(1) On application to it made jointly by the merging companies, the Court shall examine the legality of a cross-border merger as regards the procedure which concerns the completion of the cross-border merger, including the proposed formation of a successor company in the State, and shall -
(a) if it is satisfied that the requirements specified in paragraph (3) have been met, make an order approving the cross-border merger as soon as it is so satisfied, or
(b) if not so satisfied, refuse to make an order approving the cross-border merger.
(2) In making the application referred to in paragraph (1), each merging company shall submit to the Court the common draft terms approved by the general meeting of that company for the purposes of Article 126 of the Directive or, where Article 132(3) of the Directive applies, the common draft terms approved by each merging company in accordance with the law of each EEA state concerned.
(3) The requirements referred to in paragraph (1)(a) are that -
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