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Building Societies Act 1965

Borrowing powers. Investors and depositors

58: Interest on deposits

You could also call this:

"Rules about interest on savings no longer apply to building societies"

This law about interest on deposits for building societies has been removed. It no longer applies. The government took it out of the rules on 1 September 1987. This means building societies don't have to follow this specific rule about interest on deposits 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=DLM371740.

Topics:
Money and consumer rights > Banking and loansHousing and property > Buying and selling homes
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57A: Home ownership accounts and farm ownership accounts, or

"Old rules about special savings accounts for homes and farms no longer apply"

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59: Liability for borrowing in excess of powers, or

"This rule about borrowing too much money from building societies no longer exists"

Part 5Borrowing powers. Investors and depositors

58Interest on deposits (Repealed)

    Notes
    • Section 58: repealed, on , by section 12 of the Building Societies Amendment Act 1987 (1987 No 175).