Page 25 - Estate Planning Documents

iii) The Legal Personal Representative of the last remaining Appointor.
c) Where a person becomes a successor Appointor under this subclause, such persons
shall:
i) (Where there are 2 or more successor Appointors), act jointly; and
ii) Have all the powers otherwise vested in the Appointor as provided in this
clause.

35. Trustee Powers

The Trustee shall, in administering the Beneficiary Controlled Testamentary Trust, have the
powers provided in the Powers of Executors and Trustees Schedule.
36. Amendment of Terms of Trust

The Trustee may from time to time and subject to obtaining the written consent of the
Appointor alter, vary, revoke or add to the terms of the trust by written instrument, provided
that no amendment may:
a) Infringe any applicable law against perpetuities;
b) Affect the beneficial entitlement to any amount allocated for or otherwise absolutely
and irrevocably vested in any General Beneficiary prior to the date of amendment; or
c) Has the effect of delegating testamentary power or otherwise resulting in any
provision of my Will becoming void.

37. Vesting of the Trust

37.1 The trust shall vest on the earlier of:
a) The expiration of the later period of:
i) 80 years from the date of my death; or
ii) A maximum time permitted by law; or
b) Such other date as the Trustee, with the consent of the Appointor, may determine to
be the Vesting Date;
(“the Vesting Date”).

37.2 On the Vesting Date, the Trustee shall:
a) First, pay out or otherwise discharge or satisfy any debts and liabilities in relation to
the trust;
b) Second, distribute the whole of the remaining Net Income and capital of the trust in
favour of such General Beneficiaries as it may, in its absolute discretion determine;
and
c) Where more than one General Beneficiary is to receive any part of the remaining Net
Income and capital, that part may include the whole or part of any Net Income or
capital arising from an identified asset, category or source.

37.3 In default of any determination by the Trustee under the preceding subclause, the trust
together with any remaining Net Income shall be held by the Trustee upon trust:
a) For the Primary Beneficiaries absolutely who are alive on the Vesting Date and if more
than one as tenants in common in equal shares; unless

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