Darlow v Raymond - [2017] 3 NZLR 353

Property law — Definition of property — Power under trust deed to appoint directors of company — Whether powers tantamount to property — Trustee Act 1956, s 2(1).

Trusts and trustees — Perpetuities — Whether applied to power to appoint directors — Whether applied to vesting of property in interest or in possession.

Trusts and trustees — Powers of trustees — Trust holding property and granting powers to appoint directors of company and related powers — Tangible assets all distributed — Whether trustees to continue to exercise powers or trust to be wound up — Whether trustees to continue to exercise powers during process of winding up.

Trusts and trustees — Winding up — Trust holding property and granting powers to appoint directors of company and related powers — Tangible assets all distributed — Whether trustees to continue to exercise powers or trust to be wound up — Whether powers tantamount to property — Trustee Act 1956, s 2(1).