Statute
Section 85 — Trusts Act 2019: Ranking of trust property
Text of the provision Official document
85 Ranking of trust property (1) For the purposes of section 81(1) (and despite section 81(2)), the terms of the trust may rank the order in which the trust property must be applied to reimburse the trustee or pay or discharge an expense or a liability. (2) However, the court may set aside the ranking of trust property on the application of— (a) the trustee; or (b) a creditor; or (c) a beneficiary.
Official source: legislation.govt.nz
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