Section 109 Amalgamation of societiesC1

(1)

Any two or more registered societies may, by special resolution of each of them, become amalgamated together as one society.

(2)

The amalgamation may involve the dissolution, or division of the funds, of any of the societies.

(3)

On the amalgamation, the property of each of the societies vests in the amalgamated society without the need for any form of conveyance other than that contained in the special resolution.

(4)

Section 111 contains provisions about special resolutions under this section.

(5)

The amalgamation does not prejudice any right of a creditor of any of the societies.

Annotations

Modifications

C1: S. 109 modified by 1979 c. 34, s. 21(1)-(3A) (as amended (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 11(2)-(4) (with Sch. 5))

Notes on Amalgamations and transfers of engagements between societies etc

Textual amendments

F1: Word in s. 118 heading heading inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 3 para. 52(2) (with ss. 2(2), 5(2))