2014-11-20 Noosa Biosphere Management Arrangements - Trust Deed - Attachment 1

12.2    Financial statements

        As soon as practicable after the end of each Financial Year the Trustee must prepare or cause to
        be prepared a financial statement showing the financial position of the Trust Fund at the end of
        that Financial Year.

12.3    Audit

        If required by law to be audited, the financial statements of the Trust Fund must be audited by a
        person registered, or taken to be registered as an auditor under part 9.2 Corporations Act.

12.4    Receipts

        Receipts issued for gifts must state:

        (a)       the name of the Trust Fund;

        (b)       the Australian Business Number applicable to the Trust; and

        (c)       the fact that the receipt is for a gift.


13      Advisory Committees

        (a)       The Trustee may establish Advisory Committees and appoint and remove, or make
                  provision for the appointment and removal of, members of the Advisory Committee.

        (b)       Each Advisory Committee may consist of a single individual or the number of individuals
                  that the Trustee decides.

        (c)       The functions of each Advisory Committee will be decided by the Trustee and, subject to
                  the Trustee’s decision, may, for example, advise the Trustee on certain environmental
                  issues connected with the Noosa Biosphere Reserve or how payments or applications of
                  income and capital should be made under clause 4.2.

        (d)       The Trustee may specify:

                  (i)      the manner in which proceedings of each Advisory Committee are to be
                           conducted;

                  (ii)     the matters which the Advisory Committee must have regard to in carrying out its
                           functions; and

                  (iii)    any other matters concerning the Advisory Committee or its functions that the
                           Trustee decides.

        (e)       To avoid any doubt, it is declared that the Trustee may appoint a single individual to act
                  as an Advisory Committee.


14      Patrons

        The Trustee may appoint any persons it thinks fit as patrons of the Trust.




30672865v4    |     Noosa Biosphere Reserve Trust                                                          11