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Trusts Act 2019

Amendments to other Acts - Amendments to Financial Markets Conduct Act 2013

171: Section 548 amended (Other regulations)

You could also call this:

"Changes to rules that don't apply to some trusts"

Illustration for Trusts Act 2019

When you look at section 548 of this Act, you will see some changes. After the part that says section 548(1)(h), a new part is added that says some rules from the Trusts Act 2019 do not apply to certain trusts. These trusts are either regulated by this Act, or they would be regulated except that something in Schedule 1 says they are excluded.

You will also see a change in section 548(2) of this Act. The words "and (h)" are replaced with "(h), and (ha)". This means that the new part added after section 548(1)(h) is now included in this section.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7383124.

Topics:
Money and consumer rights > Banking and loans
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170: New section 155A and cross-heading inserted, or

"Rules for managed investment schemes that are set up as trusts are a bit different"

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172: Section 550 amended (Procedural requirements for regulations relating to exemptions, exclusions, and definitions), or

"Changes to the rules for making exceptions to the Trusts Act 2019"

Part 9Amendments to other Acts
Amendments to Financial Markets Conduct Act 2013

171Section 548 amended (Other regulations)

  1. After section 548(1)(h), insert:

    Trusts Act 2019 disapplied

  2. providing that specified provisions of the Trusts Act 2019 do not apply to a trust, or a class of trusts,—
    1. that is or will be regulated by or under this Act:
      1. that would be regulated by or under this Act except for the fact that an exclusion under Schedule 1 applies:

      2. In section 548(2), replace and (h) with (h), and (ha).