MIL OSI Translation. Government of the Republic of France statements from French to English –
BILL
MODERNIZATION OF THE ALTERNATIVE INVESTMENT FUNDS REGIME
The Minister of Economy, Finance and Industry presented a bill ratifying Ordinance No. 2024-662 of July 3, 2024, modernizing the alternative investment fund regime.
This order was adopted on the basis of Article 40 of Law No. 2023-973 of October 23, 2023 relating to the green industry.
It introduces numerous measures to modernise and simplify the alternative investment fund (AIF) regime in order to make our asset management law more attractive and competitive, to take maximum advantage of the entry into force of Regulation (EU) 2023/606 of the European Parliament and of the Council of 15 March 2023, known as “ELTIF 2.0” on 10 January 2024 and thus increase long-term financing of the European economy, necessary in particular to finance the transition to carbon neutrality.
In this respect, the order modifies several provisions of the Monetary and Financial Code:
– it modernises the regime of so-called “professional” FIAs, in particular by simplifying the rules for the composition of this type of FIA and creating a new corporate form without legal personality for specialised professional funds;
– it adapts the rules applicable to so-called “non-professional” FIAs, in order to ensure their complementarity with ELTIF 2.0 funds;
– it allows corporate mutual funds (FCPE) to invest in ELTIF 2.0 funds.
DECREE
REQUIREMENTS FOR THE NEEDS OF DEFENSE AND NATIONAL SECURITY AND THEIR ARTICULATION WITH THE DIFFERENT LEGAL REGIMES RELATING TO CRISIS PREPARATION AND MANAGEMENT
The Minister of the Armed Forces and Veterans presented a draft decree relating to requisitions for the needs of defence and national security and their articulation with the various legal regimes relating to the preparation and management of crises.
This decree is issued for the application of Article 47 of Law No. 2023-703 of August 1, 2023 relating to military programming (LPM) for the years 2024 to 2030 and containing various provisions relating to defense. This article carried out a complete renovation of the requisition system under the Defense Code, which appeared obsolete, complex to implement and based on criteria whose scope was uncertain.
Article 47 of the LPM now distinguishes:
– on the one hand, requisitions aimed at dealing with threats to the life of the Nation, decided by presidential decree deliberated in the Council of Ministers to respond to situations whose territorial scope exceeds that which the prefectural authorities can deal with on the basis of the general code of local authorities in the event of a threat to public order (article L. 2212 1, defense code);
– on the other hand, requisitions aimed at dealing with emergency situations involving the safeguarding of national defence interests, decided by decree of the Prime Minister, in the absence of any other means available in good time, to enable the State to conduct the operations necessary for its defence (article L. 2212-2, defence code).
This decree is intended to define the procedural arrangements for implementing this new requisition regime and the prior constraints which constitute its corollary, by considerably simplifying the legal framework previously applicable, which did not allow the public authorities to mobilise it effectively to respond to crisis circumstances.
The dedicated book of the defense code is thus reduced from 182 to 30 articles, while clarifying the procedure for ordering the census of people, goods and services likely to be subject to a requisition measure as well as the conditions under which they can be subject to tests and exercises, thus contributing to the construction of a global policy of resilience of the Nation in the face of the risks and threats it faces.
To meet this same purpose, this decree also proceeds, in a continuum logic, to the articulation between, on the one hand, the requisition measures and the prior constraints which constitute their corollary and, on the other hand, the different legal regimes relating to the preparation and management of crises linked to national defence, in connection with the prerogatives devolved to the public authorities by the defence code in matters of military defence and civil defence.
Finally, taking into account the specific issues raised by the potential use of the requisition system, the decree defines a legal framework adapted to the specificities of all overseas communities, in particular to take into account their geographical isolation and their distance from mainland France.
INDIVIDUAL MEASURES
The Council of Ministers adopted the following individual measures:
On the proposal of the Keeper of the Seals, Minister of Justice:
– Ms Christine MAUGÜÉ, State Councilor, is appointed President of the Administration Section of the Council of State, effective October 8, 2024.
On the proposal of the Minister of the Interior:
– Mr. Laurent BUCHAILLAT, State administrator, is appointed prefect of Tarn;
– the functions of prefect of the Bourgogne-Franche-Comté region and prefect of the Côte d’Or exercised by Mr. Franck ROBINE are terminated, as of September 21, 2024;
– the functions of prefect of the Brittany region, prefect of the West defense and security zone, prefect of Ille-et-Vilaine exercised by Mr. Philippe GUSTIN are terminated;
– the functions of delegated prefect for defense and security with the prefect of the Hauts-de-France region, prefect of the North defense and security zone, prefect of the North exercised by Mr. Louis-Xavier THIRODE are terminated, as of September 26, 2024;
– the functions of delegated prefect for equal opportunities with the prefect of the Hauts-de-France region, prefect of the North defense and security zone, prefect of the North exercised by Ms Virginie LASSERRE are terminated;
– the functions of Prefect of Nièvre exercised by Mr. Michaël GALY are terminated;
– the functions of Prefect of Aube exercised by Ms. Cécile DINDAR are terminated.
On the proposal of the Minister of National Education and the Minister of Higher Education and Research:
– the functions of rector of the Limoges academy exercised by Ms Carole DRUCKER-GODARD are terminated.
On the proposal of the Minister for Europe and Foreign Affairs:
– the functions of Director General of Globalization, Culture, Education and International Development exercised by Mr. Aurélien LECHEVALLIER are terminated, effective September 22, 2024.
On the proposal of the Minister of the Armed Forces and Veterans:
– various individual measures were adopted concerning general officers of the army, the navy, the air and space force, the general directorate of armaments and the army commissariat service;
– the functions of Director General of Digital and Information and Communication Systems exercised by Mr. Vincent TEJEDOR are terminated.
On the proposal of the Minister of National Education and the Minister of Labor and Employment:
– the functions of High Commissioner for Vocational Education and Training exercised by Mr. Geoffroy de VITRY are terminated.
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.