Chapter 5
Trustees’ duties

Application of duties to trustees of trusts under different statutes

5.55Our intention is that the recommendations in this chapter create a general floor or baseline as to the obligations on trustees. These will apply generally across all types of trustees, including trustees of trusts created by or in accordance with other statutes that rely on the foundation of general trust law. This approach accords with the way that trust law currently interacts with specific types of statutory trusts, such as financial markets trusts and trusts established under Te Ture Whenua Maori Act 1993.

5.56It should be emphasised that the duties apply contextually in that there may be different emphases placed on them and different nuances that apply in different contexts. For instance, the Māori Land Court, in supervising trusts under Te Ture Whenua Maori Act will have particular approaches to the duties that are appropriate in its context.