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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 15 July 2015 - onwards
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Regulation 37 Certain Regulations not to apply with respect to application of rules relating to the voidness, voidability or unenforceability of certain legal acts

(1) If, in proceedings in which a judicial authority decides to apply a reorganisation measure in respect of a institution and, in so doing, provides for rules relating to the voidness, voidability or unenforceability of any legal act performed before the measure is imposed and such an act is detrimental to the creditors of the institution as a whole, Regulation 5 does not apply with respect to the application of those rules to the act, if the person benefiting from the act proves in the proceedings that -

(a) the act is subject to the law of another Member State, and

(b) that law does not allow any means of challenging the act.

(2) In legal proceedings for winding up a institution, Regulation 12 does not apply with respect to the application of rules relating to the voidness, voidability or unenforceability of a legal act detrimental to the creditors of a institution as a whole if the person benefiting from the act proves in the proceedings that -

(a) the act is subject to the law of

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