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Directive (EU) 2025/1 of the European Parliament and of the Council of 27 November 2024 establishing a framework for the recovery and resolution of insurance and reinsurance undertakings and amending Directives 2002/47/EC, 2004/25/EC, 2007/36/EC, 2014/59/EU and (EU) 2017/1132 and Regulations (EU) No 1094/2010, (EU) No 648/2012, (EU) No 806/2014 and (EU) 2017/1129 (Text with EEA relevance) article 45 CELEX: 32025L0001 Powers concerning the provision of operational services and facilities
1. Member States shall ensure that resolution authorities have the power to require an undertaking under resolution, or any of its group entities, to provide any operational services or facilities that are necessary to enable a recipient to operate the business transferred to it effectively, including where the undertaking under resolution or relevant group entity has entered into normal insolvency proceedings. |
Directive (EU) 2025/1 of the European Parliament and of the Council of 27 November 2024 establishing a framework for the recovery and resolution of insurance and reinsurance undertakings and amending Directives 2002/47/EC, 2004/25/EC, 2007/36/EC, 2014/59/EU and (EU) 2017/1132 and Regulations (EU) No 1094/2010, (EU) No 648/2012, (EU) No 806/2014 and (EU) 2017/1129 (Text with EEA relevance) article 45 CELEX: 32025L0001 2. Member States shall ensure that resolution authorities have the powers necessary to ensure that the goods and services provided, directly or indirectly, by an essential service provider to an undertaking under resolution can continue to be provided by it after resolution action has been taken where: (a) the assets of the essential service provider are or there are objective elements to support a determination that the assets of the essential service provider will, in the near future, be less than its liabilities; or (b) the essential service provider is unable to pay its debts or other liabilities as they fall due, or there are objective elements to support a determination that the essential service provider will, in the near future, be in such a situation. 3. Member States shall ensure that their resolution authorities have powers to enforce obligations imposed, pursuant to paragraph 1, on group entities established in their territory by resolution authorities established in other Member States. |
Directive (EU) 2025/1 of the European Parliament and of the Council of 27 November 2024 establishing a framework for the recovery and resolution of insurance and reinsurance undertakings and amending Directives 2002/47/EC, 2004/25/EC, 2007/36/EC, 2014/59/EU and (EU) 2017/1132 and Regulations (EU) No 1094/2010, (EU) No 648/2012, (EU) No 806/2014 and (EU) 2017/1129 (Text with EEA relevance) article 45 CELEX: 32025L0001 4. The operational services and facilities provided in accordance with paragraphs 1 and 3 shall be on the following terms: (a) where the operational services and facilities were provided to the undertaking under resolution under an agreement before resolution action was taken and for the duration of that agreement, on the same terms; (b) where there is no agreement or where the agreement has expired, on reasonable terms. |