winding-up proceedings
Definitions over time (1)
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06/01/2010 – 09/12/2011 Article 268, Solvency II Directive Scope: Title IV
1. For the purpose of this Title the following definitions shall apply:
‘winding-up proceedings’ means collective proceedings involving the realisation of the assets of an insurance undertaking and the distribution of the proceeds among the creditors, shareholders or members as appropriate, which necessarily involve any intervention by the competent authorities, including where the collective proceedings are terminated by a composition or other analogous measure, whether or not they are founded on insolvency or are voluntary or compulsory;
Other definitions of this term in this act (1)
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