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Building Societies Act 1965

Advances - General provisions as to advances on mortgage

46: Representation as to sufficiency of security

You could also call this:

"This rule about talking about enough security has been removed"

This section of the Building Societies Act 1965 used to be about representation regarding the sufficiency of security. However, it was removed from the law on 1 September 1987. This means that this part of the law no longer applies and you don't need to worry about it 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=DLM371687.

Topics:
Money and consumer rights > Banking and loansHousing and property > Buying and selling homes
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45: Implied warranty on advance to purchaser, unless notice given to the contrary, or

"This rule about building societies giving money to property buyers no longer exists"

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47: Restrictions on second or subsequent mortgages, or

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Part 3Advances
General provisions as to advances on mortgage

46Representation as to sufficiency of security (Repealed)

    Notes
    • Section 46: repealed, on , by section 12 of the Building Societies Amendment Act 1987 (1987 No 175).