Section III: Organisation, operation and control of the guarantee fund.

Membership of the fund by the companies referred to in article L. 421-2 only ceases in the event of withdrawal, termination or lapse of authorisation. Companies which are members of the guarantee fund are prohibited from using this membership or the fact that insurance policies are covered by the guarantee fund for advertising purposes, without prejudice to legislative or regulatory provisions relating to contractual information due to policyholders.

The guarantee fund is administered by a twelve-member Board of Directors. It comprises : 1° Seven representatives of insurance companies providing property and casualty insurance in the French Republic and covering risks which are subject to compulsory insurance by virtue of a legislative or regulatory provision; 2° Two members appointed by order of the Minister for the Economy, on the proposal of the Fédération française des clubs automobiles and the…

The guarantee fund is subject to control by the Minister for the Economy and Finance. A Government Commissioner appointed by the Minister for the Economy and Finance supervises the overall management of the fund on behalf of the Minister. He may attend all meetings of the Board of Directors or any committees set up by the Board. It may ask to see all accounting books and documents. Decisions taken by…