Commission Decision of 26 February 2010 on State aid C 9/09 (ex NN 49/08, NN 50/08 and NN 45/08) implemented by the Kingdom of Belgium, the French Republic and the Grand Duchy of Luxembourg for Dexia SA (notified under document C(2010) 1180) (Only the French text is authentic) (Text with EEA relevance) (2010/606/EU) (c. 606)

Please note that the date you requested in the address for this web page is not an actual date upon which a change occurred to this item of legislation. You are being shown the legislation from , which is the first date before then upon which a change was made.

ANNEX I U.K. COMMITMENTS OF THE MEMBER STATES CONCERNED NOTIFIED TO THE COMMISSION ON 9 FEBRUARY 2010

Revision of the commitments U.K.

20. On the basis of a duly substantiated request by France, Belgium and Luxembourg, the Commission may: U.K.

(a)

authorise Dexia to delay the divestment of one or more assets referred to in point 13 above; or

(b)

authorise Dexia to substitute for the divestment of one or more assets referred to in point 13 above a divestment of assets representing an equivalent proportion of Dexia’s balance sheet; or

(c)

decide that one or more of the commitments set out above no longer applies;

(d)

take account of Dexia’s ability to cover its short-term funding need by mobilising its asset reserves eligible for repos if one or other of the indicators defined in point 5 is not achieved.

21. The Commission may take one of the decisions mentioned in the previous paragraph if it considers that such a decision is necessary, for example to maintain effective competition in the market or to restore financial stability in the event of a lasting financial or economic crisis, or if the trend in the economic environment, and notably the exchange rates, or accounting and prudential rules, so justify. U.K.