Article 27 Winding-up and Settlement of Assets
United Kingdom
In case of dissolution of CERIC-ERIC, CERIC-ERIC shall remain bound in respect of all pending obligations and undertakings towards third parties.
The winding-up of CERIC-ERIC as a result of one of the conditions of dissolution listed in Article 26, shall require a decision of the General Assembly taken by a qualified majority of two thirds of all the Members having voting rights and notified to the European Commission according to Article 16 of the Regulation. Such decision shall at least specify:
number of liquidators and rules of functioning of the liquidator board in case of plurality of liquidators;
appointment of the liquidators and indication of the liquidators who shall be legal representative of the winding-up CERIC-ERIC;
the criteria of the winding-up, including the possible transfer of activities to another legal entity, and the powers of the liquidators.