QLDIn ForceAct
Financial Intermediaries Act 1996
sec.167Application of part
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sec.167 Application of part
This part applies only if— all funds raised by the societies proposing to consolidate their assets, liabilities and undertakings by way of merger, or transfer of engagements, and not repaid were provided by the same entity; and either— a guarantee is in force for each of the societies; or a guarantee is not in force for any of the societies.
- (a) all funds raised by the societies proposing to consolidate their assets, liabilities and undertakings by way of merger, or transfer of engagements, and not repaid were provided by the same entity; and
- (b) either— (i) a guarantee is in force for each of the societies; or (ii) a guarantee is not in force for any of the societies.
- (i) a guarantee is in force for each of the societies; or
- (ii) a guarantee is not in force for any of the societies.
- (i) a guarantee is in force for each of the societies; or
- (ii) a guarantee is not in force for any of the societies.