New Zealand Legislation: Regulations

20 Trustee who ceases to hold office

• A person who ceases to hold office as trustee—

  • (a) Shall deliver to the remaining trustee, or to the Court, all records and papers in the possession of, or under the control of, the trustee in relation to the reservation:

  • (b) Subject to compliance with paragraph (a) of this regulation and subject to paragraph (c) of this regulation, shall be released from any future liability as trustee in relation to the reservation:

  • (c) Shall not be released, by virtue of ceasing to hold office, from any liability as trustee arising out of or in relation to actions or omissions of the trustee that occurred while that person was holding the office of trustee.