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Status: You are viewing the version of the handbook as on 2009-03-31.

BSOG 2.7 Registration And Dissolution

BSOG 2.7.1G

When the Authorityhas confirmed a merger (whether voluntary or under direction) it will notify the registration teamand the societies concerned.

BSOG 2.7.2G

In the case of an amalgamation, the registration teamis required to be satisfied as regards the proposed Rules, Memorandum and name of the successor society. The amalgamating societies are, therefore, advised to clear drafts of the proposed Rules and Memorandum with the registration teamat an early stage (see paragraphBSOG 2.3.28 G). When they apply to the Authorityfor confirmation under Section 93(2) of the 1986 Act, the amalgamating societies must alsosend three signed copies of the Rules and Memorandum to the registration team(Section 93(2)(d)). If the registration teamis satisfied on these matters it will, upon confirmation, register the successor society and issue to it a certificate of incorporation specifying the date (the specified date) from which the incorporation takes effect, and will return to it one copy each of the Rules and Memorandum together with a certificate of registration. Copies are placed on the public file of the successor society.

BSOG 2.7.3G

On the specified date of the amalgamation, all the property, rights and liabilities of the amalgamating societies are transferred to the successor society, the successor is given such permission under Part IVof the Act as the Authorityconsiders appropriate, and the amalgamated societies are dissolved and their registrations cancelled (Section 93, sub-sections (4), (5) and (6) and Section 103(1) of the 1986 Act). In deciding on the appropriate terms of the permission for the successor society, the Authoritywill have regard to the terms of the permissions of the amalgamating societies, including any limitations or requirements. It will also have regard to the business plan for the successor society.

BSOG 2.7.4G

In the case of a transfer of engagements, the registration teamwill register a copy of the Instrument of Transfer and issue a registration certificate to the transferee society. A copy of the Instrument of Transfer and the registration certificate are placed on the public file of the transferee society. On the date specified in the registration certificate, the property, rights and liabilities of the transferor society are transferred to the transferee society, by virtue of Section 94(8) of the 1986 Act, the transferor society's authorisation is revoked by the Authority, and the society itself is dissolved (Section 94(10)). The transferor society's registration is subsequently cancelled by the registration teamunder Section 103(1).