The next step involves developing the regulations that will support the new Act. By October 2023 societies will be able to reregister.
Once the reregistration period begins, societies will have 2½ years to reregister, from October 2023 to April 2026. This means for a time there will be societies operating under the new Act and others operating under the Incorporated Societies Act 1908.
Developing the regulations
The regulations will be drafted by the Ministry of Business, Innovation and Employment (MBIE) and will flesh out the details of the legislation. For example, they will likely determine:
- the information societies must provide to us when applying for registration or reregistration
- which societies will need to have their financial statements audited
- the level of fines that can be imposed on societies that fail to meet their legislative obligations.
Before the regulations are finalised, there will be an opportunity for societies and the general public to comment on what's being proposed, as part of public consultation. At this stage, we anticipate publishing a first, high-level consultation document around August 2022 and, based on the feedback we receive, a draft set of regulations around April 2023.
The regulations must be finalised by October 2023, but they could be decided earlier than that. We'll be providing regular updates here on our website.
Reregistering under the new Act
The reregistration period will run for 2½ years — from October 2023 to April 2026. Any society that doesn't reregister during this time will cease to exist.
Closer to the time we will provide detailed information to societies on what's involved in reregistering.
Until they reregister, societies will operate under the existing legislation — the Incorporated Societies Act 1908. Once they reregister, they will operate under the new Act.
- Information on the MBIE website about the Incorporated Societies Act review
- Copies of the legislation - the new Act Incorporated Societies Act 2022 and the existing legislation Incorporated Societies Act 1908.
How you can stay up to date
We will update the information here on our website throughout the transition period. You can also choose to receive updates from us directly to your inbox. Alternatively, you can follow us on Facebook.Sign up to receive updates from us Follow us on Facebook
If you have any questions or comments about these law changes, you can email us at email@example.com.
Published 18 May 2022, updated 13 June 2022