Levying of contributions by recognised institutional protection schemes

(1) The levying of contributions by a recognised institutional protection scheme is determined by its articles.
(2) The articles must provide at least that
1. the financial means necessary to reach the target level under section 17(2) are raised through contributions to the protection scheme at least once a year;
2. special contributions are to be levied for the case that the available financial means are insufficient to compensate depositors in a compensation event or to fulfil the obligations arising from liability under section 145 of the Recovery and Resolution Act in a resolution;
3. several special contributions and special payments may be levied in a contribution year only under the conditions of section 27(4), second and third sentences;
4. the levying of a special contribution or special payment may be deferred, in accordance with section 27(5), where there is a risk that a CRR credit institution would, as a result of the totality of payments to be made to the recognised institutional protection scheme, no longer be able to meet its obligations towards its creditors;
5. the CRR credit institutions belonging to the scheme are required to make their contributions on first demand and to give a corresponding guarantee declaration.
(3) The articles may provide for the levying of minimum contributions from CRR credit institutions. The recognised institutional protection scheme regulates in its articles the details of the assessment and levying of the annual contributions and special contributions. Where payment commitments of a CRR credit institution towards the institutional protection scheme are taken into account under section 18(2) and (3), the requirements for those payment commitments must be regulated in the articles.
(4) BaFin notifies the European Banking Authority of the provisions on the levying of contributions contained in the articles.