26Thus, the Court recognised the direct effect of Article 56(1) EC, without drawing a distinction between the categories of capital movement which are covered by Article 57(1) EC and those which are not so covered. The Court held that the exception provided for in Article 57(1) EC cannot preclude Article 56(1) EC from conferring rights on individuals which they can rely on before the courts (Sanz de Lera and Others y paragraph 47).
Source: EUR-Lex, © European Union, 1998-2026. Reuse authorised under Decision 2011/833/EU.