Subsection 2: Management rules.

The directors of the third-party financing company referred to in Article 8 of Article L. 511-6 must be of good repute and have the competence and experience required for their duties. The AMF assesses compliance with this condition under conditions set by order of the Minister for the Economy.

The initial paid-up capital of the société de tiers-financement referred to in Article L. 511-6 (8) may not be less than €2 million.

As part of their lending activity, sociétés de tiers-financement are subject to the following obligations: 1° Include energy-efficiency home loans in their statutory purpose, in accordance with the authorisation given to them, pursuant to article R. 518-70; 2° Set up an internal control system for their lending activity, which must include rules for selecting and monitoring risks, separation of decision-making and control functions, signature by a duly authorised person for…