(1) On application to it by a converting company, the Court shall examine the legality of a cross-border conversion as regards the procedure which concerns the completion of the cross-border conversion, including the proposed formation of an Irish converted company, and shall -
(a) if it is satisfied that the requirements specified in paragraph (3) have been met, make an order approving the cross-border conversion as soon as it is so satisfied, or
(b) if not so satisfied, refuse to make an order approving the cross-border conversion.
(2) In making the application referred to in paragraph (1), the converting company shall submit to the Court the draft terms of the cross-border conversion approved by the general meeting of that company for the purposes of Article 86h of the Directive.
(3) The requirements referred to in paragraph (1)(a) are that -
(a) the proposed converted company is an Irish company,
(b) a pre-conversion certificate has been issued in respect of the converting company
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