The functions entrusted by law to the Comisión Liquidadora de Entidades Aseguradoras (CLEA) have been taken on by the Consorcio de Compensación de Seguros in accordance with Law 44/2002 dated 22nd November and relating to Reform Measures for the Financial System (B.O.E. 23-XI-2002). These functions consist fundamentally in the liquidation of insurance entities when entrusted do do so by the Ministry of Economy and Treasury or, as the case may be, by the competent organism of the respective autonomous region. The Consorcio also acts as the sole interlocutor in the case of companies going into Administration and as Official Receiver for those in bankruptcy.