I. – Payment service providers may use the services of one or more agents to carry out payment service activities on their behalf, within the limits of their authorisation. Agents may promote the services provided by payment service providers and be authorised to canvass customers on their behalf under the conditions laid down in Chapter I of Title IV of Book III of this Code. All agents act on the…
Persons engaging in the activity of agent, managing or administering an agent or to whom responsibility for the activity of agent is delegated are subject to the disqualifications mentioned in article L. 500-1. No person may engage in the activity or perform the duties referred to in the preceding paragraph if they have been subject for less than five years to : a) a temporary or permanent ban on exercising…
The commissioning payment service provider shall remain fully liable to third parties for the actions of any agent it has commissioned. The payment service provider shall ensure that its agents comply at all times with the legal and regulatory provisions applicable to them and shall subject them to its internal control system provided for in Article L. 522-14, including its system for combating money laundering and the financing of terrorism.
I. – When a payment service provider, other than a credit institution, with its registered office in mainland France, Guadeloupe, French Guiana, Martinique, Reunion Island, Mayotte or Saint-Martin, wishes to use an agent to provide payment services in another Member State of the European Union or party to the Agreement on the European Economic Area, the procedures set out in I of Article L. 522-13 shall apply. II. – When…
For the purposes of Article L. 511-33, I of Article L. 522-19, Article L. 526-35, the last paragraph of Article L. 571-4 and Article L. 572-7, agents are treated in the same way as persons employed by payment service providers.
Credit institutions may, without being subject to Articles L. 523-1 to L. 523-5, authorise any person exercising another profession to issue money exclusively to their customers who have an account with the characteristics mentioned in Article L. 314-1 opened in their books, against a payment order given with a means of payment associated with the aforementioned account. The credit institution remains fully liable to its customers for the actions of…
I. – The immediate exchange of banknotes or coins denominated in different currencies constitutes a manual foreign exchange transaction. The acceptance of payment by another means of payment in exchange for cash delivered to a customer, provided that the latter is denominated in a different currency, also constitutes a manual foreign exchange transaction. II. – Foreign exchange dealers are natural or legal persons, other than credit institutions, finance companies, electronic…
I. – Notwithstanding the prohibition laid down in article L. 511-5, bureaux de change may give euros in cash in exchange for travellers’ cheques denominated in euros. II. – Persons carrying on the business of manual foreign exchange on an occasional basis or for limited amounts under the conditions set out in the last paragraph of Article L. 524-1 are required to send the Autorité de contrôle prudentiel et de…
I. – Before commencing business, bureaux de change shall obtain an authorisation issued by the Autorité de contrôle prudentiel et de résolution, which shall verify that the undertaking meets the following requirements: a) It is registered in the Trade and Companies Register ; b) It has paid-up capital or a guarantee from a credit institution, finance company or insurance company for an amount at least equal to a sum set…
Any person who has not received prior authorisation from the Autorité de contrôle prudentiel et de résolution may not engage in the business of manual foreign exchange. Any person who has been subject to the sanction provided for in V of Article L. 561-36-1 is prohibited from carrying on the business of manual foreign exchange or from de jure or de facto managing a company carrying on such a business….
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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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