Trusts Act 2019
Sections and provisions with full text and the judgments that cite each one.
Section 154 — Appointment of investigator by Public Trust
154 Appointment of investigator by Public Trust (1) When proceeding with an application under section 153 , Public Trust must ensure that a person (the investigator ) is appointed in accordance with…
Section 155 — How investigator is to conduct and report on investigation
155 How investigator is to conduct and report on investigation (1) The investigator appointed under section 154 may require from the trustees any documents, information, and explanations necessary to…
Section 156 — Costs of investigation borne by trustees
156 Costs of investigation borne by trustees (1) Unless the court makes an order under section 157 , the remuneration of the investigator and the other expenses of the investigation (including Public…
Section 157 — Application to court to determine who bears costs of investigation
157 Application to court to determine who bears costs of investigation Public Trust, a trustee, or a beneficiary may apply to the court for an order for directions on how the remuneration of the…
Section 158 — Application to court to cease investigation
158 Application to court to cease investigation At any time after an application for an investigation is made and before the end of an investigation, a trustee or a beneficiary may apply to the court…
Section 159 — Life tenant to have powers of trustee in certain cases
159 Life tenant to have powers of trustee in certain cases (1) This section applies in relation to land if— (a) there is no trustee of the land; but (b) the land is vested in a person (the life…
Section 160 — Regulations providing for transitional matters
160 Regulations providing for transitional matters (1) The Governor-General may, by Order in Council made on the recommendation of the Minister, make regulations— (a) providing transitional and…
Section 161 — Consequential amendments
161 Consequential amendments Amend the enactments specified in Schedule 4 and Schedule 5 as set out in those schedules.
Section 162 — Repeals
162 Repeals The following enactments are repealed: (a) the Trustee Act 1956 (1956 No 61): (b) the Perpetuities Act 1964 (1964 No 47): (c) the Trustee (Prescribed Rate of Interest) Order 2011 (SR…
Section 163 — Amendments to Arbitration Act 1996
163 Amendments to Arbitration Act 1996 This subpart amends the Arbitration Act 1996 .
Section 164 — New section 10A inserted (Arbitration of trust matters)
164 New section 10A inserted (Arbitration of trust matters) After section 10 , insert: 10A Arbitration of trust matters (1) If an arbitration relates to a trust matter, sections 142 to 148 of the…
Section 165 — Amendments to Financial Markets Conduct Act 2013
165 Amendments to Financial Markets Conduct Act 2013 This subpart amends the Financial Markets Conduct Act 2013 .
Section 166 — New section 110A and cross-heading inserted
166 New section 110A and cross-heading inserted After section 110 , insert: Application of Trusts Act 2019 110A Application of Trusts Act 2019 (1) This section applies to a trust constituted (or to…
Section 167 — Section 112 amended (General duties applying in exercise of supervisor’s functions)
167 Section 112 amended (General duties applying in exercise of supervisor’s functions) In section 112(1) (a) , after “honestly” , insert “and in good faith” .
Section 168 — Section 143 amended (General duties applying in exercise of manager’s functions)
168 Section 143 amended (General duties applying in exercise of manager’s functions) In section 143(1) (a) , after “honestly” , insert “and in good faith” .
Section 169 — Section 153 amended (General duties applying in exercise of supervisor’s functions)
169 Section 153 amended (General duties applying in exercise of supervisor’s functions) In section 153(1) (a) , after “honestly” , insert “and in good faith” .
Section 170 — New section 155A and cross-heading inserted
170 New section 155A and cross-heading inserted After section 155 , insert: Application of Trusts Act 2019 155A Application of Trusts Act 2019 (1) This section applies to a managed investment scheme…
Section 171 — Section 548 amended (Other regulations)
171 Section 548 amended (Other regulations) (1) After section 548(1) (h) , insert: Trusts Act 2019 disapplied (ha) providing that specified provisions of the Trusts Act 2019 do not apply to a trust,…
Section 172 — Section 550 amended (Procedural requirements for regulations relating to exemptions, exclusions, and definitions)
172 Section 550 amended (Procedural requirements for regulations relating to exemptions, exclusions, and definitions) (1) In section 550(1) (d) , replace “regulations” with “regulations; and” . (2)…
Section 173 — Section 556 amended (FMA may grant exemptions)
173 Section 556 amended (FMA may grant exemptions) After section 556(3) , insert: (3A) The FMA may, on the terms and conditions (if any) that it thinks fit, exempt any trust or class of trusts (or…
Section 174 — Section 557 amended (Restriction on FMA’s exemption power)
174 Section 557 amended (Restriction on FMA’s exemption power) In section 557 , insert as subsection (2): (2) In the case of section 556(3A), the FMA must also have regard to the purpose and…
Section 175 — Schedule 3 amended
175 Schedule 3 amended In Schedule 3, after clause 7 , insert: 8 Application of Trusts Act 2019 Section 14 of the Trusts Act 2019 (sole trustee cannot be sole beneficiary) does not apply to— (a) an…
Section 176 — Amendments to Financial Advisers Act 2008
176 Amendments to Financial Advisers Act 2008 (1) This subpart amends the Financial Advisers Act 2008 . (2) However, if the Financial Advisers Act 2008 is repealed before the commencement of this Act…
Section 177 — New section 77TA and cross-heading inserted
177 New section 77TA and cross-heading inserted After section 77T , insert: Application of Trusts Act 2019 77TA Application of Trusts Act 2019 (1) This section applies to a trust constituted (or to…
Section 178 — Section 154 amended (General regulations)
178 Section 154 amended (General regulations) (1) After section 154(1) (l) , insert: (la) providing that specified provisions of the Trusts Act 2019 do not apply to a trust, or class of trusts, that…
Section 179 — Amendment to Financial Markets Authority Act 2011
179 Amendment to Financial Markets Authority Act 2011 This subpart amends the Financial Markets Authority Act 2011 .
Section 180 — Schedule 1 amended
180 Schedule 1 amended In Schedule 1 , Part 2, insert in its appropriate alphabetical order: Trusts Act 2019
Section 181 — Amendments to Financial Services Legislation Amendment Act 2019
181 Amendments to Financial Services Legislation Amendment Act 2019 This subpart amends the Financial Services Legislation Amendment Act 2019 .
Section 182 — Section 29 amended (New subparts 5A and 5B of Part 6 inserted)
182 Section 29 amended (New subparts 5A and 5B of Part 6 inserted) In section 29 , after new section 431ZI, insert: Application of Trusts Act 2019 431ZJ Application of Trusts Act 2019 (1) This…
Section 183 — Amendment to Retirement Villages Act 2003
183 Amendment to Retirement Villages Act 2003 This subpart amends the Retirement Villages Act 2003 .
Section 184 — New section 105A inserted (Regulations exempting from provisions of Trusts Act 2019)
184 New section 105A inserted (Regulations exempting from provisions of Trusts Act 2019) After section 105 , insert: 105A Regulations exempting from provisions of Trusts Act 2019 (1) The…