We have updated our Trust Distribution Resolution or Minutes template, the documents generated by "Trust Distribution Resolution or Minutes" will now reflect as a Resolution or a Minutes dependent on the number and type of trustees or directors of the trustee.
- Trusts with Multiple Individual Trustees and/or Corporate Trustees with Multiple Directors will have a Minutes of meeting generated when they prepare a Trust Distribution.
- Trusts with Sole Individual Trustee and/or Corporate Trustee with Sole Director will have a Resolution generated when they prepare a Trust Distribution.
The reason for this change is not all trust Deeds/Constitutions (as applicable) provide for written/circulating resolutions to be passed instead of a meeting held (in the case of corporate trustees, note that the ability to pass circulating resolutions is only a replaceable rule - they are found in many Constitutions but not on all Constitutions). On the other hand, all Constitutions permit meetings (i.e. minutes) because the Corporations Act requires meetings (unless the Act permits otherwise) - e.g. in the case of sole directors as sole directors cannot have a meeting, and also members' meetings.
If you wish to change the trust distribution document to Minutes/Resolution you can use our edit online functionality which allows users to edit the document as required.
If you require assistance with interpreting a Constitution/Deed to determine whether a circulating resolution is allowed, we recommend seeking your own external legal opinion. Alternatively, although NowInfinity isn't authorised to provide direct legal advice we can refer you to our external legal provider for a legal review of the service, noting that an additional service fee will apply.