Financial Intermediaries Act 1996

This section applies if societies have applied to register a merger and the registrar is satisfied that—

the societies involved have complied with section 168; and

the proposed rules of the merged society are adequate; and

there are reasonable grounds for believing that the merged society will be able to comply with all relevant standards; and

the certificates of incorporation of the societies involved in the merger have been—

surrendered to the registrar; or

lost or destroyed; and

there is no good reason why the merged society and its rules should not be registered.

The registrar must—

register the merged society; and

register its rules; and

cancel the registration of the societies involved in the merger.

On registering the merged society, the registrar must issue to the society a certificate of incorporation.

A merger takes effect on the issue of the certificate of incorporation.