French Insurance Code

I.-Any transaction enabling a person, acting alone or in concert with other persons within the meaning of article L. 233-10 of the French Commercial Code, to acquire, extend, reduce or cease to hold, directly or indirectly, a stake in an undertaking referred to in 1° of article L. 310-2 or 1° of III of article L. 310-1-1 of this code must be notified to the Autorité de contrôle prudentiel et…

I.-The Autorité de contrôle prudentiel et de résolution shall acknowledge receipt in writing, within two business days of its receipt, of the notification of an acquisition or extension of shareholding referred to in I of Article R. 322-11-1. The Autorité de contrôle prudentiel et de résolution has sixty working days from the date of acknowledgement of receipt of the notification to assess the transaction. The AMF shall inform the proposed…

Within two working days of receiving notification of a disposal or reduction in holding as referred to in Article R. 322-11-1, the Autorité de contrôle prudentiel et de résolution shall acknowledge receipt of the notification in writing to the declarant. The Autorité de contrôle prudentiel et de résolution has sixty working days from receipt of this acknowledgement to inform the declarant and the undertaking concerned by the proposed transaction that,…

The undertakings referred to in 1° of Article L. 310-2 and in 1° of III of Article L. 310-1-1 shall inform the Autorité de contrôle prudentiel et de résolution, at least once a year, of the identity of shareholders or members who hold, directly or indirectly, at least 10% of the voting rights or capital of the undertaking, as well as the amount of these holdings, as shown in particular…

Any person intending to file a draft public offer with the Autorité des marchés financiers pursuant to Chapter III of Title III of Book IV of the Monetary and Financial Code, with a view to acquiring a given quantity of securities of an insurance or reinsurance undertaking authorised in France, may give prior notice to the Chairman of the Autorité de contrôle prudentiel et de résolution eight working days before…

Where, pursuant to VII of Article L. 322-2, the Autorité de contrôle prudentiel et de résolution takes account, in its assessment of each member of the board of directors or the supervisory board, of the skills, experience and responsibilities of the other members of the body to which he belongs, it ensures that they collectively have the necessary knowledge and experience of insurance and financial markets, the company’s strategy and…