cch itrust: minute builder (or resolution...

2 wolterskluwer.co.nz/cch-companies/

CCH iTrust: Minute Builder (or Resolution Builder)

This guide will help you to understand what the Minute Builder is and how to use it.

Minute Builder The Minute Builder is a way to create detailed and specific minutes and resolutions using a

selection of small templates combined into a single document.

How to use the Minute Builder 1. Open the trust and go to DOCUMENTS, NEW then CREATE NEW DOCUMENT.

2. Select MINUTE BUILDER then NEXT.

http://www.wolterskluwer.co.nz/cch-companies/


3. Complete the basic document information.

4. Find the individual minute template you would like to use. Filter by Group or Search for

a specific word.



5. Complete the information for the minute you have chosen. Information should be

typed. Names can be selected if appropriate. Use Expand to add more information.

6. Select SAVE AND SELECT ANOTHER MINUTE to add more. Repeat step 5.

7. Select SAVE AND EXIT when all minutes have been selected. You will now see a preview

of your minutes. In this screen you can re-order the minutes if required. You can also

manually ADD a further comment or minute. Select NEXT to create the document.



8. The document will be created in Word where it can be further edited if necessary.



How to create Resolutions 1. Open the trust and go to DOCUMENTS, NEW then CREATE NEW DOCUMENT.

2. Select RESOLUTION BUILDER then follow the same steps as described above.

Document Register 1. Minute documents that have been created using the Minute Builder will show as

‘Minute Builder’ in the Document Register.

2. Select MODIFY to change the name.

3. Rename as required.



Minute Library

Subject : Noting establishment of trust and initial settlement

Minutes

:

The trustees have received:

1. the initial settlement onto trust of $**Amount of initial settlement**.

2. a memorandum of wishes from **Name of person providing the memorandum of

wishes**.

The trustees have banked the initial settlement into the Trust’s bank account.

The trustees record that the memorandum of wishes is not binding them.

Subject : Acquiring assets with debt back

Minutes: Following discussion regarding the purposes of the Trust, the trustees have acquired the

following assets from **Name of the vendor** on the terms set out in a deed of sale and

acknowledgment of debt dated **Date of deed**:

- **Description of assets being acquired**.

Subject : Acquisition of assets with no debt back

Minutes

:

Following discussion regarding the purposes of the Trust, the trustees have acquired the

following assets from **Name of vendor** on the terms set out in **An agreement for sale

and purchase/a contract** dated **Date of agreement/contract**:

- **Description of assets**.

The purchase was funded by an advance from **Name of vendor/name of bank/other

lender**.

Subject : Acceptance of gift

Minutes : Following discussion regarding the purposes of the Trust, the trustees have

accepted the following gift(s) from **Name of donor**:

**Description of gift(s)**.



Subject : Trustee borrowings

Minutes : Following discussion regarding the purposes of the Trust, and satisfying themselves as

to **Name of donor** s solvency, the trustees have agreed to borrow $**Amount**

from **Name of lender** to **Purpose of borrowings**.

The trustees have entered into the following documents:

- Loan agreement between the trustees and **Name of lender**

- Authority and Instruction (A & I) form granting a mortgage in favour of **Name of

lender**

- Trustee certificate, and **Any other documents**.

Subject : Bank account

Minutes : The trustees have opened a cheque account and **Name of additional accountants**

at **Name of bank**.

The Signatories of the account are **Names of signatories**.

The trustees have authorised **Names of authorised signatories/any two trustees**

to operate the account jointly.

Subject : Appointing advisers

Minutes : The trustees have appointed:

(a) **Name of law firm** as solicitors to the Trust.

(b) **Name of accounting firm** as accountants to the Trust.

(c) **Name of investment adviser(s)** as investment adviser(s) to the Trust.

Subject : Insurance arrangements

Minutes : The trustees have authorised **Name of trustee/delegate** to seek quotes for insuring

**Description of property** for $**Amount to insure**.

The trustees have insured **Description of property** for $**Amount insured ** with

**Name of insurer**. The annual premium will be paid by **Name of person paying

insurance premium**.

The trustees have insured the following trust property for the values specified with the

specified insurers:

- **List property, value, Insurer and Policy Number**



Subject : Occupation of trust property

Minutes : The trustees have resolved that the property at **Address of property** will be

occupied by **Name of occupant(s)** and **His/her/their** family in

**His/her/their** capacity as beneficiaries of the Trust.

**Name of occupant(s)** will report back to the trustees annually regarding how much

has been paid on account of rates, interest on borrowings, repairs and maintenance;

and the total amount paid will be recorded as an advance to the trustees from **Name

of occupant(s)**.

Ongoing Management and Administration

Subject : Receiving and considering draft financial statements

Minutes : It was resolved to receive and consider the draft financial statements for the Trust for

the year ended **Date of year end** prepared by **Name of accounting firm**.

Subject : Adopting financial statements

Minutes : Having received and considered the financial statements for the Trust for the year

ended **Date of year end** prepared by **Name of accounting firm** it was resolved

to adopt the financial statements as a true and fair record of the Trust s financial

position.

Subject : Receiving and considering draft tax returns

Minutes : It was resolved to receive and consider the draft income tax return for the Trust for

the year ended **Date of year end** prepared by **Name of accounting firm**.

Subject : Approving and signing tax returns

Minutes : Having received and considered the income tax return for the Trust for the year ended

**Date of year end** prepared by **Name of accounting firm**, it was resolved to

approve the income tax return and authorise **Name of delegate** to sign the return

on the trustees behalf.

Subject : Calling for proposals from investment advisers

Minutes : It was resolved to authorise **Name of delegate** to request **Names of investment

advisers** to submit proposals for the provision of investment advice to the trustees.

Subject : Appointing an investment adviser

Minutes : The trustees, having received and considered the proposals from **Names of

investment advisers considered** for the provision of investment advice to the

trustees, resolved to appoint **Name of investment adviser appointed** as the

investment adviser for the Trust.



Subject : Adopting an investment strategy

Minutes : The trustees have received and considered an investment report prepared by **Name

of investment adviser** dated **Date of report**.

The trustees have resolved to accept the recommendations contained in that report

and to appoint **Name of investment adviser** to implement the recommendations

subject to the following modifications:

- **Details of modification**.

Subject : Monitoring investments - no changes

Minutes : The trustees have received a report prepared by **Name of investment adviser**

dated **Date of report**.

The report indicates that the Trust s investment strategy has been observed and no changes are

required.

Subject : Monitoring investments - with changes

Minutes : The trustees have received a report prepared by **Name of investment adviser**

dated **Date of report**.

The report indicates that the Trust s investment strategy is not meeting the

beneficiaries requirements and the following changes are required:

- **Details of change required**.

Subject : Changes in investment strategy

Minutes : Following discussion regarding the purposes of the Trust and the beneficiaries

requirements, the trustees have asked **Name of investment adviser** to review

the Trust s investment strategy in light of:

- **Specify changes in the beneficiaries requirements**

- a report dated **Date of report**

- **Any other factors**

and to make recommendations concerning changes to the investment strategy for the

trustees consideration.

Subject : Acquisition of investments

Minutes : Following discussion regarding the purposes of the Trust and in light of

recommendations made by **Name of investment adviser** in a report dated

**Date of report**, the trustees resolved to buy:

**Details of investments to be purchased**.

The purchase will be funded by **Details of funding**.



Subject : Divestment of investments

Following discussion regarding the purposes of the Trust and in light of

recommendations made by **Name of investment adviser** in a report dated

**Date of report**, the trustees resolved to sell the following:

**Details of investments to be sold**

The proceeds of sale will be:

**Paid to trust bank account at [name] / reinvested in accordance with the

recommendations contained in a report by [investment advisor] date [date] / details

of alternative investment for proceeds of sale**

Subject : Acquiring investments

Minutes : The trustees have decided to instruct **Name of valuer** to value the following

property:

**Details of trust property to be valued**

The purpose of the valuation is **Briefly state reasons for valuation**

Subject : Review of property investments

Minutes : The trustees have decided to instruct **Name of valuer/adviser** to carry out a

review of the Trust s investment in the following property:

- **Details/address of trust property to be reviewed**

**Name of valuer/adviser** is to report to the trustees on the following matters:

- **Matters for valuer/adviser to report on**

Subject : Commissioning valuation of real property investment

Minutes : It was resolved to instruct **Name valuer** to carry out a valuation of the

following investments:

**List the property or properties to be valued**

Subject : Negotiation of property purchase

Minutes : Following discussion regarding the purposes of the Trust and in light of **Briefly state

other factors/report details**, the trustees have resolved to authorise **Name of

agent** to negotiate the purchase of the property at **Address of property to be

purchased** from **Name of vendor(s)** at a price not to exceed $**Amount** and

to enter into an agreement for sale and purchase on the trustees behalf.



Subject : Purchase of property

Minutes : The trustees have purchased the property at **Address of property purchased**

from **Name of vendor(s)** for $**Amount**. The property has been purchased to

**Briefly state reasons for purchase of property**.

.

Subject : Placing real estate on the market by way of private treaty

Minutes : The trustees have purchased the property at **Address of property purchased** from **Name of vendor(s)** for $**Amount**. The property has been purchased to **Briefly state reasons for purchase of property Having considered the valuation prepared by **Name of valuer** of the Trustís property at **Address of property** and the proposals from **Names of real estate agents** and having discussed the circumstances pertaining to the property, it was resolved to:

1. 1. List the property for sale with **Name of real estate agent** for sale by way of

private treaty for a price equal to $**Amount**.

2. 2. Authorise **Name of delegate** to negotiate with prospective purchasers as the

agent of the trustees and to refer any signed offers to the trustees

Subject : Placing real estate on the market by way of auction

Minutes :

Having considered the valuation prepared by **Name of valuer** of the Trust s

property at **Address of property** and the proposals from **Names of real estate

agents** and having discussed the circumstances pertaining to the property, it was

resolved to

**Set out details of the expenditure and the purpose of the expenditure**

1. List the property for sale with **Name of real estate agent** for sale by way

of auction for a price not less than $**Amount**.

2. Authorise **Name of delegate** to liaise with **Name of real estate agent**

regarding the auction process as agent of the trustees.

3. Instruct **Name of delegate** to report to the trustees not less than weekly

in the four weeks leading up to the auction.

4. Authorise **Name of delegate** to sign the auction contract presented to the

trustees for this purpose as agent of the trustees.

Instruct **Name of delegate** to seek further instructions from the trustees in the

event that the property does not sell at auction and, in particular, to seek further

instructions from the trustees in connection with negotiating a private sale after

auction



Subject : Placing real estate on the market by way of tender

Minutes Having considered the valuation prepared by **Name of valuer** of the Trustís

property at **Address of property** and the proposals from **Names of real estate

agents** and having discussed the circumstances pertaining to the property, it was

resolved to:

1. List the property for sale with **Name of real estate agent** for sale by way of

tender.

2. Authorise **Name of delegate** to liaise with **Name of real estate agent**

regarding the tender process as agent of the trustees and to refer tenders to the

trustees.

Subject : Selling real estate

Minutes : It was resolved that the Trustís property at **Address of property** be sold to

**Name of purchaser** for a price of $**Amount** on the terms and conditions in

the agreement for sale and purchase presented to the trustees and that the

agreement for sale and purchase be signed by the trustees. Having considered the

**Offer(s)/tender(s)** to purchase the Trustís property at **Address of property**

received by the trustees from **Names of persons who have made offer/tender**,

it was resolved to:

1. Sell the property to **Name of purchaser** for the price of $**Amount** on

the terms and conditions of the agreement for sale and purchase presented to

the trustees for this purpose

2. Authorise **Name of delegate** to sign the agreement for sale and purchase as

agent of the trustees

Subject : Approving major disbursements or authorising major expenditure

Minutes : Approving major disbursements or authorising major expenditure

**Set out details of the expenditure and the purpose of the expenditure**

Subject : Authorising the implementation of the investment strategy (Archive Jun 2020)

Minutes : Having received and considered the report of **name of investment adviser** it was

resolved to accept the recommendations in the report and to appoint **name of

investment adviser** and **name of administrator** to implement the

recommendations subject to the following modifications: **Set out modifications

here. If no modifications delete this and phrase "subject to following

modifications"**.



Subject : Receiving and considering investment monitoring report - No action (Archive)

Minutes : It was noted that the **name of investment monitoring report** had been received

and considered. As a result of the trustees' consideration it was agreed that the

report indicated that the Trust's investment strategy was being observed and that no

changes were required.

Subject : Receiving and considering investment monitoring report - Changes req (Archive)

Minutes : It was noted that the **name of investment monitoring report** had been received

and considered. As a result of the trustees' consideration it was agreed that **name of

investment adviser** be asked to review the investment strategy in the light of the

following: (i) changes in the beneficiaries' requirements; **Specify details of changes in

the beneficiaries requirements** (ii) the comments made by the **name of investment

adviser** in **his / her** report; (iii) **Specify any other factors**, and to make

recommendations concerning changes to the investment strategy for the trustees'

consideration.

Subject : Commissioning advice on changes to the investment strategy (Archive Jun 2020)

Minutes It was resolved to appoint **name of investment adviser** to undertake a review of

the Trust's investment strategy in the light of the following: **Specify changes that

have occurred since the strategy was last established and other factors currently

influencing the strategy**

Subject : Distributing all of the income of a year after the year end

Minutes Having considered the draft financial statements for the Trust for the year ended

**Date of year end** and the interests, needs and circumstances of **Specify

beneficiaries by class or name**, it was resolved to distribute all of the net income of

the year to **Names of the beneficiaries** in equal shares and to instruct **Name of

accountant** to take the distribution into account in finalising the financial

statements.

**List per beneficiary: Name, gross amount distributed, any resident withholding tax,

any other credits allocated, net amount distributed and how the distribution is to be

made**

Subject : Distributing some of the income of a year in equal amounts after year end

Minutes Having considered the draft financial statements for the Trust for the year ended

**Date of year end** and the interests, needs and circumstances of the beneficiaries,

it was resolved to distribute the sum of $**Amount** from the net income of the

Trust for the year to each of **Names of beneficiaries** in equal shares and to

instruct **Name of accountant** to take the distribution into account in finalising the

financial statements





made**

Subject : Distributing income in unequal shares after year end

Minutes : Having considered the draft financial statements for the Trust for the year ended

**Date of year-end** and the interests, needs and circumstances of the beneficiaries,

it was resolved to make the following distributions from the net income of the Trust

for the year and to instruct **Name of accountant** to take the distributions into

account in finalising the financial statements for the Trust:



made**

Subject : Distributing income to a beneficiary at any time

Minutes : It was resolved to distribute the sum of $**Amount** out of income to **Name of

beneficiary**.



made**

Subject : Distributing income to a number of beneficiaries in equal amounts

Minutes : It was resolved to distribute the sum of $**Amount** out of income to each of

**Names of beneficiaries**.



made**

Subject : Distributing income to a number of beneficiaries in unequal amounts

Minutes : It was resolved to make the following distributions out of income:



made**

Subject : No income distribution insufficient income

Minutes : Having considered the financial position of the Trust and noting that there was

insufficient income in the year ended **Date of year end** to make any distributions

out of income, it was resolved that no distributions be made out of the income of the

year ended **Date of year end** and that the entire income of that year be retained

and become part of the capital of the trust fund.



Subject : Accumulating all the income

Minutes : Having considered the circumstances of the Trust and the circumstances of the Trust s

beneficiaries, the trustees have resolved that all of the income derived in the year

ended **Date of year end** will be retained and capitalised.

Subject : Accumulating part of the income of a year

Minutes : It was resolved that the balance of the income of the year ended **Date of year end**

remaining after the distributions referred to in preceding minutes be accumulated and

become part of the capital of the trust fund.

Subject : Distribution of capital


beneficiaries, the trustees have resolved to make the following capital distributions:

**List names of beneficiaries and amounts**.

Subject : Equal distributions of capital


beneficiaries, the trustees have resolved to distribute the sum of $**Amount** from

the Trust s capital to each of the following beneficiaries:

**List names of beneficiaries**.

Subject : Unequal distributions of capital

Minutes : It was resolved to make the following distributions out of the capital of the

trust fund:



made**

Subject : Ratifying payment or application of income during the year

Minutes : The trustees have considered the amount of payments, applications and distributions

made during the income year ended **Date of year end** to, or for the benefit of:

**List names of beneficiaries**

The trustees, being satisfied that there was sufficient income to meet such payments,

applications and distributions, confirm and ratify the payments, applications and

distributions so made and charge the payments, applications and distributions to

income for the year ended **Date of year end**.



Subject : Ratifying payment of capital

Minutes : The trustees have considered the amount of payments, applications and distributions

made during the income year ended **Date of year end** to, or for the benefit of:

**List names of beneficiaries**

and confirm and ratify the payments, applications and distributions so made and

charge the payments, applications and distributions to capital.

Subject : Charging payments during year to beneficiary’s current account

Minutes : The trustees have resolved that all payments made to, or on account of, **Name of

beneficiary** shall be debited to **Name of beneficiary** s current account.

Subject : Not distributing income - after due consideration. (Archive Jun 2020)

Minutes : Having considered the circumstances and having discussed the issues pertaining to

the beneficiaries it was resolved that no distributions of income out of the income

year ended **Date of year end** be made and that the entire income of that year be

accumulated and become part of capital.

Constitutional Issues

Subject : Amending the trust deed - replacing specific provisions

Minutes : It was resolved, pursuant to clause **Number of clause(s) with revocation and

substitution powers** of the trust deed of the Trust, to revoke clause **Number of

clause being revoked** of the trust deed and substitute the same with the

following:

**Set out the wording of the substitute clause**

Subject : Amending the trust deed - changing specific provisions

Minutes : It was resolved, pursuant to clause **Number of clause with amendment powers**

of the trust deed of the Trust, to amend clause **Number of clause being

amended** of the trust deed so that it reads as follows:

**Set out the wording of the amended clause**

Subject : Resettling some of the trust s assets (without novation of liabilities)

Minutes : The trustees, having satisfied themselves that to do so would be for the benefit of the

beneficiaries, resolved:

1. Pursuant to the power vested in the trustees by clause **Number of clause

with resettlement power** of the trust deed of the Trust, to resettle the assets of the

Trust set out in the schedule to the deed of resettlement presented to the trustees on

the trustees of **Name of the new trust** on the terms contained in the deed dated

**Date of deed** establishing the **Name of the new trust**.

2. To sign the deed of resettlement and do all such other things as may be

necessary to give effect to the resettlement.



Subject : Resettling some of the trust s assets and novation of liabilities

Minutes : The trustees, having satisfied themselves that to do so would be for the benefit of the

beneficiaries, resolved:

1. Pursuant to the power vested in the trustees by clause **Number of clause with

resettlement power** of the trust deed of the Trust, to resettle the assets of the

Trust set out in the schedule to the deed of resettlement and novation presented to

the trustees on the trustees of **Name of the new trust** on the terms contained in

the deed dated **Date of deed** establishing the **Name of the new trust**,

subject to:

(a) the trustees of the **Name of the new trust** accepting, by way of novation,

the liabilities of the Trust set out in the schedule to the deed of resettlement and

novation, and

(b) the creditors consenting to the novation of liabilities.

2. To sign the deed of resettlement and novation and do all such other things as may

be necessary to give effect to the resettlement.

Subject : Exercising the power of advancement

Minutes : It was resolved pursuant to the powers in s 41 of the Trustee Act 1956 to make a

payment by way of advancement of capital to **Name of beneficiary**, and to sign a

deed of advancement for this purpose and do all such other things as may be

necessary to give effect to the advancement.

The trustees noted that they were satisfied that the payment was for the

**Maintenance/education/advancement/benefit see s 41** of **Name of

beneficiary** and that the payment did not exceed one-half of the beneficiary s

presumptive share of the capital.

Subject : Appointment of new trustee - where trustees do not hold power of appointment

Minutes : Having received and considered a deed of appointment and retirement of trustees

whereby the **Name of appointor of trustees** has appointed **Name of new

trustee** as a new trustee of the Trust in place of **Name of retiring trustee** and

having been asked to sign the deed of appointment and retirement of trustees, it was

resolved to sign the deed of appointment and retirement of trustees.

Subject : Appointment of new trustee - trustees hold power of appointment

Minutes : It was resolved, in exercise of the power vested in the trustees to appoint new

trustees by clause **Number of clause with power of appointment** of the trust

deed of the Trust, that **Name of new trustee** be appointed as a new trustee in

place of **Name of retiring trustee** and to sign a deed of appointment and

retirement of trustees for that purpose.



Subject : Appointment of additional trustee - trustees do not hold power of appointment

Minutes : Having received and considered a deed of appointment of trustee whereby **Name

of appointor** has appointed **Name of additional trustee** as an additional trustee

of the Trust and having been asked to sign the deed of appointment of additional

trustee, it was resolved to sign the deed of appointment of additional trustee.

Subject : Appointing an additional trustee - trustees hold power of appointment

Minutes : It was resolved, in exercise of the power vested in the trustees to appoint new or

additional trustees by clause **Number of clause with power of appointment** of

the trust deed of the Trust, to appoint **Name of additional trustee** as an

additional trustee of the Trust and sign a deed of appointment of additional trustee

for that purpose.

Subject : Appointment of a property manager single property

Minutes : It was noted that **Name of property manager** has been appointed as the

manager of the property at **Address of property**. The terms of the appointment

are recorded in a Property Management Agreement dated **Date of agreement**.

Subject : Appointment of a property manager multiple properties

Minutes : It was noted that **Name of property manager** has been appointed as the manager

of the properties at:

**List addresses of properties**

The terms of the appointment are recorded in a Property Management Agreement

dated **Date of agreement**.

Subject : Death of trustee no appointment of new trustee one property

Minutes : It was noted that **Name of deceased trustee** has died. The surviving trustees have

signed the Authority and Instruction form for the transmission of the Trust property at

**Address of property**. The certificate of title showing the transmission to the

surviving trustees is attached to this minute.

Subject : Death of trustee no appointment of new trustee multiple properties

Minutes : It was noted that **Name of deceased trustee** has died. The surviving trustees have

signed the Authority and Instruction form for the transmission of the Trust properties

at:


The certificates of title showing the transmission to the surviving trustees are

attached to this minute.



Subject : Death of trustee appointment of new trustee one property

Minutes : It was noted that **Name of deceased trustee** has died and **Name of new

trustee** has been appointed as a new trustee. The surviving trustees have signed

the Authority and Instruction form for the transmission of the Trust property at

**Address of property** to the surviving trustees and the new trustee. The

certificate of title showing the transmission of the surviving and new trustees is

attached to this minute.

Subject : Death of trustee appointment of new trustee multiple properties

Minutes : It was noted that **Name of deceased trustee** has died and **Name of new

trustee** has been appointed as a new trustee. The surviving trustees have signed

the Authority and Instruction form for the transmission of the trust properties at:


to the surviving trustees and the new trustee. The certificates of title showing the

transmission to the surviving and new trustees are attached to this minute.

Subject : Removal of trustee pursuant to an enduring power of attorney

Minutes : It was noted that **Name of trustee** who has the power of appointment and

removal of trustees has been removed as a trustee by the trustee s property attorney

**Name of attorney** pursuant to an enduring power of attorney dated **Date of

EPA**.

Subject : Renouncement of gift

Minutes : It was noted that the trustees have renounced the gift of **Describe gift** that

**Name of donor** wished to gift to the trustees because **Reason, eg the gift was

onerous**.

Subject : Noting appointment of new beneficiary

Minutes : It was noted that the trustees had received a deed of appointment of new

beneficiaries from **Name(s) of person(s) with power to appoint beneficiaries** and

that pursuant to the deed, **Name of new beneficiary** had become a beneficiary of

the Trust.

Subject : Noting the removal of a beneficiary

Minutes : It was noted that the trustees had received a deed of removal of beneficiaries from

**Name(s) of person(s) with power to remove beneficiaries** and that pursuant to

that deed **Name of removed beneficiary** had been removed as a beneficiary of

the trust.

Subject : Bringing forward the vesting day

Minutes : It was resolved pursuant to the power vested in the trustees by clause **Number of

clause permitting the bringing forward of the vesting day** of the trust deed of the

Trust to bring forward the vesting day of the Trust to **Date of new vesting day**

and sign a deed giving effect to this resolution.



Subject : Winding up the trust

Minutes : It was resolved to wind up the Trust with effect from **Date of winding up** and

sign a deed of distribution and winding up for that purpose.

Subject : Noting appointment of new trustee (Archive Jun 2020)

Minutes : It was noted that **name of appointor of trustees** had appointed **name of new

trustee** as a new trustee in place of **name of retiring trustee** and that the

trustees had been asked to execute the deed of appointment and retirement of

trustees. It was resolved that the deed of appointment and retirement of trustees be

executed.

Subject : Noting appointment of additional trustee. (Archive Jun 2020)

Minutes : It was noted that **name of appointor** had appointed **name of additional

trustee** and that the trustees had been asked to execute the deed of appointment.

It was resolved that the deed of appointment be executed.

Subject : Executing the deed of distribution and winding up. (Archive Jun 2020)

Minutes : It was resolved that the trustees enter into a deed of distribution and winding up.

Miscellaneous

Subject : Guaranteeing beneficiary obligations with security

Minutes : It was resolved to:

1. Guarantee the indebtedness of **Name(s) of beneficiary(ies)** to **Name of

lender** up to a limit of $**Maximum amount** guaranteed.

2. Secure such guarantee by way of mortgage over **Details of property**.

3. Sign the following documents presented to the trustees for that purpose: (a)

guarantee and indemnity in favour of **Name of lender**, and (b) memorandum

of mortgage in favour of **Name of lender**.

Subject : Guaranteeing beneficiary obligations without security

Minutes : It was resolved to guarantee the indebtedness of **Name(s) of beneficiary(ies)** to

**Name of lender** up to a limit of $**Maximum amount** guaranteed and sign the

deed of guarantee and indemnity presented to the trustees for that purpose.

Subject : Ratification of past activities

Minutes : It was resolved that the following be confirmed and ratified:

**Set out details of decisions/actions being ratified**



Subject : Conflicts of interest

Minutes : It was noted that **Name of interested trustee** was interested in the

subject-matter of the preceding minute(s) by virtue of **Set out details of

interest**.

It was further noted that notwithstanding such interest, **Name of interested trustee** was permitted

by clause **Number of clause in trust deed dealing with conflicts of interest** of the trust deed of the

Trust to be a party to the transaction(s) the subject of the preceding minute(s).


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