Section IV: Approval conditions.

Administrative authorisation is given by branch to the undertakings mentioned in 1°, 3° and 4° of article L. 310-2. This authorisation covers the entire branch, unless the undertaking only wishes to underwrite operations falling within one or more sub-branches. For the undertakings mentioned in 4° of Article L. 310-2, the Autorité de contrôle prudentiel et de résolution may, under the conditions set out in Article R. 321-4, restrict authorisation to…

The general representative of branches of companies referred to in 3° of Article L. 310-2 duly established in France must be vested with sufficient powers by the company concerned to bind the latter vis-à-vis third parties and to represent it before the French authorities and courts.

For the three financial years following the issue of the authorisations referred to in Articles L. 321-1, L. 321-7 and L. 329-1, the undertaking must submit to the Autorité de contrôle prudentiel et de résolution, for each half-year, a report on the implementation of the programme of operations referred to in Article L. 321-10. If the undertaking’s activities do not comply with the programme of operations, the Autorité takes appropriate…

All documents accompanying applications for approval must be written in or translated into French.

Administrative approval is granted by a decision published in the Official Journal.

An undertaking whose authorisations have all been declared null and void pursuant to Article L. 321-10-2 shall submit to the Autorité de contrôle prudentiel et de résolution for approval, within one month of the date of publication in the Journal officiel de la République française of its last authorisation, a winding-up programme specifying in particular the foreseeable timescales and financial terms of the winding-up, as well as the staffing and…