Paragraph 2: Provisions relating to the implementation of a resolution measure

I. – When implementing a resolution measure, the College of Resolution shall take into account the objectives of the resolution. These objectives are as follows: 1° To ensure the continuity of critical functions ; 2° Avoid significant negative effects on financial stability; and 3° Protect the resources of the State by reducing as far as possible recourse to exceptional public financial aid; 4° Protect customer funds and assets, in particular…

Without prejudice to the provisions of this section and to the European Union’s legal regime on State aid, the collège de résolution may not rely on any provision or stipulation the application of which would have the effect of hindering a resolution measure or the exercise, pursuant to V of Article L. 613-49-1, of the powers of a central body referred to in Article L. 511-31. In particular, the collège…

When the implementation of a resolution measure in application of the provisions of sub-paragraphs 3, 4, 5 or 6 of this paragraph implies the granting of an authorisation in application of I of Article L. 511-12-1 or Article L. 531-6, the supervisory board shall give its decision as quickly as possible so as not to compromise the implementation of this resolution measure.

I. – Articles L. 211-36-1 to L. 211-38 do not prevent the application of measures imposed in application of the provisions of this sub-section and of sub-section 9 of this section. II. – Articles L. 211-36-1 to L. 211-38 shall not prevent the application of measures imposed on an entity mentioned in IV of c or d of paragraph 2 of Article 1 of Directive 2002/47/EC of the European Parliament…

I. – Provided that the essential obligations of the contract continue to be met, in particular the obligations to pay and deliver financial instruments and the guarantee obligations, the implementation of a measure taken pursuant to this sub-section or a crisis prevention or management measure referred to in Article L. 613-45-1, with regard to a person mentioned in I of Article L. 613-34 or, the suspension of a payment or…

I. – The resolution measures referred to in subparagraphs 3, 4, 5 or 6 of this paragraph may be implemented by the resolution college separately or in combination. A measure to segregate assets taken in application of the provisions of sub-paragraph 5 may not be implemented independently of the implementation of another resolution measure taken under sub-paragraphs 3, 4 and 6. II. – Where the implementation of the resolution measures…

I. – A transfer of ownership of equity securities referred to in Chapter II of Title I of Book II or other ownership securities, as well as assets, rights or obligations of a person subject to a resolution procedure or a bridge institution shall be carried out at the best price in the circumstances, in accordance with an open, transparent and non-discriminatory procedure, in compliance with the legal regime governing…

Without prejudice to Articles L. 142-9, L. 312-14, L. 322-2, L. 612-17, L. 613-34-4 and L. 632-1 A, the following persons are bound by professional secrecy under the conditions and subject to the penalties laid down in Article L. 641-1 when they contribute to the performance of the duties defined in 4° of II of Article L. 612-1 : 1° Any person whom the resolution college or the supervisory college…

The collège de résolution and the fonds de garantie des dépôts et de résolution may recover sums corresponding to the amount of any justified expenses incurred in implementing one or more resolution measures. These expenses must have been reasonable and properly incurred. Recovery is made in one or more of the following ways: 1° By deducting the amount of the sums to be recovered from any consideration paid by a…

Where it is considering taking a write-down, conversion, transfer or other resolution measure in respect of an asset located in a third country or in respect of rights, undertakings, capital securities referred to in Chapter II of Title I of Book II or other property titles governed by the law of a third country, the resolution college may require the administrator, liquidator or any other person exercising control over the…