In the acquisition of the preference or ordinary stock or shares issued by any company incorporated in New Zealand:

In debentures (including debenture stock and bonds), and convertible notes, whether constituting a charge on assets or not, secured by a trust deed and issued by any company in which at the time of investment it would have been permissible to invest in the purchase of ordinary stock or shares:

In any Group Investment Fund within the meaning of Part II of the Trustee Companies Act 1967 if all the investments in which the Fund may be invested are authorised investments:

In the Common Fund of the Public Trust Office.

Any stock or shares, or convertible notes, or any such debentures, not officially listed on stock exchanges affiliated to the Stock Exchange Association of New Zealand; or

Any stock or shares or convertible notes, or any such debentures, not fully paid up, except such as are, by the terms of issue, required to be fully paid up within 12 months of the date of issue; or

Any convertible notes or any such debentures, under or in respect of which any liability to make further advances or payments will remain after the expiration of 12 months from the date of acquisition.

Unless the company has at the date of the investment by the trustee a paid-up share capital of not less than $2,500,000, and has had a paid-up share capital of at least that amount during the whole of the preceding 3 years; and

If the company has not paid a dividend of at least 5 percent, in each complete financial year of the company the last day of which occurred within 5 years before the date of the investment, on all ordinary stock and shares issued by the company, excluding (in respect of the financial year of issue) any stock or shares issued in that financial year after the dividend was declared and any stock or shares on which (in terms of their issue) no dividend or dividends of less than 5 percent are payable in the financial year.

To have had a paid-up share capital of the requisite amount during any part of the relevant period if during that part any such acquired company had a paid-up share capital of at least that amount; and

To have paid the requisite dividend in any financial year if such a dividend was paid by each such acquired company in each financial year of that company any part of which fell within the relevant financial year of the new company.”

That no advance shall be made except in respect of a lease which—

That in making any advance under this subsection—

That any mortgage of the interest of the lessee of any land to which paragraph (a) of this subsection applies shall contain a provision irrevocably appointing the mortgagee, or declaring that the mortgagee shall be deemed to have been irrevocably appointed, as attorney of the lessee with full authority so long as any money remains owing under the mortgage to exercise on behalf of the lessee all the lessee’s rights, powers, and options.

Inserting in any such paragraph the name or description of any local authority or class of local authorities within the meaning of Part VI of the Local Authorities Loans Act 1956:

Omitting from any such paragraph the name or description of any local authority or class of local authorities within the meaning of Part VI of the Local Authorities Loans Act 1956.”

Is for the time being out of New Zealand or is about to depart therefrom; or

Expects that he may be absent from New Zealand from time to time during the administration of the trust; or

Is or may be about to become temporarily incapable, by reason of physical infirmity, of performing all his duties as a trustee; or

Expects that he may be from time to time temporarily incapable, by reason of physical infirmity, of performing all his duties as a trustee,—

The total amount that has already been paid to any trustee of the trust, whether pursuant to the trust instrument or to any earlier order of the Court or to any agreement or otherwise;

The amount and difficulty of the services rendered by the trustee;

The liabilities to which the trustee is or has been exposed, and the responsibilities imposed on him;

The skill and success of the trustee in administering the trust;

The value of the trust property;

The time and services reasonably required of the trustee;

Whether any commission or percentage that might otherwise have been allowed should be refused or reduced by reason of delays in the administration of the trust that were occasioned, or that could reasonably have been prevented, by the trustee; and

All other circumstances that the Court considers relevant.