Section 4: Measures to prevent and manage banking crises

I. – The provisions of this section apply to the following persons: 1° The credit institutions defined in Article L. 511-1 and the central bodies mentioned in Article L. 511-30 ; 2° Investment firms within the meaning of Article L. 531-4 and branches of third country firms mentioned in Article L. 532-48, with the exception of those which exclusively provide one or more of the investment services mentioned in 1,…

In this Section and in Section 5 of this Chapter: 1° “Significant branch” means a branch of significant importance within the meaning of Article L. 613-32-1 ; 2° “Transnational group” means a group with entities established in more than one Member State of the European Union; 3° “EU State aid rules” means all the rules laid down by Articles 107, 108 and 109 of the Treaty on the Functioning of…

In carrying out the tasks referred to in 4° of II of Article L. 612-1, the college of supervisors and the college of resolution shall take into account the nature of the activities of the entity concerned, the composition of its shareholders, its legal form, its risk profile, its size, its legal status and its interconnection with other institutions or with the financial system in general, the scope and complexity…

For the purposes of this Section, where the college of supervisors or the college of resolution takes a decision or measure which may have an impact in one or more other Member States, the college shall take into account the interest of the other Member States in which significant parent undertakings, subsidiaries or branches are established, including the impact on the financial stability, budgetary resources and deposit guarantee or investor…

I. – Notwithstanding the provisions of Act 68-678 of 26 July 1968 relating to the disclosure of economic, commercial, industrial, financial or technical documents and information to foreign natural or legal persons, the collège de résolution and the collège de supervision may, in the performance of their task of preventing and resolving banking crises, exchange information covered by professional secrecy with the following persons or departments: 1° The Minister for…

The supervisory board or the resolution board may require the persons mentioned in I or II of Article L. 613-34 to keep detailed records of the financial contracts to which they are party. The collège de supervision or the collège de résolution shall set the deadlines by which the persons concerned must be able to produce these records.

The provisions relating to public offers mentioned in Article L. 433-3 do not apply to measures taken by the collège de résolution under this section.

Notwithstanding any provision or stipulation to the contrary, contributions within the meaning ofarticle 1843-3 of the French Civil Code and Book II of the French Commercial Code and capital increases or reductions decided upon under this section are effected ipso jure on the date set by the Board of Directors without the need for any formality or procedure, in particular the convening of a General Meeting. The same applies to…

Notwithstanding any provision or stipulation to the contrary, the general meeting of one of the persons referred to in I and II of Article L. 613-34 may, by a two-thirds majority, amend the articles of association of that person in order to allow a general meeting to be called within a period of not less than ten days to authorise a capital increase when : 1° The person concerned is…

Articles L. 632-1 to L. 632-4 of the French Commercial Code do not apply to measures decided or authorised by the supervisory board pursuant to Article L. 511-41-5 or by the resolution board pursuant to this section, or to acts carried out by the persons they designate pursuant to Articles L. 612-34-1 and L. 613-51.