sec.479Approval of merger

sec.479 Approval of merger

If the local Registrar is the appropriate Registrar, he or she must approve a merger pursuant to an application under this Part if satisfied that— this Part has been complied with in relation to the application; and the proposed rules of the merged co-operative are adequate; and the certificate of registration of the local co-operative has been surrendered to the local Registrar; and the certificate of registration of the participating co-operative has been surrendered to the Registrar for the participating jurisdiction concerned; and there is no good reason why the merged co-operative and its rules should not be registered. If the local Registrar is not the appropriate Registrar, he or she must approve a merger pursuant to an application under this Part if satisfied that the merger has been approved under the provision of the co-operatives law of the participating jurisdiction that corresponds with subsection (1) . On approving an application for merger, the local Registrar must— cancel the registration of the local co-operative involved in the merger; and if the merger is to result in a local co-operative, register the merged co-operative and its rules and issue to it a certificate of registration under this Law. A merger takes effect on the issue of the certificate of registration for the merged co-operative (whether under this Law or under the co-operatives law of the participating jurisdiction concerned). (sec.479-ssec.1) If the local Registrar is the appropriate Registrar, he or she must approve a merger pursuant to an application under this Part if satisfied that— this Part has been complied with in relation to the application; and the proposed rules of the merged co-operative are adequate; and the certificate of registration of the local co-operative has been surrendered to the local Registrar; and the certificate of registration of the participating co-operative has been surrendered to the Registrar for the participating jurisdiction concerned; and there is no good reason why the merged co-operative and its rules should not be registered. (sec.479-ssec.2) If the local Registrar is not the appropriate Registrar, he or she must approve a merger pursuant to an application under this Part if satisfied that the merger has been approved under the provision of the co-operatives law of the participating jurisdiction that corresponds with subsection (1) . (sec.479-ssec.3) On approving an application for merger, the local Registrar must— cancel the registration of the local co-operative involved in the merger; and if the merger is to result in a local co-operative, register the merged co-operative and its rules and issue to it a certificate of registration under this Law. (sec.479-ssec.4) A merger takes effect on the issue of the certificate of registration for the merged co-operative (whether under this Law or under the co-operatives law of the participating jurisdiction concerned).