1.Member States shall ensure that a close-out netting provision can take effect in accordance with its terms:
(a)1. Member States shall ensure that a close-out netting provision can take effect in accordance with its terms: (a) notwithstanding the commencement or continuation of winding-up proceedings or reorganisation measures in respect of the collateral provider and/or the collateral taker; and/or (b) notwithstanding any purported assignment, judicial or other attachment or other disposition of or in respect of such rights.
(b)notwithstanding any purported assignment, judicial or other attachment or other disposition of or in respect of such rights.
2.Member States shall ensure that the operation of a close-out netting provision may not be subject to any of the requirements that are mentioned in Article 4(4), unless otherwise agreed by the parties.