Your institution wishes to modify its legal form: you must apply for prior authorisation from the ACPR.
Stages in the procedure
- Before making the change, send a letter signed by a person effectively running the undertaking to the Authorisation, Licensing and Regulation Division, stating:
- the current legal form;
- the proposed change and the draft amended articles of association;
- the reasons for the change;
- the timetable for completing the project.
- Following a review, your application will be submitted to the ACPR, which will make a decision on the proposed change and inform the institution of its decision.
- Once the change is effective, please send the Authorisation, Licensing and Regulation Division the documents evidencing that the change has taken place, and notably the minutes of the extraordinary general meeting that voted on the change, along with the undertaking’s new articles of association and a copy of the announcement published in a legal gazette.
Changes to the types of payment services provided by a payment institution
The relevant information on these changes is contained in the Licensing, authorisation and registration section.
Procedures for protecting funds received by payment institutions or electronic money institutions
Reporting payment or electronic money institutions must apply for prior authorisation from the ACPR for any change to the procedures for protecting funds received (change in account-keeper used for ringfencing or guarantor in particular).
To apply for authorisation from the ACPR
Send the application to change the procedures for protecting funds received, signed by a person effectively running the undertaking, to the Authorisation, Licensing and Regulation Division.
Once the application has been reviewed
Your application will be submitted to the Chairman of the ACPR College, who will make a decision on the proposed change and inform you of this decision.
Once the change is effective
- Send the ACPR General Secretariat a letter confirming the date of the change and its compliance with the authorisation issued by the ACPR.
- Provide supporting documentation as soon as possible, namely the contract signed with the account-keeping institution or guarantor.
Partners with unlimited liability for the institution’s debts
If the institution wishes to make changes to the partners with unlimited liability for its debts (e.g. change the composition of the board of a partnership or the identity of the limited partners in a limited partnership), it must first apply for authorisation from the ACPR.
Stages in preparing your application
- Mail in a detailed application signed by a person effectively running the undertaking to the Authorisation, Licensing and Regulation Division, explaining the reasons for the change, accompanied by:
- Provide the draft resolutions that will be put to the general meeting of partners.
The application must be sent to the Authorisation, Licensing and Regulation Division, which may request additional clarification or documentation depending on the specifics of the project.
Once the application has been reviewed
- The ACPR College will review your application and notify you of its decision.
- Once the change is effective, the institution must send the Authorisation, Licensing and Regulation Division all supporting documentation, including the minutes of the general meeting and the new articles of association.
Conditions to which the licence is subject
If the institution’s licence is subject to conditions, the institution must apply for prior authorisation from the ACPR to change the conditions on which the licence is based.
If an institution awaiting authorisation does not hear from the ACPR for two months, this may be deemed to signify acceptance.
This period begins only once a complete application has been received. The ACPR may request additional information, which suspends this period until the requested information is received.