{
  "url": "https://openlegislation.uk/eu-regulation-2014-642/annex-I/article-24",
  "json_url": "https://openlegislation.uk/eu-regulation-2014-642/annex-I/article-24.json",
  "legislation": "eur/2014/642",
  "legislation_title": "Council Regulation (EU) No 642/2014 of 16 June 2014 establishing the Shift2Rail Joint Undertaking",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2014-642",
  "path": "annex/I/article/24",
  "kind": "article",
  "number": "24",
  "heading": "Winding up",
  "text": "1. The S2R Joint Undertaking shall be wound up at the end of the period laid down in Article 1 of this Regulation.\n2. The winding up procedure shall be automatically triggered if the Commission or all members other than the Union withdraw from the S2R Joint Undertaking.\n3. For the purpose of conducting the proceedings to wind up the Joint Undertaking, the Governing Board shall appoint one or more liquidators, who shall comply with the decisions of the Governing Board.\n4. When the 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 contribution to the S2R Joint Undertaking. Any such surplus distributed to the Union shall be returned to the Union budget.\n5. An ad hoc procedure shall be set up to ensure the appropriate management of any agreement concluded or decision adopted by the S2R Joint Undertaking as well as any procurement contract with a duration exceeding its duration.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2014/642/annex/I/article/24",
    "retrieved_at": "2026-11-01T14:47:33.975390+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}