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StatuteProtection of Personal and Property Rights Act 1988

Section Sch2-1 — Protection of Personal and Property Rights Act 1988

Text of the provision Official document

1 For the purposes of section 39 of this Act, Public Trust may advance money to the estate of the person subject to a property order in accordance with section 56 of the Public Trust Act 2001 ; or borrow money in such other manner as Public Trust thinks fit and give security over all or any part of the property of the person, whether by way of mortgage, pledge, or otherwise, for the repayment thereof, with or without interest, and on and subject to such other terms and conditions as Public Trust thinks fit: Provided that Public Trust shall not, without the consent of the Court, advance to the estate of the person, or borrow for any purpose connected with the management or administration of that estate, any sum or sums that would, when added to the balance for the time being remaining owing of any money that Public Trust has previously advanced to or borrowed in connection with that estate, amount in all to more than the specified sum.

Official source: legislation.govt.nz

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Statutory text from an official public source. Informational content — does not replace advice from a qualified lawyer.