OpenLegislation

Division 2.5 F1

United Kingdom

Original text. Later amendments are not shown.

Conditions for an eventual drawing on the asset guarantee are either the partial or entire uncollectibility of the assets concerned or the formal insolvency of the debtor in addition to the necessity of the payout from the guarantee to prevent over-indebtedness of ÖVAG in accordance with insolvency law and subject to all other applicable conditions in the guarantee amendment agreement. Reference date for the evaluation of guaranteed claims in the pool according to Annex 1 to the guarantee agreement from 15 March 2013 as amended by the guarantee amendment agreement is 31 December 2015 . No further claims from the guarantee will be accepted after that date.

Annotations

Textual amendments

F1

Substituted by Commission Decision (EU) 2016/153 of 2 July 2015 on the State aid SA.31883 — 2015/N, 2011/C which Austria implemented and is further planning to implement for ÖVAG and the Volksbanken Verbund and to amend Decision 2013/298/EU (notified under document C(2015) 4635) (Only the German text is authentic) (Text with EEA relevance).