Key Benefits:
The Minister for Social Affairs, Labour and Solidarity and the Minister of Health, Family and People with Disabilities,
In the light of Directive 79 /267/EEC Council of 5 March 1979 amending the coordination of the laws, regulations and administrative provisions concerning access to the direct insurance activity on life and its exercise;
Given the code of mutuality;
In the opinion of the Superior Council of mutuality as of April 17, 2002,
Stop:
Title II of Book II of the code of mutuality (fourth part: Orders) is supplemented by a chapter 3 entitled: " Operations that depend on human life and capitalization operations ".
Section 1 of Chapter 3 of Title II of Book II of the code of mutuality (fourth part: Orders) reads:
" Section 1
"General
" Art. A 223-1. -Where the participant or beneficiary chooses the cash settlement, the amount paid in accordance with the provisions of the Regulation or the collective agreement shall be equal to the currency countervalue of the units of account, on the basis of the value of the The redemption or realization of such securities as of the date provided for by the regulation or collective agreement.
" This date may not be more than thirty days after the date of application of the capital or annuity guaranteed to the mutual or The union of mutuals.
" Art. A 223-2. -The value referred to in R. 223-2 is obtained by dividing the net assets of the real estate or land corporation by the number of shares or shares. The net assets shall be the net assets of the last balance sheet after allocation of the result and revaluation of the buildings, in accordance with the procedure defined in Article R. 212-53 (b).
" However, for the valuation between two accounts of the capital or the Guaranteed annuity, it may be indicated in the regulation or collective agreement that the value of the unit of account is determined, according to a frequency defined in those same regulations or contracts, according to the evolution since the close of the last Exercise of net assets and revaluation of buildings. In this case, the value of the net assets is the subject of an attestation by the Commissioner of the accounts of the real estate or property company or the auditor of the mutual or mutual union.
" Reassessment must be done by By an expert accepted by the supervisory committee set up in Article L. 510-1, or by updating the latest estimate certified by an expert accepted by the abovementioned supervisory committee by Application of a rule based on representative indices of the real estate market contained in the regulation or collective agreement.
" Art. A 223-3. -Where the unit of account serving as a reference to the valuation of the capital or the annuity guaranteed by the regulation or the collective contract is a part of a civil estate investment company subject to the control of the Commission for the operations of , the value of that company referred to in Article R. 223-2 is the value of that company's realization, within the meaning of Article 11 of Act No. 70-1300 of 31 December 1970, which sets out the regime applicable to civil societies authorised to do so. Publicly called for savings.
" Art. A 223-4. -The substitution of a unit of account for the benefit of units of account of a comparable nature provided for in Article R. 223-4 shall be authorised by the Monitoring Committee established in Article L. 510-1 in the light of the report of an expert authorised by the mutual or The union of mutual societies. The expert certifies the comparability of companies, in relation to the criteria of destination, such as housing, offices, shopping centres, and the location of the assets thereof.
" However, the Commission may also require expertise In the manner laid down in Article R. 212-56. "
The Director of Social Security is responsible for the execution of this Order, which will be published in the Official Gazette of the French Republic.
Done at Paris, December 26, 2002.
The Minister of Health, the
Family and People with Disabilities,
For the Minister and delegation:
By Preventing the
Director from Social Security:
The retreats and the
institutions of complementary social protection,
F. The Morvan
The Minister of Social Affairs,
du Work and solidarity,
For the Minister and by delegation:
By preventing the Director
from Social Security:
The Deputy Director of Pensions and Institutions
of Social Protection Additional,
F. The Morvan
