# Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast) (Text with EEA relevance) (repealed), Division 21: A mismatch between the underlying obligation and the reference obligation under the credit derivative (i.e. the obligation used for the purposes of determining cash settlement value or the deliverable obligation) or between the underlying obligation and the obligation used for purposes of determining whether a credit event has occurred is permissible only if the following conditions are met:

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Status: repealed

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Source: https://www.legislation.gov.uk/eudr/2006/48/annex/VIII/part/2/division/n4/division/2.4/division/21 (the official version)
Page: https://openlegislation.uk/eu-directive-2006-48/annex-VIII/part-2/division-n4/division-2.4/division-21
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.