Section 2: Information for employees enabling them to make a bid in the event of the sale of shares or securities giving access to the majority of the capital, in companies subject to the obligation to set up a works council

In companies subject to the obligation to set up a works council pursuant to article L. 2322-1 of the Labour Code and which, at the end of the last financial year, fell into the category of small and medium-sized enterprises within the meaning of article 51 of law no. 2008-776 of 4 August 2008 on the modernisation of the economy, when it wishes to sell a holding representing more than…

At their request, employees may be assisted by a representative of the regional chamber of commerce and industry, the regional chamber of agriculture, the regional chamber of trades and crafts territorially competent in connection with the regional chambers of the social and solidarity economy and by any person designated by the employees, under conditions defined by decree.

Information may be provided to employees by any means, specified by regulation, likely to make the date of its receipt by the employees certain. When information is provided by registered letter with acknowledgement of receipt, the date of receipt of the information is the date of first presentation of the letter. Employees are bound by an obligation of discretion with regard to information received pursuant to this section, under the…

The Articles L. 23-10-7 to L. 23-10-9 are applicable to the sale of a shareholding in a company subject to special regulations requiring that all or part of its capital be held by one or more members or shareholders meeting certain conditions in terms of, in particular, professional qualifications, provided that:

The transfer is again subject to articles L. 23-10-7 to L. 23-10-9when it occurs more than two years after the expiry of the period provided for in article L. 23-10-7. If during this two-year period the works council is consulted, pursuant to article L. 2323-33 of the French Labour Code, on a proposed transfer of the items covered by the notification provided for in Article L. 23-10-7, the two-year period…

This section shall not apply: 1° In the event of the sale of the shareholding to a spouse, ascendant or descendant; 2° To companies that are the subject of conciliation, safeguard, receivership or liquidation proceedings governed by Book VI; 3° If, during the twelve months preceding the sale, the sale has already been the subject of information pursuant to article 18 de la loi n° 2014-856 du 31 juillet 2014…