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Building Societies Act 1965

Advances - General provisions as to advances on mortgage

41: Additional security for advances

You could also call this:

“Old rule about extra protection for building society loans no longer exists”

This section of the Building Societies Act 1965 used to talk about additional security for advances. However, this part of the law no longer exists. It was removed on 1 September 1987. This means that the rules about extra security for money lent by building societies have changed since then. If you want to know about the current rules, you would need to look at newer laws or ask a lawyer.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM371676.

Topics:
Money and consumer rights > Banking and loans Housing and property > Buying and selling homes
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40: Valuation of security, or

"Old rules about figuring out the worth of loan guarantees no longer exist"

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42: Record of advances, or

"Old rule about keeping track of money given out by building societies, no longer used"

Part 3 Advances
General provisions as to advances on mortgage

41Additional security for advances (Repealed)

    Notes
    • Section 41: repealed, on , by section 12 of the Building Societies Amendment Act 1987 (1987 No 175).
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