(c)

the investment firm has obtained an independent, written and reasoned legal opinion that, in the event of a legal challenge of the netting agreement, the investment firm’s claims and obligations would be equivalent to those referred to in point (a) under the following legal regime: the law of the jurisdiction in which the counterparty is incorporated; if a foreign branch of a counterparty is involved, the law of jurisdiction in which the branch is located; the law that governs the individual transactions included in the netting agreement; or the law that governs any contract or agreement necessary to effect the netting.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.