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Building Societies Act 1965

Constitution of building societies - Establishment and incorporation of societies

13A: Transitional arrangements

You could also call this:

“Rules for old building societies to follow new laws”

If you are part of a building society that was registered before section 13(2) came into effect, you need to know about some changes. Your society can keep operating, but within 12 months from when section 13(2) started, you must follow the new rules in section 13(2)(a), (c), and (d). You have to keep following these rules after that too.

If your society doesn’t follow these new rules within the 12-month period, the Registrar will do two things. First, they will cancel the registration of your society’s rules and change the records to show this. Second, they will cancel your society’s registration completely under section 124.

These changes are to help societies move from the old rules to the new ones. It’s important that you make sure your society follows the new rules in time to avoid being deregistered.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1087224.

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Part 2 Constitution of building societies
Establishment and incorporation of societies

13ATransitional arrangements

  1. Subsections (2) and (3) apply to a society whose rules were registered immediately before the commencement of section 13(2).

  2. The society continues to be registered on and after commencement and the society may continue in operation, but the society must, within 12 months of the date on which section 13(2) commences, comply with section 13(2)(a), (c), and (d) and continue to comply with those provisions thereafter.

  3. If the society fails to comply with subsection (2) within the 12-month period, the Registrar must—

  4. deregister the rules of the society, and amend the registers accordingly; and
    1. cancel the registration of the society under section 124.

      Notes
      • Section 13A: inserted, on , by section 27 of the Regulatory Systems (Economic Development) Amendment Act 2025 (2025 No 11).