#2011-1103Decree No. 2011-1103 on Exemption from Bond for Goods Under Customs Supervision
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This law removes the requirement for a financial bond on certain goods under specific customs regimes in France. Businesses can apply to customs authorities for this exemption if they meet all necessary conditions and maintain proper accounting records. If a company's status changes, they must inform customs, or risk losing the exemption if conditions are not met.
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Key Changes
- Removes the bond requirement for certain customs goods
- Businesses must apply for exemption with proper documentation
- Non-compliance could result in loss of exemption
Obligations
What this law requires
File accounting documents related to the completed fiscal year in accordance with French Commercial Code articles L. 232-21 to L. 232-23
Designate one or more statutory auditors (commissaires aux comptes) as required by French Commercial Code articles L. 223-35, L. 225-218, L. 226-1, and L. 227-1
Complete all required formalities upon loss of half of share capital as specified in French Commercial Code articles L. 223-42, L. 225-248, L. 226-1, and L. 227-1
Submit a written application to the regional customs office accompanied by a certified declaration confirming satisfaction of all conditions for the bond exemption
Immediately notify the regional customs office upon ceasing to satisfy any of the required conditions for the exemption