399Approval of merger

399 Approval of merger

(1) The Registrar must approve a merger under an application under this Division if satisfied:

(a) this Division and the National Regulations have been complied with in relation to the application; and

(b) the proposed rules of the merged co-operative are consistent with this Law and may reasonably be approved; and

(c) the certificates of registration of the co-operatives have been surrendered to the Registrar; and

(d) there is no good reason why the merged co-operative and its rules should not be registered.

(2) On approving an application for merger, the Registrar must:

(a) cancel the registration of the co-operatives involved in the merger; and

(b) register the merged co-operative and its rules; and

(c) issue to the merged co-operative a certificate of registration under this Law.

(3) A merger takes effect on the issue of the certificate of registration for the merged co-operative.