CO-OPERATIVE HOUSING SOCIETIES ACT 1958 - SECT 13 Certificate confirming transfer of engagements between societies

CO-OPERATIVE HOUSING SOCIETIES ACT 1958 - SECT 13

S. 13(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 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

S. 13(1)(c) amended by No. 37/1999 s. 58(Sch. 2 Pt 1 item 6).

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

S. 13(1)(d) amended by No. 11/2001 s. 3(Sch. item 15.2).

        (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.

S. 13(2) amended by No. 37/1999 s. 58(Sch. 2 Pt 1 item 6).

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

S. 14 substituted by No. 48/1992 s. 96.