(1) The representative body of the company being acquired is to file an application for entry of the new company in the register of the seat of the new company. The draft terms of the division and, if applicable, the agreement on employee co-determination rights, in the form stipulated in section 17 (1), are to be attached to the application for entry. Section 16 (2) and (3) and section 17 are not to be applied to the company being acquired.
(2) The division certificate transmitted via the European system of interconnection of registers is recognised as proof of the proper completion of the pre-division procedures and formalities applying under the laws of the state by which the company being acquired is governed. Without this division certificate, it is not permissible for the cross-border division to be entered in the register
(3) The review of whether the pre-requisites for entry in the register have been met extends in particular to the matter of whether an agreement regarding employee co-determination rights has been concluded, where applicable, and whether the provisions governing the formation of the new company have been complied with.
(4) The entry of the new company is to include the note that it will take effect subject to the pre-requisites relevant to the cross-border division’s taking effect under the laws of the state by which the company being acquired is governed. The court having jurisdiction at the seat of the new company is to notify, of its own motion, the court having jurisdiction at the seat of the company being acquired that the new company has been entered in the register.
(5) Upon receipt of the notification from the register in which the company being acquired is entered as to the cross-border division having taken effect, the day on which the division took effect is to be entered in the register of the seat of the new company.