39. In order to support resolution authorities, institutions should identify legal interconnections …

In order to support resolution authorities, institutions should identify legal interconnections between the core transfer perimeter and the rest of the institution including, but not limited to:

• a. At inter-entity level: (i) cross-entity ownership instruments; (ii) tax linkages; (iii) obligations towards the other cooperative members when relevant; (iv) legal relationship between the entities and any solidarity mechanisms or institutional protection schemes (IPS); (v) relevant contracts with exclusion clauses, such as, joint venture or other partnerships, for instance, with insurance companies.
• b. At the level of organisational units: legal interconnections due to existing service obligations under service level agreements or not, employee contracts and collective agreement¹³ , and contractual provisions attached to each unit’s assets and liabilities.

¹³ Pursuant to article 5(1) of Transfers of Undertakings Directive 2001/23/EC (TUPE) and Article 34(4) of Directive 2014/59/EU, the automaticity of the transfer of employee contracts might not apply under a transfer using any of the bridge institution, sale of business, or asset separation tools.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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