✨ Trust Deed Provisions
26 APRIL 2011 NEW ZEALAND GAZETTE, No. 56 1301
Name of trusts
2.2 The trusts established by this deed are to be known as the "Forestry Emission Unit Trust".
Status of Trust
2.3 The Trust is not an instrument of the Crown, nor of the Government of New Zealand.
3. PURPOSES
3.1 The Trust is established for the purposes of:
(a) applying for an allocation of New Zealand Units in respect of Eligible CFL Land in accordance with the Act;
(b) holding on trust for the Beneficiaries any allocation of New Zealand Units in respect of Eligible CFL Land; and
(c) distributing the New Zealand Units to the Beneficiaries in accordance with clause 6.
4. INCOME TRUSTS
Power to pay or apply income
4.1 The Trustees may pay or apply as much of the Income in an Income Year as they think fit for or towards one or more of the purposes of the Trust. If the Trustees provide for more than one purpose they need not treat each purpose equally.
Power to retain income
4.2 The Trustees need not distribute all of the Income in an Income Year, but may retain or decide to retain all or part of that income to establish or augment any reserve fund, which may be used at any later time for any purpose for which Income may be used.
5. CAPITAL TRUSTS
5.1 The Trustees may not distribute or otherwise apply or use any part of the Capital, except in accordance with clause 6 or on the determination of the Trust in accordance with clause 12.
6. DISTRIBUTIONS
Distributions following transfer of Eligible CFL Land pursuant to a Treaty of Waitangi settlement
6.1 As soon as reasonably practicable after Eligible CFL Land has been transferred to a Beneficiary pursuant to a Treaty of Waitangi settlement, the Trustees must:
(a) determine the number of New Zealand Units that the relevant Beneficiary is entitled to receive in respect of that land; and
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NZ Gazette 2011, No 56
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Trust Deed Table of Contents
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📰 NZ GazetteTrust Deed, Contents, Schedules, Trustees, Rules
🏢 Forestry Emission Unit Trust Details
🏢 State Enterprises & InsuranceTrust, Forestry, Emission Units, Beneficiaries, New Zealand Units