Agreements entered into and authorised during previous financial years, the performance of which continued during the last financial year, are examined each year by the Supervisory Board and communicated to the statutory auditor, if any, for the purposes of drawing up the report provided for in the third paragraph of Article L. 225-88.
Agreements approved by the meeting, like those that it disapproves, produce their effects with regard to third parties, except when they are cancelled in the case of fraud. Even in the absence of fraud, the consequences, prejudicial to the company, of disapproved agreements may be charged to the person concerned and, possibly, to the other members of the Management Board.
Without prejudice to the liability of the party concerned, the agreements referred to in Article L. 225-86 and entered into without the prior authorisation of the Supervisory Board may be cancelled if they have had harmful consequences for the company. An action for nullity shall be barred after three years from the date of the agreement. However, if the agreement was concealed, the starting point of the limitation period is…
Under penalty of nullity of the contract, members of the Management Board and members of the Supervisory Board, other than legal entities, are prohibited from contracting, in any form whatsoever, loans with the company, from being granted an overdraft by it, on a current account or otherwise, and from having their commitments to third parties guaranteed or endorsed by it. The prohibition applies to the permanent representatives of legal entities…
Members of the Management Board and Supervisory Board, as well as any person invited to attend meetings of these bodies, are bound by discretion with regard to information of a confidential nature and given as such by the Chairman.
In the event of the opening of receivership or compulsory liquidation proceedings, pursuant to Titles III and IV of Book VI, the persons referred to in these provisions may be made liable for the company’s liabilities and are subject to the prohibitions and disqualifications, under the conditions set out in the said provisions.
The limitation on the number of seats on the Board of Directors or Supervisory Board that may be held simultaneously by the same natural person, pursuant to articles L. 225-21 and L. 225-77, is applicable to the accumulation of seats as director and member of the supervisory board. For the application of articles L. 225-54-1 and L. 225-67, the simultaneous exercise of general management by a natural person in a…
Without prejudice to the provisions of articles L. 225-21, L. 225-54-1, L. 225-67, L. 225-77 et L. 225-94, a natural person may not simultaneously hold more than five offices as chief executive officer, member of the management board, sole chief executive officer, director or member of the supervisory board of public limited companies having their registered office in France. For the purposes of these provisions, the fact that a director…
In the event of a merger of sociétés anonymes, the number of members of the board of directors or the supervisory board, as the case may be, may exceed the number of eighteen provided for in articles L. 225-17 and L. 225-69, for a period of three years from the date of the merger set at Article L. 236-4, but may not exceed twenty-four.
As an exception to the provisions of articles L. 225-21, L. 225-77 and L. 225-94-1, the mandates of permanent representative of a venture capital company mentioned in Article 1er de la loi n° 85-695 du 11 juillet 1985 portant diverses dispositions d’ordre économique et financier, a société financière d’innovation mentioned in III (B) de article 4 of law no. 72-650 of 11 July 1972 containing various economic and financial provisions,…
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75001, Paris France
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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