Victorian Consolidated Legislation

Co-operative Housing Societies Act 1958 - SECT 18

Effect of transfer of engagements

18. Effect of transfer of engagements

On a transfer of engagements under this Division taking effect, the following
provisions apply to the extent necessary to give effect to the transfer-

   (a)  persons who were members of a transferor society immediately before
        the transfer of engagements took effect are members of the transferee
        society in accordance with its rules;

   (b)  property of a transferor society that was such immediately before the
        transfer took effect vests in the transferee society without any
        conveyance, transfer or assignment;

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

   (d)  the debts and liabilities of a transferor society immediately before
        the transfer of engagements took effect are debts and liabilities of
        the transferee society;

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