Merger by absorption of co-operatives
Last updated: 6 November 2021.
You report a merger by absorption in two steps.
The process consists of a decision to merge and the implementation of the merger.
Within one month after the date when the companies in question approve the merger plan, the Register of Business Enterprises must be notified of the decision. When the last company approves the merger plan, the one-month time limit starts running.
If the merger has to be approved by the Foundation Authority, the time limit will be changed to one month after their approval.
If the notification is not received by the Register of Business Enterprises within the time limit, the decision is annulled.
The acquired company has to attach
- the minutes from the annual meeting, approving the merger plan
- approval from the Foundation Authority, if necessary
The acquiring company has to attach
- the minutes from the annual meeting, approving the merger plan
- approval from the Foundation Authority, if necessary
If the merger results in members from the acquired or the acquiring company being entitled to a larger share of the remaining assets during the dissolution of the company, approval from the Foundation Authority must be attached.
For more information about the decision of a merger by absorption, have a look at the Cooperative Societies Act, chapter 8.
After the registration of the decision, and when the creditor deadline of six weeks has passed, you can report the implementation of the merger. There is no time limit to notifying the Register of Business Enterprises of the implementation.
The following documents must be attached
There are no required attachments.