Appendix B Searches

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H Variation and termination of the trust

Trustee may vary this deed

54 ___The trustee may vary this deed at any time before the vesting day, even to the extent of
revoking all the trusts it establishes, but only with the consent of the appointor. The
trustee must do so by executing another deed. That deed may reserve this power of
variation. :

Variation not to cause vesting after vesting day

55 The trustee may not vary this deed in a way that causes any part of the trust fund to vest
after the vesting day.

Variation not to allow benefit to trustee

56 The trustee may not vary clauses 34 or 38.

Time variation takes effect : '
57 A variation takes effect on the date specified in the deed. If no date is specified, it takes

effect on the date of the deed: ~ ~
Altering termination date

58 _ The trust terminates 80 years after the date of this deed. It terminates at an earlier date if
the trustee, with the appointor’s consent, decides that in the interests of beneficiaries it
should terminate at a specified earlier date.

-Retained amounts

59 The trustee must hold any retained amounts on trust for the beneficiaries in accordance
with their entitlements at the time of termination of this deed.

Power to postpone sale

60 The trustee may postpone the realisation of any asset for any period the trustee thinks
desirable.

I Miscellaneous

Decisions by the trustee

61 The trustee may exercise a power or discretion by a resolution of the trustee or of its
director. The exercise of the power or discretion must be evidenced.

Statements and accounts

62. The trustee must establish and maintain proper books of account which accurately reflect
all receipts and outgoings of the trust. The trustee may separately record all income and
capital of different categories or classes referred to in this deed.

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