400
CurrentApproval of transfer of engagements
Chapter 4Structural and other events for co-operatives
Part 4.3Mergers and transfers of engagements
Division 1Merger or transfer of engagements
400 Approval of transfer of engagements
(1)
The Registrar must approve a transfer of engagements under an application under this Division if satisfied:
(a)
this Division has been complied with in relation to the application; and
(b)
the rules or proposed rules of the transferee co-operative are adequate; and
(c)
for a total transfer of engagements from a co-operative – the certificate of registration of the co-operative has been surrendered to the Registrar; and
(d)
there is no good reason why the transfer of engagements should not take effect.
(2)
A transfer of engagements takes effect on the day stated in the approval of the Registrar.
This Act’s bill:Explanatory statement
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