(118)It should be ensured that reorganisation measures which were adopted by the competent authority of a Member State in order to preserve or restore the financial soundness of an insurance undertaking and to prevent as far as possible a winding-up situation, produce full effects throughout the Community. However, the effects of any such reorganisation measures as well as winding-up proceedings vis-à-vis third countries should not be affected.
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New version applies from 09/12/2011 — introduced by Directive 2011/89/EU.
357 provisions change.
Later versions: 15/09/2012, 01/07/2013, 19/12/2013, 23/05/2014, 31/03/2015, 12/01/2017, 09/07/2018, 13/01/2019, 30/06/2021, 19/10/2021, 09/01/2024, 17/01/2025, 30/01/2027.
Recital 118 changes in this version: compare with the current text.