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New Zealand Legislation: Acts

Acts are laws made by Parliament

Reprint as at 10 September 2008

Community Trusts Act 1999

Public Act	1999 No 54
Date of assent	20 May 1999
Commencement	see section 1(2)

Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this reprint.

A general outline of these changes is set out in the notes at the end of this reprint, together with other explanatory material about this reprint.

This Act is administered by the Department of Internal Affairs.

Contents

1 Short Title and commencement

2 Purpose of this Act

3 Act to bind the Crown

4 Interpretation

Trustees of community trusts

5 Appointment of trustees

6 Resignation and removal of trustees

7 Disqualification of trustees

8 Liability insurance for trustees

9 Indemnities of trustees void

10 Trustees not to be employed by successor companies

Regional identity and purposes of community trusts

11 Regional identity of community trusts

12 Purposes of community trusts

Operational requirements relating to community trusts

13 Community trusts must comply with Financial Reporting Act 1993

14 Trustees must hold public meeting

Contents of trust deeds

15 Provisions required in trust deed

16 Trust deed and amendments not to be inconsistent with this Act

Restructuring of community trusts

17 Merger of community trusts

18 Formation of separate community trusts in place of existing community trust

19 Sale of shares in trustee bank's successor company

20 Section 64 of Reserve Bank of New Zealand Act 1989 not to apply to community trusts

21 Application of Trustee Act 1956 not affected

An Act to make continued provision for the operation of the community trusts established under the Trustee Banks Restructuring Act 1988