Traduction de «winding-up a grouping » (Anglais → Français) :

(20) If a life insurer has, in a winding-up to which subsection 88(1) has applied, been wound-up into another corporation (referred to in this subsection as the “parent”), and immediately after the winding-up the parent carries on a life insurance business, in applying subsections (18) and (19) in computing the income of the life insurer and of the parent for particular taxation years that end on or after the first day (referred to in this subsection as the “start day”) on which assets of the life insurer were distributed to the parent on the winding-up,

3. Where a resolution authority concludes that it may not be feasible or credible to wind up the institution or group entities under normal insolvency proceedings, or that resolution action may otherwise be necessary in the public interest because winding up under normal insolvency proceedings would not meet the resolution objectives to the same extent, it shall identify a preferred resolution strategy which is appropriate for the institution or group on the basis of information provided by the institution or group pursuant to Article ...[+++] 11 of Directive 2014/59/EU and the criteria set out in this Regulation.

Pursuant to Article 32 of Directive 2014/59/EU, resolution action should only be taken when winding up an institution or group under normal insolvency proceedings would not be in the public interest, and therefore the assessment of resolvability should consider such winding up as an alternative to resolution action.

A group shall be deemed resolvable if it is feasible and credible for the resolution authorities to either wind up group entities under normal insolvency proceedings or to resolve group entities by applying resolution tools and powers to group entities without giving rise to significant adverse consequences for the financial systems, including circumstances of broader financial instability or system wide events, of the Member States in which entities belonging to a group are situated, or other Member States or the Union and with a view to ensuring the continuity of critical functions carried out by those entities, either because they can be easily separated ...[+++]in a timely manner or by other means.

A group shall be deemed to be resolvable if it is feasible and credible for the resolution authorities to either wind up group entities under normal insolvency proceedings or to resolve group entities by applying resolution tools and powers to group entities while avoiding to the maximum extent possible any significant adverse effect on the financial system, including in circumstances of broader financial instability or system wide events, of the Member States in which group entities are established, or other Member States or the Union and with a view to ensuring the continuity of critical functions carried out by the group entities, where they can be easily ...[+++] separated in a timely manner or by other means.

Regarding penalties, it introduces a principle of "aggravating circumstance" by providing that "terrorist offences" and certain offences linked to terrorism must be punishable by custodial sentences heavier than those imposable under national law for such offences in the absence of a terrorist intent, it sets the minimum level of the maximum penalty at 15 years for directing a terrorist group and 8 years for participation in a terrorist group, it enumerates a series of penalties that can be imposed on bodies corporate (in particular exclusion from entitlement to public benefits or aid, temporary or permanent disqualification from the pra ...[+++]ctice of commercial activities, placing under judicial supervision, judicial winding-up order and closure of establishments), it provides for a system of "repentis" by providing for specific circumstances in which Member States may reduce prison sentences where the terrorist renounces terrorist activity or provides the administrative or judicial authorities with information.