Victorian Consolidated Legislation

Co-operative Housing Societies Act 1958 - SECT 13

Certificate confirming transfer of engagements between societies

13. Certificate confirming transfer of engagements between societies





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

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

   (b)  the rules, or proposed rules, of the transferee society are adequate;
        and

   (c)  the certificate or certificates of incorporation of the transferor
        society or societies has or have been surrendered to the Registrar;
        and



   (d)  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 transfer;

   (e)  there is no good reason why the transfer of engagements should not
        take effect;

the Registrar must-

   (f)  issue a certificate confirming the transfer of engagements; and

   (g)  cancel the registration of the transferor society or societies.

(2) A transfer of engagements takes effect on the issue of the certificate of
the Registrar under subsection (1).