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Incorporated Societies Act 2022

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

196: Officers must sign certificate

You could also call this:

"Officers must sign a certificate when voting to amalgamate a society"

Illustration for Incorporated Societies Act 2022

You are an officer of a society that is amalgamating. If you vote for a resolution under section 194(1), you must sign a certificate. You must state that you think the conditions in that subsection are met and give your reasons for thinking that. If you do not sign the certificate, you can be charged with an offence and fined up to $5,000 if you are convicted.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS254741.

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195: Solvency test for amalgamations, or

"A society must have enough assets to pay its debts when it merges with another society."

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"When societies merge, they must register with the Registrar."

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

196Officers must sign certificate

  1. Every officer of an amalgamating society who votes in favour of a resolution under section 194(1) must sign a certificate stating—

  2. that, in the officer’s opinion, the conditions set out in that subsection are satisfied; and
    1. the grounds for that opinion.

      1. An officer who fails to comply with this section commits an offence and is liable on conviction to a fine not exceeding $5,000.