Recital 122

(122)Directive 2011/35/EU of the European Parliament and of the Council ¹⁷ lays down rules, inter alia, on the approval of mergers by the general meeting of each of the merging companies, on the requirements concerning the draft terms of merger, management report and expert report, and on creditor protection. Council Directive 82/891/EEC ¹⁸ contains similar rules on the division of public limited liability companies. Directive 2005/56/EC of the European Parliament and of the Council ¹⁹ provides for corresponding rules concerning cross-border mergers of limited liability companies. Appropriate derogations from those directives should be provided in order to allow a rapid action by resolution authorities.