16 Dec 2021
RE TAURANGA ENERGY CONSUMER TRUST [2021] NZHC 3469
- Citation
- [2021] NZHC 3469
- Court
- High Court
The Court held the Current Trustees had lawful, express powers under the TECT Deed (notably cls 5,6,9 and broad cl 13 variation powers) and under the 2002 Charitable Trust deed to implement the Proposed TECT Restructure; the variations did not impermissibly alter the trust substratum, the CCP complied with deed requirements, trustees properly exercised duties under the Trusts Act 2019 and no disqualifying conflicts or predetermination was established; the Court granted directions under s133 and exercised inherent jurisdiction to permit implementation and to remove redundant cls 9.3 and 13.3.