S.L. 330.9 Art. 73Treatment of shareholders and creditors in the case of partial transfers and application of the bail-in tool.

The Resolution Committee shall ensure that, where one or more resolution tools have been applied and, in particular for the purposes of regulation 75:

(a) except where paragraph (b) applies, where the

Resolution Committee transfers only parts of the rights, assets and liabilities of the institution under resolution, the shareholders and those creditors whose claims have not been transferred, receive in satisfaction of their claims at least as much as what they would have received if the institution under resolution had been wound up under normal insolvency proceedings at the time when the decision referred to in regulation 82 was taken;

(b) where the Resolution Committee applies the bail-in tool, the shareholders and creditors whose claims have been written down or converted to equity do not incur greater losses than they would have incurred if the institution under resolution had been wound up under normal insolvency proceedings immediately at the time when the decision referred to in regulation 82 was taken.