skip to content

dbbt trust deed

27 Jan 2011 18:13:51

dbbt trust deed

part 3 (iv)     to grant such dispositions, transfers or other deeds as the circumstances may require containing such warrandice and other clauses and provisions as the Trustees may think proper;     (v)    to make rules for the management of the Trust Fund or for the application of the whole or any part of the capital or income thereof and to amend or cancel any such rules;     (vi)    to employ and pay such staff (if any) as the Trustees may deem expedient for the proper management of the Trust Fund, and to provide retirement and other benefits for any person so employed and his or her dependants;    (vii)    in applying capital under Clause 5 hereof, to appropriate any asset in specie and to convey and make over the same to any beneficiary selected by the Trustees under that Clause, and to appropriate and employ any asset in specie in implementing the purposes of Clause 5 hereof;     (viii)    in applying any sum, whether of capital or of income, under and within the terms of Clause 5 hereof, to set aside, invest and hold the same, by Minute to that effect as a separate Endowment Fund for behoof of any Institution to be named in the Minute or for any purpose to be specified in the Minute on the footing that, subject to the provisions of Clause 6 hereof, the income arising on the separate Endowment Fund so set aside shall be applied for the purposes specified in such Minute until the Termination Date or for such shorter period as the Trustees may at the time or from time to time decide upon; and if and so long as an Endowment Fund is so held, the same shall not be paid or applied, either as to capital or income, for any other purpose.     (ix)    to raise the money required for the Trust Purposes as provided in Clause 5 hereof including, without prejudice to the foregoing generality, power to raise money by public and private appeals, advertising, publication of brochures, promotion of entertainment events and the holding of public meetings or lectures; and declaring with regard to the foregoing that the Trustees shall have power from time to time to appoint professional fund raisers, advertising agencies or public relations consultants or the like to undertake, under the control and authority of the Trustees, the raising of funds;    (x)    to receive money or other assets donated to the Trust Fund subject to such terms, conditions and qualifications as may be attached to the donation by the donor provided that such terms, conditions and qualifications are, at the sole discretion of the Trustees, considered to be reasonable and capable of being implemented or adhered to within the terms of this Deed and in any event are not ultra vires the powers of the Trustees;    (xi)    to sell any asset forming part of the Trust Fund by public action or by private bargain;    (xii)    to compromise or settle any claim or dispute relating to the Trust Fund with or without the advice of Counsel;    (xiii)    to borrow money on the security of the Trust Fund or any part thereof;     (xiv)    to retain any asset forming part of the Trust Fund and in addition thereto in the form in which it shall come into the hands of the Trustees;     (xv)    to purchase, take on lease or exchange, hire or otherwise acquire any property and any rights and privileges considered appropriate for the promotion of the objects and construct, maintain and alter any buildings considered appropriate for the objects;     (xvi)    to make regulations for the management of any property which may be so acquired; and    (xvii)    cause to be prepared and printed or otherwise reproduced and circulated, free of charge or for payment, such papers, books, periodicals, pamphlets or other documents or films or recorded tapes (whether audio or visual or both) as shall further the objects.Indemnity8.        Every discretion or power conferred on the Trustees shall be an absolute and uncontrolled discretion or power and no Trustee shall be held liable for any loss or damage occurring as a result of his concurring or refusing or failing to concur in the exercise of any such discretion or power. The Trustees shall be entitled to purchase Trustee Indemnity Insurance and charge the premiums to the funds of the Trust.9.        No Trustee shall be liable for any loss arising by reason of any improper investment made in good faith, or for the negligence or fraud of any agent employed by the Trustees, or by reason of any mistake or omission made in good faith by any Trustee or by reason of any act or thing done or omitted to be done in pursuance of any determination of the Trustees under these presents notwithstanding that such determination may subsequently be held to have been wrongly made, or by reason of any other matter or thing except wilful and individual fraud or wrongdoing on the part of the Trustee who is sought to be made so liable.10.        No Trustee shall be liable for any loss to the Trust Fund arising by reason of the acquisition or retention by the Trustees, for however long a time and in whatever circumstances, of any shares or other securities of any private company provided always that the investment is reasonably prudent having regard to the trusts upon which the Trust Fund is held.


FOOTYMAD

Sponsored links