Section 70 — Trusts Act 2019: Trustee’s power to delegate powers and functions in specified circumstances

70 Trustee’s power to delegate powers and functions in specified circumstances (1) Despite sections 67 and 68 , a trustee may, by power of attorney, delegate all or any of the trustee’s powers and functions under the trust to any person qualified to be a trustee under section 96 . (2) However, the power to delegate may be exercised only in the circumstances where the delegation is necessary (or the trustee expects that it may from time to time become necessary) because of the trustee’s— (a) absence from New Zealand; or (b) temporary inability to be contacted; or (c) temporary physical incapability; or (d) temporary lack of capacity to perform the functions of a trustee. (3) The delegation— (a) commences when the circumstance in subsection (2) occurs or begins; and (b) continues for the shorter of— (i) the duration of the circumstance in subsection (2); and (ii) 12 months. (4) If a delegation has been in place for 12 months and the circumstance in subsection (2) continues, the delegation may be extended by the delegating trustee (or the trustee’s delegate in cases to which subsection (2)(d) applies) for the shorter of— (a) the remaining duration of the circumstance in subsection (2); and (b) a further 12 months. (5) A trustee may delegate powers to a sole co-trustee only if that sole co-trustee is a statutory trustee. (6) A delegate may exercise the delegating trustee’s power to resign. Compare: Trustee Act 1925 s 25 (UK)