12 Mar 2014

Private trusts to be reviewed

11:46 am on 12 March 2014

Justice Minister Judith Collins says the Government intends to carry out a review of how private trusts operate, in response to Law Commission recommendations.

Ms Collins says the use of trusts ranges from high finance through to the family home, with an estimated 300,000 to 500,000 operating in New Zealand, and a new Trusts Act will make the law clearer and more accessible.

She says the Government will look more closely at the details of any new legislation before introducing it.

The announcement comes after Labour Party leader David Cunliffe found himself in hot water for using a trust to allow anonymous donations to fund his leadership bid in 2013.