When you have a debt security, there must be a trust deed. This trust deed must be in a document that is legally enforceable. You need to make sure the document is enforceable between the supervisor, the issuer of the debt security, and the people who hold the product.
The document must be able to be enforced as a legal contract between these parties. This means the supervisor, the issuer, and the product holders must all be bound by the terms of the trust deed. The trust deed is an important part of the debt security.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091084.
A trust deed for a debt security must be contained in 1 or more documents that are legally enforceable as between the supervisor, the issuer of the debt security, and the product holders.
