S.L. 403.15 Art. 27Protection of third party purchasers.

The following law shall be applicable where, by an act concluded after the adoption of a reorganisation measure or commencement of winding-up proceedings, the Maltese insurance undertaking concerned disposes, for consideration, of any of the following -

(a) in relation to an immovable asset, the law of the Member State or EEA State where the immovable is situated;

(b) in relation to a ship or an aircraft subject to registration in a public register, the law of the Member State or EEA State under the authority of which the register is kept;

(c) in relation to transferable or other securities whose existence or transfer presupposes entry into a register or account laid down by law or which are placed in a central deposit system governed by the law of a Member State or EEA State, the law of the Member State or EEA State under the authority of which the register, account or system is kept.