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s 302

Approval of merger

In force
Part 12Merger, transfer of engagements, winding‑up
Division 1Mergers and transfers of engagements

302 Approval of merger

(1)

The Registrar must approve a merger pursuant to an application under this Division if satisfied that —

(a)

this Division has been complied with in relation to the application; and

(b)

the proposed rules of the merged co‑operative are consistent with this Act 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.

(2)

On approving an application for merger, the Registrar must —

(a)

cancel the registration of the co‑operatives involved in the merger; and

(b)

register the merged co‑operative and its rules; and

(c)

issue to the merged co‑operative a certificate of registration under this Act.

(3)

A merger takes effect on the issue of the certificate of registration for the merged co‑operative.

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