S.L. 386.26 Art. 11Approval by general meeting. 

(1) After taking note of the reports referred to in regulations 7 and 9, where applicable, the employees’ opinions submitted in accordance with regulation 7(7) and comments submitted in accordance with regulation 10, the general meeting of the company being divided shall decide, by means of an extraordinary resolution, whether to approve the draft terms of the cross‐border division and whether to amend its memorandum and articles of association.

(2) The approval by the general meeting referred to in sub-regulation (1) shall not be valid unless the extraordinary resolution is approved in accordance with the requirements of the Act and is adopted at least one (1) month after the publication of the statement referred to in regulations 10(2) and (5), as may be applicable.

(3) The general meeting of the company being divided may reserve the right to make implementation of the cross-border division conditional on express ratification by the general meeting of the COMPANIES

arrangements decided on with respect to employee participation in the company upon completion of the cross-border division.