Article 41 — Non-application or suspension of the duty to submit a request for the opening of insolvency proceedings

1. Member States may provide that the duty referred to in Article 40(1) does not apply to directors who are natural persons and are personally liable for all of the company’s debt. 2. Member States may provide that the duty referred to in Article 40(1) can be discharged by way of informing the public of the company’s insolvency through a notification in a public register, before the expiry of the time limit referred to in Article 40(2), in order to ensure that the creditors are able to request the opening of insolvency proceedings. 3. Member States may provide that the duty referred to in Article 40(1) is suspended if the directors take measures that are designed to avoid damage to the creditors of the insolvent company and that ensure a level of protection for the general body of creditors that is equivalent to the protection provided by the duty referred to in Article 40(1).