The bill amends the Friendly Societies and Credit Unions Act 1982, and is intended to remove unnecessary operating and compliance costs, promote greater efficiency, innovation, and accountability, bring credit unions into alignment with other financial service providers in New Zealand, and maintain the element of mutuality and the requirement of a common bond between members.
Royal Assent given 04 July 2018.
Enacted as the Friendly Societies and Credit Unions (Regulatory Improvements) Amendment Act 2018 (2018/17)
|Bill type||Member's bill|
|Introduced||13 April 2017|
|First reading||7 June 2017|
|Select Committee||Finance and Expenditure Committee|
|Public submissions due||20 July 2017|
|Select Committee report back||4 May 2018|
|Second reading||16 May 2018|
|Committee of the whole House||13 June 2018|
|Third reading||27 June 2018|
|Royal Assent||4 July 2018|
|Enacted as||Friendly Societies and Credit Unions (Regulatory Improvements) Amendment Act 2018 (2018/17)|
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