Winding-up of current business; exceptions; prohibition of compulsory enforcement

(1) After a prohibition on disposal and payment has been issued under section 79(1), second sentence, no. 4, the securities institution may wind down the business current at the time the prohibition was issued, and enter into new business insofar as necessary for that winding-up, where and insofar as the competent compensation scheme or other guarantee scheme makes available the funds necessary to carry this out, or undertakes to reimburse the securities institution for the reductions in assets arising from these transactions overall, insofar as this is necessary for full satisfaction of all claims arising from outstanding securities liabilities.
(2) The Bundesanstalt may further permit exceptions from the prohibition on disposal and payment under section 79(1), second sentence, no. 4, insofar as this is appropriate for the conduct of the business or the administration of the securities institution. In doing so it may in particular order the reimbursement of payments accepted, or received by the securities institution, contrary to an order under section 79(1), second sentence, no. 6. It may set a threshold amount up to which a special commissioner may permit exceptions from the prohibition on disposal and payment.
(3) For as long as measures under section 79(1), second sentence, nos. 4 to 6 continue, compulsory enforcement, attachment and interim injunctions against the assets of the securities institution are not permissible. The provisions of the Insolvency Code protecting payment and securities settlement systems, including interoperable systems, and financial collateral and collateral of central banks in rem, apply correspondingly where a measure under section 79(1), second sentence, nos. 4 to 6 is ordered. The ordering of protective measures under section 21 of the Insolvency Code does not affect the validity of the reimbursement of a payment accepted, or received, contrary to an order under section 79(1), second sentence, no. 6, through a system or an intermediary, or received by the securities institution, the reimbursement of which the Bundesanstalt has ordered under subsection (2), second sentence.