French Monetary and Financial Code
In forceThe products and services referred to in 2° of Article L. 561-9 are :
1° Life insurance or capitalisation contracts where the annual premium does not exceed €1,000 or where the single premium does not exceed €2,500;
2° Insurance contracts that do not relate to life and death or marriage and childbirth and are not linked to investment funds, do not fall within the scope of operations involving the formation of associations bringing together members with a view to pooling their contributions and distributing the assets thus accumulated either among the survivors or among the beneficiaries of the deceased, or do not fall within the scope of the capitalisation or management of collective funds or any collective operation defined in Section 1 of Chapter I of Title IV of Book IV of the Insurance Code;
3° Retirement insurance contracts that do not include a surrender clause cannot be used as a guarantee and are paid out as an annuity on retirement, such as those mentioned in articles L. 132-23, L. 143-1, L. 144-1, L. 144-2 and L. 441-1 of the Insurance Code, articles L. 222-1, L. 222-2 and L. 223-22 of the Mutual Code and articles L. 911-1, L. 932-1, L. 932-14 and L. 932-24 of the Social Security Code;
4° Loan insurance contracts referred to in article L. 113-12-2 of the French Insurance Code or the second paragraph ofarticle L. 221-10 of the French Mutual Code;
5° The financing of tangible or intangible assets for professional use where ownership is not transferred to the customer or can only be transferred on termination of the contractual relationship and where the financial rent does not exceed an annual average of 15,000 euros excluding tax over the term of the contract, whether the transaction is carried out in a single operation or in several operations that appear to be linked and provided that the repayment is made exclusively through an account opened in the customer's name with a person mentioned in 1° to 6° of article L. 561-2 established in a Member State of the European Union or in a State party to the Agreement on the European Economic Area;
6° The following credit transactions, provided that repayment is made exclusively from an account opened in the customer's name with a person referred to in 1° to 6° of Article L. 561-2 established in a Member State of the European Union or a State party to the Agreement on the European Economic Area:
a) Credit transactions governed by Chapter II of Title I of Book III of the French Consumer Code, provided that the amount does not exceed €1,000 ;
b) The credit transactions referred to in 5° of article L. 312-4 of the same code;
7° Sums paid into a company savings scheme pursuant to Book III of Part Three of the Labour Code, with the exception of voluntary payments by beneficiaries of an employee savings scheme referred to in article L. 3332-11 of the same code, when these payments exceed 8,000 euros or are not made from an account opened in the name of the beneficiary or his employer with a person mentioned in 1° to 6° of article L. 561-2 established in a Member State of the European Union or in a State party to the Agreement on the European Economic Area;
8° Sums paid into a collective retirement savings plan in application of Book III of Part Three of the Labour Code, with the exception of voluntary payments by beneficiaries of an employee savings plan mentioned in article L. 3332-11 of the same code, where these payments exceed 8,000 euros or are not made from an account opened in the name of the beneficiary or his employer with a person mentioned in 1° to 6° of article L. 561-2 established in a Member State of the European Union or in a State party to the Agreement on the European Economic Area;
9° Securities accounts for the purpose of benefiting from a reserved capital increase, bonus shares or share subscription or purchase options granted in accordance with Articles L. 225-177 to L. 225-186-1 of the Commercial Code, provided that they do not exceed a value of 15,000 euros;
10° The service referred to in 7° of II of Article L. 314-1;
11° Payments made in cash by a natural person to a payment service provider acting on behalf of the payee, for the following expenses and monthly amounts:
a) Rents of €600 or less due for social rental housing ;
b) Water bills of €200 or less;
c) Gas and electricity bills of €150 or less;
d) Telephone bills of €50 or less;
e) Supplementary health, home and car insurance premiums up to a total of €300;
f) Toll and public transport charges up to €50.
Without prejudice to the application of the provisions of article L. 112-6, a payment service provider may accept payments made for the expenses mentioned in a, b, c, e and f which exceed the ceilings set above if it ensures that the total amount of payments made by each natural person is less than or equal to €1,200 per month, including the expenses mentioned in d.
