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Trusts Act 2019

Amendments to other Acts - Amendment to Retirement Villages Act 2003

184: New section 105A inserted (Regulations exempting from provisions of Trusts Act 2019)

You could also call this:

"The Governor-General can create rules to exempt some trusts from following parts of the Trusts Act 2019."

Illustration for Trusts Act 2019

The Governor-General can make rules that let some trusts or people not follow certain parts of the Trusts Act 2019. You might be wondering how this works, so let's break it down: the Governor-General can only make these rules if a Minister recommends it. The Minister will only recommend this if they think following the Trusts Act 2019 would be unnecessary or too hard for the trust or person.

The Minister must consider the purpose of the Trusts Act 2019 when deciding whether to recommend exemptions. They need to make sure that the rules do not let trusts or people avoid following the Act more than they need to. This means the Minister has to balance the needs of the trust or person with the goals of the Trusts Act 2019.

The Governor-General's rules can say that some trusts or people do not have to follow certain parts of the Trusts Act 2019, and they can also set conditions for this exemption. You can find more information about the Trusts Act 2019 on the New Zealand legislation website. The rules made by the Governor-General will depend on the specific circumstances of the trust or person.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS106690.

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183: Amendment to Retirement Villages Act 2003, or

"Changes to the law about retirement villages"

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Schedule 1: Transitional, savings, and related provisions, or

"Special rules for when the Trusts Act 2019 started and how it affects older trusts"

Part 9Amendments to other Acts
Amendment to Retirement Villages Act 2003

184New section 105A inserted (Regulations exempting from provisions of Trusts Act 2019)

  1. After section 105, insert:

    105ARegulations exempting from provisions of Trusts Act 2019

    1. The Governor-General may, by Order in Council, make regulations exempting any trust, trustee, statutory supervisor, operator, or other person, or any class of trust or person, from the application of any provision or provisions of the Trusts Act 2019 and prescribing the terms and conditions (if any) of the exemption.

    2. Regulations may only be made under this section on the recommendation of the Minister, and the Minister may make a recommendation only if satisfied that—

    3. the application of the provision or provisions of the Trusts Act 2019 would, in the circumstances, be unnecessary in respect of the trust or class of trust, or would require the trustee, statutory supervisor, operator, or other person or class of person to comply with requirements that were unduly onerous or burdensome; and
      1. having regard to the purpose and principles of the Trusts Act 2019 and the purpose of this Act, the extent to which the application of the provisions of the Trusts Act 2019 is disapplied is not broader than is reasonably necessary to address the matters that gave rise to the regulations.