Article R214-199 of the French Monetary and Financial Code
November 6, 2023
The rules set out in articles R. 214-92 to R. 214-117 do not apply to professional undertakings for collective real estate investment.
The rules set out in articles R. 214-92 to R. 214-117 do not apply to professional undertakings for collective real estate investment.
The regulations or articles of association of a professional undertaking for collective real estate investment set out the rules for the constitution and composition of the undertaking’s assets and the rules for borrowing, the use of the financial futures instruments referred to in article L. 214-38 , the temporary purchase and sale of securities and the guarantees referred to in article L. 214-41.
The summary report on the performance of the mission of the external valuation expert, mentioned in article L. 214-149, is made available to unitholders or shareholders who request it, within forty-five days of the publication of the annual report of the professional undertaking for collective real estate investment. Where a unit-holder or shareholder requests to receive the report on paper, the cost of sending it by post may be charged…
Unless otherwise stipulated and with the exception of articles R. 214-32-16 to R. 214-32-42, articles R. 214-32-9 to D. 214-33 apply to funds covered by this sub-paragraph.
Article D. 214-32-31 I applies to AIFs covered by this sub-paragraph.
When granting loans, the purpose of a specialised professional fund is to hold these loans until maturity, unless otherwise stipulated in article R. 214-203-2. This activity is subject to the provisions of this sub-paragraph. For the purposes of this sub-paragraph, the following are treated as loans a) The credit transactions referred to in Article L. 313-1 ; b) The subscription of savings bonds referred to in Article L. 223-1. Current…
A specialised professional fund may only dispose of unmatured or lapsed loans that it has granted after the Autorité des marchés financiers has approved a specific programme of operations submitted by its management company, in accordance with the conditions set out in the general regulations of that authority. However, the approval referred to in the first paragraph is not required: 1° When the fund is being liquidated in the interests…
I. – A specialised professional fund granting loans is managed by : 1° A portfolio management company referred to in Article L. 532-9, authorised to manage FIAs and subject to the legislative and regulatory provisions of paragraphs 1 to 5 of Subsection 1 of Section 2 of Chapter IV of Title 1 of Book II, and with a programme of operations that includes the business of granting loans ; 2°…
The beneficiaries of a loan granted by a specialised professional fund may be : 1° Sole proprietorships or legal entities governed by private law primarily engaged in a commercial, industrial, agricultural, craft or real estate activity, excluding collective investments and financial undertakings within the meaning of Regulation (EU) No 2015/760 of the European Parliament and of the Council of 29 April 2015 on European long-term investment funds ; 2° Legal…
I. – The regulations or articles of association of the specialised professional fund which grants loans specify the date of its liquidation and may provide for a right to temporarily extend its life, and the conditions for exercising such a right. II. – Loans may not be granted for a period exceeding the residual life of the specialised professional fund. III. – The fund rules or the articles of association…
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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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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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