Database on German and European Economic Law

 Directive 2001/17/EC

I. Description

The insurance directives providing a single authorisation with a Community scope for the insurance undertakings do not contain coordination rules in the event of winding-up proceedings. Insurance undertakings as well as other financial institutions are expressly excluded from the scope of Council Regulation (EC) No 1346/2000 of 29 May 2000 on insolvency proceedings. It is in the interest of the proper functioning of the internal market and of the protection of creditors that coordinated rules are established at Community level for winding-up proceedings in respect of insurance undertakings.

Coordination rules should also be established to ensure that the reorganisation measures, 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 much as possible a winding-up situation, produce full effects throughout the Community. The reorganisation measures covered by this Directive are those affecting pre-existing rights of parties other than the insurance undertaking itself. The measures provided for in Article 20 of Directive 73/239/EEC and Article 24 of Directive 79/267/EEC should be included within the scope of this Directive provided that they comply with the conditions contained in the definition of reorganisation measures.

II. General Information

Title

Directive 2001/17/EC of the European Parliament and of the Council of 19 March 2001 on the reorganisation and winding-up of insurance undertakings

Status
Repealed
Directive
2001/17/EC
Source
O.J. EC No L (Legislation), Edition 110, Year 2001, p.28
Adoption
03/19/2001
Promulgation
04/20/2001
Character
Regular Act
Legal Basis
Art. 47 Abs. 2 und Art. 55 EC
Legislative Procedure
Codecision procedure
Background

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text :
Directive 2001/17/EC of the European Parliament and of the Council of 19 March 2001 on the reorganisation and winding-up of insurance undertakings

  2001/17/EC

Beschluss:
03/19/2001 (A)
Verkuendung:
04/20/2001 (P)
(A) Adoption | (P) Promulgation

IV. Umsetzung in den Mitgliedstaaten

1. Implementation in Germany

Legend

Legislative Act Status

Documents

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Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Versions
IV. Umsetzung in den Mitgliedstaaten
1. Implementation in Germany