+Article 78 1.

Article 78 1.

Member States shall ensure that there is appropriate protection for liabilities secured under a security arrangement so as to prevent one 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; or

(d) 

the modification or termination of a security arrangement through the use of ancillary powers, if the effect of that modification or termination is that the liability ceases to be secured.

1. Overview

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1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards