Article 27 Closure of TIPS DCAsF1
United Kingdom
1.
TIPS DCA holders may request the ECB to close their TIPS DCAs at any time provided they give the ECB 14 business days' notice thereof.
2.
On termination of participation, pursuant to either Article 25 or 26, the ECB shall close the TIPS DCAs of the TIPS DCA holders concerned, after having:
(a)
settled any instant payment order accepted by the payee for which funds have already been reserved; and
(b)
made use of its rights of pledge and set-off under Article 28.