Article 322-74 into force since 19 April 2013

Prior to the opening of a financial securities account within the framework of an employee savings scheme, the custody account- keeper shall verify the identity of the company as well as the validity of the powers delegated to its representative.

The account-opening agreement mentioned in Article 322-5 shall be established, subject to the provisions of the third paragraph, between the company which has put in place the employee savings scheme on behalf of its employees and other bearers and the custody account-keeper specified in the savings plan or participation agreement.

Where, within the framework of an employee savings scheme, the company is an issuer entity carrying on the business of custody account-keeping and keeping of pure registered bearer accounts, it is not obliged to establish with the said bearers an account-opening agreement or to have it established by its representative.