S.L. 330.9 Art. 65Power to require the provision of services and facilities.

(1) The Resolution Committee shall have the power to require an institution under resolution, or any of its group entities, to provide any services or facilities that are necessary to enable a recipient to operate effectively the business transferred to it: Provided that this sub-regulation shall apply even where the institution under resolution or relevant group entity has entered into normal insolvency proceedings.

(2) The Resolution Committee shall have powers to enforce obligations imposed, pursuant to sub-regulation (1), on group entities established in their territory by European resolution authorities in other Member States.

(3) The services and facilities referred to in sub-regulations (1) and (2) are restricted to operational services and facilities and do not include any form of financial support.

(4) The services and facilities provided in accordance with sub-regulations (1) and (2) shall be on the following terms:

(a) where the services and facilities were provided under an agreement to the institution under resolution immediately before the 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.