Article 5

Member States shall lay down detailed rules for the organisation, financing and operation of the guarantee institutions, complying with the following principles in particular:

1. the assets of the institutions must be independent of the employers’ operating capital and be inaccessible to proceedings for insolvency;
2. employers must contribute to financing, unless it is fully covered by the public authorities;
3. the institutions’ liabilities must not depend on whether or not obligations to contribute to financing have been fulfilled.