Statute
Section 17 — Trusts Act 2019: Application of maximum duration rule to resettlements
Text of the provision Official document
17 Application of maximum duration rule to resettlements (1) This section applies to property that is held on a trust ( Trust A ) to which section 16(1) applies and is transferred as a part of a resettlement to be held on 1 or more other trusts without first being finally distributed. (2) The maximum amount of time that may elapse between the property being settled on Trust A and being finally distributed is 125 years.
Official source: legislation.govt.nz
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