S.L. 403.24 Art. 10ADesignation of the competent authority and obligation of Member States to entrust a body to provide compensation to injured parties.

(1) Pursuant to:

(a) Article 10a(1) and 25a(1) of the Motor Insurance

Directive, wherein a body shall be set up or authorised and entrusted with the task of providing compensation in terms of Article 10a and 25a of the Motor Insurance

Directive, at least up to the limits of the insurance obligation, for damage to property or personal injuries caused by a vehicle insured by an insurance undertaking, from the moment when the insurance undertaking is subject to winding up proceedings as defined in Article 268(1), point (d) of the Solvency II Directive; and

(b) Article 10a(13)(b) and 25a(13)(b) of the Motor Insurance Directive, whereby an entity shall be designated and empowered to negotiate and conclude an agreement to which the body shall become a party to when it is set up or authorised, the competent authority is hereby being designated as the entity empowered to negotiate and conclude an agreement by 23 December 2023.

(2) The body to be set up for the purposes of Article 10a(1) and 25a(1) aforesaid shall become a party to such an agreement once such body is set up or authorised.