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Local Government Act 1974

Land development for housing, commercial, and industrial purposes - Advances to financial institutions and guarantees of housing loans

565: Power of council to guarantee loans for erection of flats

You could also call this:

"Councils used to be able to help people get loans to build flats, but they can't do this anymore."

Illustration for Local Government Act 1974

The council had the power to guarantee loans for building flats, but this power is no longer available. You can find more information about when this power was removed by looking at the Local Government Act 2002. This change happened on 1 July 2003.

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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=DLM422149.

Topics:
Government and voting > Local councilsHousing and property > Land use
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564: Guarantees by council of portions of mortgages granted for housing purposes, or

"Councils used to help people buy homes by promising to pay back part of their mortgage."

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566: Council may guarantee certain replacement mortgages, or

"Council can help guarantee some home loans"

Part 32Land development for housing, commercial, and industrial purposes
Advances to financial institutions and guarantees of housing loans

565Power of council to guarantee loans for erection of flats (Repealed)

    Notes
    • Section 565: repealed, on , by section 266 of the Local Government Act 2002 (2002 No 84).