Article 59. The Deed of Transfer

1. A deed of transfer shall comprise provisions on legal succession in respect of all the obligations of the re-organised legal person concerning all its creditors and debtors, including the obligations disputed by the parties, and also a procedure for defining legal succession in connection with the change of the kind, composition and value of property, the occurrence, modification and termination of the rights and duties of the re-organised legal person which can take place after the date as of which the deed of transfer is drawn up.

2. The deed of transfer shall be endorsed by the founders (participants) of the legal person or by the body that has taken the decision on re-organisation of the legal person and be submitted together with the constitutive documents for state registration of the legal persons formed as a result of the re-organisation or for making amendments to the constitutive documents of the existing legal persons.

Default on submission of a deed of transfer together with the constitutive documents, the lack therein of provisions on legal succession in respect of all the obligations of the re-organised legal person shall entail refusal to grant state registration to the legal persons formed as a result of the re-organisation.