F766[1128. (1) Subject to subsection (2), this Chapter applies only if each of the merging companies, or, one at least, of them, is a PLC.

(2) This Chapter shall not apply if each of the merging companies is—

(a) a PLC, or

(b) any other company to which Directive 2011/35/EU of the European Parliament and of the Council of 5 April 2011³¹ applies,

any of which is the subject of the use of resolution tools, powers and mechanisms provided for in Title IV of Directive 2014/59/EU of the European Parliament and of the Council³².]