Book IV: Markets

When several associations, at least one of which is approved, become one, approval must be sought again. In this case, the seniority criterion mentioned in article L. 452-1 is assessed from the date of creation of the oldest of the associations that already had approval. When approval is requested by a federation of associations, the criterion of the number of contributing members is assessed on the basis of the number…

Applications for approval and renewal are sent to the departmental directorate for competition, consumer affairs and fraud control in whose area of jurisdiction the association has its registered office. The composition of the application and the procedures for its examination are set by joint order of the Minister for the Economy, the Minister for Consumer Affairs and the Minister of Justice. When the application submitted to the authorities is complete,…

The approval or refusal decision is notified within six months of the issue of the receipt. Reasons must be given for refusal decisions.

Associations shall report annually on their activities in accordance with the procedures laid down by order in the forms provided for in article D. 452-5. Associations shall draw up annual accounts. These annual accounts include a balance sheet, a profit and loss account and notes to the accounts in accordance with the accounting principles and methods defined in the French Commercial Code and in the texts adopted for its application,…

Approval may be withdrawn, after consultation with the public prosecutor and the Autorité des marchés financiers, if the association no longer meets one of the conditions for approval. The association must first be given formal notice to submit its observations. The decision to withdraw authorisation is published in the Journal officiel de la République française.