The Parliament of New Zealand enacts as follows:
This Act is the Building Societies Amendment Act 2016.
This Act comes into force on 1 March 2017.
This Act amends the Building Societies Act 1965 (the principal Act).
After section 136, insert:
The District Court has jurisdiction in relation to—
the settlement of disputes between any building society and its members where the amount involved does not exceed $350,000:
the recovery of money and enforcement of claims by or against any building society not exceeding in amount or value the sum of $350,000:
all other matters arising under this Act not exceeding in amount or value the sum of $350,000.
Compare: 1947 No 16 s 33
14 September 2016
Divided from Judicature Modernisation Bill (Bill 178–2) as Bill 178–3H
11 October 2016
17 October 2016
This Act is administered by the Ministry of Business, Innovation, and Employment.