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New Zealand law explained for everyone

Building Societies Act 1965

Investment and banking of surplus funds

55A: Societies to hold certain public securities

You could also call this:

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

This law is no longer in effect. It used to be about building societies holding certain public securities, but it was removed from the law on 1 September 1973. You don't need to follow this rule anymore because it's not part of the current law.

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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=DLM371721.

Topics:
Money and consumer rights > Banking and loansHousing and property > Buying and selling homes
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55: Investment and banking of surplus funds, or

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

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56A: Investment powers, or

"Building societies can invest their money in different ways"

Part 4Investment and banking of surplus funds

55ASocieties to hold certain public securities (Repealed)

    Notes
    • Section 55A: repealed, on , by section 14(2) of the Reserve Bank of New Zealand Amendment Act 1973 (1973 No 16).