Registrar may register merged society
12 Registrar may register merged society
S. 12(1) amended by No. 37/1999 s. 58(Sch. 2 Pt 1 item 6).
If, in relation to an application under this Division by societies for registration of a proposed merger, the Registrar is satisfied that—
the societies involved have complied with section 11; and
the proposed rules of the merged society are adequate; and
S. 12(1)(c) amended by No. 11/2001 s. 3(Sch. item 15.2).
each authorised deposit-taking institution or other person (if any) in whose favour a guarantee under Part V is in force in relation to the societies consents to the merger;
S. 12(1)(d) amended by No. 37/1999 s. 58(Sch. 2 Pt 1 item 6).
the certificates of incorporation of the societies involved in the merger have been surrendered to the Registrar; 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.
S. 12(2) amended by No. 37/1999 s. 58(Sch. 2 Pt 1 item 6).
On registering the merged society, the Registrar must issue a certificate of incorporation to the society.
A merger takes effect on the issue of the certificate of incorporation under subsection (2).
S. 13 substituted by No. 48/1992 s. 96.
This Act’s bill:Second reading speech
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