sec.177Effect of merger on societies

sec.177 Effect of merger on societies

This section applies on a merger of societies taking effect. The merged society is the successor of the merging societies. Without limiting subsection (2) — the members of each merging society become members of the merged society; and all assets and liabilities of each merging society become assets and liabilities of the merged society without any conveyance, transfer or assignment; and in all documents (including, for example, a contract to which a merging society was a party), a reference to a merging society is a reference to the merged society; and a legal proceeding by or against a merging society that is not finished when the merger takes effect may be continued and finished by or against the merged society; and the duties, obligations, immunities, rights and privileges applying to a merging society apply to the merged society. s 177 (4) AIA s 20A applies (see s 177(5)) (4)–(6) exp 1 October 1997 (see s 177(6)) (sec.177-ssec.1) This section applies on a merger of societies taking effect. (sec.177-ssec.2) The merged society is the successor of the merging societies. (sec.177-ssec.3) Without limiting subsection (2) — the members of each merging society become members of the merged society; and all assets and liabilities of each merging society become assets and liabilities of the merged society without any conveyance, transfer or assignment; and in all documents (including, for example, a contract to which a merging society was a party), a reference to a merging society is a reference to the merged society; and a legal proceeding by or against a merging society that is not finished when the merger takes effect may be continued and finished by or against the merged society; and the duties, obligations, immunities, rights and privileges applying to a merging society apply to the merged society.

• (a) the members of each merging society become members of the merged society; and
• (b) all assets and liabilities of each merging society become assets and liabilities of the merged society without any conveyance, transfer or assignment; and
• (c) in all documents (including, for example, a contract to which a merging society was a party), a reference to a merging society is a reference to the merged society; and
• (d) a legal proceeding by or against a merging society that is not finished when the merger takes effect may be continued and finished by or against the merged society; and
• (e) the duties, obligations, immunities, rights and privileges applying to a merging society apply to the merged society.