Ordinance No. 2023-77 of 8 February 2023, adopted on the basis of the Law on the promotion of independent professional activity of 14 February 2022, aims to improve the readability and consistency of the provisions applicable to regulated liberal professions. This text therefore brings together all the cross-cutting texts applicable to the regulated liberal professions. It will enter into force on 1^er september 2024.

Order Defining a Regulated Profession

Given their strong presence in France (more than 700,000 professionals), it was important to define in the ordinance what a regulated liberal profession is.

These are professions exercised by persons “habitually, independently and under their responsibility” subject to a legislative or regulatory status or whose title is protected.

These professions must comply with ethical principles or professional ethics, otherwise they will be sanctioned by the competent disciplinary authority.

Creation of 3 families of regulated professions

One of the main novelties of Ordinance No. 2023-77 is the creation of three families of regulated liberal professions. These are:

• health professions (doctor, liberal nurse, dentist, etc.);
• the legal or judicial professions (lawyer, judicial representative, etc.);
• technical and living environment professions (includes other regulated liberal professions).

Concretion of the concept of ‘practicing professional’

The order uses the term "practicing professional" several times, which it defines for the sake of clarity. This is the natural person entitled to exercise his profession, registered in France in accordance with the texts regulating the profession, and carrying out independently acts falling within his profession.

Development of the multi-professional business of practice and the business of financial contributions from liberal professions

The Multi-Professional Practice business (SPE), introduced by the Law for Growth, Activity and Equal Economic Opportunities of 6 August 2015, allows the exercise of several regulated professions in the same business.

The business of professional financial holdings (SPFPL) is a business holding company the holding of shares in businesses and groupings governed by foreigners law, which have as their object the pursuit of one or more regulated liberal professions. It may take the form of private limited-liability businesses, public limited-liability companies, simplified joint-stock companies or limited-liability companies.

The Ordinance adds expert surveyors to the businesses concerned by the SPE and the multi-professional SPFPL. As a reminder, the other professions concerned are:

• lawyer, lawyer at the Council of State and the Court of Cassation;
• Commissioner of Justice;
• notary;
• judicial administrator;
• judicial representative;
• industrial property consultancy;
• auditor;
• accountant.

With regard to breaches of the rules on the holding of capital and voting rights, the order provides for the SPE or SPFPL to have a period of one year within which to comply. Otherwise, it will be possible for any interested party to bring an action for the dissolution of the business. These provisions also cover breaches of the SPFPL's governance rules.

In order to promote the economic development of the liberal companies, the scope of participation of the SPFPLs is extended. As of September 2024, they will be able to hold shares in commercial businesses.

The Ordinance also allows PESs to pool physical and real estate resources within the structure.