#2012-387Law No. 2012-387 on Simplifying Law and Lightening Administrative Procedures
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This law simplifies various commercial and administrative procedures in France. It modifies numerous articles of the Commercial Code and other related laws to reduce bureaucratic requirements, change terms and durations related to leases, and alter voting rights in commercial tribunals. It affects business entities by amending corporate governance rules and lightening some legal obligations, making it easier to comply with administration processes.
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Key Changes
- Modifies terms and durations for commercial leases.
- Changes voting rights in commercial tribunals.
- Eases requirements for company formation and management processes.
Obligations
What this law requires
When terminating commercial leases subject to Chapter III of Title II of the Commercial Code, lessors must give notice six months in advance or receive a renewal request. In the absence of notice or renewal request, written leases are automatically extended beyond the contract term, and notice must be given at least six months in advance for the last day of a calendar quarter.
Business entities purchasing commercial operations that are subject to management lease agreements must transfer ownership to an associate within two months and must retrocede the property within a maximum of seven years. Failure to retrocede within this deadline may result in court-ordered injunction with possible penalties.
For in-kind contributions (apports en nature) to a société anonyme, founders may dispense with an appraiser (commissaire aux apports) if: (1) securities or money market instruments are valued at the weighted average price from regulated markets over the preceding three months, or (2) other assets were evaluated at fair value by an appraiser within the preceding six months.
Commercial courts must include the phrase 'if applicable, subject to penalty' when issuing injunctions under Article L. 123-3 of the Commercial Code
Courts must impose voting and eligibility restrictions lasting no more than five years for violators, affecting their participation in commercial tribunal elections and chamber of commerce elections