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Article L613-21-7 of the French Monetary and Financial Code

November 7, 2023

I. – When the Autorité de contrôle prudentiel et de résolution is consulted by the authority of another Member State of the European Union or party to the Agreement on the European Economic Area, responsible for the supervision on a consolidated basis of a group which is considering taking measures against the parent undertaking of the group equivalent to those provided for in Articles L. 511-41-5 or L. 612-34-1, the…

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Article L613-24 of the French Monetary and Financial Code

November 7, 2023

When a credit institution, finance company, electronic money institution, payment institution or one of the persons mentioned in 2° of A of I of Article L. 612-2 has been struck off or banned from activity, as appropriate, or when a company is unlawfully carrying out the activity defined in Article L. 311-1, II of Article L. 314-1 and Article L. 511-1 or breaches one of the prohibitions defined in Article…

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Article L613-25 of the French Monetary and Financial Code

November 7, 2023

Where a provisional administrator or liquidator has been appointed for a credit institution in accordance with Articles L. 612-34 and L. 613-24, the Autorité de contrôle prudentiel et de résolution may, after obtaining the opinion of the guarantee fund requested under Article L. 312-5, refer the matter to the court so that, where it considers that this is in the interests of depositors, it may order the sale of the…

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Article L613-26 of the French Monetary and Financial Code

November 7, 2023

Notwithstanding the provisions of article L. 631-1 of the French Commercial Code, credit institutions or finance companies that are unable to ensure their payments, immediately or in the near future, are declared to be in suspension of payments. Notwithstanding the same provisions, a central body referred to in article L. 511-30 or one of its affiliates is declared to be in suspension of payments if, after implementation of the measures…

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Article L613-27 of the French Monetary and Financial Code

November 7, 2023

Safeguard, receivership and compulsory liquidation proceedings instituted by Title II of Book VI of the Commercial Code may not be opened in respect of a credit institution, finance company, electronic money institution, payment institution, investment firm, financial holding company, investment holding company, mixed financial holding company or mixed holding company referred to in 4° to 6° of I of Article L. 613-34 only after receiving the assent of the Autorité…

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Article L613-28 of the French Monetary and Financial Code

November 7, 2023

Where a provisional administrator has been appointed by the Autorité de contrôle prudentiel et de résolution pursuant to Article L. 612-34, the court may only entrust the administrator with the supervision of management operations, as provided for in Article L. 622-1 of the French Commercial Code.

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Article L613-29 of the French Monetary and Financial Code

November 7, 2023

In the event of the opening or pronouncement of compulsory liquidation proceedings in respect of a credit institution, finance company, electronic money institution, payment institution or investment firm, the Autorité de contrôle prudentiel et de résolution shall appoint a liquidator who shall make an inventory of the assets, carry out liquidation operations and make redundancies, in accordance with the terms and conditions set out in Title IV of Book VI…

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Article L613-30 of the French Monetary and Financial Code

November 7, 2023

In the event of the opening of safeguard, reorganisation or liquidation proceedings in respect of a credit institution or an investment firm, the guarantee fund and the depositors are exempt from the declaration provided for in Article L. 622-24 of the French Commercial Code in respect of their claims falling wholly or partly within the scope of intervention of the fund. The fund informs the depositors of the amount of…

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Article L613-30-1 of the French Monetary and Financial Code

November 7, 2023

The opening of safeguard, receivership or compulsory liquidation proceedings, as well as any enforcement proceedings and any equivalent legal proceedings opened against a payment institution on the basis of foreign law, shall not affect funds received from payment service users deposited or invested in financial instruments held in accounts opened specifically for this purpose under the conditions set out in Article L. 522-17. In the event of the opening of…

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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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