Article R211-7 of the French Monetary and Financial Code
A central depository may create certificates representing French financial securities that may only circulate abroad. It may delegate this right to a member for a specific issue.
Home | French Legislation Articles | French Monetary and Financial Code | Page 301
A central depository may create certificates representing French financial securities that may only circulate abroad. It may delegate this right to a member for a specific issue.
Where a central depository is affiliated to a foreign body of the same type, it has the option, on the one hand, of providing that registered entries of foreign financial securities are made in the name of its foreign counterpart and, on the other hand, of leaving foreign financial securities in bearer form or equivalent on deposit with the latter.
The rules governing the identification of shareholders are set out in Articles R. 228-3 to R. 228-6 of the French Commercial Code.
The registration referred to in 3 of article L. 211-4 may be made in the form of a collective account or in several individual accounts, each corresponding to an owner.
The declaration referred to in article L. 211-4 is made to the undertaking for collective investment, to an intermediary referred to in article L. 211-3 or to a central depository when the registered intermediary has opened a securities account with this central depository.
Where the units or shares of undertakings for collective investment are in registered form, the registered intermediary is required, within ten business days of the request for identification made pursuant to article L. 211-5 and referred to inarticle L. 228-3 of the Commercial Code, to disclose the identity of the owners of these securities, as well as the quantity of securities held by each of them.
Without prejudice to Article R. 22-10-28 of the French Commercial Code, the right to attend General Meetings of undertakings for collective investment in the form of companies whose shares are admitted to trading on a trading platform or to the operations of a central depositary is also evidenced by the registration of the shares in the name of the registered intermediary referred to in Article L. 211-4 on behalf of…
Subject toArticle L. 225-106 of the Commercial Code, the registered intermediary referred to in Article L. 211-4 (3) may, under a general securities management mandate, transmit a shareholder’s vote or proxy for a meeting of an undertaking for collective investment in the form of a company. Before transmitting a shareholder’s proxy or vote at a general meeting, the registered intermediary must, at the request of the undertaking for collective investment…
The registered intermediary who is the beneficiary of a proxy mentioned in article D. 211-9-5 may transmit or issue shareholders’ votes under his signature. The mandates and proxies referred to in article D. 211-9-5 shall be kept for a period of three years from the General Meeting at which the voting rights were exercised.
The shared electronic registration system referred to in the second paragraph of Article L. 211-7 is designed and implemented in such a way as to guarantee the recording and integrity of registrations and to make it possible, directly or indirectly, to identify the owners of securities and the nature and number of securities held. Entries made in this registration system are subject to an updated business continuity plan, including an…
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call us at +33 (0) 1 84 88 31 00 or send us an email.
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
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
Resources
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
Useful links
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call +33 (0) 1 84 88 31 00 or send us an email.
All information exchanged through this website will be communicated to lawyers registered with a French Bar and will remain confidential.