Section 110 Transfer of engagements between societiesC1

(1)

A registered society (society A) may by special resolution transfer its engagements to any other registered society which undertakes to fulfil those engagements (society B).

(2)

If the resolution approves the transfer of all or part of society A's property to society B, the property vests in society B without any conveyance or assignment (or, in Scotland, assignation).

(3)

Section 111 contains provisions about special resolutions under this section.

(4)

The transfer of engagements does not prejudice any right of a creditor of either society.

Annotations

Modifications

C1: S. 110 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))