Industrial Relations Regulation 2018
sec.136Order to apportion assets and liabilities on withdrawal
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sec.136 Order to apportion assets and liabilities on withdrawal
If the commission fixes a withdrawal day, the commission must make the orders necessary to apportion the assets and liabilities of the amalgamated organisation between the amalgamated organisation and the proposed newly registered organisation. In making the order, the commission must consider— the assets and liabilities of the constituent part before it, or the organisation of which it was a branch, was deregistered for the formation of the amalgamated organisation; and any change in the net value of those assets or liabilities since the amalgamation; and the interests of the creditors of the amalgamated organisation. (sec.136-ssec.1) If the commission fixes a withdrawal day, the commission must make the orders necessary to apportion the assets and liabilities of the amalgamated organisation between the amalgamated organisation and the proposed newly registered organisation. (sec.136-ssec.2) In making the order, the commission must consider— the assets and liabilities of the constituent part before it, or the organisation of which it was a branch, was deregistered for the formation of the amalgamated organisation; and any change in the net value of those assets or liabilities since the amalgamation; and the interests of the creditors of the amalgamated organisation.
- (a) the assets and liabilities of the constituent part before it, or the organisation of which it was a branch, was deregistered for the formation of the amalgamated organisation; and
- (b) any change in the net value of those assets or liabilities since the amalgamation; and
- (c) the interests of the creditors of the amalgamated organisation.