‘default’, in relation to a participant, means a situation where insolvency proceedings, as defined in point (j) of Article 2 of Directive 98/26/EC, are opened against a participant;
ciallaíonn “mainneachtain”, maidir le rannpháirtí, cás ina ndéantar imeachtaí dócmhainneachta, mar a shainmhínítear i bpointe (j) d’Airteagal 2 de Threoir 98/26/CE iad, a thionscnamh i gcoinne rannpháirtí;