Co-operatives National Law (NSW)
424Court need not approve compromise or arrangement takeovers
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424 Court need not approve compromise or arrangement takeovers
424 Court need not approve compromise or arrangement takeovers
(1) The Supreme Court need not approve a compromise or arrangement unless—
(a) it is satisfied the compromise or arrangement has not been proposed for enabling a person to avoid the operation of any provision of Division 2 of Part 3.5; and
(b) there is produced to the court a written statement by the Registrar stating the Registrar has no objection to the compromise or arrangement.
(2) The Supreme Court need not approve a compromise or arrangement merely because a statement by the Registrar stating the Registrar has no objection to the compromise or arrangement has been produced to the court.