(1) Where a cross-border division is proposed to be entered into by an Irish dividing company, draft terms shall be drawn up in writing and adopted by the board of directors of that company.

(2) The draft terms shall include -

(a) in relation to the dividing company -

(i) its legal form and name, and

(ii) the location of its registered office,

(b) in relation to each proposed recipient company, the particulars specified in subparagraph (a) that are proposed in respect of that company,

(c) where applicable, the proposed share exchange ratio and amount of any cash payment,

(d) the proposed terms relating to allotment of shares or other securities in the recipient companies or the dividing company,

(e) the date from which the holding of securities or shares representing the companies' capital will entitle the holders to share in profits, and any special conditions affecting that entitlement,

(f) the proposed indicative timetable for the cross-border division,