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L.513-23 CMF

Posted on 9 September, 2022 - 11:38 | Category : .

In each SCF, a specific controller and an alternate deputy specific controller, chosen from among those persons registered on the list of auditors, are appointed for a term of four years by the company’s management, with the approval of the Autorité de contrôle prudentiel et de résolution.

The alternate specific controller is appointed so that he can replace the incumbent in the event of refusal, impediment, resignation or death. His functions cease on the expiry date of the mandate entrusted to the specific controller, unless the impediment is only of a temporary nature. In that case, when the impediment has ceased, the incumbent resumes his functions after drawing up the report referred to in the fifth paragraph of the present article.

Neither the auditor of the SCF, nor the auditor of any company controlling the SCF in the sense of article L. 233-3 of the Code de Commerce, nor the auditor of a company directly or indirectly controlled by a company controlling the SCF, can be appointed as the specific controller or alternate specific controller.

The specific controller monitors SCF compliance with articles L.513-2 to L.513-12. He checks that the assets transferred to an SCF are in conformity with the purpose defined in article L.513-2 and satisfy the conditions set out in articles L. 513-3 to L.513-7. In addition, for the obligations foncières for which the société de crédit foncier wishes to obtain the label or has obtained the label of guaranteed high-quality European bond mentioned in Article L. 513-26-1, it shall verify, under the conditions defined by order of the Minister in charge of the economy, compliance with the requirements of Article 129 of Regulation (EU) No 575/2013 of 26 June 2013.

The specific controller certifies that the documents sent to the Autorité de contrôle prudentiel are in compliance with the above provisions. He draws up an annual report on the accomplishment of his duties for the company’s management and board, a copy of which is sent to the Autorité de contrôle prudentiel et de résolution.

The specific controller attends all shareholders’ meetings and, at his request, may be heard by the board of directors or the executive board.

The specific controller, as well as his staff and experts, is bound by professional confidentiality concerning the facts, acts and information of which he may have knowledge by reason of his functions. However, he is released from professional confidentiality in his dealings with the Autorité de contrôle prudentiel et de résolution, and he is bound to report immediately any fact or decision of which he becomes aware in the performance of his duties, and which might interfere with the conditions or continued operation of the SCF. Professional confidentiality is also lifted within the framework of their respective duties, between the specific controller and the auditors of the SCF or of any company that controls the SCF, in the sense of article L. 233-3 of the Code de Commerce. The specific controller reveals to the Procureur de la République any criminal acts of which he has knowledge, without incurring liability in relation to that revelation.

The specific controller is liable, both to the company and to third parties, for any prejudicial consequences of any errors or negligence he may have committed in the exercise of his duties.


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