Building Societies Act
ZambiaAct of Parliament
The Building Societies Act is an Act of the Parliament of Zambia. It contains 148 sections. Read its sections below, or ask Levy any question about the Building Societies Act and get an answer grounded in the Act with citations.
Sections of the Building Societies Act
- S. 1S hort title
- S. 2I nterpretati on
- S. 3E stablishment of building society
- S. 4M inister may suspend or refuse registrati on
- S. 5C onditions relating to deposit with Bank of Zambia
- S. 6R egistrati on of existing societies
- S. 7E ffect of registrati on
- S. 8P rohibiti on of unregistered and terminating societies
- S. 9M aintenance of register
- S. 10N ame of building society
- S. 11C ontents of rules
- S. 12E ffect of rules
- S. 13M embers who are not shareholders
- S. 14M embers under the age of twenty-one
- S. 15J oint shareholders
- S. 16L iability of members
- S. 17B usiness not to be commenced before registrati on
- S. 18B uilding society not to make advances outside Zambia
- S. 19M inimum subscripti on by founding members
- S. 20B ooks and records to be kept by building society
- S. 21B uilding society to supply copies of rules
- S. 22N umber of directors
- S. 23R emunerati on of directors
- S. 24E lecti on of directors
- S. 25V alidity of acts of direct or
- S. 26P ersons disqualified from being a direct or
- S. 27D isclosure of interest by directors
- S. 28N otificati on of changes in holders of certa in offices
- S. 29O fficers not to accept commissions in connecti on with loans
- S. 30O fficers to give security and to account
- S. 31O fficers not to be exempted from liability
- S. 32K eeping of books of account
- S. 33A nnual accounts and balance sheet
- S. 34C ontents and form of accounts
- S. 35S upplementary provisions as to offences under sections 32, 33 and 34
- S. 36S igning of balance sheet
- S. 37A ccount and auditors' report to be annexed to balance sheet
- S. 38D irectors' report
- S. 39R ight to receive copies of balance sheet and auditors' and directors' reports
- S. 40A ppointment of auditors
- S. 41D isqualifications f or appointment as audit or
- S. 42A udit or's report and right of access to books and documents and to attend and
- S. 43A nnual general meeting
- S. 44O ther meetings
- S. 45L ength and manner of notice
- S. 46P ersons entitled to notice
- S. 47P roxies
- S. 48R ight to dem and a poll
- S. 49S pecial resolutions
- S. 50N otice of members' special resolutions
- S. 51A nnual return
- S. 52A dditional annual return of certa in transactions
- S. 53A uditors' report on annual return
- S. 54(1) The provisions of sections fifty-five to fifty-nine sh all have effect with respect General provisions as
- S. 55(1) The provisions of th is secti on sh all apply where the rules of a building Determinati on of
- S. 56Where the parties to a dispute agree to refer it to the Registrar, or where the Determinati on of
- S. 57A subordinate court presided over by a seni or resident magistrate may hear Determinati on of
- S. 58Subject to the provisions of secti on fifty-nine, every determinati on of a dispute Effect of determinati on
- S. 59The arbitrators, or the Registrar, or the subordinate court, as the case may be, Statement of case f or
- S. 60B uilding society may make advances
- S. 61O rdinary advance
- S. 62S pecial advance
- S. 63C ollective advance
- S. 64R epayment of advances
- S. 65A mount of advances
- S. 66A dvances to full value in certa in cases
- S. 67S pecial advance to purchaser of mortgaged property
- S. 68F urther advances f or certa in purposes
- S. 69R estrictions on second and contributory mortgages
- S. 70A dvance f or single premium life policy
- S. 71V aluati on f or purposes of advance
- S. 72R ecord of advances
- S. 73S ecurity taken from third party
- S. 74O ffer of advance not to imply warranty
- S. 75P rohibiti on against balloting f or advances
- S. 76P rovisions as to sale of mortgaged properties
- S. 77D isposal of surplus when mortgag or can not be found
- S. 78D ischarge of mortgages
- S. 79P ower to borrow
- S. 80L imit of repayments to investors and lenders
- S. 81L imit of depos its
- S. 82L iability f or borrowing in excess of powers
- S. 83M inimum notice of withdrawal
- S. 84A ssistance by one building society to an other
- S. 85D eposit or under the age of twenty-one
- S. 86M embers or depositors dying intestate
- S. 87T rustee status f or certa in investments in building societies
- S. 88P rovisions of Act to be inserted in certa in documents
- S. 89A uthorised investments
- S. 90A uthorised banks
- S. 91O ffences under Part VII
- S. 92G eneral reserve fund
- S. 93P rovisions as to liquidity
- S. 94R estricti on of payment of dividends
- S. 95C hange of name
- S. 96N otificati on of change of address
- S. 97A lterati on of rules
- S. 98Uni on of building societies
- S. 99Transfer of engagements
- S. 100Registrar may approve uni on or transfer
- S. 101Registrati on of transfers, etc., to operate as a conveyance
- S. 102Creditors not to be prejudiced by uni on or transfer
- S. 103Nominati on of Registrar
- S. 104Indemnity of Registrar and other persons
- S. 105Power to require producti on of books, etc.
- S. 106Powers of inspecti on
- S. 107Power to c all a meeting
- S. 108Power to suspend borrowing and subscripti on f or shares
- S. 109Power to control advertising
- S. 110Dissoluti on in accordance with rules
- S. 111Dissoluti on by consent
- S. 112Dissoluti on on award of Registrar
- S. 113Provisions applicable to dissoluti on under sections 110 and 111
- S. 114Winding-up by or under the supervisi on of the High Court
- S. 115Liability of members in winding-up or dissoluti on
- S. 116Notice of winding-up or dissoluti on
- S. 117Powers in relati on to l and
- S. 118Offences in relati on to property of building societies
- S. 119False statements in documents
- S. 120Compulsory cancellati on or suspensi on of registrati on
- S. 121Cancellati on of registrati on at request of building society
- S. 122Effect of cancellati on or suspensi on of registrati on
- S. 123Obsolete
- S. 124Annual report of Registrar
- S. 125Provisions as to evidence
- S. 126Form in which records may be kept
- S. 127Regulations
- S. 128Registrar to consider representations by building societies
- S. 129Rules of court
- S. 130Financial year of building societies
- S. 131Non-compliance not to invalidate advance
- S. 132Lost or destroyed sh are certificate, etc.
- S. 133Inspecti on of documents by public
- S. 134General penalty
- S. 135Repeals
- S. 136Transitional provisions
- S. ISection I
- S. IISection II
- S. IIISection III
- S. IVSection IV
- S. IXSection IX
- S. VSection V
- S. VISection VI
- S. VIISection VII
- S. VIIISection VIII
- S. XSection X
- S. XISection XI
- S. XIISection XII