OpenLegislation

Division 4

United Kingdom

Original text. Later amendments are not shown.

When the IMI2 Joint Undertaking is being wound up, its assets shall be used to cover its liabilities and the expenditure relating to its winding up. Any surplus shall be distributed among the Members at the time of the winding up in proportion to their financial contributions to the IMI2 Joint Undertaking. Any such surplus distributed to the Union shall be returned to the Union budget.