Plain language law

New Zealand law explained for everyone

Building Societies Act 1965

Advances - General provisions as to advances on mortgage

43: Security taken from third party

You could also call this:

"This old rule about building societies getting security from others no longer exists"

This law was about security taken from a third party for building societies. It was part of the Building Societies Act 1965. However, this specific part of the law no longer exists. It was removed on 1 September 1987. The government decided to take it out of the law books. This means you don't need to worry about what it used to say anymore.

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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=DLM371680.

Topics:
Money and consumer rights > Banking and loansHousing and property > Buying and selling homes
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42: Record of advances, or

"Old rule about keeping track of money given out by building societies, no longer used"

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44: Arrangement for excess advance in connection with sale of property, or

"This rule about extra money for property sales no longer exists"

Part 3Advances
General provisions as to advances on mortgage

43Security taken from third party (Repealed)

    Notes
    • Section 43: repealed, on , by section 12 of the Building Societies Amendment Act 1987 (1987 No 175).