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French Monetary and Financial Code

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Article L511-7 of the French Monetary and Financial Code

November 7, 2023

I. – The prohibitions defined in article L. 511-5 do not prevent a company, whatever its nature, from : 1. In the course of its business, grant its contractors payment deadlines or advances; 2. Enter into contracts for the lease of residential property with an option to purchase; 3. Carry out treasury transactions with companies that have direct or indirect capital links with it, giving one of the affiliated companies…

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Article L511-8 of the French Monetary and Financial Code

November 7, 2023

It is prohibited for any undertaking other than a credit institution or finance company to use a name, company name, advertising or, in general, expressions that lead to the belief that it is authorised as a credit institution or finance company respectively, or to create confusion in this respect. A credit institution or finance company may not imply that it belongs to a category other than that for which it…

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Article L511-8-1 of the French Monetary and Financial Code

November 7, 2023

I. – Notwithstanding any provision to the contrary, any credit or financial institution referred to in Article L. 511-22 or Article L. 511-23 may, when carrying on business in France, use the same name as that which it uses in its home Member State. However, where this name is likely to give the impression that the establishment may provide services other than those for which it benefits from the freedom…

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Article L511-8-2 of the French Monetary and Financial Code

November 7, 2023

Any credit institution operating on the markets for financial futures instruments whose underlying asset is, in whole or in part, an agricultural commodity is prohibited from building up physical stocks of agricultural commodities with the aim of exerting a significant effect on the price of these agricultural commodity markets.

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Article L511-9 of the French Monetary and Financial Code

November 7, 2023

Credit institutions are authorised as banks, mutual or cooperative banks, specialised credit institutions, credit and investment institutions or municipal credit funds. Banks may carry out all banking transactions. Mutual or cooperative banks, specialised credit institutions and municipal credit unions may carry out all banking transactions subject to the restrictions set out in the laws and regulations governing them. Credit and investment institutions may carry out all transactions subject to the…

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Article L511-10 of the French Monetary and Financial Code

November 7, 2023

I. – Before commencing business, credit institutions must obtain authorisation. This authorisation is granted to legal entities with their registered office in France or to branches established on French territory of credit institutions with their registered office in a State that is neither a member of the European Union nor a party to the Agreement on the European Economic Area. Pursuant to Articles 4 and 14 of Council Regulation (EU)…

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Article L511-11 of the French Monetary and Financial Code

November 7, 2023

Credit institutions and finance companies must have paid-up initial capital or a paid-up endowment, the minimum amount of which, between one million and five million euros depending on the authorisation granted, is defined by order of the Minister for the Economy. This order also defines the elements taken into account to determine this amount.

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Article L511-12-1 of the French Monetary and Financial Code

November 7, 2023

I. – Changes in the ownership structure of a credit institution or finance company must be notified to the Autorité de contrôle prudentiel et de résolution. Pursuant to Articles 4 and 15 of Council Regulation (EU) No 1024/2013 of 15 October 2013, the acquisition or extension of direct or indirect shareholdings in a credit institution shall be subject, on a proposal from the Autorité de contrôle prudentiel et de résolution,…

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Article L511-12-2 of the French Monetary and Financial Code

November 7, 2023

The establishment of branches in States that are not parties to the Agreement on the European Economic Area and the acquisition of all or part of a significant line of business by a credit institution referred to in Article L. 611-1 must be authorised by the Autorité de contrôle prudentiel et de résolution.

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Article L511-13 of the French Monetary and Financial Code

November 7, 2023

The head office and central administration of any credit institution or finance company authorised in accordance with Article L. 511-10 are located in France. These provisions do not apply to branches of credit institutions mentioned in I of article L. 511-10. Credit institutions, including branches of credit institutions referred to in I of Article L. 511-10, or finance companies are effectively managed by at least two persons.

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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396

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Resources 

Contacts
Linkedin

is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396

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