PACTE Law: Strengthening Control of Foreign Investment in Strategic Companies | Bryan Cave Leighton Paisner
The "PACTE" Law was published in the Official Journal on 23rd May 2019 and contains many provisions of interest to businesses.
The said law, inter alia, broadens the notion of what is in a company’s interest, takes into account the social and environmental stakes of companies' activities, revises the formalities for creating and modifying a company, and seeks to facilitate the transfer of businesses.
It also addresses foreign investments in what is called 'sensitive sectors' such as artificial intelligence, cyber security and robotics. Prior authorization is required for these sectors and where such authorization is not obtained, the Minister for Economic Affairs is given wider powers to censure the foreign investor by taking various measures to enforce compliance.
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