Homewood Trust Amendment Act 1979
Homewood Trust Amendment Act 1979
Checking for alerts... Loading...
Homewood Trust Amendment Act 1979
Homewood Trust Amendment Act 1979
Private Act |
1979 No 2 |
|
Date of assent |
2 November 1979 |
|
Contents
An Act to amend the Homewood Trust Act 1942
WHEREAS the Board constituted under the provisions of the Homewood Trust Act 1942 (hereinafter referred to as the principal Act) has certain powers and duties contained in the said Act and in the deed of trust set out in the Schedule thereto: And whereas the said powers of the Board are limited to the purposes set out in clause 2 of the deed of trust: And whereas the number of persons entitled to benefit as comprehended in the term “authorised beneficiary”
in the deed of trust has diminished since the passing of the principal Act and progressively continues to diminish: And whereas the Board desires to extend the scope and purposes of clause 2 of the deed of trust to the intent that the Board shall have an absolute discretion to pay and distribute in cash or in specie all or any part of the capital or the income of the Trust Estate for generally charitable purposes, aims, and objectives, notwithstanding that persons other than “authorised beneficiaries”
may benefit therefrom: And whereas it is desired to amend the principal Act to give the Board the extended powers as aforesaid:
BE IT THEREFORE ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:
1 Short Title
This Act may be cited as the Homewood Trust Amendment Act 1979, and shall be read together with and deemed part of the Homewood Trust Act 1942.
2 Trustees may apply trust assets for general charitable purposes
The Deed of Trust shall be read as if there were inserted, after clause 2 (as amended by section 2 of the Homewood Trust Amendment Act 1952), the following clause:
“2A
Notwithstanding anything in clause 2 of this deed, the Trustees may pay and distribute in cash or in specie, at such times as the Trustees in their absolute discretion may determine, all or any part of the capital or the income of the Trust Estate for any charitable purpose that may benefit any authorised beneficiary, notwithstanding that persons other than authorised beneficiaries may benefit therefrom.”
3 Private Act
This Act is hereby declared to be a private Act.
"Related Legislation
"Related Legislation
"Related Legislation
Versions
Homewood Trust Amendment Act 1979
RSS feed link copied, you can now paste this link into your feed reader.