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Incorporated Societies Act 2022

Enforcement - Financial gain

143: Society may recover financial gain from member

You could also call this:

"A society can get back money a member gained unfairly"

Illustration for Incorporated Societies Act 2022

You can get a financial gain from being part of a society. If you get this gain because the society broke rules in subpart 2 of Part 3, it is like you got the gain for the society. The society can take you to court to get this gain back as a debt. You can look at section 151 for more information about what the court can do.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS101031.

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Topics:
Money and consumer rights > Consumer protectionBusiness > Industry rules
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142: Court orders, or

"Going to court to get a fair order for a society"

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144: When member or officer may apply or intervene in proceeding on behalf of society, or

"When can a member help a society in court?"

Part 4Enforcement
Financial gain

143Society may recover financial gain from member

  1. A member or former member who obtains a financial gain as a result of the society contravening subpart 2 of Part 3 must be treated as having received the financial gain for the benefit of the society.

  2. The society may recover the financial gain from the member (or former member) in any court of competent jurisdiction as a debt due to the society.

  3. See section 151 (which provides for the court to refuse to consider an application).

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