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Sunday, 29 April 2012 14:19

Document Created for Trustee's of The New Mentor-cation Program

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HOLONX TRUSTEE CONTRACT

 

This Deed of Public Foundation Trust executed on __________ between Holonx Group  and ........................... herein refereed to as the TRUSTEE ........................

Resident of .............................hereinafter called the 'Settlor'(which expression shall,

unless excluded by or repugnant to the context, be deemed to include his executors,

administrators and representatives) of the one part, and

(1) .............................. (2)................................... (3)..............................

(4)............................... (5)................................... (6)..............................

(7)............................... (8)................................... (9)..............................

(10)............................. (11)................................. (12)............................

hereinafter jointly referred to as 'trustees' (which expression shall, unless excluded by or

repugnant to the context, be deemed to include the trustee or trustees for the time being of

these presents and their successors in office) of the other part.

Whereas the Settlor is desirous of establishing a trust for public charitable objects.

And whereas the trustees have, at the request of the settlor, agreed to act as the first trustees

of these presents as testified by their being parties to and executing these presents.

And whereas it is necessary to declare the objects and terms of the public charitable trust,

being constituted under these presents.

Now this indenture witnesseth as follows

1. That the name of the trust shall be HolonX Group Trust and its office shall, for the

present, be situated at Lovina, Bali and/or at such other place or places as

the trustees may decide from time to time.

2. That the objects for which this trust is established are:

(a) To establish, develop, maintain and grant aid in cash or in kind to schools, orphanages

schools, villages, communities and/or such other similar charitable institutions in Bali for the

benefit and use of the general public.

(b) To establish, run, support and grant aid or other financial assistance to schools,

colleges, libraries, reading rooms, communities of the like nature in Bali, Indonesia, for use of the students and the staff and also

for the development and advancement of education and diffusion of knowledge

amongst the public in general.

(c) To establish, maintain and run studentships, scholarships and render other kind of aid

to students including supply of books, stipends, medals and other incentives to study,

without any distinction as to caste, colour, race, creed or sex.

(d) To promote, establish, support, maintain or grant aid to institutions for the promotion

of science, literature, music, drama and fine arts, for the preservation of education and future food, clothing or other projects in Bali, Indonesia, having similar objects for the benefit of the public in general.

(e) To establish, maintain or grant aid to orphanages or other establishments for the relief and help to the poor, needy and destitute people and orphans and to provide them education, books, pens or other commodities needed.

That the Trust Fund may be augmented by the income from the initial fund and also by

donations and other contributions from time to time.

That the Trust Fund shall not be applied for any purpose other than those specified in Para

2 here-in-above.

That the Trustees shall always maintain proper accounts of the Trust which shall be kept at

the office of the trust.

That for the furtherance of the objects of the trust, the trustees shall have the following

powers:

(a) To accept any donation, contribution, grant or subscription in cash or in kind, from any

person(s), body of persons or trust, with or without conditions.

(b) To apply the whole or any part of the income of the trust, or the trust fund or

accumulations thereto, to any one or more of the objects of the trust, as the trustees

may, in their discretion, deem fit from time to time.

(c) To convert and deal with the trust property and/or any investments for the time being.

(d) To invest the Trust Fund either in the purpose of mortgage of immovable property or

in shares, stock or debentures or other securities and investments, or in deposits with

or loans to any company, bank, firm or any other person, and to alter, vary or transpose

such investments, from time to time at the discretion of the trustees.

(e) To borrow or raise or secure payments of moneys and also to lend money either with

or without security.

(f) To sell, dispose of, alienate or otherwise deal with any property comprising the Trust

Fund.

(g) To let out, demise any immovable property comprised in the Trust Fund for such

period and at such rent on such terms and conditions as the Trustees in their discretion

may think fit.

(h) To open account in the name of the Trust, Trustees and/or Institutions run/ conducted

by the Trust with a Bank or Banks, to operate such account and to give instructions to

the Bank and to provide for opening and operation of such account by one or more of

the Trustees or by an agent appointed by the Trustees.

To adjust, settle, compromise, compound, refer to arbitration, all actions, suits, claims,

demands and proceedings regarding the Trust Fund.

To appoint constituted attorneys or agents and to delegate to such attorneys or agents

all or any of the powers vested on them under these presents and from time to time

remove such attorneys or agents and to appoint other or others in his or their place.

To appoint or make provision for the appointment of any person (including all or any

of the Trustees and committees or administrator or Managing Trustees or otherwise)

for the purpose of the administration of the Trust in such manner and subject to such

rules and regulation as the Trustees may prescribe and also to appoint or provide for

the appointment of separate Trustees to hold any fund or investment subject to the

provisions of this Deed in such manner and subject to such rules and regulations as the

Trustees may from time to time think fit.

To make, vary, alter or modify schemes, rules and regulations for carrying out the

objects of the Trust and for the management of the affairs thereof and/or running any

institution in furtherance of the objects of the Trust and otherwise for giving effect to

the objects of the Trust.

To start, abolish, discontinue and restart any charity or charitable institutions for the

benefit of general public and to impose any conditions to any subscription or donation

made by them.

To set apart and/or allocate the whole or a part of the income or the corpus of the trust

Fund or part thereof for any of the objects of the Trust.

To join, co-operate or amalgamate this trust with other or others having kindred or

allied objects, upon such terms and conditions as the trustees may in their discretion

think fit, particularly having regard to and in conformity with the objects and nature of

this Trust.

To give aid by way of donations out of the income or the corpus of the Trust Fund or

otherwise, to different charitable institutions, societies, organizations or Trusts in India

which may have been established or which may hereafter be established for the like

charitable purposes mentioned in these presents or any of them to enable such

institution, societies, Organization or Trustees to start maintain, or carry out such

charitable objects.

To settle all accounts and to compromise, compound, abandon, or refer to arbitration

any action or proceedings or disputes, claim, demand or things, as deemed proper for

such purpose without being responsible for any loss occasioned thereby.

To borrow moneys either on the security of any property comprised in the Trust Fund

or otherwise for all or any of the purposes of these presents, and it shall be lawful for

the Trustees to make such borrowings on payment of such interest and otherwise on

such terms and conditions as they may in their absolute discretion think fit.

To apply to the Government, public bodies, urban, local, municipal, district and other

bodies, corporation, companies, or persons for and to accept grant of money and of

aid, donations, gifts, subscriptions, and other assistance with a view to promoting the

objects of the trust and to discuss and negotiate with the Government Departments,

public and other bodies corporations, companies or persons, scheme and other work

and matters within the o6jects of the Trust and to conform to any proper condition

upon which such grants and other payments may be made.

To take over or amalgamate with any other charitable trust, society, association, or

institution with similar objects.

To establish, promote, manage, organise or maintain or to assist in establishing,

promoting, managing, organising, or maintaining any branch of the Trust or any

other Trust or its branch with objects similar to those of this Trust and to promote

or carry on the affiliation or amalgamation of such other Trust with this Trust.

To take over, acquire, manage, control or aid any existing institution or institutions

having objects either wholly or in part similar to the objects of this Trust and on

such terms and conditions as may be thought expedient.

To purchase or otherwise acquire and undertake all or any part of the property,

assets, liabilities and engagement of any or more of the trusts, societies, institutions

or associations with which this Trust is authorized to amalgamate.

To transfer all or any part of the property, assets, liabilities and engagements of this

Trust to any one or more of the trust, societies, institutions or associations with

which this Trust is authorised to amalgamate.

To transfer and hand over the Trust to any other Society, Corporation, Institution,

Trust or Organisation on such terms and conditions as the Trustees shall in their

absolute discretion think fit and proper to be held by the Society, Corporation,

Institution, Trust or Organisation with the powers, provisions, agreements and

declarations, appearing and contained in these presents subject to such

modifications as may be necessary and consequent to such transfer of the Trust

fund. The Trustees for the time being of these presents shall become discharged

from the Trust thereof relating to Trust Funds so transferred.

8. The Trustees shall be accountable only for such moneys, stocks, shares and funds as

shall actually come into their hands and a Trustee shall not be answerable or

accountable for neglect, default, acts or omissions or commissions of the other trustees,

nor of any banker or other person with whom the trust properties or any securities may

have been deposited or kept.

9. The Trustees will not be entitled to receive any remuneration, but the Trustees may

reimburse themselves all expenses actually incurred by them in connection with the

Trust or their duties relating thereto.

10. The number of the Trustees shall not be less than two and more than seven. If the

number of the trustees shall fall below two, the Trustees shall not, except for the

purposes of filling any vacancy, act so long number is below the said minimum.

11. The managing trustees for the time being will be at liberty to appoint additional Trustee

within the number mentioned above for such period or on -such terms as to retirement

and re-appointment as the trustees for the time being considered proper. A person shall

cease to be a Trustee either: (i) if he without leave of absence does not attend three

consecutive meetings of the Trustees or for one calendar year, whichever is longer, or

(ii) if he is requested to resign by 3/4th or as near thereto as possible of the remaining

trustees

12. Every Trustee will be at liberty to resign on giving one month's notice of his intention to

do so.

13. The Trustees may from time to time frame rules for the conduct and regulations of the

meetings Of trustees. In the absence of such regulations:-

(a) _________________________________________________________

(b) _________________________________________________________

(c) _________________________________________________________

Two Trustees shall form a quorum for a meeting of the Trustees.

All matters will be decided mutually by the Trustees.

Resolution passed without any meeting of the Trustees but by circulation thereof

and evidenced in writing under the hands of two thirds of the trustees shall be as

valid and effectual as a Resolution duly passed at a meeting of Trustees.

14. The Trustees shall have the power to determine in case of doubt whether any moneys or

property shall for the purpose of the charity be considered as capital or income and

whether out of income or capital any expenses or outgoings ought to be paid or borne

and every such determination shall be binding and conclusive provided that nothing

contained shall be deemed to authorise the Trustees to spend the income or corpus of

the Trust for any purpose not authorised by these presents.

15. The accounting year of the Trust shall be the financial year ending on 3lst March every

year.

16. The Trust and the Trust funds shall be and irrevocable for all times.

17. The office of the Trust shall be situated at Delhi unless changed by the Trustees by two

thirds majority.

18. It is expressly declared that no part of the Trust property or its income or any accretion

thereto shall be applied for any purpose outside India or for any Purpose which is not a

charitable purpose in law, and all provisions hereof shall be construed accordingly.

In witness whereof the parties hereto have hereunto seen and subscribed their respective

hands, on the day, month and year first mentioned hereinabove.

Witnesses:

1.

2.

 

(Settlor's Signature _____________)

(Trustee's Signatures _____________)

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