Section 1: Provisions relating to the preparation, assessment and implementation of preventive recovery plans

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R311-1R311-2R311-3R311-4R311-5R311-6

Article R311-4

French Insurance CodeIn force
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Updated 7 Nov 2023

I.- Pursuant to the last paragraph of I of Article L. 311-5, the persons referred to in that same I who are subject to the obligation to draw up and keep up to date a preventive recovery plan may ask the supervisory board to be exempted from this obligation when they constitute entities of a group whose parent company is located abroad and which is itself subject to such an obligation by virtue of the requirements applicable to it. The college decides, in the light of the content of these requirements, whether or not to authorise the exemption. To this end, it shall assess whether the following conditions are met by the parent undertaking's plan communicated to it:

1° The plan includes at least the elements provided for in IV of Article L. 311-5;

2° The plan is updated with sufficient frequency and after any substantial change in the risk profile of the group or the aforementioned entity;

3° The plan takes sufficient account of the risks and specific features of the entity;

4° The plan is subject to approval by the administrative bodies of the group and of the group entity before it is adopted and each time it is amended;

5° The elements of the plan which have an impact on the aforementioned entity may be translated by the entity or the group at the request of the college of supervisors.

II - The supervisory board will decide on the request for exemption referred to in I within four months of receiving the complete file from the entity. This file shall include the following information:

1° The latest version of the group's preventive recovery plan;

2° The policy for updating the group's preventive recovery plan;

3° The system for approving updates to the group's preventive recovery plan by the administrative bodies of the group and of the group's entities.

III - If, after issuing the authorisation referred to in I, the supervisory board considers that at least one of the conditions set out in I is no longer satisfied, it shall inform the entity. The entity has two months in which to make its observations known. At the end of this period, the supervisory board may suspend the authorisation it had granted if it considers that at least one of the conditions set out in I is no longer met.

Mariela Petrova

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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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Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

Toque #C2396

15+ Years In Corporate Practice

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