34 am

The conversion of eligible liabilities or additional tier 1 or tier 2 capital instruments into equity securities as referred to in Chapter II of Title I of Book II or into other forms of property is effected ipso jure, without the benefit of any governing provision of the Articles of Association or any stipulation that would prevent such conversion or make it subject to a specific procedure.

Original in French 🇫🇷

Article L613-55-12

La conversion des engagements éligibles ou des instruments de fonds propres additionnels de catégorie 1 ou de catégorie 2 en titres de capital mentionnés au chapitre II du titre Ier du livre II ou en autres titres de propriété produit ses effets de plein droit sans que soit opposable une disposition régissant des statuts ou une stipulation qui y ferait obstacle ou la soumettrait à une procédure particulière.

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