(1) A crisis prevention measure or a crisis management measure, including an event directly linked to the application of such a measure, is not regarded, in respect of the institution or the group and all group entities, as an enforcement event or termination event within the meaning of Directive 2002/47/EC of the European Parliament and of the Council, or as insolvency proceedings within the meaning of Directive 98/26/EC of the European Parliament and of the Council, where the principal obligations under the contract, including payment and performance obligations, and the obligation to provide collateral, continue to be satisfied. A suspension or restriction under sections 66a and 82 to 84 does not constitute non-performance of principal contractual obligations.
(2) Where third-country resolution proceedings are recognised under section 169, those proceedings are, for the purposes of this provision, regarded as a crisis management measure.
(3) A crisis prevention measure, a measure under section 66a, or a crisis management measure, including an event directly linked to the application of such a measure, does not entitle any party to 1. exercise rights of termination, suspension, amendment, retention, set-off, or netting against an institution or group entity, 2. obtain property of the institution or group entity concerned, exercise control over it, or enforce a security interest, or 3. impair any contractual rights of the institution or group entity concerned. This applies only where the principal obligations under the contract, including payment and performance obligations, and the obligation to provide collateral, continue to be satisfied. Subsection (1), second sentence, applies correspondingly.
(4) The rights referred to in subsection (3), first sentence, may be exercised where they arose on account of an event other than a crisis prevention measure, a crisis management measure, or an event directly linked to the application of such a measure.
(5) No rights may be derived from agreements that conflict with subsections (1) and (3).
Subdivision 2
Recourse to Deposit Guarantee Schemes