Section 61Part 10 — Miscellaneous
Amalgamation
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Any two or more registered societies may, by special resolution of both or all such societies, become amalgamated as one society with or without any dissolution or division of the funds of such societies or either of them, and the property of such societies shall become vested in the amalgamated society without the necessity of any form of conveyance other than that contained in the special resolution amalgamating the societies: Provided that amalgamation, in pursuance of this Law, shall not prejudice any right of a creditor of any registered society which is a party thereto.
A copy of every special resolution, signed by the chairperson of the meeting at which the resolution was confirmed, and countersigned by the secretary of the society, shall be sent to the Registrar and registered, and until that copy is so registered the special resolution shall not take effect.
For the purposes of subsections (1) and (2), a special resolution means a resolution which is —
passed by a majority of not less than seventy-five per cent of such members of a registered society for the time being entitled to vote as may have voted in person or by proxy, where voting by proxy is allowed by this Law, at any general meeting of which notice specifying the intention to propose the resolution has been duly given according to the rules; and
confirmed by a majority of such members for the time being entitled to vote as may have voted in person or by proxy, where voting by proxy is allowed by this Law, at a subsequent general meeting of which notice has been duly given, held not less than fourteen days nor more than one month from the day of the meeting at which such resolution was first passed.
Defined Terms
special resolution