Article L1864-1 of the French General Code of Local Authorities
Municipalities and their groupings may create, within the framework of the powers attributed to them by law, local public companies in which they hold all the capital. These companies are competent, subject to compliance with II of Article 43 of Organic Law No. 2004-192 of 27 February 2004 on the autonomous status of French Polynesia, to carry out development operations within the meaning of locally applicable town planning regulations, or…