Statute
Section 15 — Trusts Act 2019: Creation of express trust
Text of the provision Official document
15 Creation of express trust (1) An express trust may be created— (a) by or under an enactment; or (b) by a person (the settlor ) who, clearly and with reasonable certainty (and subject to any formalities prescribed by any enactment),— (i) indicates an intention to create a trust; and (ii) identifies the beneficiaries (or classes of beneficiaries) or the permitted purpose of the trust; and (iii) identifies the trust property. (2) A trust created under subsection (1) commences when a trustee holds property of the trust.
Official source: legislation.govt.nz
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