✨ Trust Fund Regulations Text
165
tioned and set forth in the hereinbefore recited Act and in such pro-
portions as to any of the said purposes as to them shall seem meet
and shall and may in all things conduct and manage the affairs and
business of the said Trust and enter into make do and execute all
such contracts engagements acts deeds matters and things as may
be necessary or expedient for the disposal and appropriation of the
said Trust Fund and for the conduct and management of the affairs
and business of the said Trust.
-
The said Board of Trustees shall have and use a common Trustees to have a
seal and all deeds and other legal instruments shall be sealed there- common seal.
with in the presence of not less than three of the said Trustees who
shall also affix their signatures thereto and every deed or other
legal instrument so signed and sealed shall be valid and effectual
in the law to all intents and purposes and the party producing such
act or instrument shall not be bound to offer or produce any evi-
dence that such common seal was affixed thereto in such presence
as aforesaid. -
The Trustees and their Secretary respectively shall in no Not to be personally
case be personally liable nor shall the private estates and effects of any liable.
of them be liable for the payment of any monies costs or otherwise in
respect of any contract which shall be made by them or any of
them or for any act deed or matter lawfully done or executed by
them or any of them in their or his official capacity as Trustees or
Trustee or Secretary respectively. -
The Trustees for the time being shall receive amongst Remuneration of
them for their attendance to the duties of Trustees a sum not ex- Trustees.
ceeding in the whole the sum of one hundred pounds but no one
Trustee shall receive any fee for any meeting at which he was not
present nor more than one guinea for any one meeting at which he
shall attend. -
On the 1st of January next and on the 1st of January in Election of Auditors
every succeeding year (except such day shall happen to be Sunday
in which case the election shall take place on the next day) the
electors duly qualified and registered as aforesaid shall elect two
persons who shall be called "Auditors of the Trust Accounts." -
If no Auditors be elected as aforesaid or if only one such In case of no election
Auditor be elected or if any Auditors or Auditor shall die or be- Superintendent to
come incapable of acting or shall decline to act at the prescribed appoint Auditors.
period it shall be lawful for the Superintendent of the Province of
Nelson to appoint an Auditor or Auditors to act as aforesaid and
such Auditor or Auditors shall continue to Act until the next elec-
tion of Auditors. -
On the 10th day of December in every year the said Trustees to prepare
Trustees shall cause the accounts of the said Trust to be balanced a balance sheet.
and a full and fair balance sheet to be made up and previously to
such balance sheet being delivered to the Auditors the same shall
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NZ Gazette 1854, No 31
✨ LLM interpretation of page content
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Provisions for Nelson Trust Funds Elections and Qualifications
(continued from previous page)
🏛️ Governance & Central Administration14 September 1854
Trustees, Regulations, Common Seal, Liability, Remuneration, Auditors, Nelson Province