French Commercial code
In forceI.-Any commercial company that is neither a micro-enterprise, within the meaning of Article L. 123-16-1, nor a small business, within the meaning of Article L. 123-16, and which is controlled, within the meaning of II or III of Article L. 233-16, by a company which does not have its registered office in a Member State of the European Union or another State party to the Agreement on the European Economic Area, shall publish and make available, at the request of the Board of Directors, the Management Board or the Executive Chairmen, the report relating to the tax on profits provided for in Article L. 233-28-1.
The first paragraph also applies to any commercial company which is controlled, within the meaning of II or III of Article L. 233-16, by a company which does not have its registered office in a Member State of the European Union or another State party to the Agreement on the European Economic Area, and which has no other purpose than to evade the application of this Article.
II.-Any company which is included in the consolidated accounts of a company which does not have a registered office in a Member State of the European Union or another State party to the Agreement on the European Economic Area and which has a branch in France whose turnover exceeds, at the close of two consecutive financial years, the threshold mentioned in I of Article L. 232-6-1, shall publish and make available, at the request of the company's legal representative in France or the person with authority to bind it there, the report relating to income tax provided for in Article L. 233-28-1.
The first paragraph also applies to any company which is included in the consolidated accounts of a company which does not have a registered office in a Member State of the European Union or another State party to the Agreement on the European Economic Area, from which a branch in France emanates and which has no other purpose than to evade the application of this article.
III.-The companies not having a registered office in a Member State of the European Union or another State party to the Agreement on the European Economic Area mentioned in I and II are those which meet the following cumulative conditions:
1° They have a legal form comparable to joint stock companies and limited liability companies;
2° They have consolidated sales which exceed, at the close of two consecutive financial years, the threshold mentioned in I of Article L. 232-6;
3° They are not controlled by another company, within the meaning of II or III of Article L. 233-16;
4° They draw up consolidated accounts in which the assets, liabilities, shareholders' equity, income and expenses are presented as those of a single economic entity, of the largest group of companies.
IV.-For the financial year in question, the report covers all the activities of the companies mentioned in III and the controlled companies, within the meaning of II or III of Article L. 233-16, included in the consolidation.
V.-The provisions of III of Article L. 232-6-1 apply to the companies referred to in I and to the legal representatives in France of the companies referred to in II or to the persons with authority to bind them in France, as the case may be, with regard to the report or information required under IV.
VI.-For sociétés en nom collectif and sociétés en commandite simple, I applies only to those where all the partners with unlimited liability are sociétés par actions, sociétés à responsabilité limitée or foreign companies with a comparable legal form.
The obligation provided for in II does not apply:
if the company has its registered office in a Member State of the European Union or another State party to the Agreement on the European Economic Area, has a legal form that is not comparable to a joint stock company or a limited liability company, or is not controlled, within the meaning of II or III of article L. 233-16, by a company that fulfils the conditions of article L. 233-16. 233-16, by a company meeting the conditions set out in III of this article;
if a company meeting the conditions set out in III controls, in a Member State of the European Union or another State party to the Agreement on the European Economic Area, a company that is neither a micro-enterprise, within the meaning of Article L. 123-16-1, nor a small business, within the meaning of Article L. 123-16.
VII.-Information the disclosure of which would be seriously prejudicial to the commercial position of the companies to which it relates may be omitted from the report mentioned in I, on a temporary basis, under conditions set by decree in the Conseil d'Etat.
