1. Member States shall require that the merging and the receiving UCITS draw up common draft terms of merger.
The common draft terms of merger shall set out the following particulars:
(a) an identification of the type of merger and of the UCITS involved;
(b) the background to and rationale for the proposed merger;
(c) the expected impact of the proposed merger on the unitholders of both the merging and the receiving UCITS;
(d) the criteria adopted for valuation of the assets and, where applicable, the liabilities on the date for calculating the exchange ratio as referred to in Article 47(1);
(e) the calculation method of the exchange ratio;
(f) the planned effective date of the merger;
(g) the rules applicable, respectively, to the transfer of assets and the exchange of units; and
(h) in the case of a merger pursuant to point (p)(ii) of Article 2(1) and, where applicable, point (p)(iii) of Article 2(1), the fund rules or instruments of incorporation of the newly constituted receiving U
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