Regulatory Alerts2006-04-25
Decree No. 2006-281 of April 25, 2006 specifying the implementation procedures for certain provisions of Law No. 2004-045 of January 14, 2005 on the prevention and prosecution of check-related offenses
The Prime Minister issued Decree No. 2006-281 to establish implementation procedures for Law No. 2004-045 regarding the prevention and prosecution of check-related offenses. The decree defines "banker," specifies valid account holder instructions, establishes a one-year check issuance prohibition period triggered by payment refusal, and outlines strict five-day regularization procedures for depositing sufficient funds. It further clarifies joint account suspension, legal entity liability, non-cumulative penalties, civil jurisdiction for disputes, and exemptions for pre-2005 checks.
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