Rural Intermediate Credit Act 1927

Reprint as at 5 December 2013

Coat of Arms of New Zealand

Rural Intermediate Credit Act 1927

Public Act
1927 No 45
Date of assent
23 November 1927
1 January 1928

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This Act is administered in the Treasury.


1Short title and commencement
2Interpretation [Repealed]
3Rural Intermediate Credit Board established [Repealed]
4Public Trustee to be the principal executive member of the Board [Repealed]
5Provision for appointment of Deputy Commissioner [Repealed]
6Commissioner may act through officers of the Board [Repealed]
7Contracts of Board [Repealed]
8First meeting of Board [Repealed]
9Appointment of Chairman [Repealed]
10Deputies of members [Repealed]
11Minutes of proceedings to be kept [Repealed]
12Rules of procedure [Repealed]
13Officers of Board [Repealed]
14District Boards [Repealed]
15Functions of the Board [Repealed]
16Minister of Finance may make advances to Board not exceeding aggregate of £400,000 [Repealed]
17Application of moneys advanced to Board under last preceding section [Repealed]
18Minister of Finance may make advances to Board to provide for preliminary expenses of associations established under this Act [Repealed]
19Grant to Board from Consolidated Fund towards expenses of administration [Repealed]
20Board may issue debentures to provide capital for carrying on its business [Repealed]
21Terms of debentures and conditions attaching thereto [Repealed]
22Authority for Board to borrow moneys pending issue or sale of debentures [Repealed]
23Execution of debentures [Repealed]
24Issue of debentures in London [Repealed]
25Inscribed stock [Repealed]
26Exemption from stamp duty [Repealed]
27Public Trustee to be custodian of securities [Repealed]
28Board may be required to accept debentures in repayment of any loan made by it [Repealed]
29Redemption of debentures [Repealed]
30Trust funds and public moneys may be invested in debentures issued by Board [Repealed]
31Income derived by person not resident in New Zealand from debentures issued under this Act to be exempt from taxation [Repealed]
32As to appointment of receiver [Repealed]
33Accidental defacement of debentures [Repealed]
34Authority for issue of new debentures to replace lost or destroyed debentures [Repealed]
35Establishment of Rural Intermediate Credit Account [Repealed]
36Application of moneys in Rural Intermediate Credit Account [Repealed]
37Audit of Board’s accounts [Repealed]
38Accounts to be kept and reports to be furnished by Board [Repealed]
39Application of profits [Repealed]
40Incorporation of co-operative rural intermediate credit associations
41First directors of association
42Registration of association
43Appointment of directors of associations
44Chairman and deputy chairman of directors
45Appointment of secretary and treasurer
46Expenses of directors
47Uniform regulations for incorporated associations
48Objects of associations incorporated under this Act
49Term of loans [Repealed]
50Amount of loans which may be granted
51Applications for loans by persons other than shareholders
52Procedure on application for loans under this Part
52ATerms and conditions of loans
53Repayment of loans
54Application of paid up capital of association
55Application of profits
56On repayment of loan, shareholder may surrender his shares in association
57Transfer of shares
58Association not to issue share certificate in respect of shares
59Exemption from company fees
60Farmers may apply to District Boards for loans under this Part [Repealed]
61Form of applications for loans [Repealed]
62Funds of Board [Repealed]
63Maximum amount of loan that may be granted under this Part [Repealed]
64Security for loans under this Part [Repealed]
65Term of loans under this Part [Repealed]
66Moneys repaid to Board to be available for further loans [Repealed]
67Accounts to be kept by Boards [Repealed]
68Application of this Part [Repealed]
69Board to compile a register of co-operative societies to which this Part is applicable [Repealed]
70Board may advance money to co-operative societies on security of produce or livestock [Repealed]
71Societies to furnish periodical reports to Board [Repealed]
72Exemptions from stamp duties [Repealed]
73When securities over chattels may take priority over existing securities
74Books of associations and co-operative societies to be open for inspection by officers of Board
75Annual report by District Intermediate Credit Supervisor [Repealed]
76Annual report as to operations of Board [Repealed]
77Regulations [Repealed]
Reprint notes

An Act to provide facilities for affording financial assistance by the making of loans for terms not exceeding 5 years to farmers and other persons engaged in primary production