MONETARY AND FINANCIAL CODE
(Legislative Part)Section 3: Operating rules Article L612-4
(Law n ° 2001-420 of May 15, 2001 art. 22 Official Journal of May 16, 2001)
In the event of a tie-vote, the president’s vote is decisive.
In the event of urgency declared by its chairman, the Committee may take a decision by written consultation on a proposal for a decision.
The committee may delegate to its chairman the power to take decisions or to grant individual authorizations or exemptions. However, in matters of authorization, withdrawal of authorization or effective change of control of a subject establishment, the delegation can only be granted for transactions submitted to the committee falling within the scope of the provisions provided for in the last paragraph of l article L. 511-31 and article L. 613-25.
A Council of State decree specifies the conditions of application of this article, in particular the majority and quorum rules which govern the deliberations of the committee and the methods of the written consultation provided for in the second paragraph.
The committee draws up its rules of procedure, which are published in the Official Journal. This text fixes the modalities of instruction and examination of the files presented for the deliberation of the committee, and in particular the conditions under which it can hear any interested person able to clarify its decision.Article L612-5
The Director of the Treasury may request the adjournment of any decision of the committee. In this case, the president calls for a second deliberation in good time.
Article L612-6
(Law n ° 2001-420 of May 15, 2001 art. 21 Official Journal of May 16, 2001)
(Law nº 2003-706 of August 1, 2003 art. 73 3º Official Journal of August 2, 2003)
(Ordinance n ° 2004-1201 of November 12, 2004 art. 10 Official Journal of November 16, 2004)
Anyone who participates or has participated in the deliberations or activities of the Committee on Credit Institutions and Investment Firms is bound by professional secrecy. This secrecy is not opposable to the judicial authority acting within the framework of either a judicial liquidation procedure opened with regard to a credit institution, an investment firm or a financial company, or criminal proceedings.
This secrecy is not opposable to the administrative courts seized of a dispute relating to the activity of the committee of credit institutions and investment firms.
By way of derogation from the provisions of law n ° 68-678 of July 26, 1968 relating to the communication of documents and information of an economic, commercial, industrial, financial or technical nature to natural or legal persons, the committee of credit institutions and investment firms may transmit information to the authorities responsible, in other States, for the authorization or supervision of credit institutions, investment firms, financial institutions and insurance organizations, subject to reciprocity and on condition that these authorities are themselves subject to professional secrecy with the same guarantees as in France. These authorities, when they are those of a Member State or of another State party to the Agreement on the European Economic Area, are deemed to meet these conditions. The Commission of the European Communities may also be the recipient of this information, within the limit of what is necessary for the performance of the missions entrusted to it, and provided that the recipients are subject to professional secrecy with the same guarantees as in France.
By way of derogation from the legislative and regulatory provisions governing professional secrecy, the Committee of Credit Institutions and Investment Firms may, with the prior consent of the natural or legal person having sent it documents for the examination of the file concerning it, communicate some of the said documents to any interested natural or legal person who requests it.
NOTE: Ordinance 2004-1201 art. 20: “The provisions of this ordinance are applicable, for the first time, to the supervision of the accounts for the financial year beginning on January 1, 2005 or during this year”.
Article L612-6
(Law n ° 2001-420 of May 15, 2001 art. 21 Official Journal of May 16, 2001)
(Law nº 2003-706 of August 1, 2003 art. 73 3º Official Journal of August 2, 2003)
(Ordinance n ° 2004-1201 of November 12, 2004 art. 10 Official Journal of November 16, 2004)
(Ordinance n ° 2007-544 of April 12, 2007 art. 5 Official Journal of April 13, 2007 in force on November 1, 2007)
Anyone who participates or has participated in the deliberations or activities of the Committee on Credit Institutions and Investment Firms is bound by professional secrecy. This secrecy is not opposable to the judicial authority acting within the framework of either a judicial liquidation procedure opened with regard to a credit institution, an investment firm or a financial company, or criminal proceedings.
By way of derogation from the provisions of law n ° 68-678 of July 26, 1968 relating to the communication of documents and information of an economic, commercial, industrial, financial or technical nature to natural or legal persons, the committee of credit institutions and investment firms may transmit information to the authorities responsible, in other States, for the authorization or supervision of credit institutions, investment firms, financial institutions and insurance organizations, subject to reciprocity and on condition that these authorities are themselves subject to professional secrecy with the same guarantees as in France. These authorities, when they are those of a Member State or of another State party to the Agreement on the European Economic Area, are deemed to meet these conditions. The Commission of the European Communities may also be the recipient of this information, within the limit of what is necessary for the performance of the missions entrusted to it, and provided that the recipients are subject to professional secrecy with the same guarantees as in France.
By way of derogation from the legislative and regulatory provisions governing professional secrecy, the Committee of Credit Institutions and Investment Firms may, with the prior consent of the natural or legal person having sent it documents for the examination of the file concerning it, communicate some of the said documents to any interested natural or legal person who requests it.
NOTE: Ordinance 2004-1201 art. 20: “The provisions of this ordinance are applicable, for the first time, to the supervision of the accounts for the financial year beginning on January 1, 2005 or during this year”.
Article L612-7The decisions of the committee of credit institutions and investment firms must be reasoned. |