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Banking Rule Book
Text applicable on 28 Dec 2017Consolidated version of 28 Dec 2017Earlier versionUpcoming changefrom 27 Jun 2019Unofficial text · authentic on EUR-Lex (opens in a new tab)

BRRD Article 119 — as applicable on 28 Dec 2017 (version of 28 Dec 2017)

Article 119

Amendment to Directive 2004/25/EC

In Article 4(5) (opens EUR-Lex in a new tab) of Directive 2004/25/EC (opens EUR-Lex in a new tab), the following subparagraph is added:

‘Member States shall ensure that Article 5(1) of this Directive does not apply in the case of use of resolution tools, powers and mechanisms provided for in Title IV of Directive 2014/59/EU of the European Parliament and of the Council ((*5)).

(*5)

Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC (opens EUR-Lex in a new tab) and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190).’.