I1Part VIII Amalgamations, Transfers of Engagements and Conversion of Friendly Societies into Companies
Amalgamations
85 Amalgamation of friendly societies.
1
Any two or more friendly societies may, in accordance with this Part of this Act, amalgamate by establishing an incorporated friendly society as their successor.
2
In order to establish a society as their successor, friendly societies proposing to amalgamate must—
a
comply with the applicable requirements of Part I of Schedule 15 to this Act;
b
take the steps required by paragraph 1(2) of Schedule 3 to this Act;
c
each approve the proposed amalgamation and the terms on which it is to take place by special resolution; and
d
obtain the confirmation of the Commission of the amalgamation;
and, on obtaining that confirmation, the successor may be registered and incorporated under this Act.
3
If the Commission confirms the amalgamation and the successor society is registered under this Act, the certificate of incorporation issued by the central office shall specify a date as the transfer date for that amalgamation.
4
On the transfer date—
a
all the property, rights and liabilities of each society participating in the amalgamation shall become by virtue of this subsection the property, rights and liabilities of the successor society; and
b
each such society shall be dissolved;
but the transfer from each such society effected by paragraph (a) above shall be deemed to have been effected immediately before the dissolution of that society.
5
Where a friendly society is dissolved by subsection (4)(b) above, its registration under this Act or the 1974 Act shall be cancelled by the central office.
6
Schedule 15 to this Act has effect for supplementing this section.
Pt. VIII (ss. 85-92) wholly in force; Pt. VIII not in force at Royal Assent see s. 126(2); Pt. VIII in force at 13.9.1993 by S.I. 1993/2213, art. 2(1), Sch. 3