Appendix B Searches

 

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trustee’s power to make such a decision under this clause 12 is unconfined and not
merely administrative. The trustee’s decision is final.

Allocation of income or capital of a category

13 The trustee may decide that income of a financial year, or capital which is distributed or
accumulated under this deed, is the whole or part of the income or capital of a category.
The trustee’s power to make such a decision under this clause 13 is unconfined and not
merely administrative. The resuit is that all or part of that income or capital is specifically
or separately allocated and identified in a distribution or accumulation.

Allocation of expenses

14 The trustee may decide to allocate expenses and outgoings, at the trustee’s discretion, to
income or capital of any one or more categories. The trustee's power to make such a
decision under this clause 14 is unconfined and not merely administrative, and inctudes
allocating the expenses and outgoings in one or more of the following ways:

* against income which is not income of a category;

‘* against income of a category to which a tax credit, rebate or exemption does not
attach;

¢ against other income.

Distributed income and capital remain in categories

15 Income or capital to which a beneficiary becomes entitled and which can be identified as
being of a category remains of that category after the beneficiary becomes entitled to it,
and after it is passed to or received by the beneficiary.

Method of distribution

16 ’ The trustee may distribute an amount to a beneficiary under this deed in any one or more
of the following ways:

with the beneficiary's consent, by placing the amount to the credit of the
beneficiary in a 24 hour call account;

e by drawing a cheque for the amount payable to the beneficiary or paying the
amount into a bank account in the name of beneficiary;

¢ — by paying the amount by cheque or in cash to a third person as directed by the
beneficiary;

e by Satisfying any amount owed by the beneficiary to a third person;

e by applying any part of the amount towards satisfaction of money owing by the
beneficiary to the trustee on any account or owing to any other person;

¢ _ by transferring any of the assets of the fund in specie to the beneficiary;

e by setting the amount aside in a separate account in the books of the trust in the
name of the beneficiary, in which case the amount shail be held on a separate
trust for such beneficiary or if so determined in writing by the trustee, as an
amount owed to the beneficiary as an interest free debt at call.