TerraNature Trust Deed | 17                       Close window

24.4

The Trustees may have the annual accounts audited by a chartered accountant appointed by them.

24.5

The original, or a copy of this deed, amended and kept up to date, financial records and annual accounts will be kept at the principal office of the Trust or at such other place as the Trustees think fit.

24.6

Minutes, financial records, annual accounts, any correspondence written by or addressed to any Trustee or Officer of the Trust, and any leases, deeds, contracts, proposals or other documents to which the Trust is a party must always be available to be inspected by the Trustees, who may copy and make extracts of documents.

24.7

The Trustees shall cause an annual report to be sent to Trustees within 120 days after the end of the Trust's fiscal year which is June 30th. That report shall contain the following information, in appropriate detail, for the fiscal year:

(a)

Assets and liabilities, including the Trust funds, of the Trust as of the end of the fiscal year;

(b)

Principal changes in assets and liabilities, including Trust funds;

(c)

Revenue or receipts of the Trust, both unrestricted and restricted to particular purposes;

(d)

Expenses or disbursements of the Trust for both general and restricted purposes.

24.8

The annual report shall be accompanied by any report on it of independent accounts, or, if there is no such report, by the certificate of an authorized officer of the Trust that such statements were prepared without audit from the Trust's books and records.

25

BORROWING

25.1

No lender to the Trust need enquire about the necessity for any borrowing, or the purpose for which it is required, or the use of the money borrowed.

26

AMENDMENT OF TRUST DEED

26.1

Subject to compliance with the requirements of any relevant legislation for the time being in force relating to charitable trusts, the Trustees may amend, revoke, or add to any of the provisions of this deed by:

(a)

the president or the secretary giving notice of any proposed amendment, revocation, or addition to this deed to all Trustees; and

(b)

at a meeting of the Trustees at which a quorum is present, by a majority vote of the Trustees then in office, adopt a resolution to amend, revoke, or add to this deed,

Provided that no amendment, revocation, or addition shall be made to the Objects or to any other provisions of this deed if the consequence would be to enable any part of the Trust Fund to be applied for objects or purposes other than objects or purposes within New Zealand that are charitable according to the law of New Zealand.