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We will produce a report on the findings of this survey and share this on our website.
Where a vesting order is sought to gift Māori land shares that
have a value of over $2000, the owner of the shares will need
to give evidence, either in Court or in a written affidavit13 or
declaration, to support the application.
Trusts Act 2019 impacts on trusts
Effective from 30 January 2021
What do trustees need to do differently?
There are new requirements on trustees to keep and share certain
information.
Except for
kaitiaki trusts, the process is the same to set up each type of
trust. The owners first need to have a meeting at which they:
• agree to set up the trust
• agree which blocks of land or shares should be included in
the trust
• agree to the terms of the draft trust order which sets out
the trustees’ powers, rights and obligations
• nominate trustees
• take accurate minutes.
Except for
kaitiaki trusts, the process is the same to set up each type of
trust. The owners first need to have a meeting at which they:
• agree to set up the trust
• agree which blocks of land or shares should be included in
the trust
• agree to the terms of the draft trust order which sets out
the trustees’ powers, rights and obligations
• nominate trustees
• take accurate minutes.
Except for
kaitiaki trusts, the process is the same to set up each type of
trust. The owners first need to have a meeting at which they:
• agree to set up the trust
• agree which blocks of land or shares should be included in
the trust
• agree to the terms of the draft trust order which sets out
the trustees’ powers, rights and obligations
• nominate trustees
• take accurate minutes.
