The law says you cannot transfer certain regulatory powers to a Trust. This rule is part of the Local Government Act 1974, which is a law that affects local councils. You can find more information about changes to this law in the Local Government Amendment Act 1998. This particular rule was repealed, which means it is no longer in effect, as of 1 October 1998. The repeal was made by section 14(1)(e) of the Local Government Amendment Act 1998. This change was part of a bigger update to the local government laws.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM424525.
707T: Provisions relating to transfer of specified assets and specified liabilities to Trust, or
"Transferring assets and debts to a Trust: what the law says"
707UA: Divestment of assets in transport-related enterprises to be subject to Part 34B, or
"Selling transport business assets has its own rules in the Local Government Act."
