Article L22-10-51 of the French Commercial code
In companies whose shares are admitted to trading on a regulated market, the General Meeting may provide that the capital increase that it decides or authorises pursuant to article L. 225-135 includes a priority subscription period for shareholders, the minimum duration of which is set by decree by the Conseil d’Etat. It may also delegate to the Board of Directors or the Management Board the power to assess whether it…