167
CurrentApplication of part
Part 9Mergers and transfers of engagements
167 Application of part
This part applies only if—
(a)
all funds raised by the societies proposing to consolidate their assets, liabilities and undertakings by way of merger, or transfer of engagements, and not repaid were provided by the same entity; and
(b)
either—
(i)
a guarantee is in force for each of the societies; or
(ii)
a guarantee is not in force for any of the societies.
This Act’s bill:Explanatory memorandum
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