Book V: Service providers

Without prejudice to the provisions of Article L. 229-4 of the French Commercial Code, the Autorité de contrôle prudentiel et de résolution also has the power to oppose, in accordance with the provisions of Article 8(14) and Article 19 of Council Regulation (EC) No 2157/2001 of 8 October 2001 on the Statute for a European Company (SE), the transfer of the registered office of a credit institution constituted in the…

Without prejudice to the provisions of Article 26-6 of Law No 47-1775 of 10 September 1947 on the Statute for a Cooperative Society, the Autorité de Contrôle Prudentiel et de Résolution is competent to oppose, in accordance with paragraph 14 of Article 7 and Article 21 of Council Regulation (EC) No 1435/2003 of 22 July 2003 on the Statute for a European Cooperative Society (SCE), the transfer of the registered…

The Authority shall rule on an application for the authorisation referred to in Article L. 511-10 within a time limit set by decree in the Conseil d’Etat. The applicant shall be notified of any refusal of authorisation.

I. – The European Central Bank shall withdraw the authorisation of a credit institution at the request of the institution. Pursuant to Articles 4 and 14 of Council Regulation (EU) No 1024/2013 of 15 October 2013, such withdrawal may also be decided by the European Central Bank in the following cases: 1° The institution has obtained authorisation by making false statements or by any other irregular means ; 2° The…

A finance company’s authorisation may be withdrawn by the Autorité de contrôle prudentiel et de résolution at the company’s request. It may also be decided ex officio by the Autorité in the following cases: 1° The company has obtained authorisation by making false declarations or by any other irregular means ; 2° The company no longer meets the prudential requirements set out in Part Three, Part Four or Part Six…

In the cases provided for in Articles L. 511-15 and L. 511-15-1, the funds repayable from the public referred to in Article L. 312-2 and the other repayable funds are repaid by the credit institution or finance company on their due date or, if this due date is after expiry of the period referred to in III of Article L. 511-15 or in the third paragraph of Article L. 511-15-1,…

I. – In the cases provided for in Articles L. 612-39 and L. 612-40 where, on a proposal from the Autorité de contrôle prudentiel et de résolution, the European Central Bank has ordered the total withdrawal of authorisation from a credit institution, this decision shall result in the liquidation of the legal entity, if it has its registered office in France. In cases where, pursuant to Articles L. 612-39 and…

The Minister responsible for the economy shall specify the conditions for the application of articles L. 511-15 to L. 511-17. In particular, he shall set the terms and conditions under which : 1. Decisions to withdraw authorisation and to deregister are made public; 2. In addition to the option of using the other legal methods of assignment and of making the assignment effective against third parties, the assignment of claims…

When credit institutions having their head office abroad open offices for information, liaison or representation, the opening of these offices must be notified in advance to the Autorité de contrôle prudentiel et de résolution. These offices may use the name or business name of the credit institution they represent.

I. – A parent undertaking is an undertaking which has exclusive control, within the meaning of article L. 233-16 of the Commercial Code, over one or more other undertakings or which exercises a dominant influence over them by virtue of the existence of substantial and lasting links of solidarity resulting from financial commitments, shared management or shared services. A subsidiary of a credit institution, a finance company, an investment firm,…