Article 1 | SFD | Directive 98/26/EC

In force

Initial Legal Act

Amendments (1)

There is currently no Level 2 legal act based on or specifying Article 1.

Article 1 - Directive 98/26/EC (SFD)

Article 1

The provisions of this Directive shall apply to:

(a)	any system as defined in Article 2(a), governed by the law of a Member State and operating in any currency, the ecu or in various currencies which the system converts one against another,

(b)	any participant in such a system;

(c)

collateral security provided in connection with:

—	participation in a system, or

—	operations of the central banks of the Member States in their functions as central banks.

SECTION I - SCOPE AND DEFINITIONS (Article 1-2)Article 1 Article 2 Q&A

SECTION II - NETTING AND TRANSFER ORDERS (Article 3-5)

SECTION III - PROVISIONS CONCERNING INSOLVENCY PROCEEDINGS (Article 6-8)

SECTION IV - INSULATION OF THE RIGHTS OF HOLDERS OF COLLATERAL SECURITY FROM THE EFFECTS OF THE INSOLVENCY OF THE PROVIDER (Article 9)

SECTION V - FINAL PROVISIONS (Article 10-14)