Building Societies Act 1965

Conversion to company

113S: Registers

You could also call this:

"Official records don't change when a building society becomes a company"

When a building society changes into a company, the people who keep official books and records don't have to change the society's name to the company's name in their records just because of this change.

If the company gives any official person a document about property that the society owned before changing to a company, and the document says the property now belongs to the company, this is usually enough proof that the company owns the property.

You don't have to pay any fees to the Registrar-General of Land under the Land Transfer Act 2017 for things that happen only because a society changed its name to a company. But if the society or the new company asks for something to be done, they might have to pay fees.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM372355.


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"A building society that becomes a company still has to pay the same taxes and fees"


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Part 7AConversion to company

113SRegisters

  1. The Registrar-General of Land, the Registrar of Deeds, or any other person charged with the keeping of any books or registers is not obliged solely by reason of the foregoing provisions of this Part to change the name of a society to that of a company in those books or registers or in any document.

  2. The presentation to any registrar or other person of any instrument, whether or not comprising an instrument of transfer by the company,—

  3. executed or purporting to be executed by the company; and
    1. relating to any property held immediately before the conversion date by the society; and
      1. containing a recital that that property has become vested in the company, by virtue of the provisions of this Part—
        1. shall, in the absence of evidence to the contrary, be sufficient proof that the property is vested in the company.

        2. No fee shall be payable to the Registrar-General of Land under the Land Transfer Act 2017 or any regulations made under that Act for any act, matter, or thing in respect of which a fee is prescribed if the act or thing is done or the matter arises—

        3. solely by reason of the change of name of a society to that of a company pursuant to this Part; and
          1. other than at the request of the society or the company into which the society has become converted.
            Notes
            • Section 113S: inserted, on , by section 26 of the Building Societies Amendment Act 1987 (1987 No 175).
            • Section 113S(1): amended, on , by section 250 of the Land Transfer Act 2017 (2017 No 30).
            • Section 113S(3): amended, on , by section 250 of the Land Transfer Act 2017 (2017 No 30).