Statute
Section 78 — Trusts Act 2019: Trustee’s power to adjust interests in trust property of portfolio investment entity
Text of the provision Official document
78 Trustee’s power to adjust interests in trust property of portfolio investment entity (1) This section applies where any trust property is employed in an activity that the trustee is empowered or authorised to carry on as a portfolio investment entity. (2) The trustee may adjust the interest of the beneficiaries in the property in any of the ways specified in section HM 48 of the Income Tax Act 2007 in order to comply with that section. (3) This section applies despite any other provision in this Act or in the Financial Markets Conduct Act 2013 . Compare: 1956 No 61 s 42E
Official source: legislation.govt.nz
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