(1) The representative body of the company being acquired draws up draft terms of the division.
(2) The draft terms of the division, or their initial outline, include the following information, at a minimum, besides the information stipulated in section 307 (2) nos. 1 to 14 and 16:
1. the indicative schedule planned for the division,
2. in the case of a partial division and of a division by separation, any amendments of the by-laws of the company being acquired,
3. an exact description of the items making up the assets and liabilities of the company being acquired as well as a declaration as to how these items making up the assets and liabilities are to be allocated to the new companies or whether, in the event of a partial division or division by separation, they are to remain with the company being acquired, including provisions on how items making up the assets and liabilities are to be treated that are not being expressly allocated in the draft terms of the division, for example items making up the assets or liabilities that were unknown at the time the draft terms were drawn up,
4. information on the valuation of the assets and liabilities that are to remain with the company being acquired, as well as
5. in the case of a full division or partial division, the distribution of the shares in the company being acquired and the new companies to the holders of shares in the company being acquired as well as the measure applying to such distribution.
(3) In the case of a division by separation, the information stipulated in section 307 (2) no. 2, 3, 5, 7 and 13 need not be provided.
(4) The draft terms of the division must be recorded by a notary.