+Article 60 1
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Article 60 1
1. Member States shall ensure that there is appropriate protection for liabilities secured under a security arrangement to prevent one or more of the following:
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(a)
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the transfer of assets against which the liability is secured, unless that liability and benefit of the security are also transferred;
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(b)
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the transfer of a secured liability, unless the benefit of the security are also transferred;
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(c)
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the transfer of the benefit of the security, unless the secured liability is also transferred;
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(d)
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the modification or termination of a security arrangement through the use of ancillary powers, where the effect of that modification or termination would be that the liability ceases to be secured.
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1. Overview
1.1 References
1.2 Identified Requirements
1.3 Related Standards
2. Identified Requirements
Requirements
| Source |
Requirement |
3. Related Standards
Standards
| Source |
Requirement |
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