French Business Law - French Legislation

Article D214-32-7-6 of the French Monetary and Financial Code

November 6, 2023

The AIF or its management company shall inform the persons referred to in Article D. 214-32-7-5: 1° The identity of AIFs or their management companies which, either individually or as a result of an agreement concluded with other AIFs or their management companies, have acquired control of the company concerned ; 2° The policy on the prevention and management of conflicts of interest, in particular between the AIF or its…

Article D214-32-7-7 of the French Monetary and Financial Code

November 6, 2023

In its notification to the company concerned, the AIF or its management company shall ask the company’s board of directors or its equivalent to forward without delay to the employees’ representatives or, failing that, to the employees themselves, the information referred to in Article D. 214-32-7-6.

Article D214-32-7-8 of the French Monetary and Financial Code

November 6, 2023

The AIF or its management company shall inform of its intentions regarding the activity of the company concerned and the possible repercussions on employment, in particular any significant change in employment conditions: 1° The company concerned ; 2° The shareholders of the company concerned whose identity and contact details are made available to the AIF or its management company or can be obtained from the company concerned or appear in…

Article D214-32-7-9 of the French Monetary and Financial Code

November 6, 2023

The AIF or its management company shall provide the AMF and the AIF’s unitholders or shareholders with information relating to the financing of the acquisition of the company concerned.

Article D214-32-7-10 of the French Monetary and Financial Code

November 6, 2023

The AIF or its management company: 1° Requests and ensures that the annual report of the company concerned, drafted in accordance with Article D. 214-32-7-11 and drawn up within the period stipulated by the regulations in force, is made available by its board of directors or its equivalent to the employees’ representatives or, failing that, to the employees themselves; or 2° Include in the annual report referred to in Article…

Article D214-32-7-11 of the French Monetary and Financial Code

November 6, 2023

The additional information included in the annual report of the company concerned or of the AIF, in accordance with Article D. 214-32-7-10, includes a fair presentation of the development of the activities of the company concerned reflecting the situation at the end of the period covered by the annual report. This report shall also mention 1° Important events occurring after the end of the financial year ; 2° The foreseeable…

Article D214-32-7-12 of the French Monetary and Financial Code

November 6, 2023

The AIF or its management company: 1° Requests and ensures that the board of directors of the company concerned or its equivalent makes available to the representatives of the employees, or failing that, to the employees themselves, the information relating to the company concerned mentioned in 2° of Article D. 214-32-7-10, within the period mentioned in Article D. 214-32-5; or 2° Provides the AIF unitholders or shareholders with the information…

Article D214-32-7-13 of the French Monetary and Financial Code

November 6, 2023

For a period of twenty-four months following the acquisition of control of the company by the AIF and for as long as the AIF holds control during this period, the AIF or its management company : 1° Is not authorised to facilitate, support or order the distribution, reduction of capital, repurchase of shares or acquisition of its own shares by the company, as defined in articles D. 214-32-7-14 and D….

Article D214-32-7-14 of the French Monetary and Financial Code

November 6, 2023

The obligations imposed on the AIF or the management company by virtue of Article D. 214-32-7-13 relate to : 1° Any distribution made to shareholders where, at the closing date of the last financial year, the net asset value as defined in the annual accounts of the company concerned is, or would become as a result of such a distribution, less than the amount of the subscribed capital, plus any…

Article D214-32-7-15 of the French Monetary and Financial Code

November 6, 2023

For the purposes of Article D. 214-32-7-14: 1° The term “distribution” includes in particular the payment of dividends and interest on shares; 2° The provisions relating to capital reductions do not apply to a reduction in subscribed capital the purpose of which is to neutralise losses incurred or to include sums of money in a non-distributable reserve provided that, on completion of this operation, the amount of the said reserve…

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Article D214-32-7-6 of the French Monetary and Financial Code

Article D214-32-7-7 of the French Monetary and Financial Code

Article D214-32-7-8 of the French Monetary and Financial Code

Article D214-32-7-9 of the French Monetary and Financial Code

Article D214-32-7-10 of the French Monetary and Financial Code

Article D214-32-7-11 of the French Monetary and Financial Code

Article D214-32-7-12 of the French Monetary and Financial Code

Article D214-32-7-13 of the French Monetary and Financial Code

Article D214-32-7-14 of the French Monetary and Financial Code

Article D214-32-7-15 of the French Monetary and Financial Code

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