S.L. 370.19 Art. 8Draft terms of merger.

(1) The common draft terms of merger referred to in regulation 5(1)(a) shall be drawn up by the merging UCITS and the receiving UCITS and shall set out the following particulars:

(a) an identification of the type of merger and the UCITS involved;

(b) the background to and the rationale for the proposed merger;

(c) the expected impact of the proposed merger on the unit-holders of both the merging UCITS and the receiving UCITS;

(d) the criteria adopted for valuation of the assets and, where applicable, the liabilities on the date for calculating the exchange ratio referred to in regulation 15;

(e) the calculation method of the exchange ratio;

(f) the planned effective date of the merger;

(g) the rules applicable respectively to the transfer of assets and the exchange of units; and

(h) in the case of a merger taking place in accordance with the provisions of regulation 3(1)(b), the fund rules or instruments of incorporation of the newly constituted receiving UCITS.

(2) The merging UCITS and the receiving UCITS may decide to include further items in the common draft terms of merger but the competent authority may not request the inclusion of any information other than that indicated in sub-regulation (1). THIRD PARTY CONTROL, INFORMATION TO UNIT HOLDERS AND OTHER RIGHTS OF UNIT HOLDERS