Alternative scheme for amalgamation
41 Alternative scheme for amalgamation
Where 3 or more existing organisations are concerned in a proposed amalgamation, the scheme for the amalgamation may contain a provision to the effect that, if:
the members of one or more of the organisations do not approve the amalgamation; and
the members of 2 or more of the organisations (in this subsection called the approving organisations) approve, in the alternative, the amalgamation so far as it involves:
the other of the approving organisations; or
2 or more of the other approving organisations; and
where one of the existing organisations is the proposed amalgamated organisation—that organisation is one of the approving organisations;
there is to be an amalgamation involving the approving organisations.
If the scheme for a proposed amalgamation contains an alternative provision, the scheme must also contain particulars of:
the differences between the proposed principal amalgamation and each proposed alternative amalgamation; and
the differences between the rules of any association proposed to be registered as an organisation, and any proposed alterations of the rules of the existing organisations, under the proposed principal amalgamation and each proposed alternative amalgamation.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.