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Appendix B Searches

of 45

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£28
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Definitions
Appointor includes the initial appointor (the person or persons named as appointor in the
Schedule); and a person appointed as appointor in accordance with this deed.

Assets does not include distribution amounts that are immediately payable but are not yet paid,
whether or not they have been transferred to a distribution account.

Associate means what it means under the Corporations Act.

Beneficiary means a beneficiary named in the Schedule, or a member of a class of eligible
beneficiaries specified in the Schedule, or a person named as an additional beneficiary by the
trustee in accordance with clause 3.

Business day means Monday to Friday, except public holidays in the jurisdiction stated in the
Schedule.

Child includes an adoptive child.

Class of eligible beneficiaries means a class stated in the Schedule (except a class the trustee
has deleted under clause 4), and a class nominated by the trustee under clause 3. \

Clear days in relation to a period of notice, excludes the day the notice is given and the day it
becomes effective.

Financial year means the period from 1 July in a year to 30 June in the next year. It also means
the lesser period ending on 30 June after the date of this deed; and the period from 1 July until the
termination of the trust before 30 June of the next year.

Income for a given financial year, excludes any income for that year that the trustee has decided to
accumulate.

Income of the trust fund means, subject to clause 7, the net income of the trust as defined in
section 95(1) of the income Tax Assessment Act 1936 (Cth) (as amended).

Law includes a requirement under a law, and the rules of a stock exchange or other body with
whose rules the trustee must comply.

New trustee includes any remaining trustee.

Next of kin means a persons’ spouse or, if there is no spouse, those most closely related by blood
in equal degree.

Person includes an entity that is not a legal entity.
Perpetuity period means a period of 80 years from the date of this deed.

Spouse includes a person not legally married to a second person where that person is living with
the second person as his or her spouse on a permanent and bona fide domestic basis.

Tax means any type of tax, duty, charge, fee or other requirement imposed by a government or
government agency or authority of any type.

Trustee if there is more than one trustee at any time, then at that time ‘trustee’ means ‘trustees’.
Trust fund includes any income that has been accumulated or that has not been distributed.
Vesting day means the first to occur of:

the expiration of the perpetuity period; or

such earlier date that the trustee, with the consent of the appointor (if any) determines in writing.
Writing inctudes writing in electronic form.

17
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