natgillin/translations-raw huggingface dataset:
The making of a compensation offer shall not constitute an admission of liability by the ECB or any other CB in respect of a technical malfunction of TARGET2 .
The making of a compensation offer shall not constitute an admission of liability by the ECB or any other CB in respect of a technical malfunction of TARGET2 .
Conditions for compensation offers ( a ) A payer may submit a claim for an administration fee and interest compensation if , due to a technical malfunction of TARGET2 : ( i ) ( ii ) a payment order was not settled on the business day on which it was accepted ;
Conditions for compensation offers ( a ) A payer may submit a claim for an administration fee and interest compensation if , due to a technical malfunction of TARGET2 : ( i ) ( ii ) a payment order was not settled on the business day on which it was accepted ;
or during the migration period a payer can show that it intended to submit a payment order to TARGET2ECB , but was unable to do so due to the stop-sending status of a national RTGS system that had not yet migrated to TARGET2 .
or during the migration period a payer can show that it intended to submit a payment order to TARGET2ECB , but was unable to do so due to the stop-sending status of a national RTGS system that had not yet migrated to TARGET2 .
A payee may submit a claim for an administration fee if due to a technical malfunction of TARGET2 it did not receive a payment that it was expecting to receive on a particular business day .
A payee may submit a claim for an administration fee if due to a technical malfunction of TARGET2 it did not receive a payment that it was expecting to receive on a particular business day .
and / or in the case of all participants : it was technically impossible to have recourse to the money market or such refinancing was impossible on other , objectively reasonable grounds .
and / or in the case of all participants : it was technically impossible to have recourse to the money market or such refinancing was impossible on other , objectively reasonable grounds .
interest compensation shall be determined by applying a reference rate to be fixed from day to day .
interest compensation shall be determined by applying a reference rate to be fixed from day to day .
The reference rate shall be applied to the amount of the payment order not settled as a result of the technical malfunction of TARGET2 for each day in the period from the date of the actual or , in relation to payment orders referred to in paragraph 2 ( a )( ii ) , intended submission of the payment order until the date on which the payment order was or could have been successfully settled .
The reference rate shall be applied to the amount of the payment order not settled as a result of the technical malfunction of TARGET2 for each day in the period from the date of the actual or , in relation to payment orders referred to in paragraph 2 ( a )( ii ) , intended submission of the payment order until the date on which the payment order was or could have been successfully settled .
and no interest compensation shall be payable if and in so far as funds resulting from non-settled payment orders were placed in the market or used to fulfil minimum reserve requirements .
and no interest compensation shall be payable if and in so far as funds resulting from non-settled payment orders were placed in the market or used to fulfil minimum reserve requirements .
( iii )
( iii )
8.9.2007 ( b ) CS
8.9.2007 EN ( b )
Úřední věstník Evropské unie With respect to a compensation offer for a payee : ( i ) the administration fee shall be EUR 50 for the first non-settled payment order , EUR 25 for each of the next four such payment orders and EUR 12,50 for each further such payment order .
Official Journal of the European Union With respect to a compensation offer for a payee : ( i ) the administration fee shall be EUR 50 for the first non-settled payment order , EUR 25 for each of the next four such payment orders and EUR 12,50 for each further such payment order .
the method set out in subparagraph ( a )( ii ) for calculating interest compensation shall apply except that interest compensation shall be payable at a rate equal to the difference between the marginal lending rate and the reference rate , and shall be calculated on the amount of any recourse to the marginal lending facility occurring as a result of the technical malfunction of TARGET2 .
the method set out in subparagraph ( a )( ii ) for calculating interest compensation shall apply except that interest compensation shall be payable at a rate equal to the difference between the marginal lending rate and the reference rate , and shall be calculated on the amount of any recourse to the marginal lending facility occurring as a result of the technical malfunction of TARGET2 .
L 237/95
L 237/95
Within four weeks of a technical malfunction of TARGET2 , participants shall submit their claim form ( s ) to the ECB .
Within four weeks of a technical malfunction of TARGET2 , participants shall submit their claim form ( s ) to the ECB .
Unless otherwise decided by the ECB 's Governing Council and communicated to the participants , all received claims shall be assessed no later than 14 weeks after the technical malfunction of TARGET2 occurs .
Unless otherwise decided by the ECB 's Governing Council and communicated to the participants , all received claims shall be assessed no later than 14 weeks after the technical malfunction of TARGET2 occurs .
The ECB shall communicate the result of the assessment referred to in subparagraph ( c ) to the relevant participants .
The ECB shall communicate the result of the assessment referred to in subparagraph ( c ) to the relevant participants .
The ECB shall make compensation payments on receipt of a participant 's letter of acceptance of compensation .
The ECB shall make compensation payments on receipt of a participant 's letter of acceptance of compensation .
L 237/96
L 237/96
Úřední věstník Evropské unie Appendix III TERMS OF REFERENCE FOR CAPACITY AND COUNTRY OPINIONS Terms of reference for capacity opinions for participants in TARGET2
Official Journal of the European Union Appendix III TERMS OF REFERENCE FOR CAPACITY AND COUNTRY OPINIONS Terms of reference for capacity opinions for participants in TARGET2
DOCUMENTS EXAMINED For the purposes of this Opinion , we have examined : ( 1 ) a certified copy of the [ specify relevant constitutional document ( s )] of the Participant such as is / are in effect on the date hereof ;
DOCUMENTS EXAMINED For the purposes of this Opinion , we have examined : ( 1 ) a certified copy of the [ specify relevant constitutional document ( s )] of the Participant such as is / are in effect on the date hereof ;
[ if applicable ] an extract from the [ specify relevant company register ] and [ if applicable ] [ register of credit institutions or analogous register ] ;
[ if applicable ] an extract from the [ specify relevant company register ] and [ if applicable ] [ register of credit institutions or analogous register ] ;
[ to the extent applicable ] a copy of the Participant 's licence or other proof of authorisation to provide banking , investment , funds transfer or other financial services in [ jurisdiction ] ;
[ to the extent applicable ] a copy of the Participant 's licence or other proof of authorisation to provide banking , investment , funds transfer or other financial services in [ jurisdiction ] ;
[ if applicable ] a copy of a resolution adopted by the board of directors or the relevant governing body of the Participant on [ insert date ] , [ insert year ] , evidencing the Participant 's agreement to adhere to the System Documents , as defined below ;
[ if applicable ] a copy of a resolution adopted by the board of directors or the relevant governing body of the Participant on [ insert date ] , [ insert year ] , evidencing the Participant 's agreement to adhere to the System Documents , as defined below ;
and [ specify all powers of attorney and other documents constituting or evidencing the requisite power of the person or persons signing the relevant System Documents ( as defined below ) on behalf of the Participant ] ;
and [ specify all powers of attorney and other documents constituting or evidencing the requisite power of the person or persons signing the relevant System Documents ( as defined below ) on behalf of the Participant ] ;
and all other documents relating to the Participant 's constitution , powers , and authorisations necessary or appropriate for the provision of this Opinion ( hereinafter the « Participant Documents ') .
and all other documents relating to the Participant 's constitution , powers , and authorisations necessary or appropriate for the provision of this Opinion ( hereinafter the « Participant Documents ') .
For the purposes of this Opinion , we have also examined : ( 1 ) ( 2 ) the terms and conditions of TARGET2-ECB dated [ insert date ] ( hereinafter the « Rules ') ;
For the purposes of this Opinion , we have also examined : ( 1 ) ( 2 ) the terms and conditions of TARGET2-ECB dated [ insert date ] ( hereinafter the « Rules ') ;
and [...
and [...
8.9.2007 II .
8.9.2007 II .
CS ASSUMPTIONS
EN ASSUMPTIONS
L 237/97
L 237/97
For the purposes of this Opinion we have assumed in relation to the Documents that : ( 1 ) ( 2 ) the System Documents with which we have been provided are originals or true copies ;
For the purposes of this Opinion we have assumed in relation to the Documents that : ( 1 ) ( 2 ) the System Documents with which we have been provided are originals or true copies ;
the terms of the System Documents and the rights and obligations created by them are valid and legally binding under the laws of the Federal Republic of Germany by which they are expressed to be governed , and the choice of the laws of the Federal Republic of Germany to govern the System Documents is recognised by the laws of the Federal Republic of Germany ;
the terms of the System Documents and the rights and obligations created by them are valid and legally binding under the laws of the Federal Republic of Germany by which they are expressed to be governed , and the choice of the laws of the Federal Republic of Germany to govern the System Documents is recognised by the laws of the Federal Republic of Germany ;
the Participant Documents are within the capacity and power of and have been validly authorised , adopted or executed and , where necessary , delivered by the relevant parties ;
the Participant Documents are within the capacity and power of and have been validly authorised , adopted or executed and , where necessary , delivered by the relevant parties ;
and the Participant Documents are binding on the parties to which they are addressed , and there has been no breach of any of their terms .
and the Participant Documents are binding on the parties to which they are addressed , and there has been no breach of any of their terms .
The Participant has all the requisite corporate powers to execute and perform the rights and obligations under the System Documents to which it is party .
The Participant has all the requisite corporate powers to execute and perform the rights and obligations under the System Documents to which it is party .
The adoption or execution and the performance by the Participant of the rights and obligations under the System Documents to which the Participant is party will not in any way breach any provision of the laws or regulations of [ jurisdiction ] applicable to the Participant or the Participant Documents .
The adoption or execution and the performance by the Participant of the rights and obligations under the System Documents to which the Participant is party will not in any way breach any provision of the laws or regulations of [ jurisdiction ] applicable to the Participant or the Participant Documents .
No additional authorisations , approvals , consents , filings , registrations , notarisations or other certifications of or with any court or governmental , judicial or public authority that is competent in [ jurisdiction ] are required by the Participant in connection with the adoption , validity or enforceability of any of the System Documents or the execution or performance of the rights and obligations thereunder .
No additional authorisations , approvals , consents , filings , registrations , notarisations or other certifications of or with any court or governmental , judicial or public authority that is competent in [ jurisdiction ] are required by the Participant in connection with the adoption , validity or enforceability of any of the System Documents or the execution or performance of the rights and obligations thereunder .
The Participant has taken all necessary corporate action and other steps necessary under the laws of [ jurisdiction ] to ensure that its obligations under the System Documents are legal , valid and binding
The Participant has taken all necessary corporate action and other steps necessary under the laws of [ jurisdiction ] to ensure that its obligations under the System Documents are legal , valid and binding
Terms of reference for country opinions for non-EEA participants in TARGET2 The European Central Bank Kaiserstrasse 29 D-60311 Frankfurt am Main Germany TARGET2-ECB [ location ] , [ date ] Dear Sir or Madam , We have been asked as [ external ] legal advisers to [ specify name of Participant or branch of Participant ] ( the Participant ) in respect of issues arising under the laws of [ jurisdiction in which the Participant is established ;
Terms of reference for country opinions for non-EEA participants in TARGET2 The European Central Bank Kaiserstrasse 29 D-60311 Frankfurt am Main Germany TARGET2-ECB [ location ] , [ date ] Dear Sir or Madam , We have been asked as [ external ] legal advisers to [ specify name of Participant or branch of Participant ] ( the Participant ) in respect of issues arising under the laws of [ jurisdiction in which the Participant is established ;
hereinafter the « jurisdiction '] to provide this Opinion under the laws of [ jurisdiction ] in connection with the participation of the Participant in a system
hereinafter the « jurisdiction '] to provide this Opinion under the laws of [ jurisdiction ] in connection with the participation of the Participant in a system
L 237/98
L 237/98
which is a component of TARGET2 ( hereinafter the « System ') .
which is a component of TARGET2 ( hereinafter the « System ') .
DOCUMENTS EXAMINED For the purposes of this Opinion , we have examined the documents listed below and such other documents as we have deemed necessary or appropriate : ( 1 ) ( 2 ) the terms and conditions of TARGET2-ECB dated [ insert date ] ( hereinafter the « Rules ') ;
DOCUMENTS EXAMINED For the purposes of this Opinion , we have examined the documents listed below and such other documents as we have deemed necessary or appropriate : ( 1 ) ( 2 ) the terms and conditions of TARGET2-ECB dated [ insert date ] ( hereinafter the « Rules ') ;
and any other document governing the System and / or the relationship between the Participant and other participants in the System , and between the participants in the System and the ECB .
and any other document governing the System and / or the relationship between the Participant and other participants in the System , and between the participants in the System and the ECB .
the terms of the System Documents and the rights and obligations created by them are valid and legally binding under the laws of the Federal Republic of Germany , by which they are expressed to be governed , and the choice of the laws of the Federal Republic of Germany to govern the System Documents is recognised by the laws of the Federal Republic of Germany ;
the terms of the System Documents and the rights and obligations created by them are valid and legally binding under the laws of the Federal Republic of Germany , by which they are expressed to be governed , and the choice of the laws of the Federal Republic of Germany to govern the System Documents is recognised by the laws of the Federal Republic of Germany ;
the participants in the System through which any payment orders are sent or payments are received , or through which any rights or obligations under the System Documents are executed or performed , are licensed to provide funds transfer services , in all relevant jurisdictions ;
the participants in the System through which any payment orders are sent or payments are received , or through which any rights or obligations under the System Documents are executed or performed , are licensed to provide funds transfer services , in all relevant jurisdictions ;
and the documents submitted to us in copy or as specimens conform to the originals .
and the documents submitted to us in copy or as specimens conform to the originals .
OPINION Based on and subject to the foregoing , and subject in each case to the points set out below , we are of the opinion that :
OPINION Based on and subject to the foregoing , and subject in each case to the points set out below , we are of the opinion that :
Úřední věstník Evropské unie In addition to Insolvency Proceedings , the Participant , any of its assets , or any branch it may have in [ jurisdiction ] may become subject in [ jurisdiction ] to [ list any applicable moratorium , receivership , or any other proceedings as a result of which payments to and / or from the Participant may be suspended , or limitations can be imposed in relation to such payments , or similar proceedings in original language and English translation ] ( hereinafter collectively referred to as « Proceedings ') .
Official Journal of the European Union In addition to Insolvency Proceedings , the Participant , any of its assets , or any branch it may have in [ jurisdiction ] may become subject in [ jurisdiction ] to [ list any applicable moratorium , receivership , or any other proceedings as a result of which payments to and / or from the Participant may be suspended , or limitations can be imposed in relation to such payments , or similar proceedings in original language and English translation ] ( hereinafter collectively referred to as « Proceedings ') .
L 237/99
L 237/99
In particular , we are of the opinion that :
In particular , we are of the opinion that :
c Remedies in the event of default [ Where applicable to the Participant , the provisions contained in Article 30 of the Rules regarding accelerated performance of claims which have not yet matured , the set-off of claims for using the deposits of the Participant , the enforcement of a pledge , suspension and termination of participation , claims for default interest , and termination of agreements and transactions ( Articles 27-31 of the Rules ) are valid and enforceable under the laws of [ jurisdiction ] .
c Remedies in the event of default [ Where applicable to the Participant , the provisions contained in Article 30 of the Rules regarding accelerated performance of claims which have not yet matured , the set-off of claims for using the deposits of the Participant , the enforcement of a pledge , suspension and termination of participation , claims for default interest , and termination of agreements and transactions ( Articles 27-31 of the Rules ) are valid and enforceable under the laws of [ jurisdiction ] .
L 237/100
L 237/100
CS 3.4 .
EN 3.4 .
Voidable preferences
Voidable preferences
We are of the opinion that no obligation arising out of the System Documents , the performance thereof , or compliance therewith prior to the opening of any Insolvency Proceedings or Proceedings in respect of the Participant may be set aside in any such proceedings as a preference , voidable transaction or otherwise under the laws of [ jurisdiction ] .
We are of the opinion that no obligation arising out of the System Documents , the performance thereof , or compliance therewith prior to the opening of any Insolvency Proceedings or Proceedings in respect of the Participant may be set aside in any such proceedings as a preference , voidable transaction or otherwise under the laws of [ jurisdiction ] .
Collateral [ if applicable ] 3.6 .
Collateral [ if applicable ] 3.6 .
a Assignment of rights or deposit of assets for collateral purposes , pledge , repo and / or guarantee Assignments for collateral purposes will be valid and enforceable under the laws of [ jurisdiction ] .
a Assignment of rights or deposit of assets for collateral purposes , pledge , repo and / or guarantee Assignments for collateral purposes will be valid and enforceable under the laws of [ jurisdiction ] .
In the event that a guarantee from another legal entity is required for adherence of the Participant in the System , this guarantee will be binding on the guarantor and fully enforceable against it , without any limit with regard to the amount of the guarantee , whatever the Participant 's situation .
In the event that a guarantee from another legal entity is required for adherence of the Participant in the System , this guarantee will be binding on the guarantor and fully enforceable against it , without any limit with regard to the amount of the guarantee , whatever the Participant 's situation .
CS 3.7 .
EN 3.7 .
b Conformity with law
b Conformity with law
L 237/101
L 237/101
Neither the execution and performance of the rights and obligations under the System Documents nor the submission , transmission or receipt of payment orders by a branch of the Participant will in any respect breach the laws of [ jurisdiction ] .
Neither the execution and performance of the rights and obligations under the System Documents nor the submission , transmission or receipt of payment orders by a branch of the Participant will in any respect breach the laws of [ jurisdiction ] .
L 237/102
L 237/102
Úřední věstník Evropské unie Appendix IV BUSINESS CONTINUITY AND CONTINGENCY PROCEDURE
Official Journal of the European Union Appendix IV BUSINESS CONTINUITY AND CONTINGENCY PROCEDURE
All references to specific times in this Appendix refer to European Central Bank time , i.e. the local time at the seat of the ECB .
All references to specific times in this Appendix refer to European Central Bank time , i.e. the local time at the seat of the ECB .
The following main business continuity and contingency processing measures shall be available in TARGET2 : ( i ) ( ii ) ( iii ) relocating the operation of the SSP to an alternative site ;
The following main business continuity and contingency processing measures shall be available in TARGET2 : ( i ) ( ii ) ( iii ) relocating the operation of the SSP to an alternative site ;
changing the SSP 's operating hours ;
changing the SSP 's operating hours ;
and initiating contingency processing of very critical and critical payments , as defined in paragraph 6 ( c ) and ( d ) respectively .
and initiating contingency processing of very critical and critical payments , as defined in paragraph 6 ( c ) and ( d ) respectively .
In relation to business continuity and contingency processing measures , the ECB shall have full discretion regarding whether and which measures are adopted to settle payment orders .
In relation to business continuity and contingency processing measures , the ECB shall have full discretion regarding whether and which measures are adopted to settle payment orders .
In particular , communications to participants shall include the following information : ( i ) ( ii ) ( iii ) ( iv ) ( b ) a description of the event ;
In particular , communications to participants shall include the following information : ( i ) ( ii ) ( iii ) ( iv ) ( b ) a description of the event ;
the anticipated delay in processing ( if known ) ;
the anticipated delay in processing ( if known ) ;
information on the measures already taken ;
information on the measures already taken ;
and the advice to participants .
and the advice to participants .
In addition , the ECB may notify participants of any other existing or anticipated event which has the potential to affect the normal operation of TARGET2 .
In addition , the ECB may notify participants of any other existing or anticipated event which has the potential to affect the normal operation of TARGET2 .