Notwithstanding the provisions of Titles II and III of Book II and Title II of Book VIII of the French Commercial Code : 1° The shares are fully paid up as soon as they are issued; 2° Any contribution in kind is assessed under the responsibility of the Statutory Auditor; 3° Ordinary General Meetings may be held without a quorum being required. The same applies to Extraordinary General Meetings on…
Articles L. 224-1, L. 224-2, the second paragraph of article L. 225-68, the second paragraph of article L. 225-131, articles L. 225-258 to L. 225-270, L. 232-2 and L. 232-10 of the French Commercial Code do not apply to SICAFs.
The Articles of Association of the SICAF determine the duration of the accounting periods, which may not exceed twelve months. However, the first financial year may be for a different period but may not exceed eighteen months. Within six weeks of the end of each half-year, the SICAF shall draw up an inventory of its assets under the supervision of the Custodian. Within eight weeks of the end of each…
The provisions of this sub-section apply to SICAFs whose shares are admitted to trading on a regulated market for financial instruments referred to in Article L. 421-1 or on a multilateral trading facility referred to in Article L. 424-1.
Articles L. 22-10-62, the first paragraph of Article L. 225-210 and Articles L. 225-211 and L. 22-10-64 of the French Commercial Code do not apply to SICAFs covered by this sub-paragraph. A SICAF covered by this sub-paragraph is authorised to buy back its shares, without obtaining the authorisation of the General Meeting, up to a limit of 10% of its capital per year. However, this limit is increased to 25%…
When the units or shares of a closed-end investment fund established under foreign law are admitted to trading on a financial instruments market referred to in Article L. 421-1 or a multilateral trading facility referred to in Article L. 424-1, the units or shares of a closed-end investment fund established under foreign law are admitted to trading, the market undertaking or system operator shall verify that the fund is subject…
Unless otherwise stipulated, the provisions of articles L. 214-24-24 to L. 214-24-27 and L. 214-24-29 to L. 214-26-2 shall apply to AIFs covered by this paragraph.
A fund of hedge funds may invest in the assets mentioned in article L. 214-24-55 under the conditions laid down by a decree of the Conseil d’Etat.
The general regulations of the Autorité des marchés financiers shall set the conditions for the subscription, sale and redemption of units or shares issued by such funds. By way of derogation from the third paragraph of Article L. 214-24-29 and the first paragraph of Article L. 214-24-34, the regulations or articles of association of the fund of hedge funds may stipulate that the redemption of units or shares may be…
Where a fund of hedge funds is a master AIF, the rules governing the holding, investment, canvassing and marketing of the feeder AIF are those of the master AIF.
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
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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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