Mergers, Take-Overs and Monopolies (Control) Act, 1978
Application of certain statutory provisions relating to amalgamation. |
14.—(1) Nothing in the Companies Acts, 1963 to 1977, the Industrial and Provident Societies Acts, 1893 to 1971, the Building Societies Act, 1976 , or the Friendly Societies Acts, 1896 to 1977, shall be construed as relieving an enterprise of the obligation to comply with section 5. | |
(2) An order under section 201 or 203 of the Companies Act, 1963 , shall not be made in respect of a proposed amalgamation (being a proposed merger or take-over to which this Act applies) until either— | ||
(a) the Minister has stated in writing that he has decided not to make an order under section 9 in relation to the proposed amalgamation, or | ||
(b) the Minister has stated in writing that he has made a conditional order in relation to the proposed amalgamation, or | ||
(c) the relevant period within the meaning of section 6 has elapsed without the Minister's having made an order under section 9 in relation to the proposed amalgamation, | ||
whichever first occurs. | ||
(3) (a) A copy of a special resolution under section 53 of the Act of 1893, providing for the amalgamation of, or the transfer of engagements between, two or more societies registered under that Act (being a proposed merger or take-over to which this Act applies) shall not be registered under section 56 of the Act of 1893 until either— | ||
(i) the Minister has stated in writing that he has decided not to make an order under section 9 in relation to the proposed amalgamation or transfer of engagements, or | ||
(ii) the Minister has stated in writing that he has made a conditional order in relation to the proposed amalgamation or transfer of engagements, or | ||
(iii) the relevant period within the meaning of section 6 has elapsed without the Minister's having made an order under section 9 in relation to the proposed amalgamation or transfer of engagements, | ||
whichever first occurs. | ||
(b) In this subsection “the Act of 1893” means the Industrial and Provident Societies Act, 1893 . | ||
(4) (a) A copy of a special resolution under section 70 of the Act of 1896, providing for the amalgamation of, or the transfer of engagements between, two or more societies registered under that Act (being a proposed merger or take-over to which this Act applies) shall not be registered under section 75 of the Act of 1896 until either— | ||
(i) the Minister has stated in writing that he has decided not to make an order under section 9 in relation to the proposed amalgamation or transfer of engagements, or | ||
(ii) the Minister has stated in writing that he has made a conditional order in relation to the proposed amalgamation or transfer of engagements, or | ||
(iii) the relevant period within the meaning of section 6 has elapsed without the Minister's having made an order under section 9 in relation to the proposed amalgamation or transfer of engagements, | ||
whichever first occurs. | ||
(b) In this subsection “the Act of 1896” means the Friendly Societies Act, 1896 . | ||
(5) (a) A union of two or more societies which are registered under the Act of 1976, a transfer of engagements between two such societies or an undertaking by one such society to fulfill the engagements of another such society (being in each case a proposed merger or take-over to which this Act applies) shall not be registered under section 25 (2), 26 (2) or section 27 (6) of the Act of 1976 until either— | ||
(i) the Minister has stated in writing that he has decided not to make an order under section 9 in relation to the proposed union, transfer or undertaking, or | ||
(ii) the Minister has stated in writing that he has made a conditional order in relation to the proposed union, transfer or undertaking, or | ||
(iii) the relevant period within the meaning of section 6 has elapsed without the Minister having made an order under section 9 in relation to the proposed union, transfer or undertaking, | ||
whichever first occurs. | ||
(b) In this subsection “the Act of 1976” means the Building Societies Act, 1976 . |