Section 90: Amalgamation

90. Amalgamation (1) Two or more societies may resolve to amalgamate into one society by a resolution passed at a special general meeting of each amalgamating society. (2) Where an amalgamation involves the transfer of liabilities by one society to another, the amalgamating societies shall give at least 3 months’ notice of the amalgamation to the creditors of the societies. (3) Any creditor of any amalgamating society shall be entitled to a refund of any sum due to him if he makes a request in writing to this effect at least one month before the date fixed for the amalgamation. (4) Any member of an amalgamating society may, by notice in writing addressed to the society at least one month before the date fixed for the amalgamation, declare his intention not to become a member of the new society and he shall, on making the declaration, be entitled to a refund of his share. (5) The Registrar shall, after receiving an application for the registration of the proposed amalgamated society, register the amalgamated society where he is satisfied that— (a) this section has been complied with; and (b) the proposed rules of the new society are in conformity with this Act. (6) Where the Registrar refuses to register the proposed amalgamated society, any aggrieved society may, within 21 days of the refusal, appeal to the Tribunal. (7) The registration of the amalgamating societies shall, on the registration of the amalgamated society, be cancelled. (8) The registration of the amalgamated society shall be sufficient conveyance to transfer the assets and liabilities of the amalgamating societies to the amalgamated society and the members of the amalgamating societies shall become members of the amalgamated society. (9) Any creditor of the amalgamating societies or any other person having a claim against the amalgamating societies, and whose claim was not satisfied before the registration of the amalgamated society, may pursue his claim against the amalgamated society. C49 – 47 [Issue 9] Co-Operatives Act