Section 178 — Trusts Act 2019: Section 154 amended (General regulations)

178 Section 154 amended (General regulations) (1) After section 154(1)(l) , insert: (la) providing that specified provisions of the Trusts Act 2019 do not apply to a trust, or class of trusts, that are or will be regulated by or under this Act: (2) After section 154(5) , insert: (5A) The Minister must not recommend the making of regulations under subsection (1)(la) unless the Minister has had regard to the purpose of the Trusts Act 2019 and is satisfied that— (a) the regulations are consistent with the purposes of this Act; and (b) the extent to which the Trusts Act 2019 is disapplied is not broader than is reasonably necessary to address the matters that gave rise to the regulations.