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Building Societies Act 1965

Borrowing powers. Investors and depositors

56: Borrowing powers

You could also call this:

"Building societies can no longer borrow money under this rule"

You can't borrow money under this rule anymore. The government removed this part of the law on 1 September 1987. Before that date, this section used to tell building societies how they could borrow money, but now it doesn't apply.

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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=DLM371725.

Topics:
Money and consumer rights > Banking and loansHousing and property > Buying and selling homes
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56G: Memorandum of discharge of mortgage, or

"How to officially clear a mortgage with a building society"

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57: Restrictions on savings bank deposits, or

"Building societies can't have savings accounts anymore"

Part 5Borrowing powers. Investors and depositors

56Borrowing powers (Repealed)

    Notes
    • Section 56: repealed, on , by section 12 of the Building Societies Amendment Act 1987 (1987 No 175).