Article 212-38-1 into force since
- Version into force since
I. - This paragraph is applicable to persons or entities making an offer to the public which:
Does not fall within the scope of points 1° or 2° of Article L. 411-2 of the Monetary and Financial Code or of Article L. 411-2-1 of said code; and
Concerns the following securities:
- shares in the mutual and cooperative banks referred to in Article L. 512-1 of the Monetary and Financial Code; or
- mutual company certificates referred to in Article L. 322-26-8 of the Insurance Code; or
- shares in cooperative companies incorporated in the form of a public limited company (société anonyme) falling within the scope of Article 11 of Law n° 47-1775 of 10 September 1947 establishing the status of cooperative activities.
II. - By way of derogation from the rule set out in point IV of Article 211-2 , according to which the total amount of the offer mentioned in paragraph I of the same article is calculated over a twelve-month period following the date of the initial offer, for the application of the provisions of paragraph I of Article 211-2 to an offer of shares in a mutual or cooperative bank, the amount of the offer is assessed per calendar year and at the level of the mutual bank or regional cooperative.
Head of publications: The Executive Director of AMF Communication Directorate. Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02