Initiation of proceedings on the substance of the matter
- Initiate main proceedings within time limit to keep your Preservation Order
Retained EU Law
2014
United Kingdom
Regulation (EU) No 655/2014 of the European Parliament and of the Council of 15 May 2014 establishing a European Account Preservation Order procedure to facilitate cross-border debt recovery in civil and commercial matters
At a glance
What's here
6 compliance obligations
Who this Act binds
Plus 3 non-business duties on Crown ministers, regulators, local authorities or tribunals — shown collapsed under each section below.
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Request for the obtaining of account information
Other duties (1) — Crown / regulator
- Creditors can request court to obtain bank account details of debtor Statutory regulator
Parallel applications
- Disclose other preservation applications and avoid duplicating court claims
Enforcement of the Preservation Order
Other duties (1) — Crown / regulator
- Competent authority must enforce European Account Preservation Order without delay Tribunal / Court
Duty of the creditor to request the release of over-preserved amounts
- Request release of over-preserved amounts from frozen accounts within 3 working days
Service on the debtor
Other duties (1) — Crown / regulator
- Court or creditor must serve Preservation Order on debtor within 3 working days Tribunal / Court
Browse 48 other sections — procedural / definitional / commencement
Subject matter
Scope
Cross-border cases
Definitions
Availability
Jurisdiction
Conditions for issuing a Preservation Order
Application for a Preservation Order
Taking of evidence
Ex parte procedure
Security to be provided by the creditor
Liability of the creditor
Interest and costs
Decision on the application for the Preservation Order
Time-limits for the decision on the application for a Preservation Order
Form and content of the Preservation Order
Duration of the preservation
Appeal against a refusal to issue the Preservation Order
Recognition and enforceability
Implementation of the Preservation Order
Declaration concerning the preservation of funds
Liability of the bank
Transmission of documents
Preservation of joint and nominee accounts
Amounts exempt from preservation
Ranking of the Preservation Order
Remedies of the debtor against the Preservation Order
Remedies of the debtor against enforcement of the Preservation Order
Other remedies available to the debtor and the creditor
Procedure for the remedies pursuant to Articles 33, 34 and 35
Right to appeal
Right to provide security in lieu of preservation
Right of third parties
Legalisation or other similar formality
Legal representation
Court fees
Costs incurred by the banks
Fees charged by authorities
Time frames
Relationship with national procedural law
Data protection
Relationship with other instruments
Languages
Information to be provided by Member States
Establishment and subsequent amendment of the forms
Committee procedure
Monitoring and review
Entry into force
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