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Trust Deed
DEED OF TRUST
THIS DEED OF TRUST is made the 2nd day of August 1977 between
MARGARET ANNETAMBLYN of 13 Second Avenue Sefton Park in the State
of South Australia[,]Auxiliaries Organiser, for and on behalf of
the AUSTRALIAN INTERVARSITY CHORAL SOCIETIES'ASSOCIATION by virtue
of her position as President for the time being thereof and DAVID
ALAN GOODWIN of 8 Hampden Road, Artarmon in the State of New South
Wales, Orchestra Manager, for and on behalf of the Committee ofthe
Twenty-Sixth Intervarsity Choral Festival (herein together called
"the Settlors") of the first part and TIMOTHY ROBERT MASON of 13
Doney Street, Alfred Dovein the State of Western Australia,
Solicitor, and the said DAVID ALANGOODWIN (herein together called
"the Trustees") of the second part, and shall be known as "the
AICSA TRUST FUND".
WHEREAS:
- The AUSTRALIAN INTERVARSITY CHORAL SOCIETIES' ASSOCIATION
(hereinafter called "the Association") is constituted for the
following purposes:
- to encourage and promote cooperation between choral and musical
societies of Australian institutions of tertiary education
through:
- the regular publication of a newsletter;
- the holding of an annual Intervarsity Choral Festival;
- the maintenance of a catalogue of the Choral Music in the
possession of the Association and its constituent members; and
- meetings of the Australian Intervarsity Choral Council;
and
- to generally encourage and further the performance of, and
interest in choral music by Australian tertiary students, through
an interchange of ideas and music, and through the discussion of
mutual problems;
- By Clause 12.3 of the Constitution of the Association it is
provided that in each and every year the Association shall make a
grant of money on certain conditions for the purpose of supporting
financially the said Intervarsity Choral Festival (hereinafter
called "the Festival");
- In pursuance thereof a grant of money was made by the
Association to the Committee of the Twenty-Sixth Intervarsity
Choral Festival, which was held in Sydney in August of 1975;
- One of the conditions attaching to the said grant of money was
that, in the event of there being a surplus of income over
expenditure shown in the final statement of accounts of the
Festival, such surplus should be divided equally between the
Association and the said Committee of the Festival;
- The surplus of income over expenditure is revealed in the final
statement of account of the Twenty-Sixth Intervarsity Choral
Festival;
- The said Committee of the Twenty-Sixth Intervarsity Choral
Festival and the Association have mutually AGREED AND RESOLVED to
settle the sum of TEN DOLLARS ($10.00) upon the Trustees TO BE HELD
upon the Trusts hereinafter declared.
NOW THIS DEED WITNESSETH and in consideration of the premises
the Settlors HEREBY DIRECT and IT IS AGREED as follows:
- In this Deed the expression "the Trust Fund" shall mean and
include:
- the said sum of TEN DOLLARS ($10.00),
- all moneys property (whether real or personal) and effects at
any time or times hereafter bought or transferred by any person or
persons and accepted by the Trustees by way of addition or
accretion to the property hereby settled or otherwise acquired,
obtained received and retained by the Trustees subject to the
trusts of this Deed, and
- the investments moneys property properties or other assets from
time to time representing the said sum and assets or any of them or
any part of parts thereof or any accretion thereto or so much
thereof as shall from time to time remain subject to the trusts
hereof.
- The Trustees shall hold the Trust Fund upon trust to invest the
same in their discretion in any of the investments herein
authorised and generally may exercise in relation to any of such
investments any of the powers and discretions conferred upon them
by this Deed or by law and may from time to time at the like
discretion vary or transpose any investments into others of any
nature hereby authorised and all such investments shall be held in
the trusts declared in this Deed with and subject to the powers and
provisions herein contained.
- Subject as aforesaid the Trustees shall hold the Trust Fund and
all income thereof upon the trusts and subject to the powers and
provisions following, namely:
- To apply so much of the income thereof as may seem to the
Trustees in their absolute discretion necessary or beneficial, for
the purpose of making a grant orgrants of money on such conditions
as the Trustees may in their absolute discretion see fit
(hereinafter called "the amount available") to be paid to the
ExecutiveCommittee for the time being of the Association for the
sole purpose of providing a financial contribution towards the
Festival in each year in which the same is held;
- In the event of the Association being dissolved, to apply the
amount available for the purpose of providing a financial
contribution towards the Festival in each year in which the same is
held in whatever manner may seem to the Trustees in their absolute
discretion to be most desirable; and,
- If the Trustees shall consider that the Festival has ceased to
be held or that, in their opinion, the Festival no longer fulfils
the objects of encouraging and promoting cooperation between the
choral and musical societies of Australian institutions of tertiary
education, then to apply the amount available towards such other of
the said objects of the Association as are charitable purposes as
defined by the Charitable Trusts Act (W.A.) 1962 or, in the event
of the Association having been dissolved, towards such other
objects as seem to the Trustees in their absolute discretion to be
deserving of consideration, PROVIDED THAT such objects shall be
charitable as aforesaid.
- The Perpetuity Period applicable to the dispositions contained
in this deed shall be the period of eighty (80) years commencing on
the date hereof, and on the last day thereof the Trustees shall
hold the Trust Fund for such one or more institutions, bodies,
organisations, objects or purposes asare charitable as aforesaid in
such shares and proportions and upon such trusts and conditions as
the Trustees think fit.
- The statutory power of appointment of a new Trustee or new
Trustees of these present is vested in the Council of the
Association or, in the event of the Association being dissolved, in
the surviving Trustee of these presents and shall be such person or
persons as that body or Trustee shall by Deed or Will appoint and
in the exercise of any suchpower the body or person in whom such
power shall rest may appoint any person or persons to be a Trustee
or Trustees hereof.
- The Trustees may take and act upon the opinion of any Queen's
or King's Council practicing in the Supreme Court in the State of
Western Australia (obtained at the expense of the Trust Fund)
whether in relation to the interpretation of this Deed or any other
document or statute or as to the administration of the Trusts
hereof without being liable to anyone in respect of any act doneby
it in accordance with any such opinion PROVIDED THAT the Trustees
shall not be obliged to act inaccordance with any such opinion and
shall not be prohibited from applying to the said court as it
thinks fit.
- The Trustees may invest the Trust Fund or any part thereof in
any investment authorised by the trustees Act (W.A. ) 1962 and
without limitation IT IS EXPRESSLY DECLARED that they may invest as
authorised by sub-sections (l) (2) and (3) of Section 16 of the
said Act and in so doing the provisions of sub-section (4) to (8)
inclusive of that Section shall not apply, PROVIDED THAT the power
of investment in stocks and shares on the Stock Exchange contained
in Section 16 (1) (k) of the said Act shall not be exercised by the
Trustees.
- In addition to the powers stated in the previous clause the
Trustees may invest in the purchase of estates in fee simple in
real estate situate within the Commonwealth of Australia or any
undivided share in any such States, or to borrow, raise or concur
in raising from any person including a Trustee or Trustees hereof
with or without security any money which the Trustees think fit for
any purpose by mortgaging or charging all or any part of the Trust
Fund.
- If at any time any association is incorporated pursuant to the
Associations Incorporation Act (W.A.) 1895 as amended or the
equivalent legislation of any State or of the Commonwealth or if
any company limited by Guarantee is incorporated pursuant to the
Companies Act (W.A.) 1961 as amended or the equivalent legislation
of any State or of the Commonwealth and PROVIDED THAT in either
case the objects of such association or company are substantially
the same as those of the Association as at the date hereof, then
the Trustee shall be at liberty, in their absolute discretion, to
transfer or raise and pay or appropriate the whole or any part pr
parts of the Trust Fund to that association or company for its
absolute use and benefit discharged from all the trusts of this
Deed and this power shall be in addition to the other powers and
discretions of the Trustees hereunder and shall not in any way
limit or affect any other powers or discretions herein
contained.
- While purporting to act in the execution of the trusts and
powers hereof no Trustee shall be liable for any loss not
attributable to his or her own wilful neglect or dishonesty or to
the wilful commission by him or her of any act known by him or her
to be a breach of trust and in particular he or she shall not be
bound to take any proceedings against a co-trustee for any breach
or alleged breach of trust committed by such co-trustee.
- Any Trustee being a Solicitor Accountant or other person
engaged in any profession or business may be employed to act and
shall be entitled to charge and be paid all professional and other
charges for any business or act done by him or his firm in
connection with the trusts hereof including acts which a Trustee
could have done personally and any Trustee being a Solicitor
Accountant or other person engaged in any profession or business
may be so employed or act and shall be entitled to charge and be
paid all professional and other charges for any business or act
done by him or his firm in connection with the trusts hereof
including acts which a Trustee could have done personally.
- The Trusts referred to herein shall take effect and commence on
and as form the date hereof.
- This Deed and the trusts thereof shall be governed by the laws
ofthe State of Western Australia.
- Every reference in this Deed to "the Trustees" shall where the
context permits include the Trustees or trustee for the time being
hereof.
IN WITNESS whereof the parties hereto have executed this Deed
the day and year first herein before written.
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