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Article 20

1. The Statutes of an EDIC shall determine the procedure to be followed for its winding-up following a decision of the assembly of members to that effect. The winding-up of an EDIC may include the transfer of its activities to another legal entity. 2. The insolvency rules of the Member State where an EDIC has its statutory seat shall apply in the event that an EDIC is unable to pay its debts.

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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.