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CO-OPERATIVE HOUSING SOCIETIES ACT 1958 - SECT 12 Registrar may register merged society

CO-OPERATIVE HOUSING SOCIETIES ACT 1958 - SECT 12

Registrar may register merged society

S. 12(1) amended by No. 37/1999 s. 58(Sch. 2 Pt 1 item 6).

    (1)     If, in relation to an application under this Division by societies for registration of a proposed merger, the Registrar is satisfied that—

        (a)     the societies involved have complied with section 11; and

        (b)     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).

        (c)     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).

        (d)     the certificates of incorporation of the societies involved in the merger have been surrendered to the Registrar; and

        (e)     there is no good reason why the merged society and its rules should not be registered—

the Registrar must—

        (f)     register the merged society; and

        (g)     register its rules; and

        (h)     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).

    (2)     On registering the merged society, the Registrar must issue a certificate of incorporation to the society.

    (3)     A merger takes effect on the issue of the certificate of incorporation under subsection (2).

S. 13 substituted by No. 48/1992 s. 96.