Building Societies Act 1965

Constitution of building societies - Membership

25: Members under age of 20

You could also call this:

"Young people can join building societies but have limited rights"

If the rules of a building society allow it, you can become a member even if you're younger than 20 years old. As a young member, you can give all the receipts that are needed. However, there are some things you can't do until you're older. If you're under 18 years old, you're not allowed to vote or have any official job in the building society.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM371613.


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24: Members who are not shareholders, or

"You can join a building society without buying a share"


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26: Joint shareholders, or

"Sharing ownership of building society shares with others"

Part 2Constitution of building societies
Membership

25Members under age of 20

  1. Any person under the age of 20 years may, if the rules do not otherwise provide, be admitted as a member of a building society, and can give all necessary receipts; but while he or she is under the age of 18 years he or she cannot vote or hold any office in the society.

Compare
  • 1908 No 18 s 42
  • Building Societies Act 1962 s 9 (UK)
Notes
  • Section 25 heading: amended, on , by section 6 of the Age of Majority Act 1970 (1970 No 137).
  • Section 25: amended, on , by section 6 of the Building Societies Amendment Act 1980 (1980 No 92).
  • Section 25: amended, on , by section 6 of the Age of Majority Act 1970 (1970 No 137).