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Ending a charitable trust
There are two main ways in which charitable trust boards may be brought to an end - dissolution and liquidation.
Dissolution | The Charitable Trusts Act 1957 provides for a board to be dissolved if it is no longer carrying on its operations.
Liquidation by order of the High Court | The High Court can also put a board into liquidation if it considers it is just and equitable to do so.
Liquidation by members' resolution | A board incorporated on the application of members of a society can be put into liquidation by a members’ resolution that is confirmed at a later meeting.
Dissolution
The Charitable Trusts Act 1957 provides for a board to be dissolved if it is no longer carrying on its operations. The procedure takes two-three weeks on average, as it involves work by the Registrar who must also give public notice of the dissolution in the New Zealand Gazette.
Revoking a dissolution
After the dissolution of a board, the Registrar can revoke the dissolution if he is satisfied that the trust is still operating (for example, if property remains in the name of a dissolved board).
Unlike incorporated societies, that there is no fee for making such a request - it is FREE.
Read more about restoring a charitable trust to the Register.
