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Building Societies Act 1965

Constitution of building societies - Purchase of shares in terminating societies

27E: No contracting out

You could also call this:

“This rule about agreements for buying shares in certain societies no longer exists”

This part of the law used to say something about not being able to make agreements that go against the rules for buying shares in terminating societies. However, this rule doesn’t exist anymore. It was removed from the Building Societies Act 1965 on 1 April 1981. This means that whatever it used to say no longer applies to building societies in New Zealand.

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Topics:
Money and consumer rights > Banking and loans Housing and property > Buying and selling homes
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27D: Effect of cancellation of agreement, or

"What happens when an agreement to buy shares in a closing building society is cancelled (no longer applies)"

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27F: Schedule 7 may be amended, or

"The rule about changing a list of building society rules doesn't exist anymore"

Part 2 Constitution of building societies
Purchase of shares in terminating societies

27ENo contracting out (Repealed)

    Notes
    • Section 27E: repealed, on , by section 7(1)(a) of the Building Societies Amendment Act 1980 (1980 No 92).
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