contents table
European Market Infrastructure Regulation (EMIR)
Article 87

Article 87 — Amendment to Directive 98/26/EC

  1. In Article 9(1) of Directive 98/26/EC, the following subparagraph is added:

    Where a system operator has provided collateral security to another system operator in connection with an interoperable system, the rights of the providing system operator to that collateral security shall not be affected by insolvency proceedings against the receiving system operator..

  2. Member States shall adopt and publish the laws, regulations and administrative provisions necessary to comply with point (1) by 17 August 2014. They shall forthwith inform the Commission thereof.

    When Member States adopt those measures, they shall contain a reference to Directive 98/26/EC or shall be accompanied by such reference on the occasion of their official publication. The methods of making such reference shall be laid down by Member States.