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New version applies from 31/07/2019 — introduced by Directive (EU) 2019/1023, Directive (EU) 2019/1151. 133 provisions change. Later versions: 01/01/2020, 12/08/2022. Article 121 changes in this version: compare with the current text.

Article 121 - Conditions relating to cross-border mergers

Article 121
Conditions relating to cross-border mergers

1. Save as otherwise provided in this Chapter,

((a))

cross-border mergers shall only be possible between types of companies which may merge under the national law of the relevant Member States;

((b))

a company taking part in a cross-border merger shall comply with the provisions and formalities of the national law to which it is subject. The laws of a Member State enabling its national authorities to oppose a given internal merger on grounds of public interest shall also be applicable to a cross-border merger where at least one of the merging companies is subject to the law of that Member State. This provision shall not apply to the extent that Article 21 of Regulation (EC) No 139/2004 is applicable.

2. The provisions and formalities referred to in point (b) of paragraph 1 shall, in particular, include those concerning the decision-making process relating to the merger and, taking into account the cross-border nature of the merger, the protection of creditors of the merging companies, debenture holders and the holders of securities or shares, as well as of employees as regards rights other than those governed by Article 133. A Member State may, in the case of companies participating in a cross-border merger and governed by its law, adopt provisions designed to ensure appropriate protection for minority members who have opposed the cross-border merger.

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