Amalgamation of Societies

Civil200531 sections

Statutory text

(1) Whenever two or more societies desire to amalgamate, the Governing Body of each society shall submit the proposal in writing to the member thereof and such proposal shall be considered in a general meeting of the society convened for the purpose.
(2) No such proposal shall have any effect unless -
- (a) it has been delivered or sent by registered post to the members of each of the societies at least ten days before the date of the meeting at which it will be considedred;
- (b) it has been sent to the Registrar before the meeting and communicated his approval thereto, with or without any modifications;
- (c) the proposal, with the modifications, if any, suggested by the Registrar, is agreed to by three-fourths of the members of each of the societies concerned and confirmed by like votes of members at the subsequent general meeting of the amalgamated society.
(3) An appeal shall lie to the State Government against any order of Registrar refusing to accord his approval to the propossal or to his suggestions for any modification and the decisions for any modification and the decision of the State Government on such appeal shall be final.
(4) On the proposal being confirmed -
- (a) the amalgamated society shall be registered under its new name;
- (b) the registration of the amalgamating society shall be cancelled; and
- (c) the assets and liabilities of the amalgamating societies shall be the assets and liabilities of the amalgamated society.

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