French Business Law - French Legislation

Article R721-26 of the French Monetary and Financial Code

November 5, 2023

In New Caledonia, French Polynesia and the Wallis and Futuna Islands, the Institut d’émission d’outre-mer:1° Receives from the Banque de France the information it gathers under the provisions of Articles R. 131-26 to R. 131-31 and R. 131-33 to R. 131-37;2° Carries out the tasks devolved to the Banque de France by Articles R. 131-40 to R. 131-42, under the conditions specified in Articles R. 721-27 and R. 721-28.

Article R721-27 of the French Monetary and Financial Code

November 5, 2023

In order to identify all the accounts held in New Caledonia, French Polynesia and the Wallis and Futuna Islands by the persons mentioned in the first paragraph of Article L. 131-72 and the second paragraph of Article L. 163-6, the Institut d’émission d’outre-mer shall consult the declarations mentioned in Article R. 721-22.

Article R721-28 of the French Monetary and Financial Code

November 5, 2023

In order to carry out the tasks assigned to the Banque de France by Article R. 131-42 in New Caledonia, French Polynesia and the Wallis and Futuna Islands, the Institut d’émission d’outre-mer (French overseas note-issuing bank) shall provide the credit institutions concerned with all the information collected pursuant to Articles L. 131-73 and L. 163-6, no later than the second working day following receipt of the information sent by the…

Article R721-29 of the French Monetary and Financial Code

November 5, 2023

The Supervisory Board, chaired by the Governor of the Banque de France or his representative, is made up of the Director General of the Treasury or his representative, a representative of the Minister for the Economy, two representatives of the Minister for Overseas France, a representative of the Banque de France and three persons representing New Caledonia, French Polynesia and the Wallis and Futuna Islands. The two persons representing New…

Article R721-30 of the French Monetary and Financial Code

November 5, 2023

The Supervisory Board meets at least twice a year, and as often as necessary, when convened by its Chairman, either at the latter’s initiative or at the request of half of its members.The Chairman may decide that a meeting of the Supervisory Board is to be organised remotely in accordance with the conditions set out in Order no. 2014-1329 of 6 November 2014 relating to remote deliberations by administrative bodies…

Article R721-31 of the French Monetary and Financial Code

November 5, 2023

The Supervisory Board sets the terms and conditions of the Institut d’émission d’outre-mer’s operations. These operations are subject to its approval, as are equity investments, which are subject to authorisation by joint order of the Minister for the Economy and the Minister for Overseas France.An audit committee reports to the Supervisory Board. The Government Commissioner and the representative of the Banque de France referred to in article R. 721-34 may…

Article R721-32 of the French Monetary and Financial Code

November 5, 2023

The Managing Director of the Institut d’émission d’outre-mer is appointed by the Chairman of the Supervisory Board for a renewable term of three years.He alone represents the Institut d’émission d’outre-mer in all acts of its civil life. He manages the departments. He may delegate his powers.

Article R721-33 of the French Monetary and Financial Code

November 5, 2023

The accounts of the Institut d’émission d’outre-mer are closed on 31 December each year and approved by the Supervisory Board.15% of the profit of the Institut d’émission d’outre-mer is deducted as a statutory reserve until it reaches half of the capital endowment.After allocation to the other reserves, the balance of the profit is paid to the Treasury. The same applies to the countervalue of the notes and coins issued.

Article R721-34 of the French Monetary and Financial Code

November 5, 2023

A Government Commissioner, appointed by the Minister for the Economy, performs the duties defined by Articles D. 615-1 to D. 615-8 of this Code for the Institut d’émission d’outre-mer, with the exception of that provided for in Article D. 615-6. Together with a representative of the Banque de France, he attends meetings of the Supervisory Board in an advisory capacity.The Institute’s operations may also be audited by Banque de France…

Article R721-35 of the French Monetary and Financial Code

November 5, 2023

The Institut d’émission d’outre-mer carries out the tasks entrusted to it by Article L. 312-1 on behalf of the Banque de France and under its authority.

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Regulatory part

Article R721-26 of the French Monetary and Financial Code

Article R721-27 of the French Monetary and Financial Code

Article R721-28 of the French Monetary and Financial Code

Article R721-29 of the French Monetary and Financial Code

Article R721-30 of the French Monetary and Financial Code

Article R721-31 of the French Monetary and Financial Code

Article R721-32 of the French Monetary and Financial Code

Article R721-33 of the French Monetary and Financial Code

Article R721-34 of the French Monetary and Financial Code

Article R721-35 of the French Monetary and Financial Code

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