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

4       Purposes

4.1     Trust Purposes

        The purposes of the Trust are protecting and enhancing the natural environment by:

        (a)       advancing the conservation and enhancement of natural ecosystems and biodiversity of
                  the Noosa Biosphere Reserve;

        (b)       advancing environmental research, education and information related to the Noosa
                  Biosphere Reserve;

        (c)       fostering economic and human development that is environmentally and socially
                  sustainable and culturally appropriate;

        (d)       developing and implementing a management plan for the Noosa Biosphere Reserve that
                  is aligned with UNESCO Man and the Biosphere Program and Australian Biosphere
                  Reserve Management Principles; and

        (e)       monitoring performance of the Noosa Biosphere Reserve and reporting to UNESCO and
                  the Noosa community; and

        (f)       protecting and managing the Property of the Trust.

4.2     Application of income and capital

        The Trustee must hold the Trust Fund on trust to pay or apply the income and, if and so far as it
        thinks fit, all or any part of the capital of the Trust Fund for the purpose of providing money,
        Property or benefits towards the advancement of the Trust Purposes.

4.3     Factors Trustee may consider

        In exercising its discretions under clause 4.2, but subject to the Trust Purposes, the Trustee may
        have regard to:

        (a)       any recommendations of an Advisory Committee; and

        (b)       the provisions and objects, so far as they are consistent with the Trust Purposes, of any
                  other trust (including a trust established by a testamentary instrument) where:

                  (i)      the capital of that other trust has been transferred to or otherwise vested in the
                           Trustee to hold on the trusts of this deed; and

                  (ii)     the trustee of the other trust has requested the Trustee to recognise the
                           provisions or objects of the other trust in exercising the Trustee’s discretions and
                           powers under this deed.

4.4     Policies and rules

        For the purpose of paying or applying the income or capital, the Trustee may:

        (a)       formulate policies;

        (b)       make rules in connection with a policy; and

        (c)       revoke or amend a policy or rule and formulate others.




30672865v4    |     Noosa Biosphere Reserve Trust                                                               6