Queensland Consolidated Acts

FINANCIAL INTERMEDIARIES ACT 1996 - SECT 169

(1) This section applies if societies have applied to register a merger and the registrar is satisfied that—

(a) the societies involved have complied with section 168; and

(b) the proposed rules of the merged society are adequate; and

(c) there are reasonable grounds for believing that the merged society will be able to comply with all relevant standards; and

(d) the certificates of incorporation of the societies involved in the merger have been—

(i) surrendered to the registrar; or

(ii) lost or destroyed; and

(e) there is no good reason why the merged society and its rules should not be registered.

(2) The registrar must—

(a) register the merged society; and

(b) register its rules; and

(c) cancel the registration of the societies involved in the merger.

(3) On registering the merged society, the registrar must issue to the society a certificate of incorporation.

(4) A merger takes effect on the issue of the certificate of incorporation.