Division 1 EXCLUSION CRITERIA FOR FINANCIAL INTERMEDIARIESF1

Financial Intermediaries that are in one of the situations below, provided that such situation would, in the professional opinion of EIF, affect their ability to implement a Financial Instrument, shall not be selected:

1. 1..

   they are bankrupt or being wound up, are having their affairs administered by the courts, are the subject of proceedings concerning those matters, or are in any analogous situation arising from a similar procedure provided for in national legislation or regulations;

2. 2..

   they have been convicted of an offence concerning their professional conduct by a judgment which has the force of res judicata, which would affect their ability to implement a Transaction;

3. 3..

   they have been the subject of a judgment which has force of res judicata for fraud, corruption, involvement in a criminal organisation or any other illegal activity, in each case where detrimental to the Union's financial interests;

4. 4..

   they are guilty of material misrepresentation in supplying information required for selection as a Financial Intermediary;

5. 5..

   they are listed in the central exclusion database referred to in Article 9.5(e);

6. 6..

   they are incorporated in territories whose jurisdictions do not cooperate with the Union in relation to the application of the internationally agreed tax standard, or their tax practices do not follow the principles of the Commission Recommendation of 6 December 2012 regarding measures intended to encourage third countries to apply minimum standards of good governance in tax matters (C(2012) 8805);

7. 7..

   their business activity does not comply with the EIF policy in relation to restricted sectors.

Points 2 and 3 shall not apply, where the Financial Intermediaries can demonstrate to EIF's satisfaction that adequate measures have been adopted against the persons having power of representation, decision-making or control over them, who are subject to a judgement as referred to in Points 2 and 3.