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

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…

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

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…

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

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…

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

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…

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

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…

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