1. Member States may derogate from the application of national provisions transposing Titles II, V and VI in the event of extraordinary situations which seriously disrupt economic activities at the level of the Member States or their regions where and to the extent that the application of the national provisions transposing those Titles would entail a risk of widespread insolvencies, including for companies that would be viable under ordinary circumstances.
2. The derogation referred to in paragraph 1 and its duration shall be proportionate and limited to what is essential for containing, mitigating, resolving or preventing the serious disruption referred to in that paragraph.
3. Member States shall notify the Commission of a derogation as referred to in paragraph 1 within one month of its entry into force.
When notifying the Commission in accordance with the first subparagraph, the Member States shall list the provisions of this Directive from which they have derogated, the nature and extent of the exceptional circumstances on which the derogation is based, the duration of the derogation, and the reasons for which the derogation is considered essential for containing, mitigating, resolving or preventing serious disruption to economic activities as referred to in paragraph 1. The Commission shall inform the other Member States thereof without undue delay.
4. A derogation as referred to in paragraph 1 may have a maximum duration of one year.
Where and to the extent that the extraordinary situation which seriously disrupts economic activities persists, the derogation may be extended by periods of up to six months provided that the Member State notifies the Commission to that effect no later than three months before the expiration of the previous derogation period. That extension shall take effect unless the Commission objects, at the latest one month before the expiration of that previous derogation period, on the basis that the extension does not comply with the requirements set out in paragraphs 1 and 2.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
