S.L. 386.26 Art. 22Approval of cross- borderdivisionand the issue of certificate of registration of recipient company.

(1) Upon determining that all relevant conditions have been properly fulfilled and formalities properly completed in Malta as the jurisdiction governing the recipient company, the Registrar shall, without delay, and in any event, not later than ten (10) working days from the submission of the documents referred to in regulation 21(2), approve the cross-border division and proceed to register the recipient company as a Maltese company and notify the register in the country or jurisdiction of the company being divided that the Maltese recipient company has been registered.

(2) The certificate of registration of the recipient company shall include the following:

(a) a statement confirming that the registration of the recipient company is the result of a cross-border division;

(b) the date of registration of the recipient company; and

(c) the registration number, name and legal form of the company being divided and of the recipient companies.

Part III – Consequences of a cross-border division