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Sale and Supply of Alcohol Act 2012

Licensing trusts, community trusts, and other matters - Community trusts - Trust deed

366: Contents of trust deed

You could also call this:

"What a community trust's rules must include"

When you set up a community trust, the trust deed must include some important details. You must specify the trust's name, its functions, and the activities it will undertake. The trust deed must also cover things like how many trustees there will be, how they will meet, and how they will make decisions.

You need to decide how the trustees will be paid and how they can resign or be replaced. The trust deed should also say how the trust's money will be invested and spent. It must explain how the trust's accounts will be kept and how the trust deed can be changed, as long as this is done in line with section 367.

The trust deed can include other details that the trust considers important, to make sure everything runs smoothly.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3339917.

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"How community trusts can use their money to help their community"

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367: Variation of trust deed, or

"Changing the rules of a community trust"

Part 3Licensing trusts, community trusts, and other matters
Community trusts: Trust deed

366Contents of trust deed

  1. The trust deed of a community trust must specify—

  2. the trust's name:
    1. the trust's functions:
      1. the general activities to be undertaken by the trust:
        1. the minimum and maximum number of trustees:
          1. the procedure for meetings of trustees, including the frequency of meetings, how they are called, voting, and the number of trustees necessary for a quorum:
            1. the trustees' remuneration:
              1. how a trustee may resign office as trustee:
                1. how a vacancy in the office of trustee must be filled:
                  1. matters relating to the appointment of officers, employees, managers, and agents:
                    1. the trustees' powers of investment:
                      1. the trustees' powers to spend or use the trust's capital and income:
                        1. how accounts must be kept:
                          1. how the trust deed may be varied (consistently with section 367):
                            1. any other matter that the licensing trust or community trust concerned considers appropriate.

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