{
  "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-xv",
  "json_url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-xv.json",
  "legislation": "eudn/2010/396",
  "legislation_title": "Commission Decision of 18 November 2009 on the State aid C 18/09 (ex N 360/09) implemented by Belgium for KBC (notified under document C(2009) 8980) (Only the English text is authentic) (Text with EEA relevance) (2010/396/EC)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2010-396",
  "path": "annex/division/1/division/xv",
  "kind": "division",
  "number": "(xv)",
  "heading": null,
  "text": "Finally, the Belgian authorities have committed that KBC will organise the management rights of the Belgian authorities in respect of the guaranteed portfolio under the State Protection measure, in such a way that the interests of the Belgian authorities as the guarantor will be duly guaranteed while preserving a suitable level of flexibility for KBC to react swiftly to changing market circumstances and to make the relevant adjustments and choices as appropriate. The legal documentation of the guaranteed portfolio provides for safeguards to protect third party investors, super senior counterparties and therefore, by extension, the Belgian authorities against possible conflicts of interest in the management of the guaranteed portfolio. In addition to the safeguards under the original legal documentation, the agreement with the Belgian authorities governing the State Protection measure will in particular provide for the right of the Belgian authorities to monitor the management of the guaranteed portfolio. Where appropriate, the Belgian authorities will be granted consent rights to further protect its interests.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2010/396/annex/division/1/division/xv",
    "retrieved_at": "2026-11-01T15:16:04.602874+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}