Subsection 3: Provisions specific to credit institutions, investment firms, finance companies, electronic money institutions and payment institutions

I.-The provisions of the articles mentioned in the left-hand column of the following table shall apply in French Polynesia, subject to the adaptations mentioned in II and III, in the wording indicated in the right-hand column of the same table:

II.For the application of I:
1° References to compulsory liquidation procedures are replaced by references to equivalent procedures applicable locally;
2° References to the European Commission, the Single Resolution Board, the European Insurance and Occupational Pensions Authority and the European Systemic Risk Board are not applicable;
3° References to the resolution authorities and administrative or judicial authorities of the other Member States of the European Union and to the European Union college of resolution authorities are not applicable;
4° References to Regulations (EU) No 593/2008 of 17 June 2008, No 1093/2010 of the European Parliament and of the Council of 24 November 2010 and No 806/2014 of the European Parliament and of the Council of 15 July 2014 are not applicable.
5° The references to Directives 2014/59/EU of 15 May 2014 and 2019/879/EU of 20 May 2019 of the European Parliament and of the Council with regard to the loss-absorption capacity and recapitalisation of credit institutions and investment firms shall not apply.
III. -For the application of the articles mentioned in the table above:
1° In the last paragraph of Article L. 613-29, the words: competent specialised commercial court are replaced by the words: mixed commercial court;
2° In Article L. 613-30-3, the references to Recommendation 2003/361/EC of 6 May 2003 of the European Commission are not applicable;
3° In 4° of Article L. 613-34-1, the reference to 4 of Article L. 511-21 is replaced by the reference to Article L. 722-2 and in 22°, the words: entities established in a third country are replaced by the words: entities established in a State other than France;
4° In the first paragraph of I of Article L. 613-40, the words: after consultation with the relevant competent authorities, including the competent authorities of the Member States, including those responsible for branches of significant importance, are deleted;
5° In Article L. 613-38:
a) the references to Articles L. 613-59, L. 613-59-1 and L. 632-13-1 are deleted;
b) In 6° of VI, the words: not provided for by Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 are replaced by the words: not provided for by this section;
6° In Article L. 613-40-2, the reference to Article L. 613-40-1 is deleted;
7° In the first paragraph of I of Article L. 613-41, the words: or on that of the Member States in which subsidiaries or branches of the group are established are deleted;
8° In III of Article L. 613-42, the words: on the other hand, on the European financial services market, on financial stability in the other Member States and in the Union as a whole are deleted;
9° The second paragraph of IX of Article L. 613-43 is replaced by the following provisions:
The resolution college shall notify the parent undertaking of the decisions taken pursuant to VI.;
10° In Article L. 613-44:
a) In 3° of II, the reference toArticle 13 of Law no. 85-695 of 11 July 1985 is replaced by a reference to locally applicable provisions having the same purpose;
b) 2° of III is worded as follows:
2° Parent undertakings that are not themselves resolution entities but subsidiaries of foreign entities;
11° In I and V of Article L. 613-46-1, the words: in the Union are deleted;
12° In Article L. 613-46-7, the references to Articles L. 613-37-1 and L. 613-46-6 are deleted;
13° In Article L. 613-50-7, the reference to Article L. 142-9 is deleted;
14° In the second paragraph of Article L. 613-55-6, the words: or a contract mentioned in sections 4 to 10 of section C of Annex I to Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 are deleted;
15° In Article L. 613-56-9, in I, the words: the law of a Member State are replaced by the words: French law and in II, the words: in the European Union are deleted;
16° The following paragraph is added to II of Article L. 613-58: 15° l'Institut d'émission d'outre-mer;
17° In II and VIII of Article L. 613-62, the references to Article L. 621-59-1 are deleted;
18° In b) of 2° of I of Article L. 613-62-1, the words: and that this credit institution or investment firm will not be subject within a reasonable period of time in the country where it is established to any of the measures mentioned in Article L. 613-31-2 are deleted.