Subsection 1: Common provisions

Articles in this section · 1

Article L762-3

French Monetary and Financial CodeIn force

Updated 6 Nov 2023

I.-The provisions of the articles mentioned in the left-hand column of the following table shall apply in New Caledonia, subject to the adaptations mentioned in II and III, in the wording indicated in the right-hand column of the same table:

Applicable articles In their wording resulting from
L. 420-1 Order no. 2017-1107 of 22 June 2017
L. 420-2 Order 2016-827 of 23 June 2016
L. 420-3 to L. 420-5 Order no. 2017-1107 of 22 June 2017
L. 420-6 and L. 420-7 Order no. 2016-827 of 23 June 2016
L. 420-8 Order no. 2021-796 of 23 June 2021
L. 420-9 Order 2016-827 of 23 June 2016
L. 420-10 with the exception of II Order no. 2017 1107 of 22 June 2017
L. 420-11 with the exception of V Order 2021-1652 of 15 December 2021
L. 420-12 with the exception of its last two paragraphs Order 2016-827 of 23 June 2016
L. 420-14 Order 2021-1652 of 15 December 2021
L. 420-15 with the exception of its last paragraph Order 2016-827 of 23 June 2016
L. 420-16 with the exception of 3° and 5° of IV and L. 420-17Order 2021-1652 of 15 December 2021.

II.-For the application of I:

1° References to the units mentioned in the article L. 229-7 du code de l'environnement are not applicable;

2° Behaviour prohibited under EU Regulation No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse, are:

a) Insider dealing, defined as the use by a person, for his own account or for the account of third parties, of inside information not yet made public ;

b) Market manipulation, defined as carrying out a transaction with the intention of providing misleading or false information.

III - For the application of the articles mentioned in the table above :

1° In the third paragraph of II of Article L. 420-3, the words: "by applying the provisions of Commission Delegated Regulation (EU) 2017/570 of 26 May 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments" are deleted ;

2° In Article L. 420-5, the words "in accordance with the provisions of Commission Delegated Regulation (EU) 2017/573 of 6 June 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments by technical regulatory standards as regards requirements to ensure that collocation services and fee structures are fair and non-discriminatory" are deleted ;

3° In I of Article L. 420-8, the words "in accordance with the provisions of Commission Delegated Regulation (EU) 2017/588 of 14 July 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments by technical regulatory standards concerning the non-listing regime for shares, depositary receipts and listed funds" are deleted ;

4° In Article L. 420-11, references to European Union law are replaced by references to the regulations mentioned in Article L. 712-7 and references to the calculation methodologies set out in the technical standards adopted by the European Commission are replaced by references to the calculation methodologies used in mainland France.

Mariela Petrova

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Common Questions

Working with a corporate lawyer in France — Q&A

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.

Yes — most of our clients are foreign suppliers, investors or holding entities. We bridge the gap between French law and your home jurisdiction's expectations and deliver everything bilingually.

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.

Yes — communications with a French avocat are protected by the secret professionnel (Article 66-5 of the Law of 31 December 1971). This protection is broader than the common-law attorney-client privilege and applies to written and oral exchanges.

We work on fixed fees for clearly scoped engagements (incorporation, contract drafting, audits) and on monthly retainers for ongoing advisory. Hourly billing is the exception, not the default. You always know the cost before work starts.

Typical timeline is 2–3 weeks from KYC kick-off to RCS registration, assuming standard documentation. Holding-company structures, foreign-shareholder identification or in-kind contributions can extend this — we flag the gating items at the first meeting.

Absolutely. We routinely coordinate with your in-house counsel, expert-comptable or notaire — pragmatic collaboration is the norm, not the exception. We send them everything they need to do their part without duplicating work.

Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

Toque #C2396

15+ Years In Corporate Practice

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Communications protected by professional secrecy — secret professionnel de l'avocat, Article 66-5 of the Law of 31 December 1971.

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