Building Societies Amendment Act 2007

1: Title
This Act is the Building Societies Amendment Act 2007.
2: Commencement
This Act comes into force on the day after the date on which it receives the Royal assent. RA 2007-09-20 Building Societies Act 1965
3: Principal Act amended
This Act amends the Building Societies Act 1965
4: New section 4 substituted
Section 4
4: Deputy Registrars of Building Societies
1: There may also be 1 or more Deputy Registrars of Building Societies appointed under the State Sector Act 1988
2: A Deputy Registrar has and may exercise the powers, duties, and functions of the Registrar under this Act (subject to the control of the Registrar).
3: The fact that a Deputy Registrar exercises those powers, duties, or functions is conclusive evidence of the authority to do so.
5: Section 5 repealed
Section 5
6: New Part 8A inserted
The following Part is inserted after Part 8
8A: Register of building societies
121A: Register of building societies
1: The Registrar must ensure that a register of building societies is kept in New Zealand.
2: The register may be—
a: an electronic register; or
b: kept in any other manner that the Registrar thinks fit.
3: The Registrar must take all reasonable steps to ensure that the information contained in the register is available to members of the public at all reasonable times.
121B: Registration of documents
1: On receipt of a document for registration under this Act, the Registrar must (unless section 121C
a: register the document in the register; and
b: give written advice of the registration to the person from whom the document was received (except in the case of an annual turn or the financial statements and reports referred to in section 97A(1)
2: Neither registration nor refusal of registration of a document by the Registrar affects, or creates a presumption as to, the validity or invalidity of the document or the correctness or otherwise of the information contained in it.
3: In this section, a registration condition
121C: Registrar may require document to be registrable or otherwise comply before registration
1: The Registrar may refuse to register a document received by the Registrar for registration under this Act if that document—
a: is not in the prescribed form, if any; or
b: does not comply with this Act or regulations made under this Act; or
c: is not printed or typewritten; or
d: if the register is an electronic register, is not in a form that enables particulars to be entered directly by electronic or other means in the register; or
e: has not been properly completed; or
f: contains material that is not clearly legible.
2: If the Registrar refuses to register a document in reliance on this section, the Registrar must request either—
a: that the document be appropriately amended or completed and submitted for registration again; or
b: that a fresh document be submitted in its place.
121D: When documents are registered
A document is registered
a: the document itself is constituted as part of the register; or
b: particulars of the document are entered in an electronic register.
121E: Alterations to register
The Registrar may make an amendment to the register if satisfied that it is necessary—
a: to reflect any changes in the information that is contained in the register; or
b: to correct an obvious error in or omission from the register.
121F: Inspection of register
A person may, on payment of the prescribed fee (if any), inspect—
a: any registered document; or
b: particulars of a registered document entered into an electronic register.
121G: Obtaining certified copy or extract from register
1: A person may, on payment of the prescribed fee (if any), require the Registrar to give or certify—
a: a certificate of incorporation of a building society; or
b: a copy of or extract from a registered document; or
c: any particulars of a registered document entered into an electronic register.
2: A process to compel the production of—
a: a registered document; or
b: evidence of the entry of particulars of a registered document in an electronic register— must not issue from the Court without the leave of the Court and, if it does, it must have a statement attached to it that it is issued with the leave of the Court.
121H: Certified copy or extract is evidence
1: A copy of or extract from a registered document that purports to be certified by the Registrar as a true copy or extract is admissible in evidence in legal proceedings to the same extent as the original document.
2: A certificate purporting to be signed by the Registrar as to the particulars of a registered document in an electronic register or any other matters in the register is conclusive evidence, in the absence of proof to the contrary, of the entry of those particulars or those other matters.
7: Related amendments to principal Act
The principal Act is further amended in the manner set out in the Schedule
8: Amendment to
Privacy Act 1993
1: This section amends the Privacy Act 1993
2: Part 1 of Schedule 2 Building Societies Act 1965 Section 121A RA 2007-09-20 Privacy Act 1993
9: Transitional provision for register
All documents registered under the principal Act and sent to the appropriate District Registrar of Companies before the amendments in this Act come into force form part of the register under section 121A of the principal Act as inserted by this Act.