Transfer of cover pools and liabilities

(1) The administrator may, with the written consent of BaFin, transfer all or part of the assets entered in the cover register, including assets within the meaning of section 30(3), and the liabilities from Pfandbriefe, as a whole, to another Pfandbrief bank under the following provisions.
(2) The transfer agreement must contain at least the following particulars:
1. the company name and seat of the transferring and the acquiring Pfandbrief bank,
2. the agreement on the transfer of the assets entered in the cover register and the liabilities from Pfandbriefe as a whole and, where applicable, on any consideration,
3. the precise designation of the assets and liabilities from Pfandbriefe to be transferred.
(3) Insofar as a particular manner of designation is prescribed in the general provisions for the transfer of items in the case of individual succession, these rules apply to the designation of the assets and liabilities from Pfandbriefe to be transferred under subsection (2) no. 3. Section 28 of the Land Register Code, section 36 of the Ship Register Code and section 87 of the Act on Rights in Aircraft must be observed. In other respects, reference may be made to documents whose content enables the individual item to be identified; the documents must be attached to the transfer agreement as annexes.
(4) The transfer agreement must be notarised.