Section 1: Provisions relating to the preparation, assessment and implementation of preventive recovery plans

The supervisory board of the Autorité de contrôle prudentiel et de résolution shall notify the persons required to draw up a preventive recovery plan pursuant to the provisions of Article L. 311-5 of the results of its examination provided for in Article L. 311-6, within six months of receiving the plan. This notification is made after receiving the opinion of the collège de résolution. If the Supervisory Board remains silent…

As part of the examination provided for in Article L. 311-6, the supervisory board shall ensure that the preventive recovery plan meets the requirements of IV of Article L. 311-5 and the regulatory provisions adopted for its application. In particular, it assesses the ability of this plan to maintain or restore the viability and financial situation of the persons concerned or the group to which they belong. The supervisory board…

Persons required to draw up a preventive recovery plan shall inform the supervisory board as soon as possible if, in implementing the plan, they adopt a recovery measure provided for therein. They shall also inform the college, where applicable, of their decision to refrain from taking such a decision when they could be led to do so in the light of the indicators mentioned in IV of article L. 311-5.

I.- Pursuant to the last paragraph of I of Article L. 311-5, the persons referred to in that same I who are subject to the obligation to draw up and keep up to date a preventive recovery plan may ask the supervisory board to be exempted from this obligation when they constitute entities of a group whose parent company is located abroad and which is itself subject to such an…

When a person referred to in Article L. 311-1 crosses a threshold applicable to it, among those mentioned in I of Article L. 311-5, it shall inform the supervisory board within one month of this crossing. This person has a period of one year, from the date of the quarterly close recording that the threshold has been exceeded, to draw up a preventive recovery plan under the conditions provided for…

When, pursuant to II of Article L. 311-5, the supervisory board asks a person to draw up a preventive recovery plan, that person has eighteen months to draw up the plan. This period may be reduced to six months by the supervisory board if it considers that this person is likely, within one year, to no longer comply with the conditions of its authorisation provided for in Article L. 321-10…