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75 BUILDING SOCIETIES

Assets Vary To £4om (N.Z. Press Association) WELLINGTON, July 18. Seventy-five building societies, with assets varying from more than £4O million to just over £BOO, are registered in New Zealand, says the report of the Registrar of Building Societies tabled in Parliament. The registrar (Mr V. Thompson) said that by the end of the year all societies would be required by the Building Societies Act, 1965, to bring rules into conformity with statutory requirements. Some draft rules and alterations had been submitted for examination. “A weakness in some has been a lack of preciseness in setting out exactly what liabilities a person would assume upon becoming a member, and also what benefits he would receive,” Mr Thompson said.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/CHP19660719.2.87

Bibliographic details

Press, Volume CVI, Issue 31115, 19 July 1966, Page 10

Word Count
121

75 BUILDING SOCIETIES Press, Volume CVI, Issue 31115, 19 July 1966, Page 10

75 BUILDING SOCIETIES Press, Volume CVI, Issue 31115, 19 July 1966, Page 10