Within the limits of the amount of the debt secured and where necessary, with respect to the order indicated by the holder of the pledged account the realization of the pledge of this account shall take place;
1) For any sum of any money present in the pledged account directly by transfer of full ownership to the secured creditor of the pledge;
2) For financial bonds accepted for negotiation in the regulated market which the holder of the pledged account or failing that, the secured creditor of the pledge has chosen, by sale in the regulated market or by transfer of ownership of a determined quantity by the secured creditor.
The said quantity shall be determined by the secured creditor on the basis of the latest quotations available in the regulated market.
The holder of the pledged account shall bear the costs resulting from the realization of the security. The said costs shall be charged on the amount realized.
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 37
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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