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Trusts Act 2019

Trustees’ duties and information obligations - Duties of trustee - Mandatory duties

22: Mandatory duties

You could also call this:

"Important rules trustees must always follow"

Illustration for Trusts Act 2019

You have to follow some important rules when you are a trustee. The rules are in sections 23 to 27. You must do what these sections say.

You cannot change or ignore these rules, even if the trust says you can. These rules are very important and you have to follow them. They are called mandatory duties.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7382899.

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"Trustees must consider the trust's goals when doing their jobs."

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23: Duty to know terms of trust, or

"Trustees must know and understand the trust rules and their job."

Part 3Trustees’ duties and information obligations
Duties of trustee: Mandatory duties

22Mandatory duties

  1. The duties set out in sections 23 to 27 are mandatory duties that—

  2. must be performed by the trustee; and
    1. may not be modified or excluded by the terms of the trust.