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Council Regulation (EC) No 74/2008 (repealed)Show full title

Council Regulation (EC) No 74/2008 of 20 December 2007 on the establishment of the ‘ARTEMIS Joint Undertaking’ to implement a Joint Technology Initiative in Embedded Computing Systems (repealed)

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Article 21Liability of members, insurance

1.The ARTEMIS Joint Undertaking shall not be responsible for meeting the financial obligations of its members. It shall not be liable for any ARTEMIS Member State failing to meet its obligations resulting from calls for proposals launched by the ARTEMIS Joint Undertaking.

2.The members are not liable for any of the ARTEMIS Joint Undertaking's obligations. The financial liability of the members is an internal liability towards the ARTEMIS Joint Undertaking only, and is limited to their commitment to contribute to the resources as set out in Article 11(3).

3.Notwithstanding the financial contributions due to project participants pursuant to Article 13(6)(a), the financial liability of the ARTEMIS Joint Undertaking for its debts is limited to the contributions that the members have made to the running costs as set out in Article 11(3)(a).

4.The ARTEMIS Joint Undertaking shall take out and maintain appropriate insurance.

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