Where the division shall be carried out by contribution to new public limited companies, each
of the new companies may be formed without any other contribution apart from the contribution
of the divided company.
In this case and where the shares of each of the new companies are allotted to the shareholders
of the divided company proportionately to their rights in the capital of the company, it shall not
be necessary to draw up the report referred to in Article 672 of this Uniform Act.
In any case, the draft Articles of Association of the new companies shall be approved by the
extraordinary general meeting of the divided company.
There shall be no need for the approval of the transaction by the general meeting of each of the
new companies.
Official translation
Spot-checked
In force from 17 April 1997
Source page 152