French Monetary and Financial Code
In forceI.- Each year, the Government sends the chairmen of the committees responsible for economic affairs and the general rapporteurs of the committees responsible for finance of each assembly a report on the Government's action to protect and promote the nation's economic, industrial and scientific interests, as well as to control foreign investment under the procedure provided for in article L. 151-3. This report includes :
1° A description of the Government's action to protect and promote the nation's economic, industrial and scientific interests, in particular the measures taken to ensure economic security and protect strategic companies, the objectives pursued, the actions taken and the results obtained;
2° Information relating to the procedure for prior authorisation of foreign investments in a business in France, including in particular details of the number of applications for prior authorisation submitted to the Minister for the Economy, refusals to grant authorisation, transactions authorised, transactions authorised subject to the conditions provided for in II of the same Article L. 151-3, as well as information relating to the exercise by the Minister of the power to impose penalties provided for in the said Article L. 151-3, with the exception of information enabling the identification of natural or legal persons concerned by the prior authorisation procedure for foreign investments in a business in France.
II.-The chairmen of the committees responsible for economic affairs and the general rapporteurs of the finance committees of each assembly may jointly:
1° Hear the competent ministers, the Commissioner for Strategic Information and Economic Security and the directors of the central administrations concerned, accompanied by the staff of their choice, in their respective areas of competence. These exchanges, which are not made public, may concern information enabling the identification of natural or legal persons subject to the prior authorisation procedure for foreign investments provided for in Article L. 151-3;
2° Carry out any investigations, on documents and on site, into the Government's action in protecting and promoting the economic, industrial and scientific interests of the Nation, as well as in controlling foreign investment in France. These investigations may not concern investments that may be the subject of decisions by the Minister for the Economy. All information and administrative documents requested in the context of these investigations, including any report drawn up by the bodies and departments responsible for monitoring the administration, must be provided to them, subject to information and documents protected by national defence secrecy.
The exercise of the powers referred to in 1° and 2° shall give rise to a public statement by each chairman and each general rapporteur to his committee, which may be accompanied by the publication of a report. This communication and, where applicable, this report may not include any information or assessment element that would enable the identification of the natural or legal persons subject to the prior authorisation procedure provided for in Article L. 151-3.
As part of their work, the chairmen and general rapporteurs mentioned in the first paragraph of this II may jointly address recommendations and observations to the President of the Republic, the Prime Minister and the competent ministers. They shall forward them to the President of the Senate and the President of the National Assembly.
Each committee chairman and each general rapporteur referred to in the first paragraph of this II may delegate to a member of his committee the powers and responsibilities provided for in I and this II. In such a case, the chairman of the committee or the general rapporteur shall continue to receive the report provided for in I.
