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Building Societies Act 1965

Management and administration - Accounting records and financial reporting

97: Depositors and members entitled to be supplied with copy of financial statements

You could also call this:

"Members can get free copies of the society's money reports"

If you put money into a building society or are a member of one, you can ask for free copies of the society's latest financial statements and reports. These are the same documents that the society shows at their yearly big meeting.

When you ask for these papers, the people in charge of the society (called directors) must send them to you within a week.

But there are two times when you can't get these papers. First, if the society has already sent them to you before. Second, if you've already asked for and received them once using this rule.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM372059.

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Money and consumer rights > Banking and loansHousing and property > Buying and selling homes
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Part 7Management and administration
Accounting records and financial reporting

97Depositors and members entitled to be supplied with copy of financial statements

  1. Every depositor in or member of a society is entitled, on demand and without charge, to be supplied with copies of the last financial statements and reports of the society that are required to be laid before that society at the annual general meeting.

  2. The directors of the society must ensure that the depositor or member is sent copies of the financial statements and reports within 7 days after the demand is made.

  3. However, this section does not apply if the depositor in or member of the society—

  4. has previously been sent copies of the financial statements and reports; or
    1. has already demanded and received copies of the financial statements and reports under this section.

      Notes
      • Section 97: replaced, on , by section 7 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).