Part 9Amalgamations, conversions, dissolution etc
Conversion of society into company etc
112Conversion of society into a company, amalgamation with a company etc
(1)
A registered society may by special resolution determine to—
(a)
convert itself into a company,
(b)
amalgamate with a company, or
(c)
transfer its engagements to a company.
In this section “company” means a company under the Companies Acts.
(2)
A registered society's registration under this Act becomes void and (subject to section 126) must be cancelled by the FCA if the society—
(a)
is registered as a company,
(b)
amalgamates with a company, or
(c)
transfers all its engagements to a company.
(3)
Section 113 contains provisions about special resolutions under this section.
(4)
Section 114 contains further provisions about the conversion of a society into a company.
(5)
An amalgamation or transfer of engagements does not prejudice any right of a creditor of the society.