French Commercial code
In forceTYPICAL CLAUSES REQUIRED IN THE AGREEMENT BETWEEN THE REGISTRAR OF THE COMMERCIAL COURTS AND THE CAISSE DES DÉPÔTS ET CONSIGNATIONS
BETWEEN:
The Caisse des dépôts et consignations
And
The registrar of the commercial court of.... (legal form, name, registered office, RCS),
hereinafter referred to as the Registrar,
it is agreed as follows:
Article 1: Opening of the assigned account
A mandatory deposit account assigned to each of the categories of funds mentioned in Article R. 743-178 of the Commercial Code is opened in the records of the Caisse des dépôts et consignations in favour of the Registrar pursuant to the provisions of Articles L. 743-14 and R. 743-178 et seq. of the Commercial Code.
Each account is intended to record sums held by the registrar on behalf of third parties and falling within categories set by Article R. 743-178.
There may be only one account for each of the categories of funds listed in Article R. 743-178.
The CDC is responsible for informing the Conseil national des greffiers des tribunaux de commerce, whose registered office is at 29, rue Danielle-Casanova, 75001 Paris, without delay of the opening of the accounts.
Article 2: Account identification and title
Each account is identified as follows:
- the account holder: clerk of the commercial court of followed by the company name of the office;
- the title of the account according to the category of funds:
- assigned account, article L. 743-14, expertise;
- assigned account, article L. 3253-15, AGS;
- assigned account, article L. 743-14, sequestration business....
Article 3: Specific features of the earmarked account
An earmarked account may under no circumstances be the subject of a merger, set-off or pledge agreement and, more generally, the opening of real or personal rights in favour of anyone.
Article 4: Escrow operations
Funds received by the clerk of the commercial court in his capacity as escrow agent, after having been paid into the assigned account, and financial instruments remitted to him in the same capacity may be the subject of the opening of a specific investment account, with a view to the financial investments necessary for the proper management of the funds concerned, in accordance with the regulations in force.
This investment account has no means of payment. The sums entrusted to the clerk that have been the subject of a financial investment, where applicable increased by the proceeds of the investment, must obligatorily pass through the assigned account before being paid back to the principal.
Article 5: Operation of the account
A mandatory deposit account may not give rise to cash withdrawals, the provision of payment or credit cards or direct debit authorisations.
The holder of a mandatory deposit account may, by express order, make transfers to other accounts as part of the performance of the duties entrusted to him.
Article 6: Power of attorney
The account holder has the option of giving one or more authorised persons who must be employees the power to carry out all transactions on the account on his behalf and under his full responsibility.
Article 7: Account charges and remuneration
Any charges due to CDC in respect of the operation of the allocated account may under no circumstances be deducted from the assets in the said account. Interest obtained in respect of provisions for legal expertise shall be paid to the office holding the account without passing through the account.
Article 8: Changes to and closure of the account
When an account holder withdraws or a new account holder is appointed within the office, the interested party must immediately inform the banking establishment, which must change the account name accordingly
Allocated accounts may only be closed in the event of the office being wound up or a decision being taken by the establishment holding the account under the conditions of article L. 312-1, paragraph 7, of the Monetary and Financial Code.
In the latter case, the institution must transfer, at the Office's request, the accounting balance of the allocated accounts to its successor, on proof from the latter that a new agreement has been signed. CDC must inform the Conseil national des greffiers des tribunaux de commerce, in accordance with the stipulations of Article 1 of this agreement.
Article 9: Substitution or administration of the office
In the event that the office is placed under the regime of substitution or administration, this agreement may be invoked against the substitute or administrator, until the end of the substitution or administration.
The institution is then required to add to the title of the assigned accounts the words: office under the substitution of Mr X or office under the administration of Mr X.
