Insurance requirement

Mortgages held by Pfandbrief banks at the beginning of 19 July 2005 are not unsuitable for the cover of the mortgage Pfandbriefe issued by them on the ground that the building standing on the land is not insured under section 15, third sentence, no. 1. Loan claims secured by ship mortgages held by Pfandbrief banks at the beginning of 19 July 2005 are not unsuitable for the cover of the ship Pfandbriefe issued by them on the ground that the ship or ship under construction is not insured in the amount of the insurance requirement under section 23(1), first sentence.