# Commission Implementing Decision (EU) 2017/499 of 17 March 2017 on setting up the e-Science and Technology European Infrastructure for Biodiversity and Ecosystem Research — European Research Infrastructure Consortium (LifeWatch ERIC) (notified under document C(2017) 1648) (Only the Dutch, French, Greek, Italian, Portuguese, Romanian Slovenian and Spanish texts are authentic) (Text with EEA relevance), Article 19: Winding up and Insolvency

Extent: E+W+S+N.I.

1. The winding up of LifeWatch ERIC shall be decided by a qualified majority vote of the General Assembly.
2. Without undue delay and in any event within 10 days after adoption of the decision to wind up LifeWatch ERIC, LifeWatch ERIC shall notify the European Commission about the decision.
3. Upon adoption of the decision to wind up LifeWatch ERIC, its Executive Board, acting in accordance with the laws of the jurisdiction of the Host Member State, shall arrange for the liquidation of its assets and activities, under the following principles:
(a) Any physical support item made available by the member hosting a Common Facility or Distributed Center shall be returned.
(b) Any further assets shall be used to cover the liabilities of LifeWatch ERIC and the costs relating to its winding up. Any financial surplus shall be distributed among the members at the time of the winding up in proportion to their total basic financial contributions made from the beginning of the operation of LifeWatch ERIC.
(c) Concerning in-kind and other contributions, the Executive Board after approval by the General Assembly and as far as practicable, may transfer LifeWatch ERIC activities and know-how to institutions with similar objectives. In case that there are no equivalent institutions, the assets other than financial surplus remaining after payment of LifeWatch ERIC debts shall be apportioned among the members in proportion to their accumulated annual contributions unless otherwise provided for under service level agreements. Where possible, allocation of assets will be made to the members who have contributed them.
4. The winding-up leading to the decommissioning of LifeWatch shall be subject to the deadlines applicable to the withdrawal and termination of membership provided for under Articles 5(1), 5(2), and 5(6).
5. LifeWatch ERIC shall cease to exist on the day on which the European Commission publishes the appropriate notice in the Official Journal of the European Union.

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Source: https://www.legislation.gov.uk/eudn/2017/499/annex/article/19 (the official version)
Page: https://openlegislation.uk/eu-decision-2017-499/annex/article-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.