Art. 51

(Art. 55 FinMIA)

1. Portability is ensured if:
   1. the transfer is enforceable in the relevant jurisdictions; and
   2. the other participant has an obligation towards the indirect participant to assume the latter's collateral and positions.
2. If a transfer cannot take place by the deadline set by the central counterparty, the central counterparty may take all precautions in accordance with its regulations to actively manage the risks with respect to the positions in question, including the liquidation of assets and collateral of the participant in default who holds this for the account of an indirect participant or its clients.