French Insurance Code
In forceI.-Any insurance or reinsurance intermediary or any insurance intermediary on an ancillary basis registered in France who intends to establish a branch or a permanent presence on the territory of another Member State under the freedom of establishment regime shall inform the body that keeps the register mentioned in I of article L. 512-1 and provides it with the following information:
1° His name, address and registration number;
2° The Member State in whose territory he intends to establish a branch or maintain a permanent presence in another legal form;
3° Among the categories of intermediaries, the category under which he intends to operate and, where applicable, the name of any insurance or reinsurance undertaking he represents;
4° The classes of insurance concerned, if applicable;
5° The address, in the host Member State, for all correspondence concerning the provision of documents;
6° The name of any person responsible for the management of the branch or permanent presence.
II.Unless the body that keeps the register referred to in I of Article L. 512-1 has reason to doubt the suitability of the organisational structure or financial situation of the insurance or reinsurance intermediary or the incidental insurance intermediary for the distribution activities envisaged, it shall, within one month of receipt, forward the information referred to in I to the competent authority of the host Member State, which shall acknowledge receipt thereof. This body shall inform the insurance or reinsurance intermediary or the incidental insurance intermediary in writing that the competent authority of the host Member State has received this information.
Within one month of receiving this information, the body that keeps the register referred to in I of Article L. 512-1 shall receive notification from the competent authority of the host Member State of the provisions of general interest applicable in that State. This body shall communicate this information to the intermediary and inform him that he may commence business in the host Member State, provided that he complies with these provisions. If the insurance or reinsurance intermediary or the incidental insurance intermediary has not received this information by the end of the aforementioned period, he may establish the branch and commence business.
III. -Where the body that keeps the register referred to in I of Article L. 512-1 refuses to send the information referred to in I to the competent authority of the host Member State, it shall inform the insurance or reinsurance intermediary or the incidental insurance intermediary of the reasons for its refusal within one month of receiving all the information referred to in I.
IV. - In the event of a change in one of the entities referred to in I, the competent authority of the host Member State shall inform the insurance or reinsurance intermediary or the incidental insurance intermediary of the reasons for its refusal.In the event of a change in one of the items of information communicated in accordance with I, the insurance or reinsurance intermediary or the incidental insurance intermediary shall notify the body that keeps the register referred to in I of Article L. 512-1 in writing, at least one month before implementing the change. This body shall inform the competent authority of the host Member State of this change as soon as possible, and no later than one month from the date on which it received this information.
V.-The body that keeps the register referred to in I of Article L. 512-1 acknowledges receipt of the information referred to in I, which is sent to it by the competent authority of the home Member State of the insurance or reinsurance intermediary or of any insurance intermediary on an ancillary basis that plans to establish a branch or a permanent presence in France. Within one month of receiving this information, it shall inform the aforementioned authority of the provisions of general interest applicable in France.
