Article L1525-1 of the French General Code of Local Authorities
The provisions of article L. 1522-1 concerning the majority shareholding of local authorities and their groupings are not applicable: 1° To semi-public companies set up under the Decree-Laws of 5 November and 28 December 1926 and created prior to 8 July 1983, the date of publication of the loi n° 83-597 du 7 juillet 1983 relative aux sociétés d’économie mixte locales, provided they do not change their corporate purpose; 2°…