Trustee Amendment Act 2005

Trustee Amendment Act 2005

Public Act2005 No 23
Date of assent24 March 2005

The Parliament of New Zealand enacts as follows:

1 Title
  • (1) This Act is the Trustee Amendment Act 2005.

    (2) In this Act, the Trustee Act 1956 is called the principal Act.

2 Commencement
  • This Act comes into force on 26 April 2005.

3 Application
  • (1) The amendments made to section 40(2) of the principal Act by section 4 apply in respect of any accumulated residue referred to in section 40 of the principal Act, even if the accumulation was made before the commencement of this Act.

    (2) The amendments made to section 42(1)(b) of the principal Act by section 5 apply in respect of any trust coming into operation under section 42 of the principal Act, even if the trust came into operation before the commencement of this Act.

4 Power to apply income for maintenance, etc, and to accumulate surplus income during a minority
  • (1) The principal Act is amended by inserting in section 40(2)(a)(i), after the word marries, the words or enters into a civil union.

    (2) The principal Act is amended by omitting from section 40(2)(a)(i) the words his marriage and substituting the words he or she marries or enters into a civil union.

    (3) The principal Act is amended by omitting from section 40(2)(a) the word marriage in the second and third places where it appears and substituting in each case the words marrying or entering into a civil union.

5 Protective trusts
  • (1) The principal Act is amended by omitting from section 42(1)(b)(i) the words or husband, and substituting the words , husband, civil union partner, or de facto partner.

    (2) The principal Act is amended by inserting in section 42(1)(b)(ii), after the word husband, the words or civil union partner or de facto partner.


Legislative history

10 March 2005Divided from Relationships (Statutory References) Bill (Bill 151-2) as Bill 151-3T
15 March 2005Third reading