Section 7: Crisis prevention and management measures for central counterparties

The resolution college of the Autorité de contrôle prudentiel et de résolution shall exercise the powers of resolution authority provided for in Regulation (EU) 2021/23 of 16 December 2020 on a framework for the recovery and resolution of central counterparties, under the conditions set out in Article L. 612-8-1.

Where the resolution authority of another Member State of the European Union implements one or more resolution measures pursuant to Regulation (EU) 2021/23, the resolution college shall provide it with the cooperation required to ensure the effectiveness of such measures. Where such measures concern ownership interests, assets, rights, obligations or liabilities of the CCP subject to resolution proceedings which are located in France or governed by French law, such measures…

I.-The provisions of this article shall apply in cases where there is no agreement between the European Union and a non-EU Member State and in cases where an existing agreement does not deal with the recognition and enforcement of resolution procedures for CCPs in force in that State. II.-The resolution college of the Autorité de contrôle prudentiel et de résolution shall take a decision to recognise the resolution procedure of…

I.-Articles L. 211-36-1 to L. 211-38 do not prevent the application of measures imposed pursuant to Title V, Chapter III, Section 3 and Chapter IV of Regulation (EU) 2021/23. II – Articles L. 211-36-1 to L. 211-38 shall not prevent the application of measures imposed by the relevant national authorities of another Member State of the Union by virtue of the provisions mentioned in I.

The provisions relating to public offers mentioned in Article L. 433-3 do not apply to measures taken by the resolution college under Title V of Regulation (EU) 2021/23.

I.-Articles L. 632-1 to L. 632-4 of the French Commercial Code are not applicable to measures decided or authorised by the resolution college pursuant to Title V of Regulation (EU) 2021/23. II.-Notwithstanding any provision or stipulation to the contrary, the general meeting of a clearing house may, by a two-thirds majority, issue a notice convening a general meeting or amend its articles of association in order to allow a general…

I.-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, reductions or amortisations decided under Title V of Regulation (EU) 2021/23 are carried out ipso jure on the date set by the resolution college, without the need for any formality or being subject to any procedure, in particular the convening…