Victorian Consolidated Legislation

Co-operative Housing Societies Act 1958 - SECT 17

Effect of merger

17. Effect of merger

On a merger of societies under this Division taking effect-

   (a)  the members of the societies that are parties to the merger become
        members of the merged society; and

   (b)  the property of the societies that are parties to the merger vests in
        the merged society without any conveyance, transfer or assignment; and



   (c)  any property vested in a merged society under this section remains
        subject to any debt, liability or obligation affecting the property;
        and

   (d)  all debts and liabilities of the societies that are parties to the
        merger, are debts and liabilities of the merged society; and

   (e)  in all documents (including, for example, a contract to which a
        society that is a party to the merger was a party), a reference to a
        society that was a party to the merger is a reference to the merged
        society.