Entry in the commercial register

(1) The administrator and the representative body of the acquiring Pfandbrief bank must apply for entry of the transfer in the commercial register of the seat of the respective Pfandbrief bank. The application must be accompanied by the transfer agreement, in original or publicly certified copy, and BaFin's certificate of consent.
(2) The transfer may be entered in the commercial register of the seat of the transferring Pfandbrief bank only after it has been entered in the commercial register of the seat of the acquiring Pfandbrief bank. The entry in the commercial register of the seat of the acquiring Pfandbrief bank must bear the note that the transfer takes effect only upon entry in the commercial register of the seat of the transferring Pfandbrief bank.
(3) The court of the seat of the transferring Pfandbrief bank must communicate ex officio to the court of the seat of the acquiring Pfandbrief bank the date of entry of the transfer and transmit an extract from the commercial register. On receipt of the communication, the court of the seat of the acquiring Pfandbrief bank must note ex officio the date of entry of the transfer in the commercial register.
(4) The court of the seat of each of the Pfandbrief banks participating in the transfer must publish, ex officio, its own entry of the transfer, in full, in the Federal Gazette.
(5) Where the Pfandbrief bank is a registered cooperative within the meaning of section 1(1) of the Cooperative Societies Act, the register of cooperatives takes the place of the commercial register in applying subsections (1) to (4).