Subsection 7: Banking and payment services intermediaries

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

II. - For the application of I:
1° The words: "an insurance undertaking as part of its lending activities", the words: "insurance undertakings as part of its lending activities", the words: "to the insurance undertaking as part of its lending activities" and the words: "insurance undertakings" are deleted;
2° The provisions relating to professional associations are governed by the equivalent locally applicable provisions having the same purpose;
3° The references to the register mentioned in I of Article L. 546-1 are replaced by references to the register provided for by locally applicable provisions having the same purpose.
III. - For the application of the aforementioned articles:
1° In articles R. 519-4, R. 519-10, R. 519-15-1 and R. 519-26, the definitions mentioned in article L. 313-1 of the French Consumer Code are replaced by the following definition:
"For the purposes of this article, property credit agreements include credit agreements secured by a mortgage, by another comparable surety, or by a right attached to a residential property and credit agreements intended to enable the acquisition or maintenance of property rights over land or an existing or future building. "
2° In 4° of the first paragraph of Article R. 519-4, the words "as well as the persons mentioned in III operating under the freedom to provide services and the freedom of establishment on French territory" are deleted;
3° In Articles R. 519-5, R. 519-15, R. 519-15-1 and R. 519-26, the words "au I et au III de l'article R. 519-4" are replaced by the words "au I de l'article R. 519-4";
4° Au 1° de l'article R. 519-8, the words: "a level II diploma awarded on completion of higher education" are replaced by the words: "a level II professional qualification registered in the national register of professional qualifications or in an equivalent register established by New Caledonia";
5° In 1° of articles R. 519-9 and R. 519-10, the words: "d'un diplôme sanctionant un premier cycle d'études supérieures d'un niveau de formation III" are replaced by the words: "d'une certification professionnelle de niveau III enregistrée au répertoire national des certifications professionnelles ou sur un registre équivalent établi par la Nouvelle Calédonie";
6° In article R. 519-11:
a) The second sentence is worded as follows: "It is registered in the National Vocational Certification Register or in an equivalent register established by New Caledonia and comes under a training nomenclature specified by an order of the Minister for the Economy";
b) The words: "mentioned in article R. 335-12 of the Education Code" and the words: "mentioned in article R. 314-51 of the Education Code" are deleted;
7° In article R. 519-12, the words: "by the organisations representing the profession and approved by order of the Minister for the Economy" are replaced by the words: "by New Caledonia";
8° In article R. 519-14, the words: "as well as R. 519-11-1 and R. 519-11-2" are deleted;
9° In the second paragraph of article R. 519-15, the words: "mentioned in articles L. 6221-1 and L. 6325-1 of the Labour Code" are deleted;
10° In article R. 519-17, references to compulsory liquidation procedures are replaced by references to equivalent procedures applicable locally with the same purpose;
11° In articles R. 519-44, R. 519-54 and R. 519-62, references to the body mentioned in article L. 512-1 of the Insurance Code are replaced by locally applicable provisions having the same purpose;
12° In article R. 519-49, the reference to article L. 513-5 of the Insurance Code is deleted;
13° In article R. 519-51, the reference to the register mentioned in article L. 512-1 of the Insurance Code is replaced by the reference to the register provided for by locally applicable provisions having the same purpose;
14° In article R. 519-54, the words "or under Article R. 513-23 of the Insurance Code" are deleted;
15° In Article R. 519-56, after the reference to "L. 519-11", the words "with the exception of the second paragraph of I," are inserted.