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Trusts Act 2019

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

31: Duty not to exercise power for own benefit

You could also call this:

"Trustees must make fair decisions, not ones that help themselves."

Illustration for Trusts Act 2019

If you are a trustee, you must not use your power to help yourself. You cannot do something that benefits you directly or indirectly. This means you have to make decisions that are fair and not just about what is good for you.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7382910.

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Money and consumer rights > Banking and loans
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30: Duty to invest prudently, or

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32: Duty to consider exercise of power, or

"Think carefully about using your powers as a trustee"

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

31Duty not to exercise power for own benefit

  1. A trustee must not exercise a power of a trustee directly or indirectly for the trustee’s own benefit.