156Registrar may direct a transfer of engagements between societies of the same type

#### 156 Registrar may direct a transfer of engagements between societies of the same type 156 Registrar may direct a transfer of engagements between societies of the same type > > (1) The Registrar may, by written notice given to a society, direct it to totally or partially transfer its engagements to another society of the same type (the transferee society) if the board of the transferee society has, by resolution, consented to the proposed transfer. > > > (2) The Registrar must give a copy of the direction to the transferee society. > > > (3) For a total transfer of engagements, the direction must specify that the transferor society must surrender its certificate of incorporation to the Registrar or satisfy the Registrar that its certificate has been lost or destroyed. > > > (4) The Registrar must not direct a society to transfer its engagements under this section unless— > > > > > (a) the Registrar is of the opinion that— > > > > > > > (i) the society has contravened this Act or the society’s rules and, after being given written notice of the contravention by the Registrar, has allowed the contravention to continue or has again contravened this Act or the rules, or > > > > > > > (ii) the society is trading unprofitably or has an accumulated deficit in its accounts, or > > > > > > > (iii) the affairs of the society are being conducted in an improper or financially unsound way, or > > > > > (b) after making such inquiries in relation to one or both of the societies as the Registrar considers appropriate, the Registrar is satisfied that it is in the interest of members or creditors of the society that is to be directed to transfer its engagements, or > > > > > (c) the Registrar has certified, in relation to the society, that any of the events mentioned in section 176 (1) (a), (b), (c) or (g) (Winding-up on certificate of Registrar) has happened.