Member States may decide not to apply Article 49(1), (2) and (3) where, upon a decision of the administrative or management body, transferable securities as defined in point 44 of Article 4(1) of Directive 2014/65/EU of the European Parliament and of the Council [33] or money-market instruments as defined in point 17 of Article 4(1) of that Directive are contributed as consideration other than in cash, and those securities or money-market instruments are valued at the weighted average price at which they have been traded on one or more regulated markets as defined in point 21 of Article 4(1) of that Directive during a sufficient period, to be determined by national law, preceding the effective date of the contribution of the respective consideration other than in cash.However, where that price has been affected by exceptional circumstances that would significantly change the value of the asset at the effective date of its contribution, including situations where the market for such transferable securities or money-market instruments has become illiquid, a revaluation shall be carried out on the initiative and under the responsibility of the administrative or management body.
Féadfaidh na Ballstáit a chinneadh gan Airteagal 49(1), (2) agus (3) a chur i bhfeidhm i gcás, de bhua cinneadh ón gcomhlacht riaracháin nó bainistíochta go ranníoctar mar chomaoin seachas in airgead tirim urrúis inaistrithe mar a shainmhínítear i bpointe 44 d'Airteagal 4(1) de Threoir 2014/65/AE ó Pharlaimint na hEorpa agus ón gComhairle [33] nó ionstraimí margaidh airgid mar a shainmhínítear i bpointe 17 d'Airteagal 4(1) den Treoir sin, agus i gcás ina ndéantar na hurrúis sin nó na hionstraimí margaidh airgid sin a luacháil ag meánphraghas ualaithe an phraghas ar a raibh siad á dtrádáil ar cheann amháin nó níos mó de na margaí rialáilte, mar a shainmhínítear i bpointe 21 d'Airteagal 4(1) den Treoir sin, le linn tréimhse leordhóthanach, a bheidh le cinneadh leis an dlí náisiúnta, roimh dháta éifeachtach a mbaineann ranníocaíocht na comaoine seachas in airgead tirim leis.I gcás, áfach, go raibh tionchar ag cúinsí eisceachtúla ar an bpraghas sin lena ndéanfaí athrú suntasach ar luach na sócmhainne ar dháta éifeachtach a ranníocaíochta, lena n-áirítear i staideanna ina bhfuil an margadh le haghaidh urrúis inaistrithe nó ionstraimí margaidh airgid den sórt sin tar éis éirí neamhleachtach, déanfar an tionscnamh a athluacháil faoi fhreagracht an chomhlachta bainistíochta nó riaracháin.