sec.480Approval of transfer of engagements

sec.480 Approval of transfer of engagements

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— this Part has been complied with in relation to the application; and the rules or proposed rules of the transferee co-operative are adequate; and 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 there is no good reason why the transfer of engagements should not take effect. 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) . A transfer of engagements takes effect on the day specified in the approval of the local Registrar. (sec.480-ssec.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— this Part has been complied with in relation to the application; and the rules or proposed rules of the transferee co-operative are adequate; and 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 there is no good reason why the transfer of engagements should not take effect. (sec.480-ssec.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) . (sec.480-ssec.3) A transfer of engagements takes effect on the day specified in the approval of the local Registrar.

• (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.