Registration for eligible merged parties

(1) The Chief Electoral Officer shall amend the registry of political parties by replacing the names of the merging parties with the name of the merged party if 

(a) the application for the merger was not made in the period referred to in subsection 421(1); and

(b) he or she is satisfied that

(i) the merged party is eligible for registration under this Act, and

(ii) the merging parties have discharged their obligations under this Act, including their obligations to report on their financial transactions and their election expenses and to maintain valid and up-todate information concerning their registration.