Article 422-191 into force since 22 February 2019

If, on expiry of the statutory one-year period for SCPIs and the two-year period for SEFs and GFIs, the conditions set out in first paragraph of Article L. 214-116 of the Monetary and Financial Code for SCPIs, by Article L. 214-123 of the same Code for SEFs and by point 1° of Article L. 331-4-1 (II) of the Forestry Code for GFIs are not met, the management company shall inform the AMF and the bank as soon as possible and at the latest within fifteen days, providing the latter with the list of subscribers, the sums to be repaid and the date on which the extraordinary general meeting due to decide the winding up of the company is to be held.

The meeting shall be convened within a period of two months from expiry of the statutory one-year period for SCPIs or two years for SEFs and GFIs.

Refunds to shareholders shall be paid within no more than six months from the date on which the extraordinary general meeting specified above is held.

The bank guarantee may not specify an expiry date that falls prior to the expiry of this six-month period.