(1) A party to an intragroup financial support agreement may not be determined to conclude it by other group entities, including the superordinate undertaking, or by third parties.
(2) The parties may not conclude an intragroup financial support agreement where, at the time the contract is concluded, the conditions for early intervention under section 36(1) are already satisfied in respect of at least one party to the agreement.
(3) In an intragroup financial support agreement, the following support services may be agreed, either individually or alongside one another:
1. loans, or
2. security for the liabilities of the party receiving the support, in the form of personal guarantees or the provision of assets.
(4) An intragroup financial support agreement must specify
1. that the party receiving the support must provide consideration, and
2. the principles according to which the consideration is to be determined and calculated at the time the financial support is provided.
(5) The intragroup financial support agreement, including the principles for calculating the consideration, must satisfy the following principles:
1. the conditions for the provision of intragroup financial support must correspond at least to the conditions set out in section 30;
2. in concluding the agreement and in calculating the consideration for the provision of the financial support, each party acts in its own interest; direct and indirect benefits accruing to a party as a result of the provision of financial support may be taken into account;
3. each party providing financial support is given access, before the decision to provide financial support and before the calculation of the consideration to be provided for it, to all relevant information about the party receiving the support;
4. in calculating the consideration for the provision of financial support, information that is in the possession of the party providing the support by virtue of its membership of the group and is not known to the market may also be taken into account;
5. in calculating the consideration for the provision of financial support, it is not necessary to take into account every effect on market prices that is likely to be temporary and results from circumstances outside the group.
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Part 2 · Supervisory Provisions and Requirements for Recovery Preparation and Early Intervention › Chapter 2 · Intragroup Financial Support › Section 23
Permissibility and content of an intragroup financial support agreement
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