Recital 90

(90) Directive 2004/25/EC of the European Parliament and of the Council (9), Directive 2007/36/EC of the European Parliament and of the Council (10) and Directive (EU) 2017/1132 of the European Parliament and of the Council (11), contain rules on the protection of shareholders and creditors of undertakings that fall within the scope of those Directives. In a situation where resolution authorities need to act rapidly, those rules might hinder effective resolution action and application of resolution tools and powers by resolution authorities. Derogations under Directive 2014/59/EU of the European Parliament and of the Council (12) and Regulation (EU) 2021/23 of the European Parliament and of the Council (13) should therefore be extended to actions taken in the context of the resolution of insurance and reinsurance undertakings. In order to guarantee the maximum degree of legal certainty for stakeholders, such derogations should be set out clearly, should be narrow, and should only be used in the public interest and when resolution triggers are met.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-14 · Text as adopted (Official Journal); later amendments are not incorporated in this text.