Version in force , Modified +239 −0§
Amended by Regulation (EU) 2019/834 32019R0834 on EUR-Lex (external, EUR-Lex)
Explanation, written by a model and checked against the cited text
A new paragraph 11 has been added stating that Member States' national insolvency laws shall not prevent a CCP from acting in accordance with Article 48(5), (6) and (7) with regard to the assets and positions recorded in accounts referred to in paragraphs 2 to 5 of Article 39.
The rest of Article 39, covering paragraphs 1 through 10, remains unchanged between the two versions.
Cited: Art. 39, v2 (external, EUR-Lex) · Art. 39, v1 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, before and after
Previous version, in force 17 June 2019 02012R0648-20190617 → this version, in force 18 December 2019 02012R0648-20191218
Article 39 Segregation and portability 1. A CCP shall keep separate records and accounts that shall enable it, at any time and without delay, to distinguish in accounts with the CCP the assets and positions held for the account of one clearing … 486 unchanged words … in another account. 10. Assets refer to collateral held to cover positions and include the right to the transfer of assets equivalent to that collateral or the proceeds of the realisation of any collateral, but does not include default fund contributions.11. Member States' national insolvency laws shall not prevent a CCP from acting in accordance with Article 48(5), (6) and (7) with regard to the assets and positions recorded in accounts as referred to in paragraphs 2 to 5 of this Article.