480Approval of transfer of engagements

#### 480 Approval of transfer of engagements 480 Approval of transfer of engagements > > (1) If the local Registrar is the appropriate Registrar, he or she must approve a transfer of engagements pursuant to an application under this Part if satisfied that— > > > > > (a) this Part has been complied with in relation to the application; and > > > > > (b) the rules or proposed rules of the transferee co-operative are adequate; and > > > > > (c) in the case of a total transfer of engagements from a participating co-operative—the certificate of registration of the participating co-operative has been surrendered to the participating Registrar; and > > > > > (d) there is no good reason why the transfer of engagements should not take effect. > > > (2) If the local Registrar is not the appropriate Registrar, he or she must approve a transfer of engagements pursuant to an application under this Part if satisfied that the transfer has been approved under the provision of the co-operatives law of the participating jurisdiction that corresponds with subsection (1). > > > (3) A transfer of engagements takes effect on the day specified in the approval of the local Registrar.