424Court need not approve compromise or arrangement

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

Co-operatives (National Uniform Legislation) Act 2015 260 (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.