The rights or obligations of the collateral provider, the beneficiary or any third party in respect of the collateral referred to in I of article L. 211-38 relating to financial securities are determined by the law of the State in which the account in which the securities are delivered or provided as collateral is located.
The provisions of Book VI of the Commercial Code, or those governing any equivalent judicial or amicable proceedings initiated on the basis of foreign law, shall not prevent the application of the provisions of this section. Article 1343-2 of the Civil Code shall not prevent the capitalisation of interest due pursuant to an agreement or framework agreement referred to in Article L. 211-36-1 of this Code.
Article 1195 of the Civil Code does not apply to obligations arising from transactions in the securities and financial contracts referred to in I to III of Article L. 211-1 of this Code.
All equivalent instruments or rights representing a financial investment in an entity issued on the basis of foreign law are treated in the same way as the financial securities referred to in article L. 211-1.
Equity securities issued by joint stock companies include shares and other securities giving or capable of giving access to capital or voting rights.
The different types of shares are defined inArticle L. 228-7 of the French Commercial Code, which is reproduced below: ArticleL. 228-7: “Shares for cash are those whose value is paid up in cash or by set-off, those issued following the capitalisation of reserves, profits or share premiums, and those whose value results partly from the capitalisation of reserves, profits or share premiums and partly from payment in cash. The latter…
Cash shares are governed by the provisions of Article L. 228-9 of the French Commercial Code, reproduced below: “Art. L. 228-9. – Cash shares are registered shares until they are fully paid up. ” “Failure to comply with the first paragraph may result in the cancellation of the share. “
I. – Subject to the provisions of article L. 211-7, shares issued in French territory and subject to French law, of sociétés par actions, other than SICAVs, sociétés de placement à prépondérance immobilière à capital variable or sociétés professionnelles de placement à prépondérance immobilière à capital variable, which are not admitted to trading on a regulated market or a multilateral trading facility, shall be in registered form. II. – This…
The requirement for certain shares to be in registered form is deemed to have been met if the conditions set out in Article L. 228-2 of the French Commercial Code are met.
The rules governing the creation of preference shares are set out in Articles L. 228-11 to L. 228-20 of the French Commercial Code.
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
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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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