Plain language law

New Zealand law explained for everyone

Building Societies Act 1965

Constitution of building societies - Establishment and incorporation of societies

15: Incorporation of society

You could also call this:

“A building society becomes a separate legal entity when it's officially registered”

When a society gets a certificate of incorporation, it becomes a body corporate from the date mentioned in that certificate. This means the society will continue to exist forever and will have its own official seal. The society will be known by the name that’s written in its registered rules.

The official seal of the society must have the society’s registered name on it.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM371386.

Topics:
Money and consumer rights > Banking and loans Housing and property > Buying and selling homes Business > Starting a business
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"Rules for starting a building society must be checked and approved"

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16: Appeal against refusal to register, or

"You can ask a judge to look at your rules if the Registrar says no"

Part 2 Constitution of building societies
Establishment and incorporation of societies

15Incorporation of society

  1. From the date of incorporation mentioned in such certificate of incorporation as aforesaid, the society shall become a body corporate, by the name contained in the rules so registered, having perpetual succession and a common seal.

  2. The common seal of the society shall bear the registered name of the society.

Compare
  • 1908 No 18 s 6
  • Building Societies Act 1962 s 3 (UK)