Part 7AConversion to company
113NRetention of trustee investment status for 5 years from conversion (Repealed)
Notes
- Section 113N: repealed, on , by section 16(1) of the Trustee Amendment Act 1988 (1988 No 119).
Building Societies Act 1965
Conversion to company
113N: Retention of trustee investment status for 5 years from conversion
"Building societies can no longer keep their special investment status after changing to companies"
This section of the law has been removed. It used to talk about how a building society could keep its status as a trustee investment for 5 years after it changed into a company. But this rule doesn't apply anymore because it was taken out of the law on 1 October 1988.
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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=DLM372344.
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113M: Prohibition on opening of new bonus balloting accounts after conversion date, or
"New companies can't start bonus prize accounts"
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113O: Retention of approved status for accepting deposits in home ownership or farm ownership accounts, or
"Companies can still accept special home and farm savings after changing from a building society"