Chapter IV: Offences concerning simplified joint stock companies

The articles L. 242-1 to L. 242-6, L. 242-8, L. 242-17 to L. 242-24 apply to sociétés par actions simplifiées. The penalties provided for the chairman, directors or managing directors of sociétés anonymes are applicable to the chairman and managing directors of sociétés par actions simplifiées. The articles L. 242-20, L. 820-6 and L. 820-7 apply to the statutory auditors of simplified joint-stock companies.

Failure by the chairman or manager of a société par actions simplifiée (simplified joint-stock company) to consult the shareholders under the conditions laid down in the articles of association in the event of a capital increase, amortisation or reduction, merger, demerger, dissolution or conversion into a company of a different form is punishable by six months’ imprisonment and a fine of €7,500.

The provisions of articles L. 244-1, L. 244-2 and L. 244-3 are applicable to any person who, directly or through an intermediary, has in fact managed a société par actions simplifiée (simplified joint-stock company) under the cover of or in place of the chairman and managers of that company.