French Business Law - French Legislation

Article L214-189 of the French Monetary and Financial Code

November 8, 2023

The creation of a securitisation undertaking or a compartment of a securitisation undertaking covered by this paragraph or the conversion of an existing undertaking or compartment into a securitisation undertaking covered by this paragraph is subject to authorisation by the Autorité de contrôle prudentiel et de résolution. In order to grant authorisation, the Autorité de contrôle prudentiel et de résolution verifies that : 1° The articles of association or by-laws…

Article L214-190 of the French Monetary and Financial Code

November 8, 2023

In order to carry out its duties and within the limits of those duties, in particular those entrusted to it by Article L. 214-189, the Autorité de contrôle prudentiel et de résolution may conduct documentary and on-site investigations of the management company of a securitisation undertaking covered by this sub-section. It may request the management company of the securitisation undertaking to provide all the information and documents referred to in…

Article L214-190-1 of the French Monetary and Financial Code

November 8, 2023

I. – The assets referred to in II of article L. 214-168 are financial instruments, receivables or any other asset within the meaning of article L. 214-154, or risk or cash sub-participations. Direct or indirect investment in one or more of the assets referred to in II of Article L. 214-168 may result from the issue of units, shares or debt securities, from the conclusion of contracts constituting forward financial…

Article L214-190-2 of the French Monetary and Financial Code

November 8, 2023

A société de financement spécialisé is a specialised finance company incorporated as a société anonyme or a société par actions simplifiée. The company shall indicate its status as a specialised finance company on all deeds and documents intended for third parties. Articles L. 214-177 to L. 214-179 apply to specialised finance companies. For the preparation of their annual accounts, specialised finance companies are not subject to articles L. 123-12 to…

Article L214-190-2-1 of the French Monetary and Financial Code

November 8, 2023

The repurchase by the specialised finance company of its own shares or debt securities or the issue of new shares or debt securities may be temporarily suspended by the Board of Directors, the Management Board or the company’s senior managers, when exceptional circumstances so require and if the interests of investors or the public so dictate, in accordance with the conditions laid down in the company’s articles of association. In…

Article L214-190-3 of the French Monetary and Financial Code

November 8, 2023

The specialised financing fund is a specialised financing body set up in the form of a co-ownership. The fund does not have legal personality. The provisions of the Civil Code relating to joint ownership and those of articles 1871 to 1873 of the Civil Code relating to joint ventures do not apply to specialised finance funds. The minimum amount of a unit issued by a specialised finance fund is defined…

Article L214-190-3-1 of the French Monetary and Financial Code

November 8, 2023

The redemption by the fund of its units and the issue of new units or debt securities may be temporarily suspended by the management company when exceptional circumstances so require and if the interests of investors or the public so dictate, under conditions laid down in the fund rules. In the same circumstances, when the disposal of certain assets would not be in the interests of investors, the other assets…

Article L214-191 of the French Monetary and Financial Code

November 8, 2023

I. – Collective investments not covered by sections 1 and 2 of this chapter are referred to as: “Other collective investments”. These include 1° a SICAV established in the form of a simplified joint stock company set up by a single person and whose articles of association expressly prohibit multiple members ; 2° A société de placement à prépondérance immobilière à capital variable (real estate investment company with variable capital)…

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Chapter IV: Collective investments

Article L214-189 of the French Monetary and Financial Code

Article L214-190 of the French Monetary and Financial Code

Article L214-190-1 of the French Monetary and Financial Code

Article L214-190-2 of the French Monetary and Financial Code

Article L214-190-2-1 of the French Monetary and Financial Code

Article L214-190-3 of the French Monetary and Financial Code

Article L214-190-3-1 of the French Monetary and Financial Code

Article L214-191 of the French Monetary and Financial Code

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Chapter IV: Collective investments

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Contact a French Business Lawyer

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Our attorneys will contact you promptly within 24h. All information exchanged through this website will be communicated to attorneys only, and will remain confidential.

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