69Standard form trust instruments for trusts over institutional private trust land

69 Standard form trust instruments for trusts over institutional private trust land

69 Standard form trust instruments for trusts over institutional private trust land

(1) The instrument set out in Schedule 3 is prescribed as the standard form trust instrument for the purposes of clause 22 of Schedule 7 to the Act.

(2) The following provisions apply in relation to any meeting of the trustees of institutional private trust land held under clause 22 of Schedule 7 to the Act to adopt a trust instrument in or to the effect of a standard form trust instrument—

(a) written notice of the meeting must be given to each of the trustees at least 28 days before the day of the meeting,

(b) the written notice must state that the meeting will consider the adoption of a trust instrument, and

(c) a copy of the proposed trust instrument and the agenda for the meeting must be given to each trustee at least 10 days before the day of the meeting.