1. Compliance
  2. Independent trustees
  3. Who needs to comply
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Independent trustees

Page last updated: 21 Feb 2019

Who needs to comply

Every restricted managed investment scheme must have at least one licensed independent trustee. They must meet the definition of independent in the Act (section 131).

A restricted scheme is a KiwiSaver, superannuation or workplace savings scheme on the register of Managed Investment Schemes, and is identified on it as a restricted scheme.

You'll need a licence if you are appointed as an independent trustee of a:

  • Restricted KiwiSaver scheme
  • Workplace superannuation or legacy scheme.

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