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+Article 118 Amendment to Directive 2002/47/EC |
Article 118 Amendment to Directive 2002/47/ECArticle 118 Amendment to Directive 2002/47/EC Directive 2002/47/EC is amended as follows:
(1)
In Article 1, the following paragraph is added:
‘6.
Articles 4 to 7 of this Directive shall not apply to any restriction on the enforcement of financial collateral arrangements or any restriction on the effect of a security financial collateral arrangement, any close out netting or set-off provision that is imposed by virtue of Title IV, Chapter V or VI of Directive 2014/59/EU of the European Parliament and of the Council (
*4
), or to any such restriction that is imposed by virtue of similar powers in the law of a Member State to facilitate the orderly resolution of any entity referred to in points (c)(iv) and (d) of paragraph 2 which is subject to safeguards at least equivalent to those set out in Title IV, Chapter VII of Directive 2014/59/EU.
(2)
Article 9a is replaced by the following: ‘Article 9a Directives 2008/48/EC and 2014/59/EU This Directive shall be without prejudice to Directives 2008/48/EC and 2014/59/EU.’. 1. Forbhreathnú
1.1 Tagairtí1.2 Ceanglais aitheanta1.3 Caighdeáin ghaolmhara2. Ceanglais aitheanta
3. Caighdeáin ghaolmhara
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