Act On The Use Of The Assets Of The German Industry Bank

Original Language Title: Gesetz über die Verwendung des Vermögens der Deutschen Industriebank

Read the untranslated law here: http://www.gesetze-im-internet.de/dindbvermverwg/BJNR010370974.html

Law on the use of the assets of the German industry Bank DIndBVermVerwG Ausfertigung date: 03.05.1974 full quotation: "law on the use of the assets of the German industry Bank of 3 May 1974 (BGBl. I p. 1037)" footnote (+++ text detection from: 8 5.1974 +++) input formula the Bundestag has decided with the consent of the Federal Council the following law: § 1 (1) the assets of the German industry Bank may be transferred by way of a merger on the industrial credit Bank Aktiengesellschaft. The merger for the regulations of the German Stock Corporation Act and § 25 of the third regulation to the companies act of December 21, 1938 (Reichsgesetzbl. I S. 1839) application.
(2) the merger may only be entered in the commercial register of the seat of the absorbed company, once by at least three members elected by the annual general meeting of the Supervisory Board of the German industrial Bank and the Federal Republic of Germany, represented by the Federal Minister of finance, for the purpose of use of the assets of the German industry Bank a foundation of under private law has been established and approved, the Satzung ensures , that 1 serves the foundation exclusively promoting the commercial economy, 2. an institution receives the Foundation which has to monitor the management of the Board, 3. the Federal Republic of Germany, as well as the States of North Rhine-Westphalia and Berlin in the organ referred to in paragraph 2 are represented, 4. sale of shares of the industrial credit Bank stock company from the Foundation's assets, as well as an amendment of the statutes against the majority of the votes of the representatives of the bodies referred to in paragraph 3 can be drawn.

Section 2 with the entry of the merger in the commercial register of the seat of the absorbed company is a shareholder of the acquiring company the foundation built in accordance with § 1 para 2 in place of the previous shareholders of the transferor company.

Section 3 - section 4 (1) the German industry Bank remains a joint-stock company even after the entry into force of this Act. The rules applicable to public limited liability companies are on it from that point on. subject to paragraph 2 apply.
(2) the German industry Bank may retain their previous company. The sections 23, 25 of the third regulation to the Stock Corporation Act shall apply until the entry of the merger in the commercial register at the headquarters of the German industry Bank.

§ 5-6. this law shall apply in accordance with § 13 ABS. 1 of the third of transfer Act of January 4, 1952 (Bundesgesetzbl. I p. 1) also in the Federal State of Berlin.

§ 7 this Act enters into force on the day after its promulgation.