Cap. 618 чл. 14Further effects of a deposit liability transfer.

(1) A deposit liability transfer shall take effect:

(a) by virtue of the deposit liability transfer instrument and in accordance with such terms and conditions as may be set out therein;

(b) despite any restriction, prohibition, limitation, obligation or requirement arising by virtue of contract, law, or in any other way; and

(c) unless otherwise specified in the relevant deposit liability transfer instrument, free from any trust, liability or other encumbrance.

(2) Notwithstanding anything contained in any other law and without prejudice to the generality of sub-article (1), deposit liabilities and deposit assets of a transferring institution, as specified in a deposit liability transfer instrument and which are subject to a court order and, or any other order made in terms of the law by an entity empowered by law to issue such an order, including monitoring orders, freezing orders, investigation orders and attachment orders, shall nonetheless be transferred to the Fund by virtue of the deposit liability transfer instrument:

Provided that:

(a) the disclosure of the existence of an order by the transferring institution for the purposes of the transfer, shall not constitute a breach of the order or the provisions of any law requiring non-disclosure of the order;

(b) the transfer of such deposit liabilities and deposit assets to the Fund shall not constitute a breach of the order to which such deposit liabilities and deposit assets are subject;

(c) the transfer shall not extinguish, or in any way alter, the order to which such deposit liabilities and deposit assets are subject except to the extent that the order shall be deemed to have been addressed to the Fund instead of the credit institution;

(d) any such deposit liabilities and deposit assets transferred to the Fund shall be held by the Fund as subject to the terms of such orders to which they are subject; and

(e) the Fund shall give effect to such orders to which the transferred deposit liabilities and transferred deposit assets are subject.