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Building Societies Act 1965

Powers of control of Registrar

64: Power to order suspension of borrowing and subscriptions for shares

You could also call this:

"The rule that let someone stop a building society from borrowing money or selling shares has been removed"

This part of the law used to give someone called the Registrar the power to tell a building society to stop borrowing money and stop letting people buy shares in it. However, this power no longer exists. The government removed this rule on 1 September 1987. They did this by changing the Building Societies Act.

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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=DLM371780.

Topics:
Money and consumer rights > Banking and loansHousing and property > Buying and selling homes
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"Old rule about choosing special building societies for trustees to invest in"

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Part 6Powers of control of Registrar

64Power to order suspension of borrowing and subscriptions for shares (Repealed)

    Notes
    • Section 64: repealed, on , by section 13 of the Building Societies Amendment Act 1987 (1987 No 175).