French Monetary and Financial Code
In forceI. - In addition to its Chairman, the Agency's Board of Directors comprises seventeen members, appointed as follows:
1° Five members representing the State, including :
a) Two members appointed by decree on the report of the Minister for the Economy ;
b) Two members appointed by decree on the report of the Minister for Cooperation; and
c) One member appointed by decree on the report of the Minister for Overseas France;
d) (Repealed) ;
2° Four members appointed for their knowledge of economic and financial issues, appointed by decree on the report of the Minister for the Economy, the Minister for Cooperation and the Minister for Overseas France;
3° One member appointed for his knowledge of ecology and sustainable development, appointed by decree on the report of the Minister for Ecology and Sustainable Development;
4° One member appointed for his or her knowledge of migration issues, appointed by decree on the report of the Minister for Immigration;
5° The two Members of Parliament and the two Senators provided for in Article L. 515-13;
6° Two members representing the staff and elected under the conditions laid down by a regulation issued by the Managing Director.
Each member of the Board of Directors is replaced in the event of absence or impediment by an alternate appointed under the same conditions as the full member.
II. - The Chairman of the Board of Directors is appointed by decree on the report of the Minister for the Economy, the Minister for Cooperation, the Minister for Overseas France and the Minister for Immigration. The age limit applicable to the Chairman of the Board of Directors is 70.
The Chairman has a casting vote in the event of a tie.
In the event of absence or impediment, the Chairman is replaced by the oldest of the six members representing the State.
III. - The term of office for members of the Board of Directors is three years.
However, the term of office of Members of Parliament on the Board of Directors automatically ends on expiry of the elective mandate for which they were appointed.
If the seat of a member of the Board of Directors representing staff falls vacant, his or her alternate will hold office for the remainder of the original term.
IV. - The term of office of the members of the Board of Directors is free of charge.
However, the Chairman of the Board of Directors receives an expense allowance, the amount of which is set by joint order of the Ministers for the Economy, Cooperation and Overseas Territories.
