Paragraph 3: Corporate mutual funds governed by article L. 214-165-1

Articles in this section · 10

R214-214-1R214-214-2R214-214-3R214-214-4R214-214-5R214-214-6R214-214-7R214-214-8R214-214-9R214-214-10

Article R214-214-8

French Monetary and Financial CodeIn force
Ask for lawyer reviewed or certified translation

Updated 6 Nov 2023

I.-For the application of 2° of III of article L. 214-165-1, the appraised value of the company is determined in accordance with the following procedures:

1° When the investment instruments of a company savings plan include the possibility of investing in securities of the company which are not admitted to trading on a trading platform of a State party to the agreement on the European Economic Area or on a trading platform of a third country recognised as equivalent, their valuation is determined in accordance with the methods defined in 2° of III of article L. 214-165-1, without prejudice to the specific legal provisions which set the conditions for determining the value of these securities; 2° Equity securities are valued by the company, under the supervision of the statutory auditor, in accordance with the methods defined in 2° of III of article L. 214-165-1. 214-165-1, without prejudice to specific legal provisions which set the conditions for determining the value of these securities;

2° Equity securities are valued by the company, under the supervision of the statutory auditor, at least once each financial year and each time that an event or series of events occurring during a financial year are likely to lead to a substantial change in the value of the company's equity securities.

In addition, an expert valuation is carried out at least every five years. This valuation is optional for the companies mentioned in the fifth paragraph of III of Article L. 214-165-1 whose securities are valued pursuant to the fourth paragraph of the same III.

II - The company informs the employees individually of this valuation value, its change compared to the last value communicated, the date of the next publication of the fund's net asset value, the contact details of the institution to which they can send their request to subscribe, redeem or arbitrate their assets, and the deadline by which they can send this request. The company will also inform the institution and the fund's supervisory board.

The company undertakes to provide the portfolio management company with the information referred to in the previous paragraph.

Mariela Petrova

Need help applying this article to your situation?

A registered French Lawyer explains what applies to your business — in English, fixed fee.

within 48h

Fixed Fee

Talk to a lawyer
Previous articleArticle R214-214-7Next articleArticle R214-214-9
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

English · French · Russian

Ready When You Are

Talk To A Corporate
Lawyer In France.

A 20–30 minute call, in English, to scope the engagement. No obligation, no preliminary fee. You will leave the call with a clear view of what the work will cover and what it will cost.

Talk To A Corporate Lawyer+33 1 84 88 31 00
First EngagementFixed Fee

Talk to a French lawyer.

Reply within 24 hours.

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

Continue Reading

Related corporate services in France

01 / Setup

Setting up a French company

Choose between SAS, SARL, SA or SCI — and structure your first French entity around how you actually plan to operate.

Read More
02 / Operating

French commercial contracts

Distribution, agency, supply, services and IP licences — drafted around the protections French law actually gives.

Read More
03 / Disputes

Business disputes & litigation

Shareholder conflicts, commercial breaches and pre-litigation strategy — handled by the same team that knows the file.

Read More