# Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (recast) (Text with EEA relevance), Article 278: Representation of preferential claims by assets

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

Member States which choose the option set out in Article 275(1)(b) shall require every insurance undertaking to ensure that the claims which may take precedence over insurance claims pursuant to Article 275(1)(b) and which are registered in the insurance undertaking’s accounts are represented, at any moment and independently of a possible winding-up, by assets.

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Source: https://www.legislation.gov.uk/eudr/2009/138/article/278 (the official version)
Page: https://openlegislation.uk/eu-directive-2009-138/article-278
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.