17 Jul 2018
FRIENDS OF THE AUCKLAND ART GALLERY ACQUISITIONS TRUST v FRIENDS OF THE AUCKLAND ART GALLERY INCORPORATED & ORS [2018] NZHC 1768
- Citation
- [2018] NZHC 1768
- Court
- High Court
The Court has jurisdiction under s 64(1) Trustee Act 1956 to approve textual variations to a charitable trust deed to confer on trustees the powers sought where expedient for management and administration, and it is an appropriate exercise of discretion in this case to add clauses permitting capital expenditure on artworks and gifting remaining assets to the Foundation given the financial situation, stakeholders' consensus, and consistent charitable purpose.