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Article L214-175-2 of the French Monetary and Financial Code

November 8, 2023

I. – A securitisation undertaking appoints a depositary having its registered office or a branch in France. This appointment is evidenced by a written contract. This contract contains in particular the information necessary to enable the depositary to fulfil its duties. The custodian is a credit institution established in a State party to the European Economic Area, or any other institution chosen from a list of entities drawn up by…

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Article L214-175-3 of the French Monetary and Financial Code

November 8, 2023

To avoid conflicts of interest between the depositary, the management company and, where applicable, the sponsor referred to in IV of Article L. 214-175-1, the securitisation undertaking and its unitholders, debt security holders or shareholders must comply with the following provisions: 1° The securitisation undertaking, its management company and, where applicable, the sponsor where the regulations or the articles of association of the undertaking so provide, shall not act as…

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Article L214-175-4 of the French Monetary and Financial Code

November 8, 2023

I. – In accordance with the conditions laid down in the general regulations of the Autorité des marchés financiers, the depositary : 1° ensures that all payments made by or on behalf of holders of units, shares or debt securities issued by the securitisation undertaking when subscribing for such units, debt securities or shares have been received and that all cash has been accounted for ; 2° Generally ensures that…

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Article L214-175-5 of the French Monetary and Financial Code

November 8, 2023

The custodian may not delegate to third parties the functions conferred upon it by I and III of Article L. 214-175-4. Under the conditions laid down by the General Regulations of the Autorité des Marchés Financiers, the custodian may delegate to third parties the asset safekeeping functions referred to in II of Article L. 214-175-4, with the exception of 2°. The transferor or the entity responsible for collecting the receivables…

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Article L214-175-6 of the French Monetary and Financial Code

November 8, 2023

I. – The securitisation undertaking’s depositary is liable to the undertaking or to the unitholders, debt security holders or shareholders for the loss, by itself or by a third party to whom custody has been delegated, of financial instruments held in custody in accordance with II of Article L. 214-175-4. It shall not be held liable if it proves, under the conditions defined by the General Regulation of the Autorité…

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Article L214-176 of the French Monetary and Financial Code

November 8, 2023

A securitisation company is a securitisation undertaking constituted in the form of a public limited company (société anonyme) or a simplified joint stock company (société par actions simplifiée). The company indicates its status as a securitisation company on all deeds and documents intended for third parties.

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Article L214-177 of the French Monetary and Financial Code

November 8, 2023

When the articles of association of the securitisation company provide for the use of forward financial instruments to expose the company, or for the sale of receivables that are not due or for which the term has expired, the management company referred to in the first paragraph submits a specific programme of operations for approval by the Autorité des marchés financiers under the conditions set out in the general regulations…

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Article L214-179 of the French Monetary and Financial Code

November 8, 2023

I. – Where the securitisation company is incorporated as a société anonyme, notwithstanding Titles II and III of Book II of the French Commercial Code : 1° The ordinary general meeting may be held without a quorum being required; the same applies, on second call, to the extraordinary general meeting; 2° The same natural person may simultaneously hold five offices as managing director, member of the management board or sole…

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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
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182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396

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