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Trustees Executors Limited Amendment Bill (Consistent) [2006] NZBORARp 4 (20 February 2006)

Last Updated: 8 December 2018

Trustees Executors Limited Amendment Bill

20 February 2006 Attorney-General

LEGAL ADVICE

CONSISTENCY WITH THE NEW ZEALAND BILL OF RIGHTS ACT 1990: TRUSTEES EXECUTORS LIMITED AMENDMENT BILL

1. We have considered the Trustees Executors Limited Amendment Bill, a Private Bill in the name of Hon Marian Hobbs (the "Bill") for consistency with the New Zealand Bill of Rights Act (the "Bill of Rights Act"). We understand that the Bill was introduced to the House of Representatives on 3 February 2006 and that the next Members’ day is scheduled for Wednesday, 22 February 2006.
   
2. The Bill amends the TOWER Trust Limited Act 2002 (the "principal Act"). The principal Act authorises Trustees Executors Limited ("the Company"), previously known as TOWER Trust Limited, to transact business with its parent companies and those companies’ subsidiaries.
   
3. The purpose of the Bill is to:
   

• rename the principal Act so that it reflects the Company’s current name;
  
• provide that the Company’s existing express authorisation to transact business with its parent companies and their subsidiaries applies to its current parent company, Sheffield Investments Incorporation (NZ) Holdings Limited and subsidiaries;
  
• authorise the Governor-General, by Order in Council, to amend the Schedule to the principal Act by adding the name of a body corporate that is a holding company of the Company; and
  
• ensure that the principal Act accurately reflects the Company’s current ownership structure.
  

4. We have concluded that the Bill appears to be consistent with the Bill of Rights Act.
   

In addition to the general disclaimer for all documents on this website, please note the following: This advice was prepared to assist the Attorney-General to determine whether a report should be made to Parliament under s 7 of the New Zealand Bill of Rights Act 1990 in relation to the Trustees Executors Limited Amendment Bill. It should not be used or acted upon for any other purpose. The advice does no more than assess whether the Bill complies with the minimum guarantees contained in the New Zealand Bill of Rights Act. The release of this advice should not be taken to indicate that the Attorney-General agrees with all aspects of it, nor does its release constitute a general waiver of legal professional privilege

in respect of this or any other matter. Whilst care has been taken to ensure that this document is an accurate reproduction of the advice provided to the Attorney-General, neither the Ministry of Justice nor the Crown Law Office accepts any liability for any errors or omissions.