(1) If the State
Registrar is the appropriate Registrar, he or she 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 participating co-operative,
the certificate of registration of the participating co-operative has been
surrendered to the participating Registrar; and
[(d), (e) deleted]
(f)
there is no good reason why the transfer of engagements should not take
effect.
(2) If the State
Registrar is not the appropriate Registrar, he or she must approve a transfer
of engagements pursuant to an application under this Division if satisfied
that the transfer has been approved under the provision of the corresponding
co-operatives law of the participating jurisdiction that corresponds with
subsection (1).
(3) A transfer of
engagements takes effect on the day specified in the approval of the State
Registrar.
[Section 395 amended: No. 7 of 2016 s. 150.]