Subsection 2: Transactions carried out on youth savings accounts and remuneration.

The Livret Jeune is subject to the provisions relating to passbook accounts laid down in application of article L. 611-1.

The maximum amount that can be deposited in the Livret Jeune is set by decree.

The amount specified in article R. 221-84 is set at €1,600.

The capitalisation may take the balance of the account above the ceiling provided for in article R. 221-84.

Only the holder of the youth passbook can make deposits.

Sums credited to a Livret Jeune are repayable on demand.

Only the holder of the youth passbook can make withdrawals.

Authorisation for the withdrawal referred to in the second paragraph of Article L. 221-24, as well as the objection of the legal representative referred to in the same paragraph, shall be notified to the institution or custodian by registered letter with acknowledgement of receipt.

No withdrawal may result in the account being in debit.

The rate of interest paid to the depositor is set in accordance with Article L. 611-1.