French Business Law - French Legislation

Article L214-28 of the French Monetary and Financial Code

November 8, 2023

I. – At least 50% of the assets of a fonds commun de placement à risques must be made up of non-trading securities, equity securities or securities giving access to the capital of companies, which are not admitted to trading on a French or foreign financial instruments market operated by a market undertaking or an investment services provider other than a portfolio management company or any other similar foreign body,…

Article L214-29 of the French Monetary and Financial Code

November 8, 2023

Where a fonds commun de placement à risques is a master FIA, the feeder undertakings for collective investment are subject to the holding, marketing, advertising and canvassing rules applicable to the master fund.

Article L214-30 of the French Monetary and Financial Code

November 8, 2023

I. – Innovation mutual funds are venture capital mutual funds at least 70% of whose assets consist of financial securities, limited liability company shares and current account advances, as defined in I and 1° of II of article L. 214-28, which grant subscribers of equity securities only the rights resulting from their status as shareholders or partners, to the exclusion of any other consideration, in particular in the form of…

Article L214-30-1 of the French Monetary and Financial Code

November 8, 2023

Each year, before 30 April of the following year, innovation mutual funds send the Autorité des marchés financiers a summary statement of the companies financed, the securities held and the amounts invested during the year, in accordance with the conditions defined by joint order of the ministers responsible for the economy and the budget. The information contained in this statement is that at 31 December of the year. The Autorité…

Article L214-31 of the French Monetary and Financial Code

November 8, 2023

I. – Local investment funds (fonds d’investissement de proximité) are venture capital investment funds (fonds communs de placement à risques), at least 70% of whose assets consist of financial securities, shares in limited liability companies and current account advances, as defined by I and 1° of II of article L. 214-28, which give subscribers only the rights resulting from their status as shareholders or partners, to the exclusion of any…

Article L214-32 of the French Monetary and Financial Code

November 8, 2023

Local investment funds may not benefit from the provisions of article L. 214-24-26.

Article L214-32-1 of the French Monetary and Financial Code

November 8, 2023

Each year, before 30 April of the following year, local investment funds send the Autorité des marchés financiers a summary statement of the companies financed, the securities held and the amounts invested during the year, in accordance with the conditions defined by joint order of the ministers responsible for the economy and the budget. The information contained in this statement is that at 31 December of the year. The Autorité…

Article L214-33 of the French Monetary and Financial Code

November 8, 2023

Undertakings for collective real estate investment take the form of either variable-capital real estate investment companies (sociétés de placement à prépondérance immobilière à capital variable) or real estate investment funds (fonds de placement immobilier).

Article L214-34 of the French Monetary and Financial Code

November 8, 2023

The purpose of undertakings for collective real estate investment is to invest in buildings intended for rental or which they have built exclusively with a view to rental, which they hold directly or indirectly, including those in a future state of completion, to carry out all transactions necessary for their use or resale, to carry out work of any kind on these buildings, in particular transactions relating to their construction,…

Article L214-35 of the French Monetary and Financial Code

November 8, 2023

I. – The formation, transformation, merger, demerger or liquidation of an undertaking for collective investment in real estate is subject to approval by the Autorité des marchés financiers. The authorisation file, the content of which is set by the general regulations of the Autorité des marchés financiers, describes in particular the investment policy that the undertaking for collective investment in real estate intends to pursue and its financing options, in…

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Section 2: FIA

Article L214-28 of the French Monetary and Financial Code

Article L214-29 of the French Monetary and Financial Code

Article L214-30 of the French Monetary and Financial Code

Article L214-30-1 of the French Monetary and Financial Code

Article L214-31 of the French Monetary and Financial Code

Article L214-32 of the French Monetary and Financial Code

Article L214-32-1 of the French Monetary and Financial Code

Article L214-33 of the French Monetary and Financial Code

Article L214-34 of the French Monetary and Financial Code

Article L214-35 of the French Monetary and Financial Code

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Section 2: FIA

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