Paragraph 2: Provisions specific to pledges of securities registered in a shared electronic recording device

I.-If the issuer or its authorised agent responsible for registering the financial instruments in the shared electronic registration system in accordance with article R. 211-3 is not a person authorised to receive repayable funds from the public within the meaning of article L. 312-2, the proceeds of the financial instruments paid in any currency must be credited to an account opened in the books of an intermediary mentioned in article…