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Incorporated Societies Act 2022

Removal from register, amalgamation, liquidation, and other processes - Amalgamations

193: Information relating to proposal for members, creditors, and public

You could also call this:

"Information About a Society's Amalgamation Plan for Members, Creditors, and the Public"

Illustration for Incorporated Societies Act 2022

When a society is planning to amalgamate, the committee must send information to you if you are a member. They must send you a copy of the amalgamation proposal and other information required by the regulations at least 20 working days before the amalgamation happens. They also have to send this information to secured creditors and give public notice of the proposed amalgamation. The committee must follow the regulations when giving public notice of the amalgamation. They have to send the information to every secured creditor of the society. You can get a copy of the amalgamation proposal and other information if you are a member or a secured creditor. The regulations say how the committee must give public notice of the proposed amalgamation. The committee has to follow these rules when sending information to members and secured creditors. This helps keep you informed if you are affected by the amalgamation.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS101087.

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Topics:
Money and consumer rights > Consumer protectionBusiness > Industry rules
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192: Amalgamation proposal, or

"A plan to join two or more groups together into one new group"

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194: Approval of amalgamation proposal, or

"Agreeing to Join Two or More Societies Together"

Part 5Removal from register, amalgamation, liquidation, and other processes
Amalgamations

193Information relating to proposal for members, creditors, and public

  1. The committee of each amalgamating society must, not less than 20 working days before the amalgamation is proposed to take effect,—

  2. send to each member of that society a copy of the amalgamation proposal and all other information prescribed by the regulations (if any); and
    1. send to every secured creditor of the society a copy of the amalgamation proposal and all other information prescribed by the regulations (if any); and
      1. give public notice of the proposed amalgamation in the manner prescribed by the regulations.