1. Member States shall require institutions, and financial holding companies and mixed financial holding companies within the scope of Article 21a(1) (the "financial stakeholders") carrying out a merger or division (the "proposed operation"), to notify, after the adoption of the draft terms of the proposed operation and in advance of the completion of the proposed operation, the competent authority which will be responsible for supervising the entities resulting from such proposed operation, indicating the relevant information, as specified in accordance with Article 27j(5).
For the purposes of the first subparagraph of this paragraph, where the proposed operation consists of a division, the competent authority in charge of the supervision of the entity carrying out the proposed operation shall be the competent authority to be notified and in charge of the assessment provided for in Article 27j(1).
2. By way of derogation from paragraph 1 of this Article, where the proposed operation i
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