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funds or repayment of liabilities between the counterparties as referred to in paragraphs 5 to 10 of [Article 11](../../articles/11.md) of Regulation (EU) No 648/2012 shall be deemed to exist where there are restrictions of a practical nature, including any of the following:\n\n<a id=\"art-34-p-a\"></a>**(a)** insufficient availability of unencumbered or liquid assets to the relevant counterparty when due;\n\n<a id=\"art-34-p-b\"></a>**(b)** impediments of an operational nature which effectively delay or prevent such transfers or repayments when due.\n\n**CHAPTER IV — TRANSITIONAL AND FINAL PROVISIONS**\n\n","marks":[],"text_hash":"2b5bff21d29497879fb24fdff7560c73f95252f771b40316dd3dcbb91d42a1d2","revision":1}}