Article 58

Path:
Bank Recovery and Resolution Directive (BRRD) > TITLE IV > CHAPTER IV > Section 5 > Subsection 4 > Article 58
Title:
Article 58
Description: 
Temporary public ownership tool
Main content: 
 
2. For that purpose a Member State may make one or more share transfer orders in which the transferee is:
 
(a) a nominee of the Member State; or
 
(b) a company wholly owned by the Member State.
 
3. Member States shall ensure that institutions or entities referred to in point (b), (c) or (d) of Article 1(1) subject to the temporary public ownership tool in accordance with this Article are managed on a commercial and professional basis and that they are transferred to the private sector as soon as commercial and financial circumstances allow.
Subject areas: