s 239 Effect of registration
(1) Upon the registration of the new CIO it becomes by virtue of the registration a body corporate— (a) whose constitution is that proposed in the application for amalgamation, (b) whose name is that specified in the constitution, and (c) whose first members are the members of the old CIOs immediately before the new CIO was registered. (2) Upon the registration of the new CIO— (a) all the property, rights and liabilities of each of the old CIOs become by virtue of this subsection the property, rights and liabilities of the new CIO, and (b) each of the old CIOs is dissolved. (3) Subsection (4) applies to a gift if— (a) the gift would have taken effect as a gift to one of the old CIOs if it had not been dissolved, and (b) the date on which the gift would have taken effect is a date on or after the date of the registration of the new CIO. (4) The gift takes effect as a gift to the new CIO.