Unit trusts
A unit trust is a registered form of investment that is established by a trust deed made between a trustee and a manager. Registration takes place under the Unit Trusts Act 1960 (the Act).
The Minister in charge of the administration of the Act, currently the Minister of Commerce, must approve the trustee.
The manager has to be either a reporting entity as defined in the Financial Reporting Act 1993 or function as one.
Removing a unit trust from the register
There is no formal removal process for unit trusts, however section 4(5) of the Act allows the Manager and the Trustee to notify the Registrar in writing that the trust has been terminated.
Unit trusts fees
The fee to register a new unit trust is NZ$102.22 (This includes GST at the rate that applies from 1 October 2010).
