Article 5

Council Directive 80/987/EEC of 20 October 1980 on the approximation of the laws of the Member States relating to the protection of employees in the event of the insolvency of their employer · European Union

Member States shall lay down detailed rules for the organization, financing and operation of the guarantee institutions, complying with the following principles in particular: (a) the assets of the institutions shall be independent of the employers' operating capital and be inaccessible to proceedings for insolvency; employers shall contribute to financing, unless it is fully covered by the public authorities; the institutions' liabilities shall not depend on whether or not obligations to contribute to financing have been fulfilled. SECTION III Provisions concerning social security

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Source: EUR-Lex (Cellar) · retrieved 2026-11-08 · Text as adopted (Official Journal); later amendments are not incorporated in this text.