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Business Trust Deed

Business Trust Deed Template for New Zealand

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Key Requirements PROMPT example:

Business Trust Deed

"I need a Business Trust Deed for establishing a property investment trust that will hold multiple commercial properties in Auckland, with three corporate trustees and specific provisions for an investment committee to oversee acquisition decisions."

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Document background
The Business Trust Deed is a sophisticated legal instrument used when establishing a trust structure for commercial purposes in New Zealand. It's particularly relevant when businesses seek to separate ownership and management of assets, create investment vehicles, or establish succession planning structures. The deed must comply with the Trusts Act 2019 and related New Zealand legislation, making it essential to include specific provisions regarding trustee duties, powers, and beneficiary rights. A Business Trust Deed typically contains detailed provisions for business operations, investment powers, distribution policies, and governance structures, making it suitable for various commercial applications from family businesses to large-scale investment ventures.
Suggested Sections

1. Parties: Identifies the settlor(s) and trustee(s) of the trust

2. Background: Sets out the context and intention to establish the business trust

3. Definitions and Interpretation: Defines key terms and interpretation rules used throughout the deed

4. Declaration of Trust: Formal establishment of the trust and initial trust property

5. Trust Purpose: Clearly defines the business and commercial purposes of the trust

6. Duration of Trust: Specifies the trust period and vesting date

7. Trustee Powers: Comprehensive list of trustees' powers in managing the trust business

8. Trustee Duties: Mandatory and default duties under the Trusts Act 2019

9. Decision Making: Procedures for trustee decisions and voting requirements

10. Trust Capital and Income: Rules for managing trust capital and income

11. Distribution Rules: Provisions governing distribution of trust income and capital

12. Appointment and Removal of Trustees: Processes for changing trustees

13. Trustee Remuneration: Provisions for trustee compensation and expense reimbursement

14. Records and Accounts: Requirements for financial records and reporting

15. Variation of Trust: Procedures for amending the trust deed

16. Governing Law: Confirms New Zealand law governs the trust

Optional Sections

1. Advisory Trustee Provisions: Include when advisory trustees are to be appointed to provide specific expertise

2. Investment Committee: Include when a separate committee will oversee investment decisions

3. Custodian Trustee: Include when trust property will be held by a separate custodian trustee

4. Protector Provisions: Include when a trust protector role is desired for additional oversight

5. Alternative Dispute Resolution: Include specific procedures for resolving trust disputes

6. Business Succession Planning: Include specific provisions for business continuation after key trustee departure

7. Foreign Income Provisions: Include when trust expects to receive foreign-sourced income

8. Delegated Authority Provisions: Include when specific powers will be delegated to agents or managers

Suggested Schedules

1. Schedule 1: Initial Trust Property: Details of property settled to establish the trust

2. Schedule 2: Beneficiaries: List of initial beneficiaries and any classes of beneficiaries

3. Schedule 3: Trustee Powers: Detailed list of specific business and investment powers

4. Schedule 4: Trustee Remuneration Schedule: Detailed framework for calculating trustee fees and commissions

5. Schedule 5: Meeting Procedures: Detailed procedures for trustee meetings and decision-making

6. Schedule 6: Financial Reporting Requirements: Specific requirements for financial statements and reporting

7. Appendix A: Minute of Establishment: Record of trust establishment and initial trustee resolutions

8. Appendix B: Consent Forms: Standard forms for trustee consent and acceptance of appointment

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Accounting Period
Advisory Trustee
Appointor
Assets
Associated Person
Authorised Investments
Balance Date
Beneficiary
Business
Business Day
Capital
Chairperson
Companies Act
Confidential Information
Corporate Trustee
Custodian Trustee
Default Decision
Distribution
Dividend
Financial Statements
Financial Year
Income
Initial Property
Investment Committee
Investment Strategy
Law
Liabilities
Major Transaction
Management Committee
Meeting
Net Income
New Zealand
Original Trustee
Perpetuity Period
Powers
Property
Protector
Related Party
Related Trust
Resolution
Schedule
Settlor
Special Resolution
Successor Trustee
Trust
Trust Capital
Trust Deed
Trust Fund
Trust Income
Trust Period
Trust Property
Trust Records
Trustee
Trustees Act
Trusts Act 2019
Unanimous Resolution
Vesting Date
Working Day
Written Resolution
Clauses
Interpretation
Establishment of Trust
Trust Purpose
Declaration of Trust
Trust Duration
Trust Property
Trustee Appointment and Removal
Trustee Powers
Trustee Duties
Trustee Indemnification
Decision Making
Meetings
Investment Powers
Business Operations
Distribution Powers
Income and Capital
Beneficiary Rights
Variation of Trust
Record Keeping
Financial Reporting
Confidentiality
Dispute Resolution
Compliance
Risk Management
Delegation
Advisory Appointments
Protector Provisions
Remuneration
Liability
Termination
Governing Law
Execution
Relevant Industries

Financial Services

Property Development

Investment Management

Professional Services

Family Business

Agriculture

Real Estate

Retail

Manufacturing

Technology

Healthcare

Education

Construction

Mining and Resources

Relevant Teams

Legal

Finance

Compliance

Risk Management

Corporate Governance

Tax

Operations

Investment

Asset Management

Business Development

Administration

Board of Directors

Executive Leadership

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Legal Counsel

Corporate Lawyer

Trust Manager

Compliance Officer

Risk Manager

Company Secretary

Financial Controller

Business Development Manager

Investment Manager

Asset Manager

Tax Advisor

Trust Administrator

Board Director

Trustee

Commercial Director

Operations Manager

Industries
Trusts Act 2019: The primary legislation governing trusts in New Zealand, covering trustee duties, powers, appointment, removal, and trust administration requirements
Income Tax Act 2007: Governs the taxation of trust income, distributions, and trustee obligations for tax purposes
Tax Administration Act 1994: Covers administrative aspects of trust taxation, including filing requirements and record-keeping obligations
Financial Markets Conduct Act 2013: Relevant if the trust engages in investment activities or offers financial products to the public
Anti-Money Laundering and Countering Financing of Terrorism Act 2009: Applies to business trusts regarding customer due diligence and reporting obligations
Property Law Act 2007: Governs aspects relating to trust property and real estate holdings
Contract and Commercial Law Act 2017: Provides the legal framework for the trust deed as a contractual document
Companies Act 1993: Relevant if the trust involves corporate trustees or business interactions with companies
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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