Recital 10

(10) In order to ensure proportionality and avoid undue administrative burden, the additional powers of competent authorities should only apply to operations deemed material. Only operations consisting in mergers or divisions should be treated automatically as material operations, as the newly created entity can be expected to present a significantly different prudential profile from the entities initially involved in the merger or division. Also, mergers or divisions should not be concluded by entities undertaking them before a prior positive opinion is received from the competent authorities. Acquisitions of holdings, when considered material, should be assessed by the competent authority concerned, based on a tacit approval procedure.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.