The Autorité de la concurrence publishes its opinion of 27 July 2023
The Autorité de la concurrence publishes its opinion of 27 July 2023 on a draft decree on various services provided in connection with the register of security interests over movable property and amending certain provisions of the French Commercial Code (code de commerce).
Having been referred to by the Government, the Autorité issued an opinion on 27 July 2023 on a draft decree on various services provided in connection with the register of security interests over movable property and amending certain provisions of the French Commercial Code (code de commerce)
In it, the Autorité made four recommendations intended to clarify the draft decree, ensuring that the fees charged by commercial court registrars are clearer.
The decree, which was finally adopted on 3 October 2023, took into account all of the Autorité's recommendations, with the exception of the recommendation to clarify the terms and conditions under which the charge for the total suspension of a security interest on movable property is applied.
The Autorité de la concurrence welcomes the Government's efforts to make the subject of security interests over movable property more easily understandable. The creation of a single register, which puts an end to the myriad special regimes, will allow creditors to consult all the securities already established by a debtor looking to secure credit.