Approval of merger
399 Approval of merger
(1) The Registrar must approve a merger under an application under this Division if satisfied:
(a) this Division and the National Regulations have been complied with in relation to the application; and
(b) the proposed rules of the merged co-operative are consistent with this Law and may reasonably be approved; and
(c) the certificates of registration of the co-operatives have been surrendered to the Registrar; and
(d) there is no good reason why the merged co-operative and its rules should not be registered.
On approving an application for merger, the Registrar must:
(a) cancel the registration of the co-operatives involved in the merger; and
register the merged co-operative and its rules; and
(c) issue to the merged co-operative a certificate of registration under this Law.
(3) A merger takes effect on the issue of the certificate of registration for the merged co-operative.
This Act’s bill:Explanatory statement
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