French Insurance Code
In forceI.-The resolution college may require a person referred to in Article L. 311-1 who has been the subject of a transfer provided for in 3° or 4° of Article L. 311-30, Article L. 311-35 or Article L. 311-41 and the acquirer to exchange information or provide assistance to each other for the purposes of the transfer.
In order for these transfers to be effective, the resolution college may require the person subject to a resolution procedure, or any entity of the group to which it belongs, to provide the acquirer with the services or infrastructures it requires, excluding any form of financial support.
The collège de résolution shall also take any measures necessary to ensure the continuity of the rights and commitments associated with the transferred business. The purpose of these provisions is in particular to ensure that the acquirer replaces the person concerned in any legal proceedings relating to an element that it has acquired.
II - Where compulsory liquidation proceedings are opened or ordered pursuant to Chapter VI of Title II of Book III of this Code, Section 3 of Chapter II of Title I of Book II of the Mutual Code and Section 5 of Chapter 1 of Title 3 of Book 9 of the Social Security Code in respect of a person subject to a resolution procedure, the takeover offers are submitted to the Resolution College for approval. The latter ensures that these offers provide, where applicable, for the maintenance of the services or infrastructures mentioned in the second paragraph of I. In the event of a request for a substantial change in the objectives and means of the asset disposal plan, the resolution college shall, at the request of the transferee, give its opinion to the same effect before the court gives its decision.
