This snapshot, taken on 07/04/2010, shows web content selected for preservation by The National Archives. External links, forms and search boxes may not work in archived websites.
Consultations & legislation
05 April 2004
The Credit institutions Reorganisation and Winding Up Directive (2001/24/EC) creates unified proceedings for EU credit institutions that are being wound-up or subject to reorganisation measures. The Directive provides that, with some exceptions, the national law of a credit institution’s home State will apply in the event of a reorganisation or winding up proceedings, including in respect of its branches in other Member States. The Directive also provides that only the administrative or judicial authorities in the home Member State of a credit institution can authorise the implementation of reorganisation measures or the opening of winding up proceedings in respect of that credit institution, including in respect of its branches in other Member States.
The principle purposes of the Directive are:
The Directive is due to be implemented on 5th May 2004 and will be implemented in UK law through Regulations in a statutory instrument.
The Consultation is available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
