Sub-paragraph 2: Provisions relating to the administration of the person subject to a resolution procedure

Where it decides to implement the measures referred to in this subsection in respect of a person referred to in I of Article L. 613-34 of the measures referred to in this sub-section, the resolution board may decide to exercise, in respect of that person, all the rights and powers conferred on the holders of equity securities referred to in Chapter II of Title I of Book II or of…

I. – When the managers referred to in Article L. 511-13 or Article L . 532-2(4), the board of directors, the supervisory board or any other body exercising equivalent supervisory functions of an entity subject to a resolution procedure are dismissed, the resolution college may appoint a special administrator, who may be a natural person or a legal entity, to whom all powers of administration, management and representation of this…

The resolution college may dismiss and replace the members of the management board, the senior management or any other person who effectively manages the business within the meaning of Articles L. 511-13 or L. 532-2, as well as the members of the board of directors, the supervisory board or any other body exercising equivalent functions, of a person mentioned in I of Article L. 613-34 subject to a resolution procedure.