Authorised investments
[Repealed]
Authorised investments: this definition was repealed, as from 1 October 1988, by section 2(1) Trustee Amendment Act 1988 (1988 No 119).
Bank means a bank within the meaning of the Banking Act 1982
Bank: the Banking Act 1982, the Reserve Bank of New Zealand Act 1864, the Post Office Act 1959, and the Private Savings Banks Act 1983 have been substituted for the repealed Banking Act 1908, the repealed Reserve Bank of New Zealand Act 1933, the repealed Post and Telegraph Act 1928, and the repealed Private Savings Bank Act 1964; and the words in the fourth set of single square brackets were inserted by section 2(1) of the Private Savings Bank Act 1964. The insertion is not affected by the repeal of that Act by section 22(1) of the Private Savings Banks Act 1983. See section 22(2) of the 1983 Act. The reference to a trustee bank constituted under the Trustee Banks Act 1983 was substituted for a reference to a trustee savings bank constituted under the Trustee Savings Bank Act 1948 by section 54(5) of the Trustee Banks Act 1983.
Bank: this definition was substituted, as from 1 October 1988, by section 2(2) Trustee Amendment Act 1988 (1988 No 119).
Benefit, in relation to any person, includes insurance on the life of that person
Contingent right, as applied to land, includes a contingent or executory interest, a possibility coupled with an interest, whether the object of the gift or limitation of the interest or possibility is or is not ascertained, also a right of entry, whether immediate or future, and whether vested or contingent
Conveyance, as applied to any person, includes the execution by that person of every necessary or suitable assurance for conveying, transferring, assigning, appointing, surrendering, or otherwise disposing of land whereof he is seised or possessed, or wherein he is entitled to a contingent right, either for his whole estate, or for any less estate, together with the performance of all formalities required by law for the validity of the conveyance; and to convey has a corresponding meaning
Court means the High Court
Court: in the definition of this term the reference to the High Court was substituted for a reference to the Supreme Court by section 12 of the Judicature Amendment Act 1979.
Government securities or New Zealand Government securities
[Repealed]
Government securities or New Zealand Government Securities: this definition was repealed, as from 1 October 1988, by section 2(1) Trustee Amendment Act 1988 (1988 No 119).
Income includes rents and profits other than profits which under any rule of law are in the nature of capital
Instrument includes an Act of Parliament
Land includes land of any tenure, and mines and minerals, whether or not severed from the surface, buildings or parts of buildings, whether the division is horizontal, vertical, or made in any other way, and any other corporeal hereditament; and also includes a rent and other incorporeal hereditaments, and an easement, right, privilege, share, interest, or benefit in, over, or derived from land; and in this definition mines and minerals includes any strata or seams of minerals or substances in or under any land, and powers of working and getting the same; and in this definition hereditaments means real property which under an intestacy might at common law have devolved on an heir
Lease includes a bailment
Mortgagee includes every person having an estate or interest regarded at law or in equity as merely a security for money; and also includes every person deriving title to the mortgage under the original mortgagee; and mortgage has a corresponding meaning
Payment, in relation to stocks and securities, includes the deposit or transfer of the same; and to pay has a corresponding meaning
Person includes a trustee corporation, and a corporation sole, and also a body of persons, whether corporate or unincorporate
Personal representative means the executor, original or by representation, or an administrator for the time being of a deceased person
Possession includes receipt of income or the right to receive the same, if any; and possessed applies to receipt of income of and to any vested estate less than a life interest, at law or in equity, in possession or in expectancy in any land
portfolio investment entity means a portfolio investment entity within the meaning of the Income Tax Act 2004
Property includes real and personal property, and any estate, share, and interest in any property, real or personal, and any debt, and any thing in action, and any other right or interest, whether in possession or not
Registrar means the Registrar of the Court for the district in which any proceeding is taken or anything is done under this Act, and includes a deputy Registrar where there is no Registrar, or in any case where the Deputy may lawfully act for and on behalf of the Registrar
Rent includes a rent service or a rentcharge, or other rent, toll, duty, royalty, or annual or periodical payment in money or money's worth reserved or issuing out of or charged upon land, but does not include mortgage interest
Right includes an estate or interest
Sale includes an exchange; and to sell has a corresponding meaning
Securities includes stock, funds, shares, and convertible notes; and securities payable to bearer includes securities transferable by delivery or by delivery and endorsement
Securities: this definition was substituted, as from 1 October 1988, by by section 2(3) and (4) Trustee Amendment Act 1988 (1988 No 119).
Stock—

Transfer, in relation to stock or securities, includes the performance and execution of every deed, power of attorney, act, and thing on the part of the transferor to effect and complete the title in the transferee
Trust does not include the duties incidental to an estate conveyed by way of mortgage, but with this exception it extends to implied and constructive trusts, and to cases where the trustee has a beneficial interest in the trust property, and to the duties incidental to the office of an administrator within the meaning of the Administration Act 1969, or a manager or person authorised to administer the estate of any person under the Protection of Personal and Property Rights Act 1988, or a manager of a protected estate appointed under the Protection of Personal and Property Rights Act 1988; and trustee has a corresponding meaning and includes a trustee corporation and every other corporation in which property subject to a trust is vested and every person who immediately before the commencement of this Act was a trustee of the settlement or in any way a trustee under the Settled Land Act 1908; and new trustee includes an additional trustee
Provided that in sections 14, 15, 16, 21, 23, 31, 32, 40, 41, 42, 43, 44, 45, 46, 47, 51, 65, 66, and 67 of this Act the term trust does not include the duties incident to the office of a manager or person authorised to administer the estate of any person under the Protection of Personal and Property Rights Act 1988 or a manager of a protected estate appointed under the Protection of Personal and Property Rights Act 1988; and the term trustee is modified accordingly:
Trust: the words in the first set of single square brackets were substituted for the words “a personal representative” by section 2 of the Trustee Amendment Act 1968. The Administration Act 1969 has been substituted for the repealed Administration Act 1952. The Settled Land Act 1908 was repealed by section 89(1) of this Act.
Trust: the references to the Protection of Personal and Property Rights Act 1988 were substituted, as from 1 October 1988, for references to the Mental Health Act 1969 and the Aged and Infirm Persons Protection Act 1912 pursuant to section 113 Protection of Personal and Property Rights Act 1988 (1988 No 4).
Trustee corporation means Public Trust or the Maori Trustee or any corporation authorised by any Act of the General Assembly to administer the estates of deceased persons and other trust estates
Trustee corporation: this definition was amended, as from 1 March 2002, by section 170(1) Public Trust Act 2001 (2001 No 100) by substituting the words “Public Trust” for the words “the Public Trustee”. See clause 2 Public Trust Act Commencement Order 2002 (SR 2002/11).
Trust for sale, in relation to land, means an immediate binding trust for sale, whether or not exercisable at the request or with the consent of any person, and with or without power at discretion to postpone the sale; and trustee for sale means the person (including a personal representative) holding land on trust for sale.

In section 4(1)(a) the reference to New Zealand Government securities does not include Post Office Bonus Bonds; see section 129A(3) Post Office Act 1959 (1959 No 30).
Section 4(1)(b) was amended, as from 6 April 1974, by section 4(1) Trustee Amendment Act 1974 (1974 No 15) by inserting the expression “or subsection (3A)”.
Section 4(1)(b) was amended, as from 23 November 1982, by section 2 Trustee Amendment Act (No 2) 1982 (1982 No 106) by inserting the words “or subsection (3AA)”.
Section 4(1)(c) was amended, as from 18 October 1957, by section 2(1) Trustee Amendment Act 1957 (1957 No 37) by inserting the words “or Fire Board”.
Section 4(1)(c) was amended, as from 23 October 1969, by section 2(1)(a) Trustee Amendment Act 1969 (1969 No 110) by inserting the words “or Catchment Commission”.
Section 4(1)(c) was amended, as from 1 April 1978, by 7(3) Local Government Amendment Act (No 3) 1977 (1977 No 122) by inserting the words “or District Council, or Regional Council, or United Council”.
Section 4(1)(d) was amended, as from 30 August 1965, by section 25 Northland Harbour Board Act 1965 (1965 No 7)(L) by inserting the words “Northland Harbour Board”.
Section 4(1)(d) was further amended, as from 23 October 1969, by section 2(1)(b) to (d) Trustee Amendment Act 1969 (1969 No 110) by inserting the words “the Marlborough Harbour Board”, the words “the Nelson Harbour Board” and the words “the Taranaki Harbours Board, the Tauranga Harbour Board”.
Section 4(1)(d) was amended, as from 24 August 1970, by section 2(4) Bay of Plenty Harbour Board Act 1970 (1970 No 5)(L) by substituting the words “the Bay of Plenty Harbour Board” for the words “the Tauranga Harbour Board”.

Section 4(1)(d) was amended, as from 13 May 1974, by clause 2 Trustee Investments Order 1974 (SR 1974/109) by inserting the words “the Wellington Regional Water Board”.
Section 4(1)(d) was amended, as from 1 April 1975, by section 2(4) Hawke's Bay Harbour Board Act 1974 (1974 No 8)(L) by substituting the words “the Hawke's Bay Harbour Board” for the words “the Napier Harbour Board”.
Section 4(1)(e) was amended, as from 23 October 1969, by section 2(1)(e) Trustee Amendment Act 1969 (1969 No 110) by omitting the words “the Marlborough Harbour Board, the Taranaki Harbours Board, the Tauranga Harbour Board”.
Section 4(1)(ea) was inserted, as from 1 September 1976, by section 6 Trustee Savings Bank Amendment Act 1976 (1976 No 27).
Section 4(1)(ea) was substituted, as from 1 April 1984, by section 52 Trustee Savings Bank Amendment Act 1983 (1983 No 116).
Section 4(1)(ea) was repealed, as from 23 September 1988, by section 40(1) Trustee Banks Restructuring Act 1988 (1988 No 90). See clause 2 Trustee Banks Act Repeal Order 1988 (SR 1988/216). The paragraph formerly read as:
Section 4(1)(eb) and (ec) were inserted, as from 1 May 1988, by section 37(2) Trustee Banks Restructuring Act 1988 (1988 No 90).
The words “Housing Corporation of New Zealand” in section 4(1)(f) were substituted, as from 14 October 1974, for the words “State Advances Corporation of New Zealand” pursuant to section 50(3)(a) Housing Corporation Act 1974 (1974 No 19).
Section 4(1)(hh) was inserted, as from 1 January 1966, by section 139(4) Building Societies Act 1965 (1965 No 22).
Section 4(1)(hh) was substituted, as from 1 September 1987, by section 41(3) Building Societies Amendment Act 1987 (1987 No 175).
Section 4(1)(i) was amended, as from 15 November 1968, by section 3 Trustees Amendment Act 1968 (1968 No 24) by inserting the words “or by any other body or person”.
Section 4(1)(i) was substituted, as from 1 April 1984, by section 16(1) Auckland Harbour Bridge Authority Dissolution Act 1983 (1983 No 153).
Section 4(1)(ii) was inserted, as from 6 April 1974, by section 2 Trustee Amendment Act 1974 (1974 No 15).
Subsection 4(1)(ij) was inserted, as from 1 November 1976, by section 3(3) National Provident Fund Amendment Act 1976 (1976 No 28).
Section 4(1A) to (1E) were inserted, as from 6 April 1974, by section 3 Trustee Amendment Act 1974 (1974 No 15).
Section 4(1A)(c) was amended, as from 22 August 1975, by section 5 Public Trust Office Amendment Act 1975 (1975 No 27) by inserting the words “the Public Trust Office Act 1957 or of”.

Section 4(1DA) was inserted, as from 23 December 1977, by section 2 Trustee Amendment Act (No 2) 1977 (1977 No 179).
Section 4(3) was amended, as from 18 October 1957, by section 2(2) Trustee Amendment Act 1957 (1957 No 37) by omitting the word “over”.
Section 4(3) was further amended, as from 1 April 1987, by section 11(1) State-Owned Enterprises Amendment Act 1987 (1987 No 117) by substituting the words “Director-General of Lands or Lands Corporation Limited” for the words “Land Settlement Board”.
Section 4(3A) and (3B) were inserted, as from 6 April 1974, by section 4(2) Trustee Amendment Act 1974 (1974 No 15).
Section 4(3AA) was inserted, as from 2 November 1979, by section 29(1) Unit Titles Amendment Act 1979 (1979 No 37).
Section 4(3AA) was substituted, as from 22 October 1981, by section 3(3) Unit Titles Amendment Act 1981 (1981 No 100).
Section 4(3C) was inserted, as from 22 October 1981, by section 3(2) Unit Titles Amendment Act 1981 (1981 No 100).
Section 4(5) was inserted, as from 6 April 1974, by section 5 Trustee Amendment Act 1974 (1974 No 15).
Section 4(6) was inserted, as from 1 May 1988, by section 37(3) Trustee Banks Restructuring Act 1988 (1988 No 90).
Part 2 (comprising sections 13A to 13Q) was substituted, as from 1 October 1988, for the original Part 2 (comprising sections 4 to 13) by section 3 Trustee Amendment Act 1988 (1988 No 119). See section 15 of that Act as to certain provisions deemed to empower investment in accordance with Trustee Act 1956 as amended.