Incorporated society

In New Zealand an incorporated society is a group of at least 15 people who have applied for registration under the Incorporated Societies Act 1908.[1][2]

Once registered the Society constitutes a distinct legal entity which provides protection to members from debts, contracts etc. In return, members do not have a personal financial interest in the property or assets (if any) owned by the society.

To maintain registration, annual returns must be made to the Registrar of Incorporated Societies . At any stage the Society may be wound up by members' resolution, creditors or the Registrar (if compliance is not maintained).

References

  1. ↑ New Zealand Companies Office. "An overview". Societies and Trusts online. Retrieved 13 July 2015.
  2. ↑ New Zealand Companies Office. "Rules of incorporated societies". Societies and Trusts online. Retrieved 13 July 2015.
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