(a)

Paragraph 3 is replaced by the following: ‘3. Where the account holder is not absolutely entitled to the sums held in an account, the person who is absolutely entitled shall be covered by the guarantee, provided that that person has been identified or is identifiable before the date on which a relevant administrative authority makes a determination as referred to in Article 2(1), point (8)(a), or a judicial authority makes a ruling as referred to in Article 2(1), point (8)(b). Without prejudice to Article 8c, in the case of funds held by an account holder on behalf of an absolutely entitled person in a separate account for professional purposes as defined by national law, and where those funds are insulated in accordance with national law in the interest of that person against the claims of other creditors of the account holder, the DGS shall not, when determining the covered amount due to the absolutely entitled person, take into account other deposits placed by that person with the same credit institution if that person is identified by that credit institution. Member States shall ensure that DGSs may repay covered deposits either to the account holder for the benefit of each absolutely entitled person, or to the absolutely entitled person directly.’ ;

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Source: EUR-Lex (Cellar) · retrieved 2026-10-08 · Text as adopted (Official Journal); later amendments are not incorporated in this text.