239PWinding up of private water trusts

239P Winding up of private water trusts

239P Winding up of private water trusts

(1) The Minister may, by order published in the Gazette, order that a private water trust be wound up if—

(a) requested to do so by the trustees after a resolution to wind up the trust was passed at a meeting of the trust by not less than 75% of the members of the trust, or

(b) the administrator of the trust has recommended that the trust be wound up.

(2) The order must appoint a person as the liquidator of the trust.

(3) The regulations may make provision for or with respect to the winding up of a trust and for the disposal of residual assets held by or on behalf of the trust.

(4) The Minister may, by order published in the Gazette, abolish a trust if satisfied that the winding up of the trust under this section has been completed.

s 239P: Ins 2010 No 133, Sch 2[59].