Governing document ARABELLA AND JULIAN SMITH FAMILY TRUST
Charity number: 1174447
Charity reporting is up to date (on time)
Governing document
Details of the type of governing document the charity has and when it was established. It is not the full text of the charity's governing document.
TRUST DEED DATED 01 JUN 2016
Charitable objects
3.1 SUBJECT TO THE PROVISIONS OF SUB-CLAUSE 3.2, THE TRUSTEES SHALL HOLD THE CAPITAL AND INCOME OF THE TRUST FUND UPON TRUST TO APPLY THE INCOME, AND ALL OR SUCH PART OR PARTS OF THE CAPITAL, AT SUCH TIME OR TIMES AND IN SUCH MANNER TO OR FOR THE BENEFIT OF SUCH EXCLUSIVELY CHARITABLE OBJECTS AND PURPOSES IN ANY PART OF THE WORLD AS THE TRUSTEES MAY IN THEIR DISCRETION THINK FIT.
3.2 NO APPLICATION SHALL BE MADE BY THE TRUSTEES WITHOUT THE PRIOR WRITTEN APPROVAL OF THE FOUNDER. WHERE THE FOUNDER HAS NOT BY 5 APRIL IN A TAX YEAR APPROVED APPLICATIONS OF THE WHOLE OF THE INCOME ARISING IN THE PREVIOUS TAX YEAR, THE TRUSTEES SHALL APPLY THE BALANCE OF SUCH INCOME FOR OR TOWARDS SUCH CHARITABLE PURPOSES, AT SUCH TIMES AND IN SUCH MANNER AS THE TRUSTEES SHALL IN THEIR DISCRETION THINK FIT.
3.3 NOTWITHSTANDING THE PROVISIONS OF SUB-CLAUSES 3.1 AND 3.2, THE TRUSTEES MAY, IN THEIR DISCRETION, FOR THE PERIOD OF 21 YEARS FROM THE DATE OF THIS DEED, INSTEAD OF APPLYING THE INCOME OF THE TRUST FUND IN ANY YEAR, ACCUMULATE ALL OR ANY PART OF SUCH INCOME BY INVESTING THE SAME AND THE RESULTING INCOME IN ANY INVESTMENTS AUTHORISED BY THIS DEED OR BY LAW AS AN ACCRETION TO AND AS PART OF THE CAPITAL OF THE TRUST FUND, WITHOUT PREJUDICE TO THE RIGHT OF THE TRUSTEES TO APPLY THE WHOLE OR ANY PART OF SUCH ACCUMULATED INCOME IN ANY SUBSEQUENT YEAR AS IF THE SAME WERE INCOME OF THE TRUST FUND ARISING IN THE THEN CURRENT YEAR.
