TerraNature Trust Deed | 3                       Close window

5.1

(b)

Objects that will assist in causing the restoration of historic ecosystems by enhancement, management and protection of lands held for conservation purposes; and protection and reintroduction of fare, threatened and endangered indigenous plant and animal species;

(c)

Objects that will conserve land and water for the public benefit to improve the quality of life, and protect natural, indigenous resources, by acquisition or control of privately owned land, and management of it for open space conservation or special use or environmental protection purposes; or transfer of land to public ownership to enable public recreation use and enjoyment of New Zealand's historic heritage, or native habitat interpretation.

(d)

Objects that will assist in causing the designation of Marine Reserves within the New Zealand Exclusive Economic Zone, for the purpose of protecting marine species and seafloor habitat and topography.

6

APPLICATION OF INCOME

6.1

The Trustees may at any time after payment of or provision for all costs, charges and expenses of the Trustees in respect of the establishment, management and administration of the Trust, pay or apply all or any of the income of the Trust to promote or advance such of the Objects as the Trustees determine.

7

APPLICATION OF CAPITAL

7.1

The Trustees may at any time pay or apply all or any of the capital of the Trust to promote or advance such of the Objects as the Trustees determine.

8

RECEIPT OF CHARITABLE RECIPIENT

8.1

The receipt of the secretary or treasurer or other proper officer of any charity or charitable purpose to which all or any of the Trust Fund is paid or applied will constitute a sufficient discharge to the Trustees for the payment or application.

9

RESETTLEMENT

9.1

The Trustees have power in their discretion to settle or resettle all or any of the capital or income or both of the Trust upon trust for the advancement or benefit of one or more of the Objects as the Trustees decide, but the settlement or resettlement must not breach the rule against perpetuities as it applies to charities.

10

INVESTMENT OF THE TRUST FUND

10.1

The Trustees may invest all or any of the Trust Fund in any Property that is from time to time permitted by the laws of New Zealand for the investment of the funds of trusts, including full power to buy or otherwise acquire any Property and full power to sell or otherwise dispose of any of the Trust Fund.

11

POWERS AND DISCRETIONS OF TRUSTEES

11.1

Subject to the provisions and limitations of any applicable laws of New Zealand, and subject to any limitations of this deed, the Trust's activities and affairs shall be managed, and all powers shall be exercised, by or under the direction of the Trustees.