Article L518-18 of the French Monetary and Financial Code
November 7, 2023
The procedures for depositing, holding and withdrawing securities are set by decree in the Conseil d’Etat.
The procedures for depositing, holding and withdrawing securities are set by decree in the Conseil d’Etat.
Courts and administrative bodies may not authorise or order deposits to be made with natural persons or bodies other than the Caisse des Dépôts et Consignations and may not authorise debtors, custodians or garnishees to hold such deposits in escrow or otherwise. Consignments made in breach of these provisions are null and void.
The Director General of the Caisse des Dépôts et Consignations may issue, or have issued by the officers of the Caisse des Dépôts et Consignations, fines against any person who, having an obligation to pay sums into the Caisse des Dépôts et Consignations or its officers, is in default of fulfilling his obligations. For the enforcement of the said constraints, the same procedure is followed as for those issued in…
All costs and risks relating to the custody, safekeeping and movement of the deposited funds and financial securities are borne by the Caisse des Dépôts et Consignations. No custodian fees are payable in respect of consigned financial securities.
Amounts received by way of arrears, interest, dividends, redemption or negotiation proceeds and any other proceeds whatsoever from consigned financial securities do not entitle the Caisse des Dépôts et Consignations to any settlement or payment of interest, regardless of the date on which they were received.
The rate and method of calculation of interest on deposit accounts opened with the Caisse des dépôts et consignations and on sums deposited with the said Caisse are set by decision of the General Manager, taken on the advice of the Supervisory Board and approved by the Minister for the Economy.
Subject to III of articles L. 312-20 of this Code, L. 132-27-2 of the Insurance Code and L. 223-25-4 of the Mutual Code, sums deposited in any capacity whatsoever with the Caisse des Dépôts et Consignations are acquired by the State when thirty years have elapsed without the account to which these sums have been credited having given rise to a payment or reimbursement transaction, or without the Caisse des…
Caisse des Dépôts et Consignations, within the framework of the missions mentioned in Article L. 518-2, may, after authorisation from the ministers responsible for the economy and the budget and by written agreement, be mandated by the State, its public establishments, public interest groupings and independent public authorities, to collect income or pay expenditure and to act in legal proceedings in the name and on behalf of the principal. The…
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call us at +33 (0) 1 84 88 31 00 or send us an email.
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
Resources
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
Useful links
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call +33 (0) 1 84 88 31 00 or send us an email.
All information exchanged through this website will be communicated to lawyers registered with a French Bar and will remain confidential.
