(1) The reconstruction of a registered society may be effected by any of the following methods—
(a) the amalgamation of one society with another society to form a single society;
(b) the transfer of the assets and liabilities of one society to another society; or
(c) the division of a society into 2 or more societies.
(2) Sections 145 to 148 shall have effect with respect to the procedure that must be followed in relation to subsections (1)(a) to (1)(c).