TITLE II: Provisions specific to various commercial companies.

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,…