(b)

a description of the policy of the contingency fund, including: an explanation of the source of the money paid into the fund; an explanation of how the fund is governed; an explanation concerning whom the money belongs to; the considerations the contingency fund operator takes into account when deciding whether or how to exercise its discretion to pay out from the fund, including: whether or not the fund has sufficient money to pay; and that the contingency fund operator has absolute discretion in any event not to pay or to decide the amount of the payment; an explanation of the process for considering whether to make a discretionary payment from the fund; and a description of how the money paid into the fund will be treated in the event of insolvency of the contingency fund operator.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-12 · Text as adopted (Official Journal); later amendments are not incorporated in this text.