The supervisory board of the Autorité de contrôle prudentiel et de résolution may order a person referred to in Article L. 311-5 to provide, as part of the recovery plan or convergence plan submitted to the Autorité pursuant to Articles L. 352-7 and L. 385-8 of this Code respectively, and in the recovery plan submitted to it pursuant toArticle L. 612-32 of the Monetary and Financial Code, for the application…
I.-Provided that the essential obligations of the contract continue to be met, the implementation of a crisis prevention or management measure referred to in Articles L. 311-12, L. 311-14 or L. 311-30 of this Code or Articles L. 612-33 and L. 612-34 of the Monetary and Financial Code, which is taken with regard to a person referred to in Article L. 311-1 party to this contract, or the occurrence of…
For each of the persons referred to in Article L. 311-1, the methods used to set the remuneration of executive directors, within the meaning of Articles L. 322-3-2 of this Code, L. 211-13 of the Code de la mutualité and L. 931-7-1 of the Social Security Code, and categories of staff whose professional activities have a significant impact on the risk profile of the undertaking or group, including risk-takers, persons…
A decree in the Conseil d’Etat shall specify the conditions of application of this section.
I.-The supervisory board and the members mentioned in 1° and 2° of I of Article L. 612-8-1 of the Monetary and Financial Code may refer the situation of a person mentioned in Article L. 311-1 to the resolution board of the Autorité de contrôle prudentiel et de résolution with a view to implementing one or more resolution measures. However, in the case provided for in 6° of II of this…
Without prejudice to the provisions of Article L. 325-1, the resolution board may decide to withdraw all or part of the authorisation of a person subject to resolution proceedings, where appropriate after implementing resolution measures. The decision to fully withdraw the authorisation of this person does not automatically result in the dissolution of the undertaking. Judicial liquidation, governed by Chapter VI of Title II of Book III of this Code,…
Articles L. 632-1 to L. 632-4 of the French Commercial Code do not apply to measures decided by the resolution college pursuant to this chapter or to acts carried out by the persons it appoints pursuant to Article L. 311-29.
A decree of the Conseil d’Etat shall specify the conditions of application of this sub-section.
I.-When implementing a resolution measure in respect of a person referred to in Article L. 311-1, the College of Resolution shall ensure the continuity of the critical functions resulting from the activity of this person, avoid or reduce the negative effects on financial stability, protect the resources of the State from recourse to exceptional public financial aid and protect the rights of policyholders, subscribers, members and beneficiaries of guarantees. The…
No provision or stipulation may be invoked against the collège de résolution, the application of which would have the effect of hindering a resolution measure. In particular, the collège de résolution is exempt from the obligation to obtain the authorisation or agreement of any French public authority or any private person that the planned transaction would have required if it had been carried out outside a resolution procedure. Private persons…
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call us at +33 (0) 1 84 88 31 00 or send us an email.
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
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
Resources
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
Useful links
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call +33 (0) 1 84 88 31 00 or send us an email.
All information exchanged through this website will be communicated to lawyers registered with a French Bar and will remain confidential.
