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Part 4 · Resolution  ›  Division 2 · Transfer of Shares, Assets, Liabilities and Legal Relationships › Section 121

Authorisation procedures in other Member States and third countries

(1) Where, in the resolution authority's assessment, applying one of the resolution tools under section 107 requires a foreign approval, authorisation or permit procedure to be carried out, in particular a competition or State aid procedure, the resolution authority 1. informs the authority concerned without delay, and, where possible, before the intended issuance of a resolution order, 2. offers the authority concerned its support, and 3. requests a decision without delay, where possible before the intended issuance of the resolution order.
(2) Where the resolution authority lacks standing in the procedure concerned, or is otherwise prevented from taking the necessary legal actions, the transferring legal entity and the recipient legal entity are obliged to support the resolution authority.
(3) Where a refusal decision is issued before the intended issuance of the resolution order, the resolution order should not be issued. Where the refusal decision is issued after the resolution order has been issued, section 100(6) applies correspondingly.

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