CHAPTER IV : Powers

The territorial authority’s aid regime in favour of economic development, provided for in Title I of Book V of Part One, is determined by the territorial authority by deliberation of the Assembly of Corsica. The President of the Executive Council implements these deliberations under the conditions set out in article L. 4422-26.

The Corsican regional authority may participate, through the payment of endowments, in the constitution of an investment fund with a private equity company whose purpose is to provide equity capital to companies. The total amount of endowments paid by the regional authority may not exceed 50% of the total amount of the fund. The Corsican regional authority will enter into an agreement with the company managing the fund, setting out,…

The Corsican regional authority may participate, through the payment of grants, in the constitution of a guarantee fund with a credit institution or finance company whose exclusive purpose is to guarantee financial assistance granted to companies. The Corsican regional authority will enter into an agreement with the company managing the fund, setting out, in particular, the purpose, amount and operation of the guarantee fund, the procedures for informing the regional…

The territorial collectivity of Corsica may, where the purpose of its intervention is to promote local economic development, grant aid for the creation or development of businesses, in addition to that mentioned in Title I of Book V of Part One. The nature, form and procedures for granting aid are set by deliberation of the Assembly of Corsica. Each year, the President of the Executive Council of Corsica reports to…

The coordination committee for the industrial development of Corsica is made up of one-third representatives of the State, one-third representatives of the Assembly of Corsica in proportion to the groups and one-third representatives of national companies. It meets at the request of the Prime Minister or the Corsican Assembly. It leads and coordinates the actions of national companies in Corsica in order to carry out industrial projects of regional interest.