Fond de Garantie des dépôts

Decree 99-776 of 8 September 1999

implementing Article L. 313-50 of the Monetary and Financial Code and amended by Decree 2000-699 of 19 July 2000
 

Chapitre I : Obligatory guarantees covered by the guarantee mechanism

Art icle 1

Pursuant to article 313-50 of the Monetary and Financial Code ( Code monétaire et financier), the guarantee commitments granted by a credit institution authorized in France are covered by the guarantee mechanism by way of:

- Article 1799-1 of the Civil Code; article 1 of Act 71-584 of 16 July 1971 aiming to regulate the deductions for the guarantees in relationship with the contracts defined in Article 1779 (3°) of the Civil Code and Articles 13-1 and 14 of Act 75-1334 of 31 December 1975 relative to sub-contracting;

• Article L. 124-8 and article L 763-9 of the Labour Code;

• Article L. 530-1 of the Insurance Code;

•  Article L. 231-2 (k) and L. 231-1 (g) of the Building and Occupancy Code along with Articles L. 222-3 (h) R. 222-9 and R. 222-11 of the same Code;

• Articles L. 261-11 (d) and R. 261-17 to R. 261-24 of the Construction and Housing Code and Articles 6 and 15 of Act 84-595 of 12 July 1984 which define the hire-purchase system relative to real estate;

• Article R.141-2 of the Rural Code;

• Article 3 (2°) of the above-mentioned Act of 2 January 1970;

• Article 27 (subparagraph 2) of the above-mentioned Act of 31 December 1971;

• Article 7-1 of the above-mentioned Act of 30 December 1982;

• Article L. 519-4 of the Monetary and Financial Code ;

•  Article L. 522-11 of the Commerce Code;

• Article 6 of the Decree 86-567 of 14 March 1986;

• Articles 7-2, 8, 9 and 10 of the above-mentioned Decree 86-608 of 14 March 1986;

• Article 3 (2°) of the above-mentioned Decree of 26 April 1989 referred to above;

• Article 9-2 of the above-mentioned Decree of 28 January 1998;

• Decree of 9 March 1994 relating to the pools of credits;

• Article 16 of the decree of 6 May 1995 relating to the airports and other sites used by helicopters.

Art icle  2

Shall be excluded from any compensation or resumption of by the guarantee mechanism:

1° The guarantee commitments carried out in the interest of the following people:

1. Credit institutions and investment firms, on their behalf and for their own account;
2. Insurance companies;
3. Collective investment undertakings;
4. Organizations of retirement and funds of pension;
5. Persons mentioned in Article L. 518-1 of the Monetary and Financial Code;
6. Associates personally responsible and sleeping partners, holders of at least 5% of the capital of the credit institution, administrators, members of the directory and the board of trustees, senior managers and auditors of the institution, as well as any recipient having the same qualities in other companies of the group;
7. Companies having with the credit institution, directly or indirectly, links of capital bringing to one of the linked companies a real power of control on the others;
8. Other financial institutions within the meaning of Article L. 511-21-4 of the Monetary and Financial Code;
9. Third parties acting on behalf of the people quoted above.

2° The guarantee commitments concerning the operations for which a final penal sentence has been ordered against the recipient for money laundering, on the base of articles 222-38, 324-1 and 324-2 of the Penal Code or article 415 of the Customs Code;

3° The guarantee commitments for which the recipient has been granted by the credit institution, on a purely individual basis, financial advantages which contributed to worsen the financial standing of this institution.

Chapitre II : Modes of information of the public on the granted guarantee

Art. 3. - Credit institutions provide to the beneficiary the guarantee commitments mentioned in article 1 of the present decree, as well as to any person who asks for it, all useful information on the guarantee mechanism, in particular on the nature and the extent of the protection offered.

Art. 4. - The member institutions of the guarantee fund shall insert in the contracts of guarantee which fall into the scope of application of this decree the following mention: " This commitment is covered by the guarantee mechanism instituted in Article L. 313-50 of the Monetary and Financial Code.

Art. 5. - The beneficiaries of the guarantee commitments mentioned in article 1 of this decree may obtain, on a mere request made by the deposit guarantee fund, additional information on the conditions or delays concerning the compensation as well as on the formalities to carry out in order to be reimbursed.

Art. 6. - Information aimed at the benefeciairy as well as the documents relating to the conditions and formalities to fulfill in order to receive a payment on account of the guarantee mechanism shall be written in French language, with details and in an easily understandable way.

Art. 7. - The Minister for economy, finances and industry is in charge of the carrying out of this decree, which will be published in the Journal officiel de la République française.