20Recital 1 of Directive 2012/34 states:‘[Directive 91/440], Council Directive 95/18/EC of 19 June 1995 on the licensing of railway undertakings [OJ 1995 L 143, p. 70] and Directive [2001/14] have been substantially amended. Since further amendments are necessary, those Directives should be recast and merged into a single act in the interest of clarity.’
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