Approval of amalgamation
70 Approval of amalgamation
If the members of each of the existing organisations concerned in a proposed amalgamation approve the proposed principal amalgamation, the proposed principal amalgamation is approved for the purposes of this Part.
If:
the scheme for a proposed amalgamation contains an alternative provision; and
the members of one or more of the existing organisations concerned in the amalgamation do not approve the proposed principal amalgamation; and
the members of 2 or more of the organisations (in paragraph (d) called the approving organisations) approve a proposed alternative amalgamation; and
where one of the existing organisations is the proposed amalgamated organisation—that organisation is one of the approving organisations;
the proposed alternative amalgamation is approved for the purposes of this Part.
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