(1) The representative body of the legal entity changing its legal form is to submit a detailed written report explaining and justifying in legal and economic terms the change of legal form and in particular the ownership interest to be held by the holders of shares in the legal entity, as well as the amount of a cash settlement to be offered and the valuation methods used to determine it (report on the change of legal form). Section 8 (1) sentences 3 to 5 and subsection (2) is to be applied accordingly. The report on the change of legal form must include a draft of the resolution on change of legal form.
(2) A report on the change of legal form will not be required if only one holder of shares holds an ownership interest in the legal entity changing its legal form or if all holders of shares waive having this report submitted. The declarations of waiver are to be recorded by a notary.