Article D214-236 of the French Monetary and Financial Code
November 6, 2023
The insurance risks referred to in article L. 214-187 are those covered by classes 1 to 26 mentioned in article R. 321-1 of the French Insurance Code.
The insurance risks referred to in article L. 214-187 are those covered by classes 1 to 26 mentioned in article R. 321-1 of the French Insurance Code.
A securitisation undertaking covered by this subparagraph may enter into contracts transferring insurance risks under the conditions laid down in its articles of association or its regulations, subject to the following conditions: 1° These contracts are entered into with : a) An insurance or reinsurance undertaking governed by the Insurance Code, a mutual insurer or union governed by Book II of the Mutual Code, a provident institution or union governed…
A securitisation undertaking covered by this sub-paragraph may only sell or transfer, in one or more transactions, contracts transferring insurance risks and receivables held against insurance and reinsurance undertakings in the following cases: 1° When the securitisation undertaking is being wound up in the interests of the holders of units and debt securities previously issued; 2° When the securitisation undertaking’s commitment in respect of contracts transferring insurance risks is less…
In order to grant the authorisation referred to in Article L. 214-189, the Autorité de contrôle prudentiel et de résolution shall verify that the rules or articles of association of the undertaking, in particular with regard to the composition of assets and the risk coverage strategy, are compatible with the rule of financing its commitments in full, as defined in 5° of Article D. 214-237. The Authority also verifies that…
The Autorité de contrôle prudentiel et de résolution shall issue the authorisation referred to in Article L. 214-189 within thirty days of notification of receipt of the application. If no decision has been notified by the AMF by the end of this period, this shall be deemed to be an authorisation decision. If the Authority requests additional information, it will notify the applicant in writing, specifying that the requested information…
The specialised financing body may grant the loans mentioned in the second paragraph of V of Article L. 214-190-1 under the conditions defined by Articles R. 214-203-1 to R. 214-203-9. For the purposes of these articles, the specialised financing body is treated in the same way as a specialised professional fund. The loan mentioned in article R. 214-203-6 does not concern the issue of debt securities.
(1) A specialised financing vehicle may issue negotiable debt securities and bonds or debt securities issued under foreign law. (2) The vehicle’s regulations or articles of association shall specify the characteristics and terms of issue of debt securities. (3) The liabilities of a specialised financing vehicle shall at all times include a minimum number of two units. 4 -The minimum amount of a unit on issue is 150 euros or…
The credit risk associated with the holding of units, shares or debt securities issued by a specialised financing vehicle is not subject to any subordination provided that the payment of interest and the repayment of principal to holders of debt securities depend on the performance of the assets held by the specialised financing vehicle and : a) either the amount of the units issued by the specialised financing vehicle does…
Under the conditions laid down in the fund’s regulations or articles of association, the units or shares issued by the specialised finance vehicle may give rise to requests for redemption by their holders or shareholders and the debt securities issued may give rise to requests for early redemption, on the basis of the net asset value of the vehicle calculated in accordance with Article L. 214-24-14. Where the undertaking may…
The extract from the articles of association of the specialised finance company referred to in Article L. 214-190-2 shall be filed with the Trade and Companies Register. It shall be signed by the members or shareholders and must contain: 1° The corporate name of the specialised finance company, its purpose and the address of its registered office; 2° The names of the corporate officers with general authority to bind the…
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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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