French Voting Stock Eligibility Condition for Participation Exemption to be Reviewed by Constitutional Court

The French Supreme Administrative Court (Conseil d’Etat) decided to submit to the Constitutional Council a pre judicial question on the constitutionality of one of the conditions required for the application of the French participation exemption regime. The Constitutional Council is empowered to verify the conformity of laws with the Constitution.

One of the conditions of eligibility for the French participation exemption regime pursuant to an amendment introduced at the end of 2005, is that…