Chapter I: General principles.

Subject to the provisions of this code and the adaptations made necessary by the accounting requirements of the Autorité des normes comptables (French accounting standards authority) which apply to them, the companies referred to in article L. 341-1 are subject to the provisions of articles R. 123-172 to R. 123-180, R. 123-184 to R. 123-189, R. 123-191, R. 123-198 and R. 123-199 of the French Commercial Code.

An order of the Minister for the Economy may, if necessary, prescribe specific procedures for the non-accounting monitoring of investments, contracts, claims and reinsurance, co-insurance and co-reinsurance transactions.

Unless an exception is authorised by the Autorité de contrôle prudentiel pursuant to article L. 341-4, the financial year begins on 1 January and ends on 31 December of each year. By way of exception, the first financial year of French companies commencing operations during a calendar year may be closed at the end of the following year.

Transactions in foreign currencies and the related accounting documents are defined and kept in each of the currencies used, in accordance with the accounting requirements of the Autorité des normes comptables. However, companies whose foreign currency transactions are not material may keep their accounting records solely in euros. The annual accounts are drawn up in euros. For the purposes of preparing the annual accounts, transactions in foreign currencies are converted…

Unless it publishes them pursuant to article L. 341-3, the undertaking shall make the annual accounts, the management report, the auditors’ report on the annual accounts and, where applicable, the consolidated or combined accounts, the group management report and the auditors’ report on the consolidated or combined accounts available to any person who so requests, in return for payment of a sum which may not exceed the amount set by…

All undertakings referred to in Article L. 310-1 or in 1° of III of Article L. 310-1-1 are required to implement procedures for the preparation and verification of the financial and accounting information necessary for the preparation of the annual financial statements. These procedures are described in a report submitted annually to the Board of Directors or the Supervisory Board for approval and sent to the Autorité de contrôle prudentiel…