South Australian Consolidated Acts

CO-OPERATIVES ACT 1997 - SECT 299

299—Approval of transfer of engagements

        (1)         The Commission must approve a transfer of engagements pursuant to an application under this Division if satisfied that—

            (a)         this Division has been complied with in relation to the application; and

            (b)         the rules or proposed rules of the transferee co-operative are adequate; and

            (c)         in the case of a total transfer of engagements from a co-operative, the certificate of registration of the co-operative has been surrendered to the Commission or has been lost or destroyed; and

            (d)         there is no good reason why the transfer of engagements should not take effect.

        (2)         A transfer of engagements takes effect on the day specified in the approval of the Commission.