[eu]cite

Home› Banking & Credit Institutions› SAG-EN

Part 9 · Legal Remedies and Exclusion of Other Measures › Section 179

Legal protection

(1) No objection procedure is conducted against a resolution action. An action for annulment against resolution actions of the resolution authority, including the threat and imposition of coercive measures under this Act, has no suspensive effect.
(1a) Objections and actions for annulment against administrative acts, including the threat and imposition of coercive measures, based on section 1(2), sections 12, 14, 16, 36 to 39, 42, 49 to 54, 59 to 60a, and 152d have no suspensive effect.
(2) A resolution action may be challenged, within one month of notification, before the Higher Administrative Court with jurisdiction for the seat of the resolution authority, at first and last instance. Ancillary provisions to a resolution action may not be challenged in isolation.
(3) The effects of the order that shape the legal position remain unaffected by the setting aside of a resolution action. The removal of the consequences of enforcement may not be claimed in that regard. The second sentence does not apply where removal of the consequences 1. does not jeopardise the resolution objectives, 2. would not threaten interests of third parties that merit protection, and 3. is not impossible.
(4) Insofar as removal of the consequences of enforcement is excluded under subsection (3), second sentence, the persons affected are entitled to a claim for compensation for the disadvantages arising from the resolution action.

←→ also move between sections