1.   By way of derogation from Article 7, resolution authorities may determine an appropriate transitional period to reach the final MREL or for an institution or entity to which resolution tools have been applied.

2.   For the purposes of paragraph 1, resolution authorities shall determine an appropriate transitional period which is as short as possible. They shall also communicate to the institution a planned MREL for each 12 month period during the transitional period. At the end of the transitional period, the final MREL shall be equal to the amount determined under Article 7.

3.   Resolution authorities shall not be prevented from subsequently revising either the transitional period or any planned MREL.