+Article 60 1

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:

(a)

the transfer of assets against which the liability is secured, unless that liability and benefit of the security are also transferred;

(b)

the transfer of a secured liability, unless the benefit of the security are also transferred;

(c)

the transfer of the benefit of the security, unless the secured liability is also transferred;

(d)

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.

1. Overview

,
Summary Regulation

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements
Source Requirement

3. Related Standards

Standards
Source Requirement