(1) Where a cross-border merger is proposed to be entered into, common draft terms shall be drawn up in writing by all of the merging companies and adopted by the board of directors of each Irish merging company.

(2) The draft terms shall include -

(a) in relation to each transferor company -

(i) its legal form and name, and

(ii) the location of its registered office,

(b) in relation to the proposed successor company -

(i) where the successor company is an existing company, the particulars specified in subparagraph (a), and

(ii) where the successor company is a new company yet to be formed, the particulars specified in subparagraph (a) that are proposed in respect of that company,

(c) where applicable -

(i) the proposed share exchange ratio and amount of any cash payment,

(ii) the proposed terms relating to allotment of shares or other securities in the successor company, and