French Monetary and Financial Code
In forceI.-The conditions mentioned in II of article L. 151-3 are primarily intended, in accordance with the principle of proportionality, to :
1° Ensure the continuity and security, on national territory, of the activities listed in Article R. 151-3 carried out by the entity that is the subject of the investment, in particular by ensuring that these activities are not subject to the legislation of a foreign State likely to hinder them, as well as the protection of information relating to them;
2° To ensure the maintenance of the knowledge and know-how of the entity that is the subject of the investment and to hinder their capture;
3° Adapt the terms of internal organisation and governance of the entity, as well as the terms for exercising the rights acquired in the entity as a result of the investment;
4° Set the terms for informing the administrative authority responsible for control.
To this end, the Minister may, in particular, make his authorisation conditional upon the transfer of part of the shares acquired in the capital of the entity that is the subject of the investment or of all or part of a branch of activity listed in Article R. 151-3 carried on by the entity that is the subject of the investment to an entity that is separate from the investor and approved by the Minister.
II - Where the investment authorisation is subject to conditions, it shall designate, from among the investors, within the meaning of II of Article R. 151-1, on whose behalf the authorisation has been requested, the investor or investors responsible for compliance with these conditions.
