# Directive 2002/47/EC of the European Parliament and of the Council of 6 June 2002 on financial collateral arrangements, Article 6: Recognition of title transfer financial collateral arrangements

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

1. Member States shall ensure that a title transfer financial collateral arrangement can take effect in accordance with its terms.
2. If an enforcement event occurs while any obligation of the collateral taker to transfer equivalent collateral under a title transfer financial collateral arrangement remains outstanding, the obligation may be the subject of a close-out netting provision.

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Source: https://www.legislation.gov.uk/eudr/2002/47/article/6 (the official version)
Page: https://openlegislation.uk/eu-directive-2002-47/article-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.