Section 3: Youth passbook

Individuals aged between twelve and twenty-five and ordinarily resident in France may only open a Livret Jeune and make deposits and withdrawals from it. If these individuals are under the age of sixteen, the authorisation of their legal representative is only required for withdrawals. If they are aged between sixteen and eighteen, they may carry out these transactions themselves unless their legal representative objects.

The same person can only hold one youth passbook.

A decree in the Conseil d’Etat shall determine the operating procedures for the Livret Jeune, and in particular the conditions for opening it, paying interest on it, closing it, in particular when the holder reaches the age of twenty-five, and monitoring it. This decree also determines the conditions under which breaches of the rules defined by this section may result, by decision of the Minister for the Economy and after…

Operations relating to the Livret Jeune are subject to documentary and on-site inspections by the Inspectorate General of Finance, and the collecting institutions and bodies are subject to the same inspections in respect of this activity.