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

6       Determinations to be recorded

6.1     Determinations to be in writing

        Any decision of the Trustee under clause 4.2 must be recorded in written minutes signed by the
        Trustee or, where the Trustee is a company, in written minutes recording a resolution of a
        majority of the directors and signed in the manner provided by its constitution.

6.2     Once recorded, decisions are irrevocable

        Once a decision made under clause 4.2 has been recorded under clause 6.1, it is irrevocable with
        respect to the income and the capital to which it relates.


7       Power to make conditional decision

        The Trustee:

        (a)       may make a decision under clause 4.2 conditional on the beneficiary using the income or
                  capital the subject of the decision for a particular purpose, project or activity; and

        (b)       is not obliged to distribute the income or the capital the subject of the conditional
                  decision to the beneficiary if the Trustee is not satisfied that the beneficiary will use the
                  income or capital for the specified purpose, project or activity.


8       Trustee

8.1     Sole trustee a body corporate

        At all times, the sole trustee of the Trust must be a body corporate, of which the majority of
        directors are Publicly Responsible Persons.

8.2     Retirement and appointment of a new Trustee

        The Trustee may at any time retire and appoint a new Trustee.

8.3     This deed prevails

        If there is any inconsistency between the provisions of this deed and the constitution of the
        Trustee, this deed prevails.


9       Trustee’s powers

9.1     Investment

        The Trustee must invest money of the Trust Fund only in a way in which trustees are permitted
        to invest under the laws of Australia or of any State or Territory of Australia.

9.2     Other powers

        The Trustee may:

        (a)       change an investment for any others or vary the terms and conditions on which an
                  investment is held;




30672865v4    |     Noosa Biosphere Reserve Trust                                                                 8