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DraftAs enacted

Part 3 · Amendment of Trustees Act 1967

22. Renumbering and amendment of section 84A

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(1)

In the Trustees Act, renumber the existing section 84A as section 84Q.

(2)

In the Trustees Act, in section 84Q (as renumbered by subsection (1)) —

(a)

in subsection (2), after paragraph (b), insert —“(ba)provide that a trustee of a relevant trust must —

(i)

retain any document relating to the trust, as may be prescribed; and

(ii)

keep and maintain up‑to‑date records of any information relating to the administration of the trust or other relevant information relating to the trust, as may be prescribed;”;

(b)

in subsection (2)(d), after “paragraphs (a), (b)”, insert “, (ba)”; and

(c)

in subsection (2)(g), replace “$1,000” with “$25,000”.

Report

Part 4

Consequential Amendments to Other Acts and Saving and Transitional Provision