Part 5Borrowing powers. Investors and depositors
63Designation of societies for investments by trustees (Repealed)
Notes
- Section 63: repealed, on , by section 12 of the Building Societies Amendment Act 1987 (1987 No 175).
Building Societies Act 1965
Borrowing powers. Investors and depositors
63: Designation of societies for investments by trustees
"Old rule about choosing special building societies for trustees to invest in"
The law used to have a section about choosing certain building societies where trustees could invest money. This section was called 'Designation of societies for investments by trustees'. However, this part of the law no longer exists. It was removed on 1 September 1987 by another law that changed the rules for building societies.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM371754.
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62: Depositor under age of 20, or
"People under 20 can no longer use special rules for putting money in building societies"
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64: Power to order suspension of borrowing and subscriptions for shares, or
"The rule that let someone stop a building society from borrowing money or selling shares has been removed"