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StatuteTrusts Act 2019

Section 99 — Trusts Act 2019: How trustee accepts or rejects appointment

Text of the provision Official document

99 How trustee accepts or rejects appointment (1) An appointment of a trustee does not take effect until the appointee accepts the appointment. (2) The acceptance of an appointment may be given expressly or may be implied through conduct unless there is a contrary intention in the terms of the trust. (3) The rejection of an appointment— (a) may be given expressly; or (b) will be implied if the appointee— (i) gives no express indication of acceptance or rejection of the appointment; and (ii) is inactive in relation to the trust for 90 days after the appointment.

Official source: legislation.govt.nz

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