S.L. 370.30 Art. 2Purpose.

(1) The purpose of these regulations is to implement the provisions of Directive 2001⁄24⁄EC of the European Parliament and of the Council of 4th April, 2001 on the reorganisation and winding-up of investment firms, as rendered applicable to investment firms by Article 117 of Directive 2014/59/EU of the European Parliament and of the Council of 15th May 2014, establishing a framework for the recovery and resolution of credit institutions and investment firms, and shall be interpreted and applied accordingly.

(2) In the event that there is a conflict between any of these regulations and the provisions of the Directives mentioned in sub-regulation (1), the provisions of the Directives shall prevail.