French Monetary and Financial Code
In forceI. - The term of office of the principal and alternate Specific Auditors expires after the submission of the report and certified statements drawn up at the end of the fourth financial year following their appointment. They may be reappointed. When they wish to renew the term of office of these auditors, the directors of the société de crédit foncier shall submit their proposal to the Autorité de contrôle prudentiel et de résolution at least three months before the end of the fourth financial year following the appointment of these auditors.
II. - The specific auditor appointed to replace the auditor whose duties have ended before their normal term of office completes the term of office of the auditor he replaces.
III. - The provisions of Article R. 823-5 of the Commercial Code are applicable to the Specific Controller. The request for recusal of the Specific Controller is made by registered letter with acknowledgement of receipt when it comes from the Autorité de contrôle prudentiel et de résolution.
IV. - The Specific Controller shall certify compliance with the rule provided for in Article L. 513-12 on the basis of a quarterly programme of issues of resources benefiting from the privilege referred to in Article L. 513-11. He shall certify compliance with this same rule for all issues of resources benefiting from this privilege and whose unit value is equal to or greater than 500 million euros, or its equivalent in the monetary unit of the issue.
