Article 411-60 into force since 21 October 2011

If the receiving CIS is French:

1. The merger takes effect at least thirty days after the date of publication of the proposal;

2. The exchange ratio of units or shares in the merging CIS for units or shares in the receiving CIS is calculated on the day the merger takes effect;

3. The net asset value used for cash payments is the same as that used for the merger.