(a)"amalgamation" means the merger of an amalgamating co-operative bank with an amalgamated co-operative bank, if—(i)all the assets and liabilities of the amalgamating co-operative bank or banks immediately before the merger (other than the assets transferred, by sale or distribution on winding up, to the amalgamated co-operative bank) become the assets and liabilities of the amalgamated co-operative bank;(ii)the members holding 75% or more voting rights in the the amalgamating co-operative bank become members of amalgamated co-operative bank; and(iii)the shareholders holding 75% or more in value of the shares in the amalgamating co-operative bank (other than the shares held by the amalgamated co-operative bank or its nominee or its subsidiary, immediately before the merger) become shareholders of the amalgamated co-operative bank;
