Wednesday, January 28, 2015

Power Of The ‘Trustees’ Of ‘Trust’

Power Of The ‘Trustees’ Of ‘Trust’

 
a.       The Trustees shall have all powers necessary or incidental for effectively carrying out the objects of the Trust.

b.       Subject to the general provisions of the Trust and without prejudice to the general and specified powers conferred upon the Trustees by the other provisions contained in these presents, the Trustees shall have the following powers also:
         i     To apply the Trust monies to effectuate one object or                some  of the objects of the Trust in preference to the                other objects.
ii.       To discontinue the application of Trust Funds to the object and divert the funds to another object.

iii.      To decide the nature and functions of the institutions to be established by the Trust and to decide whether and if so what existing institution or institutions may be taken over by the Trust or to which any aid may be given.

iv.      In case it is decided to render financial or other aid to any person or institution to decide what terms and conditions should be complied by such person or institution.

v.       To determine the terms and conditions on which any donations, subscriptions, scholarships or prizes are to be given by the Trust.

vi.      To expend the funds of the Trust in such manner as they shall consider most beneficial for the purpose of the Trust.

vii.     To acquire, build upon, pull down, rebuild, add to, alter, repair, improve, sell or dispose of any land, building or premises for the use of the Trust and to acquire any movable property required for the use of the Trust and to dispose of the same.

viii.    To acquire any property in exchange for some other property or partly in such exchange and partly for other consideration.

ix.      To enter into any contracts on behalf of the Trust.

x.       To borrow any money upon the security of any of the property of the Trust and to grant mortgages for securing the same or without any security and upon such terms and conditions the Trustees may deem fit.

xi.      To make and from time to time repeal and/or alter regulations.

a.       As to the management of the Trust and the affairs thereof.

b.       As to the duties and remuneration of any officer or servants of the Trust.

c.       As to the conduct or any of the matters or things within the powers or under the control of the Trustees provided that the same shall not be inconsistent with the provisions contained in these presents.

xii.     To settle out of court, compromise or compound all suits, actions and other proceedings and all differences and demands and to refer all or any of such differences or demand to arbitration and to execute releases and to settle and approve all accounts without being answerable for any loss occasioned thereby.

xiii.    To appoint and dismiss Managers, Secretaries,Clerks and other staff and workers required for working of its business or industry and for general management of the affairs of the Trust

xiv.    To make changes in the object of the Trust which are consistent with the attainment of the main object.