Title II: Savings products

Individuals of legal age whose tax residence is in France may open a share savings plan with a credit institution, the Caisse des dépôts et consignations, the Banque de France, La Banque Postale, an investment firm or an insurance company governed by the Insurance Code. The same person may hold only one share savings plan. A plan may have only one holder. The plan gives rise to the opening of…

I. – 1° The sums paid into the share savings plan are used for one or more of the following purposes : a) Shares, with the exception of those mentioned in article L. 228-11 of the French Commercial Code, or company investment certificates, cooperative investment certificates, mutualist certificates mentioned in articles L. 322-26-8 of the French Insurance Code and L. 221-19 of the French Mutual Code and parity certificates mentioned…

I. – After the fifth year, partial withdrawals of sums or securities and, in the case of capitalisation contracts, partial redemptions do not result in the closure of the equity savings plan. II. – Before the end of the fifth year, any withdrawal of sums or securities from the plan or any redemption will result in the closure of the plan. By way of derogation from this provision, withdrawals or…