I.-Subject to the provisions of article R. 1462-4, the following are subject to the prior opinion of the supervisory authority, in accordance with the conditions laid down by order of the ministers responsible for the economy and the budget, issued after obtaining the opinion of the supervisory authority:
1° Recruitment to management positions and to positions not covered by the remuneration system decided by the grouping’s Board of Directors;
2° Overdraft authorisations;
3° Borrowings;
4° Loans or guarantees;
5° Contracts, markets and leases requiring the use of a formalised procedure due to their value;
6° Subsidy agreements exceeding a certain amount;
7° Transactions, when they are not decided by the Board of Directors.
II.The supervisory authority shall give its opinion within fifteen days of the date of receipt of the draft acts or decisions accompanied by the supporting documents. If it requests additional information or documents, this period is interrupted until receipt of these items.
If there is no response by the end of the period, the opinion is deemed to be favourable.
If the Director does not comply with the opinion, he shall state the reasons in writing, within fifteen days of his decision, to the supervisory authority, which shall inform the ministers responsible for the economy and the budget.