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🔗 Back to Summary. 🇫🇷 French Version: 2022R2118_FR.19. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 18 – Funding policy ⬅️ | ➡️ Article 20 – Business continuity policy
Article 19 - Disbursement policy
The crowdfunding service provider shall have in place a policy to determine how all of the following elements are considered in the decision on proceeding to any disbursement from the contingency fund to investors:
(a)
updated available fund balance;
(b)
the share of the loans that have defaulted in a given portfolio;
(c)
the interest rates and maturity of the loans that have defaulted in a given portfolio;
(d)
the procedure to be followed when considering whether to make a discretionary payment from the contingency fund;
(e)
the circumstances in which the contingency fund may be activated for the pay-out;
(f)
the criteria to be considered in the event of competing or simultaneous claims of investors on the same defaulted loans.