{
  "url": "https://openlegislation.uk/eu-decision-2013-719/annex-I/division-c",
  "json_url": "https://openlegislation.uk/eu-decision-2013-719/annex-I/division-c.json",
  "legislation": "eudn/2013/719",
  "legislation_title": "Commission Decision of 16 November 2012 State aid SA.33305 (2012/C) and SA.29832 (2012/C) implemented by Netherlands for ING (notified under document C(2012) 8238) (Only the English text is authentic) (Text with EEA relevance) (2013/719/EU)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2013-719",
  "path": "annex/I/division/c",
  "kind": "division",
  "number": "c)",
  "heading": null,
  "text": "The Netherlandsfurthermore commits that ING will adhere to an acquisition ban:\nING will refrain from acquisitions of financial institutions for an additional period. Moreover, ING will refrain, for the same period, from acquiring any (other) businesses that would slow down the repayment of the Core Tier 1 Securities to the Netherlands. The acquisition ban will apply until 18 November 2015 or until the date on which more than 50 % of the Insurance/IM operations in Asia, 50 % of Insurance/IM US and 50 % of Insurance/IM Europe have been divested, whichever date comes earlier.\nNotwithstanding that prohibition, ING may, after obtaining the Commission’s approval, acquire businesses, in particular if it is essential in order to safeguard financial stability or competition in the relevant markets.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "For Insurance/IM US, the 50 %+ divestment criterion will be reached as soon as ING has divested at least 25 % of that business and taking into account a pro-forma divestment of the US run-off businesses (by allocated equity capital FY’11 data)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2013/719/annex/I/division/c",
    "retrieved_at": "2026-11-01T15:14:56.932456+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."
}