51 Transfer of engagements between societies. E+W+S
(1)Any registered society may by special resolution transfer its engagements to any other registered society which may undertake to fulfil those engagements; and if that resolution approves the transfer of the whole or any part of the society’s property to that other society, the whole or, as the case may be, that part of the society’s property shall vest in that other society without any conveyance or assignment.
(2)Subsections (2) to (5) of section 50 of this Act shall have effect for the purposes of this section as they have effect for the purposes of that section.
(3)In its application to Scotland, subsection (1) of this section shall have effect as if for the word “assignment” there were substituted the word “assignation”.
Modifications etc. (not altering text)
C1Ss. 50, 51 modified by Credit Unions Act 1979 (c. 34, SIF 55:3), s. 21
C2S. 51 restricted (1.10.1996) by 1996 c. 52, s. 7, Sch. 1 Pt. II para. 12(2)(with s. 51(4)); S.I. 1996/2402, art. 3
S. 51 applied (1.10.1996) by 1996 c. 52, s. 48(2)(with s. 51(4)); 1996/2402, art. 3