Home / CY AIF Law of 2018 / PART ΙΙ: PROVISIONS REGARDING THE ALTERNATIVE INVESTMENT FUNDS / Chapter 10: Mergers / [88] Terms of the merger.

88. Terms of the merger.

(1) The merging and receiving AIFs shall draw up the common terms of the merger, which shall include the following information:

(a) an identification of the type of merger and the particulars of the AIFs participating in the merger;

(b) the framework and the rational for the impending merger;

(c) the expected impact of the impending merger to the unitholders of the merging and the receiving AIFs;

(d) the criteria for the valuation of the assets and where applicable, of the liabilities as at the date of the calculation of the exchange ratio;

(e) the method of calculation of the exchange ratio;

(f) the applicable rules regarding the transfer of assets and the exchange of units;

(g) in case of a merger referred to in paragraph (b) or (c) of the definition “merger” in article 85, the fund rules or instruments of incorporation of the newly established receiving AIF;

(h) the scheduled date of realisation and effective date of the merger.

(2) The Securities and Exchange Commission may, in addition to the information provided for in section (1), require the inclusion of additional information in the terms of the merger.

(3) The Securities and Exchange Commission may, by means of a directive, regulate any technical matters and details relating to the application of this article.