If the organisations concerned do not have a concentration, a merger process may be used. Unlike mergers, a merger is not based on a legislative procedure and is largely customizable. The merger is actually a contractual agreement between organizations to form a single organization (either by integrating a new structure and all the assets transferred to that structure, or by transferring assets to another). Where applicable, the merger process is defined in the legislation of the registered association for each state and territory. If individual associations come together, they form a new registered association and the competent state regulatory authority will cancel the constitution of each of the associations without having to wrap them up. A type of merger – similar to a merger – combines the assets and liabilities of both companies as well as the interests of shareholders. All assets of the transferred company become those of the transferred company. Due diligence is a process in which both organizations examine each other by entering certain information from the other organization and then verifying and analyzing that information, often with the help of professionals such as lawyers and accountants. In particular, organizations should consider risks and liabilities (e.g. B ongoing litigation or tax debts) that may be related to an organization, since they may be bequeathed in the event of a merger. The operations of the transferred company are continued after the merger. No adjustment of the book values shall be made.
The shareholders of the transferring company, who hold a nominal value of at least 90% of the shares, become shareholders of the transferring company. agreement on other terms of the merger agreement, the merger contract or the draft terms of division; In the past, chain mergers and mergers of trading companies have been carried out in order to avoid proper compliance with the obligations related to the liquidation or bankruptcy of these companies. Therefore, an amendment to the Commercial Code, approved on 12 October 2017, introduces, among other things, stricter conditions for the merger, merger and division of companies. The following fact sheet summarizes the legal transfer process according to the Law on Associations (NT) and the Regulations of the Association (NT). This is a way to achieve a result similar to amalgamation for clubs registered in the Northern Territory. The following factsheet contains information on: There is currently no specific merger process for associations registered in the Northern Territory. In November 2015, the pharmaceutical group Natco Pharma obtained the shareholders` agreement to merge its subsidiary Natco Organics into the company. The results of postal voting and electronic voting showed that the decision was adopted by 99.94% yes, 0.02% against and 0.04%. Can the competent authorities of the parties approve it? The conditions for the merger shall be laid down by the board of directors of each undertaking. .