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Building Societies Act 1965

Investment and banking of surplus funds

55: Investment and banking of surplus funds

You could also call this:

“Old rules about how building societies could use extra money are no longer part of the law”

This section of the law about how building societies could invest and bank their extra money has been removed. It used to be part of the Building Societies Act 1965, but it’s not in use anymore. The government took it out of the law on 1 September 1987.

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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=DLM371711.

Topics:
Money and consumer rights > Banking and loans Housing and property > Buying and selling homes
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54: Interpretation, or

"Words used in the old rules about building societies' money"

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55A: Societies to hold certain public securities, or

"Old rule about societies holding special money has been removed"

Part 4 Investment and banking of surplus funds

55Investment and banking of surplus funds (Repealed)

    Notes
    • Section 55: repealed, on , by section 12 of the Building Societies Amendment Act 1987 (1987 No 175).