Plain language law

New Zealand law explained for everyone

Local Government Act 1974

Borrowing and security - Power to borrow

122ZAA: Internal borrowing

You could also call this:

"Borrowing money within a council is no longer allowed under this old rule"

Illustration for Local Government Act 1974

The law used to have a part called internal borrowing, but it is no longer in effect. You can find out what happened to it by looking at the Local Government Act 2002. This act changed the law on 1 July 2003, and you can read about it on the legislation website.

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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=DLM418580.

Topics:
Government and voting > Local councilsMoney and consumer rights > Banking and loans
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122ZA: General power to borrow, or

"Councils used to be able to borrow money, but this rule is no longer in use."

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122ZB: Power to enter into incidental arrangements, or

"Councils can make extra plans when borrowing money"

Part 7BBorrowing and security
Power to borrow

122ZAAInternal borrowing (Repealed)

    Notes
    • Section 122ZAA: repealed, on , by section 266 of the Local Government Act 2002 (2002 No 84).