Subsection 4: Provisions relating to the establishment of a relay facility

The decision of the collège de résolution to extend, pursuant to Article L. 311-39, the deadline for withdrawing the authorisation of the bridge institution, shall be based on an assessment of the situation of the bridge institution and the market conditions and outlook justifying the extension of the activity of this institution.

When the authorisation of a bridge institution is withdrawn in accordance with article L. 311-39, any liquidation surplus reverts to the holders of the institution’s equity securities.

Where the assets and liabilities of several persons subject to resolution proceedings have been transferred to the same bridge institution, the winding-up proceedings referred to in Chapter VI of Title II of Book III shall apply separately to the assets and liabilities of each of these persons and not to the bridge institution itself. The assets concerned are identified individually in the accounts of the bridge facility. They are subject…