+Article 80 Partial transfers: protection of trading, clearing and settlement systems
---+Article 80 1.
---+Article 80 2.
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Article 80 Partial transfers: protection of trading, clearing and settlement systems
1. Ħarsa ġenerali
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Regolamentazzjoni |
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Article 80 1.
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Member States shall ensure that the application of a resolution tool does not affect the operation of systems and rules of systems covered by Directive 98/26/EC, where the resolution authority:
(a)
transfers some but not all of the assets, rights or liabilities of an institution under resolution to another entity; or
(b)
uses powers under Article 64 to cancel or amend the terms of a contract to which the institution under resolution is a party or to substitute a recipient as a party.
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Article 80 2.
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In particular, a transfer, cancellation or amendment as referred to in paragraph 1 of this Article shall not revoke a transfer order in contravention of Article 5 of Directive 98/26/EC; and shall not modify or negate the enforceability of transfer orders and netting as required by Articles 3 and 5 of that Directive, the use of funds, securities or credit facilities as required by Article 4 thereof or protection of collateral security as required by Article 9 thereof.
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1.1 Referenzi
1.2 Rekwiżiti identifikati
1.3 Standards relatati
2. Rekwiżiti identifikati
3. Standards relatati
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