Articles L. 224-1, L. 224-2, the second paragraph of article L. 225-2, articles L. 225-3 to L. 225-16, L. 225-25, L. 225-26, L. 225-258 to L. 225-270, the fourth paragraph of article L. 227-1, articles L. 227-13 to L. 227-16, L. 227-18, L. 231-1 to L. 231-8, L. 233-8 and L. 441-14 of the French Commercial Code do not apply to sociétés de placement à prépondérance immobilière à capital variable….
The Board of Directors or the Management Board may temporarily suspend the repurchase by the company of its shares, when exceptional circumstances so require and if the interests of all shareholders so dictate, in accordance with the conditions set out in the general regulations of the Autorité des marchés financiers. The general regulations of the Autorité des marchés financiers shall determine the cases in which, and the conditions under which,…
At least thirty days before the General Meeting called to approve them, a société de placement à prépondérance immobilière à capital variable shall publish its profit and loss account and balance sheet. It need not publish them again after the General Meeting unless the latter has amended them.
I. – The sums distributable by a société de placement à prépondérance immobilière à capital variable in respect of a financial year are made up of : 1° Distributable income relating to income earned by the company, which is equal to the net income referred to in article L. 214-51, plus retained earnings, plus or minus the balance of accruals and deferrals defined by decree; 2° Capital gains realised on…
Notwithstanding the provisions of the French Commercial Code, the terms of liquidation and the distribution of assets are determined by the company’s Articles of Association. The management company acts as liquidator, under the supervision of the custodian. Failing this, the liquidator shall be appointed by the courts, at the request of any shareholder, from among the approved portfolio management companies.
Subject to the provisions of articles L. 214-45 and L. 214-77, a real estate investment trust (fonds de placement immobilier), which does not have legal personality, is a co-ownership vehicle made up of real estate assets, financial instruments and other assets as defined in article L. 214-36, the units of which are issued and redeemed at the request of unitholders at the net asset value plus or minus fees and…
In all cases where provisions relating to property ownership or to companies and financial instruments require the name, first name and domicile of the holder of the assets or securities to be indicated, and for all transactions carried out on behalf of the co-owners, the name of the real estate investment trust or, where applicable, of a sub-fund of the trust may be validly substituted for that of all the…
In accordance with the conditions set out in the General Regulations of the Autorité des marchés financiers, a property investment fund is set up by a portfolio management company responsible for its management. The management company draws up the fund rules. These regulations provide for the establishment of a supervisory board made up solely of representatives of unit-holders. The Supervisory Board has a minimum of two members and a maximum…
The real estate investment trust is represented vis-à-vis third parties by the company responsible for its management. This company may take legal action to defend or assert the rights or interests of unitholders. The central administration of the real estate investment trust is located in France.
The management company is liable to third parties or unitholders either for breaches of the legislative or regulatory provisions applicable to real estate investment funds, or for breaches of the fund rules, or for its own misconduct.
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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