French Insurance Code

I.-The contribution made by insurance undertakings to finance the intervention of the guarantee fund in the event of the withdrawal of authorisation of an insurance undertaking covering, on the territory of the French Republic, the risks covered by compulsory insurance for land motor vehicles and their trailers and semi-trailers, is divided between these undertakings in proportion to the premiums or contributions for the last financial year, including supplements and reminders…

I.-The contribution made by insurance undertakings to finance the intervention of the guarantee fund in the event of the withdrawal of authorisation of an insurance undertaking covering, in the territory of the French Republic, risks covered by compulsory insurance pursuant to article L. 242-1 is calculated in accordance with the procedures laid down by order of the Minister responsible for the economy. This contribution comprises two parts: 1° A first…

Declarations made by insurance undertakings to the guarantee fund indicating the items to be taken into account for the assessment of the contributions referred to in articles L. 421-10 and L. 421-10-1 must comply with the items and information contained in the financial statements of the undertakings and certified by one or more persons authorised to carry out statutory audits of their annual or consolidated accounts. The guarantee fund may…

Where an insurance or reinsurance undertaking operating in the territory of the French Republic fails to comply with the rules imposed on it by virtue of this section, the guarantee fund shall inform the Autorité de contrôle prudentiel et de résolution. The latter shall carry out its supervision and, if necessary, implement sanction procedures, in accordance with the conditions set out in Article L. 363-4 and Chapter II of Title…