(40)In order to avoid distortions of competition, public credit institutions must not include in their own funds guarantees granted them by the Member States or local authorities.
◷
New version applies from 13/04/2005 — introduced by Directive 2005/1/EC.
88 provisions change.
Later versions: 29/03/2006, 20/07/2006.
Recital 40 changes in this version: compare with the current text.