The New Economic Regulations Law (15th May, 2001) has limitated the number of directorships that can be held by an individual. Compliance is required by 16th November, 2002. Individuals who have not complied by that date will be deemed to have resigned from all directorships. A new law introducing exceptions for groups of companies is due to be adopted before 16th November, 2002 to ensure that individuals holding directorships within the same group are not caught by the Law.

Source: Website of the French Parliament, www.assemblee-nationale.fr Lovells email: franç[email protected]