What the official record says
This Act is the Trusts Act . This Act comes into force on the day that is 18 months after the date on which it receives the Royal assent. However, comes into force on the day after the date on which this Act receives the Royal assent. The purpose of this Act is to restate and reform New Zealand trust law by— setting out the core principles of the law relating to express trusts; and providing for default administrative rules for express trusts; and providing for mechanisms to resolve trust-related disputes; and making the law of trusts more accessible. Every person or court performing a function or duty or exercising a power under this Act must have regard to the following principles: a trust should be administered in a way that is consistent with its terms and objectives: a trust should be