PGG Trust Limited Act 1989

2 Interpretation

• In this Act, unless the context otherwise requires,—

  appointed day means 1 May 1989

  existing trust company means Pyne, Gould, Guinness, Limited

  fiduciary rights and obligations includes all rights, capacities, authorities, discretions, duties, liabilities, and obligations as executor, administrator, trustee, receiver, committee, guardian, attorney, or agent, or as a fiduciary in any capacity

  instrument includes—

  • (a) any instrument (other than this Act) of any form or kind that creates, evidences, modifies, or extinguishes rights, interests, or liabilities or would do so if it or a copy thereof were lodged, filed, or registered under any enactment; and

  • (b) any judgment, order, or process of a court

  liabilities means liabilities, debts, charges, duties, and obligations of every description (whether present or future, actual or contingent, and whether payable or to be observed or performed in New Zealand or elsewhere)

  New Company means PGG Trust Limited

  Parent Company means Pyne Gould Corporation Limited

  property means property of every kind whether tangible or intangible, real or personal, corporeal or incorporeal, and, without limiting the generality of the foregoing, includes—

  • (a) choses in action:

  • (b) goodwill:

  • (c) rights, interests and claims of every kind in or to property, whether arising from, accruing under, created or evidenced by, or the subject of, an instrument or otherwise and whether liquidated or unliquidated, actual, contingent, or prospective

  rights means all rights, powers, privileges, and immunities, whether actual, contingent, or prospective

  subsidiary and related company have the same meanings respectively as in the Companies Act 1955

  transferred employee means an employee of the trust department business of the existing trust company or any employee of the Parent Company who becomes an employee of the New Company in pursuance of this Act

  trust department business, in relation to Pyne, Gould, Guinness, Limited, means the trustee company, trust, and agency businesses of the existing trust company conducted and administered by the trust department thereof

  trust department undertaking, in relation to Pyne, Gould, Guinness, Limited, means—

  • (a) the trust department of the existing trust company; and

  • (b) all the property relating to the trust department business of the existing trust company as disclosed by the accounting records and balance sheet of the said trust department as at the appointed day; and

  • (c) all rights and liabilities relating to the trust department business of the existing trust company including those disclosed by the accounting records and balance sheet of the said trust department as at the appointed day; and

  • (d) all the fiduciary rights and obligations of the existing trust company relating to and in respect of its trust department business; and

  • (e) all trust property held by the existing trust company relating to and in respect of its trust department business

  trust property means all property held as executor, trustee, administrator, receiver, committee, guardian, attorney, or agent, or as a fiduciary in any capacity

  undertaking, in relation to PGG Trust Limited, means—

  • (a) the business of PGG Trust Limited; and

  • (b) all property of PGG Trust Limited; and

  • (c) all rights and liabilities of PGG Trust Limited; and

  • (d) all the fiduciary rights and obligations of PGG Trust Limited; and

  • (e) all the trust property of PGG Trust Limited

  will includes any codicil to a will.