Subsection 3: Conditions for admission to the profession

I.-Subject to the provisions of II, the articles listed in the left-hand column of the table below shall apply in French Polynesia in the wording indicated in the right-hand column of the same table:

II.-For the application of I:

1° In Article L. 532-1 :

a) In the second sentence of the last paragraph of I, the words: "either have been authorised in another Member State of the European Union or party to the Agreement on the European Economic Area, or are not governed by the law of one of these States" are replaced by the words: "have been authorised in a State other than France" ;

b) (Repealed) ;

c) (Repealed) ;

d) (Repealed);
2° In articles L. 532-6 and L. 532-11, the words: By way of derogation from the provisions of 4° and 5° of article 1844-7 of the Civil Code are deleted;
3° In article L. 532-30, the first two paragraphs are worded as follows:
An AIF manager established in a third country wishing to manage AIFs in French Polynesia or to market in French Polynesia the units or shares of AIFs it manages must first obtain authorisation from the Autorité des marchés financiers.
An AIF established in a third country, which has not globally delegated its management and which wishes to market its units or shares in French Polynesia shall apply the provisions relating to managers;
4° In Article L. 532-31, the words: marketed in the European Union are deleted;
5° In Article L. 532-32, the first paragraph reads as follows:
The manager referred to in Article L. 532-20 shall have a legal representative in France. All official correspondence between the competent authorities and the AIFM and between the unitholders or shareholders of the AIF concerned, in accordance with this section, shall take place through this legal representative;
6° The first paragraph of Article L. 532-34 reads as follows:
After receiving the application for authorisation referred to in Article L. 532-30, the Autorité des marchés financiers shall examine whether the application complies with the criteria laid down by decree of the Conseil d'Etat.
If the Autorité des marchés financiers considers that the criteria for authorisation of the AIFM are not met, it shall refuse the application for authorisation in a reasoned decision.
7° Article L. 532-41 reads as follows:
Any dispute arising between the Autorité des marchés financiers and the AIFM established in a third country referred to in Article L. 532-30 shall be subject to the jurisdiction of the French courts;
8° In Article L. 532-45, the words: at the request of the European Securities and Markets Authority are deleted;
9° In Article L. 532-46, the references to Articles L. 214-24-1, L. 532-21-3 and L. 532-25-1 are deleted;
10° In Articles L. 532-48 and L. 532-49, the words: in mainland France, Guadeloupe, French Guiana, Martinique, Reunion Island, Mayotte and Saint-Martin are replaced by the words: in France;
11° In Article L. 532-48, the reference to European Union law is replaced by the reference to French law;
12° In II of Article L. 532-50, the reference: L. 420-18 is replaced by the reference: L. 420-17 .