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Covid-19

Empowerment of the Government to legislate on the functioning of companies

The Government is also empowered, by the Emergency Law to deal with the covid-19 epidemic, to legislate by order, for 3 months as of March 23, 2020, on the following subjects (art. 11, I, 1°, a), c) to g), 2° f) to h):

- direct or indirect aid to companies whose viability is in question, in particular by setting up measures to support the cash flow of such persons and a fund whose financing will be shared with the regions, the communities covered by Article 74 of the Constitution, New Caledonia and any other territorial community or voluntary public establishment ;

- amendments, with due respect for reciprocal rights, to the obligations of legal persons governed by private law carrying on an economic activity towards their customers and suppliers and of cooperative organizations towards their cooperative members, in particular in terms of payment periods and penalties and the nature of the consideration, in particular as regards the contracts for the sale of travel and stays mentioned under II and III of Article L. 211-14 of the Tourism Code taking effect as of March 1, 2020 and the services relating to educational sojourns for minors organized within the framework of Article L. 227-4 of the Social Action and Family Code;

- adaptation of the provisions of section VI of the Commercial Code and those of Chapter I of Title V of Book III of the Rural and Maritime Fishing Code to take into account the consequences of the health crisis for businesses and farming enterprises ;

- adaptation of the provisions of Article L. 115-3 of the Code of Social Action and Families, in particular to extend, for the year 2020, the deadline set in the third paragraph of the same Article L. 115-3, and postponing the date of the end of the suspension of all rental eviction measures provided for in Article L. 412 6 of the Code of Civil Enforcement Procedures for that same year;

- adaptation of the rules of signature, payment deadlines, execution and termination, in particular those relating to contractual penalties, provided for by the Code of public procurement as well as the stipulations of public contracts having such a purpose;

- possibility of deferring in full or spreading out the payment of rents, water, gas and electricity bills relating to professional and commercial premises and waiving financial penalties and the suspensions, interruptions or reductions in supplies likely to be applied in the event of non- payment of these bills, for the benefit of microenterprises, defined by the Decree N° 2008 1354 of December 18, 2008 relating to the criteria for determining the category to which an enterprise belongs for the purposes of statistical and economic analysis, whose activity is affected by the spread of the epidemic;

- simplification and adaptation of the conditions under which the meetings and collegiate governing bodies of legal persons under private law and other entities meet and deliberate, as well as the rules relating to general meetings ;

- simplifying, clarifying and adapting the rules relating to the drawing up, approval, auditing, review, approval and publication of accounts and other documents that legal persons governed by private law and other entities are required to file or publish, in particular those relating to time limits, as well as adapting the rules relating to the allocation of profits and the payment of dividends ;

- adapting the provisions relating to the organization of the Public Investment Bank set up by Order N° 2005 722 of June 29, 2005 on the Public Investment Bank in order to strengthen its capacity to grant guarantees.