New Zealand Legislation: Regulations
Regulations are laws made under Acts
Where a body corporate is appointed trustee of a reservation, that trustee shall, subject to any order of the Court,—
(a) Ensure that the trustee's decisions are made lawfully in accordance with the constitution of the body corporate by the board of directors or other committee of management of the body corporate:
(b) Keep such separate accurate records, books of account and minute books, in relation to the administration of the reservation, as are required to distinguish clearly the trustee's role as trustee from any other activities of the trustee.