Paragraph 1: Procedure for appointing liquidators

When the Autorité de contrôle prudentiel et de résolution considers that a liquidator should be appointed pursuant to Article L. 613-24, it shall inform the credit institution, finance company, electronic money institution, payment institution or undertaking concerned, by registered letter with acknowledgement of receipt sent to its legal representative or by any other means that ensures receipt by the said representative, of the reasons why it intends to make such…

The representative of the credit institution, finance company, electronic money institution, payment institution or investment firm must send its observations to the Chairman of the Autorité de contrôle prudentiel et de résolution within a period set by the letter referred to in Article R. 613-10. This deadline may not be less than three days. The representative of the institution or undertaking is summoned to appear before the Autorité de contrôle…

Where it has imposed the measures provided for in Article L. 613-24 without an adversarial procedure, the Autorité de contrôle prudentiel et de résolution shall immediately notify the credit institution, finance company, electronic money institution, payment institution or undertaking concerned and shall then have a period of three months in which to make known its decision to lift or confirm these measures in accordance with the procedure provided for in…

Decisions to appoint a liquidator shall specify the foreseeable duration of the tasks entrusted and the terms of the monthly remuneration, which shall take account in particular of the nature and volume of the business and the situation of the credit institution or undertaking concerned. Liquidators are appointed for a maximum period of three years, renewable if circumstances so warrant, by a decision of the Autorité de contrôle prudentiel et…