(a) For domestic mergers, the laws of the State shall determine the date on which a merger takes effect as well as the date for calculating the exchange ratio of units of the merging UCITS into units of the receiving UCITS and, where applicable, for determining the relevant net asset value for cash payments.
(b) For cross-border mergers, the laws of the receiving UCITS home Member State shall determine those dates. Where the State is the receiving UCITS home Member States, the Bank shall ensure that, where applicable, those dates are after the approval of the merger by unit-holders of the receiving UCITS or the merging UCITS.
(2) The entry into effect of the merger shall be made public through all appropriate means in the manner prescribed by the laws of the receiving UCITS home Member State, and shall be notified to the competent authorities of the home Member States of the merging UCITS and the receiving UCITS.
(3) A merger which has taken effect as provided for in paragraph (1)
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