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StatuteTrusts Act 2019

Section 84 — Trusts Act 2019: Power of court to waive requirement of consent to indemnification

Text of the provision Official document

84 Power of court to waive requirement of consent to indemnification (1) The court may waive the requirement that a beneficiary consent to the indemnification of a trustee for a breach of trust under section 82 . (2) An application for an order of waiver of consent may be made by— (a) the trustees or any one of them: (b) any person with a beneficial interest in the trust property. (3) On an application for an order of waiver of consent, the court must take into account each of the following factors: (a) the nature of any person’s interest in the trust property and the effect of the proposed order on that interest: (b) the benefit or detriment that may result to any person with an interest in the trust property if the court makes or refuses to make the proposed order: (c) the intentions of the settlor of the trust in settling the trust, if it is practicable to ascertain those intentions. (4) An order of waiver of consent binds the person on whose behalf it is made and takes effect without any further step.

Official source: legislation.govt.nz

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Statutory text from an official public source. Informational content — does not replace advice from a qualified lawyer.