Sub-paragraph 6: Provisions relating to the implementation of an internal bail-out measure

Articles in this section · 14

L613-55L613-55-1L613-55-2L613-55-3L613-55-4L613-55-5L613-55-6L613-55-7L613-55-8L613-55-9L613-55-10L613-55-11L613-55-12L613-55-13

Article L613-55-8

French Monetary and Financial CodeIn force
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Updated 7 Nov 2023

I. - In the month following the implementation of an internal bailout measure in respect of a person mentioned in I of Article L. 613-34 for the purposes indicated in 1° of I of Article L. 613-55, the persons mentioned in Article L. 511-13 or in 4 of Article L. 532-2, after deliberation by their board of directors, their supervisory board or any other body exercising equivalent supervisory functions, or the persons appointed pursuant to Article L. 613-51-1 shall draw up and submit to the resolution college for approval a plan for reorganising the activities of the person in question.

This reorganisation plan shall define, in accordance with the objectives and guidelines adopted by the resolution college, measures intended to restore the long-term viability of this person or part of its activities within a reasonable timeframe.

This plan must be compatible, where applicable, with the restructuring plan drawn up in the context of the implementation of the Union's legal regime on State aid.

II. - Within one month of the implementation of an internal bail-out measure, under the conditions mentioned in 1° of I of Article L. 613-55, in respect of two or more entities in the same group, the parent undertaking shall draw up and submit for the approval of the resolution college, in its capacity as resolution authority on a consolidated basis, a plan for the reorganisation of the activities of all the credit institutions and investment firms in the group.

Within fourteen days of the submission of the business reorganisation plan to the resolution college, the resolution college shall submit an assessment of the business reorganisation plan to the Single Resolution Board. When instructed to do so by the Single Resolution Board, the resolution college shall notify the persons referred to in Article L. 511-13 or Article L. 532-2(4) or the person(s) appointed pursuant to Article L. 613-51-1 of the elements of the plan that need to be amended. Within fourteen days from the date of receipt of this notification, the persons referred to in Article L. 511-13 or Article L. 532-2(4) or the person(s) appointed pursuant to Article L. 613-51-1 shall submit an amended plan to the resolution college for approval.

The resolution college shall communicate the business reorganisation plan to the resolution authorities of the parent undertaking's subsidiaries and to the European Banking Authority.

III. - In exceptional circumstances, the one-month period referred to in I and II may be extended by a maximum of two months.

Mariela Petrova

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Any time a strategic decision changes how the company is owned, governed or contractually bound — incorporation, fundraising, M&A, restructuring, shareholder agreements, or major commercial contracts. Earlier engagement always costs less than later remediation.

A notary (notaire) is a public officer who authenticates specific deeds (mainly real-estate transfers and certain family-law acts). A corporate lawyer (avocat) advises on strategy, negotiates and drafts company documents, and represents you in disputes. The two roles complement rather than overlap.

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The SAS (Société par Actions Simplifiée) is the default choice for most international structures: flexible governance, single shareholder allowed, no minimum capital, and works cleanly with foreign holding entities. We assess SARL, SA, SCI on the merits when the situation calls for it.

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Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

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15+ Years In Corporate Practice

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