French Monetary and Financial Code
In forceI. - The College shall meet when convened by its Chairman or at the request of half of its members. If the Chairman is absent, he shall appoint one of the other members of the College to chair the meeting. The College may only deliberate if at least half of its members are present. A member who does not take part in a deliberation or who abstains from sitting pursuant to article 12 of law no. 2017-55 of 20 January 2017 on the general status of independent administrative authorities and independent public authorities is not counted towards the quorum, under the conditions set out in articles 1 to 4 of decree no. 2014-90 of 31 January 2014 implementing article 2 of law no. 2013-907 of 11 October 2013 on transparency in public life. A member may give a proxy to another member to vote on his behalf at a meeting which he is unable to attend. Each member may hold only one proxy.
II. - An employee of the AMF, acting as secretary to the meeting, shall keep minutes of the deliberations of the Board. These minutes shall mention the names of the members present, the members who have given a proxy, the members who have received a proxy and the members who have abstained from sitting or deliberating on the grounds that they consider themselves to be in a conflict of interest situation pursuant to Article 12 of the Act of 20 January 2017 referred to above. The minutes are submitted to the Board for approval. Once approved, the minutes are signed by the Chairman of the meeting and a copy is made available to each member of the Board and to the Director General of the Treasury.
III. - Any member of the AMF Board who fails to attend three consecutive meetings of the Board, except in cases of force majeure as determined by the Chairman, shall be deemed to have resigned. The Chairman of the Autorité des marchés financiers shall inform the Minister responsible for the economy.
