- The regulation n° 2020-320 adapting and simplifying the rules of meeting and of deliberation of the general meetings and governing bodies
Article 1 of the regulation refers to all legal entities governed by private law (in particular to commercial companies such as public limited liability companies (French sociétés par actions), simplified joint stock companies (French sociétés par actions simplifiée), private limited liability companies (French sociétés à responsabilité limitée) or the civil companies (sociétés civiles) but also to any groups or associations). This text, applicable to general meetings and meetings of governing bodies held from 12 March 2020 until 31 July 2020 is characterized by the 3 following measures:
Adjustment of the rules of convening and of the shareholders’ information
With respect to (listed) public limited liability companies (French sociétés par actions faisant appel public à l’épargne), article 2 of the regulation takes into consideration the difficulties arising from the convening of the shareholders by postal services and sets out that for the companies required to proceed to this convening “the fact that the convening could not be carried out by postal services due external circumstances of the company, provides no ground for the meeting’s nullity”. These circumstances cover in particular the situation where a company (or its providers) was prevented from accessing its premises or from preparing the necessary convening notices. Note, however, that this article does not refer to any other corporate forms other than the public limited liability companies. Nevertheless, article 3 which applies to all entities as covered by article 1 (so not solely to public limited liability companies, but also for instance to simplified joint stock companies or private limited liability companies) provides that the disclosure of information or of corporate documents required by a shareholder may be carried out by electronic mail. This implies, however, that the relevant shareholder indicates his/her email address in his/her request.