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Article L465-4 of the French Monetary and Financial Code

The penalties applicable to breaches of the obligation to disclose significant shareholdings are set out in 1° and 2° of I and III of article L. 247-1 and in article L. 247-2 of the French Commercial Code, reproduced below: ” I. – The chairmen, directors, managing directors or managers of any company are liable to two years’ imprisonment and a fine of 9,000 euros if they: 1° fail to mention,…

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