Abstract
The New Zealand Law Commission has presented recommendations for the review of trusts’ law. It proposes far-reaching reforms including defining a trust in statute. There is a clear risk that some proposals would have an adverse effect on New Zealand trusts. In particular, they may damage the marriage between flexibility and certainty that exists in trusts’ jurisprudence and that enables the law, to a considerable degree, to future proof itself against unknown and unknowable change, especially in a financing context. A statutory straitjacket is not the answer. Further analysis of the ramifications of the proposed reforms needs to be undertaken.
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