1 RETURNED AND SERVICES LEAGUE OF AUSTRALIA A.C.T. BRANCH INCORPORATED BY-LAWS APPROVED AT EXTRAORDINARY BRANCH CONGRESS JUNE 2003
2 BY-LAWS 7 AND 10 AMENDED OCTOBER 2003 BY-LAW 2 AMENDED FEBRUARY 2005 BY-LAWS 1 AND 2 AMENDED JUNE 2005 BY-LAW 5 AMENDED APRIL 2010 Branch Secretary REPLACED BY Chief Executive Officer JULY 2010 BY-LAW 7 AMENDED AUGUST 2010 BY-LAW 7 AMENDED NOVEMBER 2011 BY-LAW 7 AMENDED MAY 2012
3 INDEX Page BY-LAW NO. 1 - LEAGUE AWARDS FOR SERVICE... 4 LIFE MEMBERS... 4 MERITORIOUS MEDAL... 4 SPECIAL SERVICE AWARD... 5 CERTIFICATE OF MERIT AND GOLD BADGES... 5 CERTIFICATE OF OUTSTANDING SERVICE... 5 CERTIFICATE OF APPRECIATION... 5 PRESENTATION COSTS... 5 BY-LAW NO 2. - MEMBERSHIP FORMS... 7 BY-LAW NO 3 - SUB-BRANCHES: CONSTITUTION BY-LAW NO 4 - SPECIAL RESOLUTIONS BY-LAW NO 5 - DELEGATION OF POWERS AND RESPONSIBILITY BY BRANCH COUNCIL DELEGATION TO BRANCH EXECUTIVE FINANCIAL DELEGATION TO CERTAIN OFFICERS RESPONSIBILITIES OF THE BRANCH EXECUTIVE BY-LAW NO 6 - NOMINATION AND ELECTION: BRANCH EXECUTIVE BY-LAW NO 7 - TRUSTEES - POWERS AND RESPONSIBILITIES GENERAL OBJECTS TRUST PROPERTY THE TRUSTEES DUTIES OF THE TRUSTEES BOARD MEETINGS BANKING INVESTMENTS EVIDENCE... 21
4 AMENDMENT REVOCATION DEED OF DECLARATION OF TRUST BY-LAW NO 8 - WOMEN'S AUXILIARIES BY-LAW NO 9 - CONDUCT OF PUBLIC APPEALS: REIMBURSEMENT OF EXPENSES.. 30 PURPOSE AUTHORISED EXPENDITURE - LIMITS POST AND TELEPHONE EXPENSES BY-LAW NO AFFILIATES BY-LAW NO.11 STANDING ORDERS FOR THE CONDUCT OF BRANCH MEETINGS.. 33 BY-LAW NO 12 FORM OF PROXY... 36
5 4 BY-LAW No. 1 - LEAGUE AWARDS FOR SERVICE (PARAGRAPHS 9.3 & 9.4) LIFE MEMBERS 1. The Branch Executive or a Sub-Branch may nominate a Service Member for election to the class of Life Member of the League but any member so nominated shall, except in exceptional circumstances, have been a Service Member for at least fifteen continuous years and shall have rendered not less than ten years outstanding service to the League. 2. The Branch Chief Executive Officer will forward any valid nomination, together with appropriate comments and recommendations to the National Executive for its further action. 3. In any one financial year the Branch nominations to the National Executive shall not exceed such number as is determined from time to time by the National Executive. 4. If a Service Member is proposed for Life Membership by a Sub-Branch that Sub-Branch shall pay to the Branch such fees as the Branch shall determine from time to time. 5. If a Service Member is proposed for Life Membership by the Branch Executive the Life Membership fee shall be borne by the Branch. 6. For the purposes of this By-Law, service as a member of a Women's Auxiliary, prior to the member becoming a Service Member of the League, may be taken into account. MERITORIOUS MEDAL 7. The Branch Executive or a Sub-Branch may nominate a Life Member for the award of Meritorious Medal, but any member so nominated shall, except in exceptional circumstances, have been a member continuously for a period of not less than thirty years and shall have rendered not less than twenty-five years outstanding service to the League. 8. The Branch Chief Executive Officer will forward any valid nomination, together with appropriate comments and recommendations to the National Executive for its further action. 9. In any one financial year the Branch nominations to the National Executive shall not exceed such number as is determined from time to time by the National Executive. 10. For the purposes of this By-Law, service as a member of a Women's Auxiliary, prior to the member becoming a Service Member of the League, may be taken into account.
6 SPECIAL SERVICE AWARD A Service or Life Member who has given not less than fifty years continuous service as a member of the League may be granted a Special Service Award in respect of such service. 12. The Branch Executive or a Sub-Branch may propose any member within its jurisdiction to the National Executive for its further action. 13. Where part of the member's service had been within the jurisdiction of another State Branch it shall be the responsibility of the proposing Branch to obtain evidence of continuous service for the total period. 14. A member of a women's auxiliary may qualify for this award and also a member who was a member of a women's auxiliary prior to becoming a member of the League. CERTIFICATE OF MERIT AND GOLD BADGES 15. The highest award that may be made by the League to a person who is not a member of the League is a Certificate of Merit and Gold Badge. The Branch Executive or a Sub-Branch may nominate a person for this award if in its opinion such person has rendered outstanding service to the League or to ex-service men and women or their dependants. CERTIFICATE OF OUTSTANDING SERVICE 16. The highest award that may be made by the League to any corporation, company, association, society or other body (not being a natural person) is a Certificate of Outstanding Service. 17. The Branch Executive or a Sub-Branch may nominate an organisation for this award if in its opinion such organisation has rendered outstanding service to the League for a period of not less than twenty five years. CERTIFICATE OF APPRECIATION 18. The award of a Certificate of Appreciation may be made by the League to a corporation or other association or to an individual person who may be a member or a non member of the League. 19. The Branch Executive or a Sub-Branch may nominate a corporation, other association or an individual person or persons for this award if in its opinion that corporation, association or person has rendered services to the League worthy of special recognition. PRESENTATION COSTS 20. If the award for Life Membership, Meritorious Medal, Special Service Award, Certificate of Merit and Gold Badge, Certificate of Outstanding Service or Certificate of Appreciation is proposed by a Sub-Branch, that Sub-Branch shall be responsible for
7 6 all costs relating to the production of certificates, badges and medals referred to in this By-Law. 21. If the award for Life Membership, Meritorious Medal, Special Service Award, Certificate of Merit and Gold Badge, Certificate of Outstanding Service or Certificate of Appreciation is proposed by the Branch Executive, the Branch shall be responsible for all costs relating to the production of certificates, badges and medals referred to in this By-Law. 22. National Headquarters is to be invited to pay to Branch the appropriate fee when appointing a Life Member or awarding a meritorious medal to a member of the ACT Branch, on National Headquarters' initiative.
8 7 BY-LAW No 2. - MEMBERSHIP FORMS (PARAGRAPHS 10.2 AND 11.6) 1. Application for Service Membership of the League as a member of a Sub- Branch or as a member of the Branch shall be on the form at Annexure A. 2. Where a member wishes to transfer membership from one State Branch/Sub- Branch to another the request for transfer shall be in the form at Annexure B. 3. In the event that the prescribed forms referred to in paragraphs 1 or 2 are in any way amended by the National Executive, Annexures A or B shall be replaced by the Branch Chief Executive Officer and such replacement shall be deemed not to be an amendment of this By-Law.
12 11 BY-LAW No 3 - SUB-BRANCHES: CONSTITUTION (PARAGRAPHS 16.4 AND 16.5) 1. Every Sub-Branch shall adopt its own Constitution, by whatever name called, to provide for its operation, and for the implementation of the objects of the League within its jurisdiction. Although it is not obligatory to adopt it, the Branch has developed a model Constitution which, on application, will be made available to any Sub-Branch for consideration of adoption, wholly or in part. 2. Whether or not a Sub-Branch adopts the model, every Constitution of a Sub- Branch shall make provision for the following: a. objects, which must not be inconsistent with the objects of the League and the Branch, but which are directed primarily at the promotion and advancement of the well being of ex-service men and women and their dependants, including the dependants of deceased ex-service men and women, and currently serving service men and women; b. express provision that the income and property of the Sub-Branch shall be applied solely towards the promotion of the objects of the Sub- Branch and that no portion shall be paid or transferred directly or indirectly by dividend, bonus or otherwise to any member of the Sub- Branch; c. winding up provisions which must provide that any surplus assets are to become the property of the Branch; d. the appointment of a Committee, and of delegates to Branch Council and to Branch Congress; e. the appointment of a member to be responsible for collection of subscriptions and the lodging of capitation returns and fees at Branch Headquarters; f. the holding of an Annual General Meeting, regular meetings and such committee meetings as are necessary for the due administration of the Sub-Branch.
13 12 BY-LAW No 4 - SPECIAL RESOLUTIONS (PARAGRAPH 34) 1. A special resolution may only be dealt with by a meeting of Branch Congress either by way of the Annual Branch Congress or an Extraordinary Branch Congress. Notice of any special resolution shall be given by the Branch Chief Executive Officer to every person entitled to receive notice of a meeting of Congress at least twenty one days prior to that meeting. 2. A special resolution shall not be carried unless it is passed by a majority of three fourths of the members present and entitled to vote at the meeting.
14 13 BY-LAW No 5 - DELEGATION OF POWERS AND RESPONSIBILITY BY BRANCH COUNCIL (PARAGRAPH 18) DELEGATION TO BRANCH EXECUTIVE 1. In addition to the general delegation of powers conferred by paragraph 19.2 of the Constitution and subject to the limitations reserved by paragraphs and 18.1 g., the Branch Executive shall have power to: a. review applications for membership pursuant to paragraph 10.8 and 10.10; b. determine Branch policy on local issues which may arise between meetings of Branch Council and, where appropriate and necessary, issue statements to the media in the name of the Branch Executive on such policy; c. convene casual committees for the purpose of taking specific action to implement Branch policy; and d. pay accounts from Branch funds up to one thousand dollars without prior approval of Branch Council but all such payments shall be subject to the concurrence of the Council pursuant to paragraph 29.3 of the Constitution. FINANCIAL DELEGATION TO CERTAIN OFFICERS 2. Authority is hereby delegated to the Branch President, Branch Chief Executive Officer and Branch Treasurer to authorise payments from Branch funds up to the amounts of five thousand dollars, five thousand dollars and five thousand dollars respectively. Any expenditure in excess of these limits shall be made only with the prior approval of the Branch Council. 3. The foregoing provisions do not apply to expenditure for routine accounts such as stationery, postage and freight, telephone, travel and for the bulk purchases of appeal items such as ANZAC pins and poppies. Such expenditure must be advised to the next Branch Council after the expenditure has been incurred.. RESPONSIBILITIES OF THE BRANCH EXECUTIVE 4. The Branch Executive shall be responsible for: a. The detailed planning for development of the Branch to the limit of the potential of the Branch Territory and to identify and encourage persons resident therein to become members of the League. b. The implementation of approved plans for Branch development. c. The detailed planning for raising and management of Branch finances having due regard to the financial needs of the Branch's sponsored charitable works.
15 14 d. The implementation of approved plans for raising and management of Branch finances. e. The detailed planning for improvement to Repatriation and Veterans' rights and entitlements, welfare rights and entitlements, and benefits stemming from the Defence Services Homes Act, the DFRDB and Superannuation Acts, which are to the benefit of eligible members of the Branch. f. The implementation of approved plans relating to repatriation and welfare. g. The detailed research and development of Branch policy on matters of local and national importance to members of the League. h. The preparation and presentation of approved papers on national issues to other State Branches and the National Executive where applicable. i. The preparation and presentation to local authorities, directly or through the media, of approved papers on local issues. j. The establishment as necessary of standing committees of the Branch to carry out the provisions of paragraph 18.1c of the Constitution and any other relevant issues affecting the Branch and to make appointments to those standing committees.
16 15 BY-LAW No 6 - NOMINATION AND ELECTION: BRANCH EXECUTIVE (PARAGRAPH 21) 1. Nomination for election as a member of the Branch Executive shall be submitted in the form specified in Annexure A to this By-Law. 2. Where a person nominates for more than one office, separate nominations shall be submitted in respect of each office. 3. Nominations may only be made by persons who are financial members of the Branch and accepted by and in respect of a person who is a financial member and who is not an appointed officer of the Branch in receipt of remuneration from such office. 4. Nominations shall be sent or delivered to the Returning Officer at Branch Headquarters and shall be lodged by such date and time as may be agreed by the Branch Council, being not less than seven calendar days prior to the date of the Branch Council Meeting prior to the Branch Annual Congress. 5. On receipt of a nomination, the Returning Officer shall cause a check to be made to verify that: a. the proposer, seconder, and nominee are financial members; b. the nomination form has been completed fully and correctly; and c. the nominee is not otherwise ineligible. 6. Where any detail is found to be incomplete or incorrect the Returning Officer shall pass the nomination form to the Branch Chief Executive Officer who shall take all practicable steps to notify the nominee of the detail which is considered to be incomplete or incorrect or the reason whereby the nominee is considered to be ineligible. 7. Nothing in paragraph 6 shall prevent the sending or delivering of a corrected or further nomination to the Returning Officer prior to the date and time specified in paragraph The Branch Chief Executive Officer shall prepare a schedule of nominees for election and shall provide a copy of the schedule to members of the Branch Council prior to the meeting. 9. Reserved. 10. The Returning Officer shall ensure that ballot papers are prepared in respect of each office which is contested. Such ballot papers shall contain the following information: a. the office in respect of which an election is being held; and b. the full names of the candidates printed in alphabetical order.
17 The Branch Chief Executive Officer shall ensure that a ballot paper in respect of each office which is contested is provided to each member of the Branch Council. 12. The system of voting to apply shall be the optional preference system. 13. The Returning Officer shall count the votes during the course of the meeting. 14. Upon completion of the counting of the votes, the Returning Officer shall notify the Branch Chief Executive Officer of: a. the result of the elections; b. the number of primary votes gained by each candidate; and c. the allocation of preferences where such allocation was necessary and was made. 15. The ballot papers shall be retained by the Returning Officer until the conclusion of the Branch Council Meeting, and thereafter shall be destroyed. 16. Positions resulting from the election shall take effect immediately following the closure of the next Branch Annual Congress. 17. Where a candidate considers there are grounds for appeal against the result of the election an appeal may be made in writing and lodged with the Branch Chief Executive Officer, during the next following fourteen days and shall be considered and decided at the next meeting of the Branch Council. The decision of the Branch Council shall be final.
18 17 ANNEXURE A TO BY-LAW No.6 RETURNED AND SERVICES LEAGUE OF AUSTRALIA A.C.T. BRANCH INCORPORATED ABN NOMINATION FOR BRANCH ELECTION NOTE: Nominee, proposer and seconder MUST be financial members of the Branch. Full Name of Nominee... Office nominated for... I accept nomination for the above position. Signature... Date... PROPOSER Full Name of Proposer... Signature... Date... SECONDER Full Name of Seconder... Signature... Date...
19 18 BY-LAW No 7 - TRUSTEES - POWERS AND RESPONSIBILITIES (PARAGRAPH 31) GENERAL 1. A Board of Trustees (herein referred to as the Board) shall be established which shall comprise: a. a minimum of three trustees who shall be appointed by a Branch Congress; and b. the Branch President and Branch Treasurer, ex-officio. 2. In any decision taken by the Board, the trustees and the ex-officio members shall have an equal vote and, if necessary, the Chairperson shall have a second or casting vote. 3. The Board shall administer and manage the following funds established by the Branch: OBJECTS a. the Appeals Patriotic Fund; b. the Distress Fund; and c. other Funds as the Branch Council or Branch Executive may establish. 3. The objects of the several Trust Funds are set out in the respective Trust Deeds annexed hereto. TRUST PROPERTY 5. The property of each Trust shall consist of: a. the moneys standing to the credit of the Trust in any Bank or Building Society or Credit Union; b. such other moneys or gifts as may be received and accepted by the Trusts either from the Branch or from any other organisation, person or corporation to be held in trust in accordance with the respective Trusts and the provisions of this By-Law; c. the income of funds invested by the Trust; and d. such other property as may be now held or later acquired by the Trust for the purposes of the Trust.
20 THE TRUSTEES Each trust established by the Branch shall be administered in accordance with this By-Law by the Board. The first Trustees of each Trust shall be those members appointed under the relevant Trust Deed, and any succeeding trustees shall be appointed by the Branch Congress, except that any trustee required to fill a casual vacancy shall be appointed by the Branch Council. 7. To be eligible for appointment as a trustee, a person must, at the time of appointment, be a financial member of the Branch, and ordinarily resident in the Australian Capital Territory or within eighty kilometres of Parliament House, Canberra. 8. The appointment shall be for such term not exceeding five years as the Branch Congress may determine when making the appointment. At the end of any term a trustee may be re-appointed. 9. The appointment shall be in writing signed by two members of the Branch Executive, or under seal of the Branch, and shall contain a consent to appointment signed by the appointee. 10. The Board shall appoint from amongst its members a trustee, other than the Branch President or Branch Treasurer, as Chairperson of the Board during the term of office of that trustee. In the absence of the Chairperson from any meeting the trustees may appoint an Acting Chairperson for such meeting. 11. A person appointed as a trustee shall cease to hold office on any of the following events: a. the expiry of the term of office, b. on the death of that person, c. on resignation in writing given to the Branch Chief Executive Officer, d. upon compliance with paragraph 32 where the Trust is revoked, or e. if the appointment is determined by the Branch Council. 12. The Branch Council may, in an appropriate case and after giving an appointee an opportunity of being heard, determine the appointment of a trustee where: a. the Trustee has ceased to be a financial member of the Branch or ordinarily resident as defined in paragraph 7; b. the Trustee has for any reason become unable to exercise efficiently the powers of a Trustee; or c. in the opinion of the Branch Council, on account of ill health, misconduct, negligence, or any other reason it is not desirable that the Trustee continue to hold the office of Trustee.
21 A Trustee shall not be entitled to any remuneration in respect of the exercise of the office, but the Branch Executive may authorise a payment from the Trust Funds to a Trustee by way of reimbursement for expenses reasonably and properly incurred in the exercise of the office. DUTIES OF THE TRUSTEES 14. Subject to this By-Law, the Board shall hold the trust property of each Trust in trust for the Branch and apply the same towards the objects set out in the respective Trust Deed. 15. The application, grant or other disbursement of any trust funds under its control may only be exercised by the Board by way of making a recommendation to the Branch Executive that such trust moneys should be so applied, granted or disbursed. The Branch Executive is accountable to the Branch Council in accordance with the By-Laws for any decision made following the consideration of any recommendation made by the Board. 16. Before making any recommendation to the Branch Executive for the disbursement of Trust Funds, the Board shall determine the amount to be applied, the work, if any, to be undertaken by any trustee, whether the services should be provided by grant or loan and the amount, if any, which should be recovered from the applicant, or from the relatives or estate of the applicant. 17. The procedure for applications to the Board for assistance shall be determined by the Board which may require applications and/or undertakings to be in writing. BOARD MEETINGS 18. Meetings of the Board shall be held whenever required, but at least in March and September. A meeting may be convened by the Chairperson, or any two Trustees or ex-officio members. 19. At a meeting of the Board, a quorum shall be three members of the Board but shall include two Trustees. 19A. The Chairperson of the Board shall personally present a written report to the meeting of the Branch Council immediately following a meeting of the Board. As a minimum, the report to the Branch Council shall include: a. advice on the financial position and viability of the various trust accounts; b. recommended changes to, or withdrawals from, any of the Trust Accounts administered by the Trustees; and c. recommendations or proposals for expenditure on welfare related matters or activities.
22 BANKING The moneys of any Trust, not available for investment, shall be held in an account with a Bank, Building Society or Credit Union in the Australian Capital Territory, as approved by the Branch Executive. Such account shall be operated by any two of the Trustees or ex-officio members. INVESTMENTS 21. The moneys of the Trust available for investment shall, having regard to the amount involved and the prospective calls for assistance, be invested by the Board in one or more investments authorised under the Trustees Ordinance 1957, for the investment of trust funds, provided that no money shall be invested for a term longer than twenty-four months, unless such investments may be withdrawn by giving no more than three months notice to withdraw the funds. ANNUAL REPORT OF ACCOUNTS AND AUDIT 22. The Board shall keep proper records of its activities and proper accounts of receipts and payments and financial transactions. 23. On or before the last day of May in each year, the Board shall submit to the Branch Executive, in respect of the preceding financial year, an annual report of the activities of the Board and a financial statement and report showing receipts and payments, assets and liabilities. 24. The Board shall furnish to the Branch Auditor such information, including records, as may be reasonably required for the purposes of audit. 25. The records of the Board shall be available at reasonable times for inspection by the Branch Executive or by any member appointed by the Branch Executive. EVIDENCE 26. A document signed by the Chairperson of the Board or by any two Trustees or one Trustee and an ex-officio member recording a decision or resolution of the Board is prima facie evidence of that decision or resolution. AMENDMENT 27. Subject to paragraphs 28 and 29, this By-Law may be amended by a resolution passed at a meeting of the Branch Council and consented to by a majority of the Trustees. 28. No amendment shall be made to the objects of any Trust which may adversely affect any taxation concession relating to gifts to that Trust. 29. No amendment shall be made so as to impose any additional obligation on a Trustee who does not consent to such amendment.
23 REVOCATION The Trusts created under this By-Law and the Deeds associated with it may be revoked by a resolution of the Branch Executive. 31. Upon notice of any such revocation by the Branch Executive, the Board shall, as soon as practicable, pay to the Branch any moneys held by the Board, and deliver to the Branch all other assets and all papers, account books, minutes of meetings and other records of the Board, and the Branch shall be responsible for the discharge of any debts or liabilities properly incurred by the Board in the administration of the Trust. 32. Upon compliance with the provisions of paragraph 31, the Trustees shall, except as provided in paragraph 33, cease to hold office but each Trustee shall continue to have such access to the records of the Trust as will enable that Trustee to explain any question relating to the administration of the Trust, or to the Trustee's participation in the administration. 33. The Branch may, in the names of the Trustees, institute in any court of competent jurisdiction such proceedings to recover moneys or damages or to enforce obligations as might have been instituted by the Board, and may continue or compromise such proceedings as the Board thinks fit. The Trustees shall, for these purposes, sign all such authorities and other instruments as may be reasonably required by the Branch. The costs of any such proceedings shall be borne by the Branch. THIS DEED between: DEED OF DECLARATION OF TRUST a. The Returned and Services League of Australia, A.C.T. Branch Incorporated, an association incorporated in the Australian Capital Territory under the ACT Associations Incorporation Act 1991 as amended (hereinafter called "the Branch"); and b. WITNESSES: (All hereinafter called "the Trustees") 1. That the Branch that has appointed the Trustees and each of them as Trustees of the Trust defined in the Schedule hereto for a term defined in the Schedule to hold the funds and property of the Trust and to apply the same towards the objects in the Schedule. 2. The Trustees hereby accept the appointments and the office of the Trustees and agree to hold the said funds and any other Trust property in trust to apply in accordance with the trust set out in this deed and with By-Law No. 7 of the Branch.
24 23 NAME THE SCHEDULE 1. "The Trust" means the Returned and Services League of Australia, A.C.T. Branch Incorporated, Appeals Patriotic and Distress Trust Funds (RSL Appeals Patriotic and Distress Trust Funds ABN ) 2. The objects of the Trust are as follows: GENERAL OBJECTS CLAUSE a. To apply such moneys, either as a gift or loan, to provide a complete welfare and pensions service for service and ex-service personnel and their dependants, and particularly for those who are in necessitous circumstances. In furtherance of this object and without limiting its generalities: - to help meet sickness and distress, suffering, ill health, destitution, helplessness, poverty, the care of War Widows and Widowers and their dependents, in-family welfare where help is needed, to maintain as necessary a Health Bureau, to safe guard children s health and to handle problems associated with child welfare. - to meet the cost of floral tributes and printing costs associated with the promotion of welfare activities associated with the promotion of welfare activities of the Returned and Services League within the Australian Capital Territory. NON- PROFIT CLAUSE 3. The assets and income of the Branch shall be applied solely in furtherance of its above-mentioned general objects clause and no portion shall be distributed directly or indirectly to the members of the Branch except as bona fide compensation for services rendered or expenses incurred on behalf of the Branch. DISSOLUTION CLAUSE 4. In the event of the Branch being dissolved, that amount that remains after such dissolution and the satisfaction of all debts and liabilities shall be transferred to another organisation with similar purposes which is not carried on for the profit or gain of its individual members. THE TERM 5. Subject to By-Law No.7 of the Branch, the term of each trustee is until 31 st July 20.., or the date of the Branch Congress (whichever is the earlier) or until re-election, or re-appointment, or the election or appointment of a successor.
25 24 TRUSTEES POWERS 6. The Trustees must hold the Trust Fund and the income of the Trust Fund derived in each Accounting period on trust to pay or apply the income and, if and so far as they think fit, all or any part of the capital of the Trust funds, solely for the purpose of facilitating the objects of the Trust. 6.1 Investment The Trustees 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. 6.2 Other powers The Trustees may: change an investment for any others or vary the terms and conditions on which an investment is held; sell or otherwise dispose of the whole or any part of the investments or property of the Trust Fund; borrow or raise or secure the payment of money and secure the repayment of any debt, liability, contract, guarantee or other engagement in any way and, in particular, by mortgage, charge, lien, encumbrance, debenture or other security, fixed or floating, over any present or future asset of any kind and wherever situated; take and act on the opinion of a barrister practising in Australia in relation to the interpretation or effect of this Deed or any of the trusts or powers of this Deed without responsibility for any loss or error resulting from doing so, but this provision does not stop the Trustees from applying to a court of competent jurisdiction; take any action for the adequate protection or insurance of any part of the Trust Fund; purchase, draw, make, accept, endorse, discount, execute and issue promissory notes, bills of exchange, and other negotiable or transferable instruments of any kind; subject to the trusts of this Deed, generally: perform any administrative act; and pay or deduct all costs, charges, commissions, stamp duties, imposts, outgoings and expenses of or incidental to the Trust Fund or its management (whether or not the Trustees are under any legal obligation to make the payment) or in connection with the preparation, execution and stamping of this Deed, as though the Trustees were the absolute owner of the Trust Fund and the income of the Trust Fund;
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