34Furthermore, it should be noted that Article 4 of Directive 80/987 must be interpreted strictly and in conformity with its social objective, which is to guarantee a minimum of protection to all employees (see Case C-125/97 Regeling [1998] ECR I-4493, paragraph 20). To this effect, the cases in which it is permitted to limit the payment obligation of the guarantee institutions are listed exhaustively and the provisions concerned must be interpreted strictly, having regard to their being derogations and to the social objective of the Directive.
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