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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2016 - onwards
  Version 2 of 2    

Article 25 Protection of third-party purchasers

Repealed from 1 January 2016

Where, by an act concluded after the adoption of a reorganisation measure or the opening of winding-up proceedings, an insurance undertaking disposes, for a consideration, of:

(a) an immovable asset,

(b) a ship or an aircraft subject to registration in a public register, or

(c) transferable or other securities whose existence or transfer presupposes entry in a register or account laid down by law or which are placed in a central deposit system governed by the law of a Member State,

the validity of that act shall be governed by the law of the Member State within whose territory the immovable asset is situated or under whose authority the register, account or system is kept.

Comparing proposed amendment...