Sub-paragraph 3: Provisions relating to the transfer of activities

The resolution college may decide to transfer, on one or more occasions, to one or more purchasers other than a bridge institution, all or part of the equity securities mentioned in Chapter II of Title I of Book II or other securities as well as the assets, rights or obligations of the person subject to resolution proceedings. This transfer requires the agreement of the purchaser. This transfer also concerns the…

With the agreement of the purchaser, the College of Resolution may return to its original owner any item that has been transferred pursuant to the first paragraph of Article L. 613-52, without the latter being able to object.

I. – Without prejudice to the European Union’s legal regime on state aid, the resolution board may waive the provisions of I of Article L. 613-50-6 if their implementation is likely to compromise the achievement of the objectives of the resolution mentioned in I of Article L. 613-50. II. – Subject to IV and Article L. 613-58-1, this transfer is not subject to compliance with any procedural requirements under the…

The holders of equity securities referred to in Chapter II of Title I of Book II or other securities or creditors of the person subject to resolution proceedings and any other party whose assets, rights and obligations are not transferred shall have no direct or indirect rights in the assets, rights or obligations transferred to the purchaser.

Where only the provisions of this sub-paragraph are applied to transfer part of the assets, rights or obligations of a person subject to a resolution procedure, the residual entity shall be wound up in accordance with the provisions of Book VI of the Commercial Code. The liquidation shall take place within a reasonable time without prejudice to : 1° Any obligation on the person whose assets, rights or obligations have…

For the sole purpose of exercising the freedom to provide services or the freedom of establishment in another Member State, the acquirer shall be deemed to be a continuation of the person subject to resolution proceedings and shall continue to exercise any rights previously held by that person in respect of the property, rights or obligations transferred.

I. – Participation, membership or access rights to the systems referred to in Article L. 330-1, to the trading platforms referred to in Title II of Book IV and to the clearing houses referred to in Title IV of Book IV are transferred to the acquirer provided that it meets the criteria for participation, membership or access to these market infrastructures. However, the absence of a rating or an insufficient…