Editing Building society (section)

====Regulation====
In [[New Zealand]], building societies are registered with the Registrar of Building Societies under the Building Societies Act 1965.<ref>{{Cite web
| url = http://www.legislation.govt.nz/act/public/1965/0022/latest/DLM367768.html?src=qs
| title = Building Societies Act 1965 No 22 (as at 01 December 2014), Public Act Contents – New Zealand Legislation
| website = www.legislation.govt.nz
| access-date = 2016-03-01
}}</ref> Registration as a building society is merely a process of establishing the entity as a corporation. It is largely a formality, and easily achieved, as the capital requirement is minimal (20 members must be issued shares of not less than NZ$1,000 each, with a total minimum foundation share capital of NZ$200,000).<ref>{{cite web|url=http://www.business.govt.nz/companies/learn-about/other-entities/building-societies/incorporation-information|title=Incorporation information &#124; Companies Office the Official Site|access-date=7 October 2014|archive-url=https://web.archive.org/web/20141013002819/http://www.business.govt.nz/companies/learn-about/other-entities/building-societies/incorporation-information|archive-date=13 October 2014|url-status=dead|df=dmy-all}}</ref>

As regards prudential supervision, a divide exists between building societies that operate in New Zealand, on the one hand, and those that (although formally registered in New Zealand) operate offshore:
* Building societies that accept deposits from members of the public in New Zealand are regulated as "non-bank deposit takers" under the Non-bank Deposit Takers Act 2013.<ref>{{Cite web
| url = http://www.legislation.govt.nz/act/public/2013/0104/latest/DLM3918915.html?search=sw_096be8ed80e4c228_overseas_25_se&p=1#DLM3918919
| title = Non-bank Deposit Takers Act 2013 No 104 (as at 01 December 2014), Public Act Contents – New Zealand Legislation
| website = www.legislation.govt.nz
| access-date = 2016-03-01
}}</ref> Such building societies must (unless they qualify for a particular exemption) comply with the prudential regulations. The [[Reserve Bank of New Zealand]] monitors compliance with the prudential regulations, but does not prudentially supervise individual building societies for financial soundness. Most such building societies are supervised for compliance with the terms of their debt securities by trustees appointed under securities legislation, and those trustees have various reporting requirements to the Reserve Bank.
* Building societies that accept deposits only from offshore customers are not regulated under the Non-bank Deposit Takers Act 2013 or New Zealand's financial markets legislation. Consequently, they are not prudentially monitored by the Reserve Bank or by the [[Financial Markets Authority (New Zealand)|Financial Markets Authority]]. The Reserve Bank cautions on its website that it does not monitor transactions undertaken by New Zealand registered building societies operating in overseas markets.<ref>{{cite web|url=http://www.rbnz.govt.nz/regulation_and_supervision/cautions_and_notices/3765520.html|title=Clarification on Building Societies|access-date=2 August 2013|archive-url=https://web.archive.org/web/20130817130406/http://rbnz.govt.nz/regulation_and_supervision/cautions_and_notices/3765520.html|archive-date=17 August 2013|url-status=dead|df=dmy-all}}</ref>  The Department of Internal Affairs is ultimately responsible for all entities that do not expressly fall into other categories for [[Money laundering#Enforcement costs and associated privacy concerns|anti money laundering]] purposes.

Building societies' registration details and filed documents are available in the Register of Building Societies held at the New Zealand Companies Office.