Article L1531-1 of the French General Code of Local Authorities
Local authorities and their groupings may create, within the framework of the powers assigned to them by law, local public companies in which they hold all the capital. These companies are competent to carry out development operations within the meaning of the article L. 300-1 of the town planning code, construction operations or to operate industrial or commercial public services or any other activities of general interest. Where the object…