474Definitions

474 Definitions

474 Definitions

In this Part—

appropriate Registrar, in relation to a proposed merger or transfer of engagements, means—

(a) the local Registrar—if the merger is to result in a local co-operative or the transfer is to a local co-operative; or

(b) the participating Registrar—if the merger is to result in a co-operative under the co-operatives law of the participating jurisdiction concerned or the transfer is to such a co-operative.

assets has the same meaning as it has in section 413.

instrument has the same meaning as it has in section 413.

liabilities has the same meaning as it has in section 413.

local co-operative means a co-operative registered in this jurisdiction.

original co-operative means—

(a) in the case of a transfer of engagements—the transferor co-operative; or

(b) in the case of a merger—each of the co-operatives that are merging.

rights has the same meaning as it has in section 413.

successor co-operative means—

(a) in the case of a transfer of engagements—the transferee co-operative; or

(b) in the case of a merger—the co-operative formed by the merger.