art_60__para_1

1. Member States shall ensure that there is appropriate protection for liabilities secured under a security arrangement to prevent one or more of the following: the transfer of assets against which the liability is secured, unless that liability and benefit of the security are also transferred; the transfer of a secured liability, unless the benefit of the security are also transferred; the transfer of the benefit of the security, unless the secured liability is also transferred; the modification or termination of a security arrangement through the use of ancillary powers, where the effect of that modification or termination would be that the liability ceases to be secured.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-14 · Text as adopted (Official Journal); later amendments are not incorporated in this text.