154Registrar may register merged society

154 Registrar may register merged society

154 Registrar may register merged society

(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 153 (Application for registration of merger or transfer of engagements between societies of the same type), and

(b) the proposed rules of the merged society are adequate, and

(c) there are reasonable grounds for believing that the merged society will be able to comply with all applicable standards, and

(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) authorise it to operate as a co-operative housing society, and

(i) cancel the registration of the societies involved in the merger, and those societies are thereby dissolved.

(2) On registering the merged society, the Registrar must issue to the society—

(a) a certificate of incorporation, and

(b) a written authority to operate as a co-operative housing society.

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