In the event of division, the company being divided shall transfer all its assets to two or more acquiring companies which already exist and cease to exist without liquidation proceedings. In the event of division, the members/shareholders of the company being divided shall become members/shareholders/members of the acquiring companies in accordance with the decision to split the company. The reorganisation shall be carried out in two stages.

We note that under commercial Law, participants/shareholders have the right to participate and vote in the meeting remotely, or to vote before the meeting. Read more in the Explanatory Notes on Remote participation in meetings of Members, shareholders and Members section.

^{* The statutory time limit for examining documents may be extended on the basis of Section 64, Paragraph two of the Administrative Procedure Law.}

Documents to be submitted:

• an application by each company for reorganisation;
• a reorganisation contract or a draft contract (each company submits its copy);
• a receipt or a copy thereof, or a printout of an Internet bank payment, or information regarding payment of the State fee. A State fee shall be paid separately for a copy of the contract or draft contract of each company.

Time period for submission of documents in the Enterprise Register: 14 days from the drawing up of the reorganisation contract or draft contract.