NEW LAW "On Transparency, Fighting Corruption and on Modernizing the Economy."
On December 9, 2016, France adopted a new law No. 2016-1691 "On Transparency, Fighting Corruption and on Modernizing the Economy." In short, it is also referred to as the Law of Sapin II, on the surname of the acting Minister of Economy and Finance. Officially, the text of the law was published on December 10, 2016. From that date, most of its provisions came into force.
We are talking about a sufficiently voluminous text (169 articles), providing for a whole range of organizational measures, interference in limiting the mechanisms of corruption in the economy and reflecting the rules of the companies operating in the French market. Without setting myself the task of giving here a detailed analysis of all innovations that are simply not possible in the format of a blog, I will only note that the law of Sapan 2:
- Introduce a new category of corruption offense - trade in foreign legal entities, open cases;
- creates a new structure - the French Anti-Corruption Agency (AFA), "customers", which are large companies with more than 500 employees and turnover of more than 100 million euros;
- introduces increased security measures for the so-called "Uninterested informants" (lanceur d'alerte), that is, persons reporting a situation that could lead to the collection of information on suspicious situations;
- creates a so-called registry; "representatives of interests", in which, under the threat of prison terms and serious fines, all those structures, companies, associations, non-governmental organizations that must actively and purposefully interact with persons - under the list - participating in the development of legislation and state politicians; "lobbyists" are required not only to disclose the names of their customers but also to provide information on the financial component of the relevant activity;
- Introduces measures to ensure transparency in obtaining loans from political parties and candidates in elections in terms of their source and size;
- Introduces mandatory information to the President and the Prime Minister in cases of finding any ambiguity with tax situations involving members of the government;
- Introduces measures for strict control by shareholders of large companies regarding remuneration or other "bonuses" of their managers;
- obliges for the future - it is true after the relevant EU Directive has been adopted, - transnational corporations provide open financial reports in France about the number of employees, turnover, and amounts of taxes that they pay in other countries;
- takes a number of measures to protect consumer rights in the banking and insurance sectors;
- provides for a number of measures to optimize the activities of small entrepreneurs;
- introduces a number of measures in the field of contracts for the purchase of agricultural products, providing, in particular, increased guarantees for agricultural producers;
Also, the new law Sapan 2 also formulated provisions relating to guarantees enjoyed by foreign countries in cases of the collection in the territory of France or when security measures are imposed on their property.
It should be noted that from a sufficiently voluminous text of the new law, only two articles (articles 59 and 60) directly concern the procedural aspects of enforcement in relation to foreign states or the imposition of the seizure of their property in France.
-Article 59 includes new provisions in the chapter "Executor and executive document" of the French Civil Executive Code. Only she is considered below.
-Article 60 of the new law is devoted to cases of seizure of property and recovery on the basis of claims of holders of securities issued by a foreign government or debt obligations. In this comment, it will not be considered