THIS DEED OF TRUST MADE ON
THIS...................................... day of
................................. at............................
between......................................................................
presently residing at....................................................
(hereinafter called the Author of the Trust) of the one part
and............................................................................................................
presently residing at......................................................................................................
which expression shall whereever the context so admits or requires be deemed to
include the said Trustees and the survivor or survivors of them and the heirs,
executors and administrators of such survivor, their or his assigns and the
Trustees, Trustee for the time being of these presents of the other Part.
WHEREAS the Author of the Trust desires to
establish in perpetuity a fund with the object of (1) Helping poor children by
sponsoring them for higher education. (2) Sponsoring visits of school-children
selected from various schools (3). By providing school uniforms, books, fee
etc. (4) Vocational training, free-coaching for various courses. (5) Old age
home. (6) Shelter for homeless children. (7) Medical facility for poor/rural
people. (8) Plantation. (9) Sports and (10). To render help and assistance to
victims of natural calamities.
AND WHEREAS for the aforesaid purpose of
giving effect to such desire the Author of the Trust has delivered
Rs............. (Rs................. only) to the Trustees with the intention
that they shall hold the said sum and income arising therefrom upon Trust and
subject to the power and provisions hereinafter declared of and concerning the
same which the Trustees have agreed to do.
AND WHEREAS the Trustees have agreed
individually and collectively to act as such and have already taken possession
of the said cash in pursuance of the aforesaid desire of the Author of the
Trust, who has irrevocably transferred and handed over the same to the trustees
for the purposes of the Trust as aforesaid.
NOW THEREFORE THIS DEED OF TRUST DECLARES AND
WITNESSETH-
1. That in pursuance of the premises above
the Author of the Trust as settlor doth hereby convey unto and settle upon the
trustee the cash to hold the same upon Trust and the Trustees do each of them
doth hereby admit and acknowledge the transfer to them with powers and subject
to the uses mentioned hereinafter.
2. That the name of the Trust shall
be.................................. Public charitable trust with its
registered office
at...............................................................................
3. That the trust has been established with
the object of (1) helping poor children by sponsoring them for higher
education. (2) Sponsoring visits of school children selected from various
schools. (3) By providing school uniforms, books, fee etc. (4) Vocational
training, free-coaching for various courses. (5) Old age home.
(6) Shelter for homeless children. (7)
Medical facility for poor/rural people. (8) Plantation. (9) Sports and (10) To
render help and assistance to victims of natural calamities.
4. That the Trustee shall stand possessed of
cash hereby conveyed and settled upon and shall use and apply the interest, the
profit and other income derived thereby for the purpose and object of the Trust
as aforesaid.
5. That the cash hereby conveyed to the
Trustees shall form the corpus of the Trust property but the Trustees shall
have power from time to time to increase or decrease the corpus of the Trust
excepting in exceptional circumstances of need and only on the unanimous
decision in that regard of the Board of Trustees at the material time.
6. That the Trust shall be governed by a
Board of Trustees. The Board of Trustees for the time being shall constitute of
trustees hereinbefore mentioned which is hereby authorized and empowered to
nominate any other person as trustee as long as the total number of the
trustees at any time does not exceed five. In the event of death, incapacity,
insolvency, resignation or refusal on the part of any trustee to act as such,
the remaining trustees shall be entitled to nominate any other person as they
think fit and proper to act as trustee in place of the trustee so dying,
incapacitated, declared insolvent, resigning or refusing to act as such. The
nomination of any person as a trustee shall be either unanimous or by a
majority decision and in the event of the trustees being equally divided on the
nomination of any person, the decision in the matter of the managing trustee
shall be final and conclusive.
7. That the administration of the trust
hereby constituted and the entire control, supervision, regulation, management
of the trust property and even the application of the entire or a part of the
income and the profits thereof as also of all the donations and contributions
and subscriptions, if any, received by it shall vest in the uncontrolled
discretion of the Board of Trustees subject however always to the provisions contained
as hereinbefore.
8. That the Board of Trustees may frame rules
and regulations for the administration of the Trust and for carrying out the
purpose and object thereof and the same may be varied, altered, substituted or
added to from time to time by a unanimous decision of the Board of Trustees
with a view to introduce more effective administration and carrying out the
purpose and the object of the trust. Such rules may specifically provide the
basis or criterion of the selection of the students for the award of the
scholarships in a most benefiting manner, and may even make provision for the
selection of the students for grant of the scholarships by the Education
Department of the State Government in which the engineering or medical college
or university is situate, or else by the college or the university concerned,
subject however always to the condition that in no case such selection shall be
done on the basis of the caste, creed or religion to which any student belongs.
9. That the Board of Trustees shall have
power to accept donations from other in cash only either with or without any
special conditions attached thereto PROVIDED that any such condition does not
contravene the provisions of clause 3 thereof. Subject to the same restriction,
the Board of Trustees may at any time invite and receive from any person or
persons whomsoever periodical contributions or subscriptions for the support
and benefit of the trust hereby constituted and declared.
10. That the Board of Trustees may elect or
nominate any one of them as the Managing Trustee for any period of time, but
the first Managing Trustee shall be................................... and she
shall hold that office and position upto the time of her death, incapacity,
insolvency, resignation or refusal to act as such.
11. That the first meeting of the Board of
Trustees shall be held within three months of the date of the execution of this
deed and shall be summoned by the Author of the trust by giving at least seven
days notice in writing to all the trustees to be held at such place and time as
may be specified in the notice and in that meeting all relevant matters
relating to the trust shall be considered in all possible details and
particularly the ways and the manner to give effect to the provisions of the
deed of trust and to attain the object and purpose of this trust.
12. That the trustees are hereby authorized
and empowered to appoint a secretary to carry out the duties assigned to him in
relation to the execution of this trust and to pay to him out of the trust fund
such salary as the trustees for the time being may think fit, provided that if
any one of the trustees be appointed as the secretary, he shall not be entitled
to receive nor shall be paid any salary. The trustees may also appoint such staff
as they deem expedient and necessary for the purpose of the trust at such
salary as they may decide upon in each case.
13. That subject to the provisions
hereinbefore contained the trustee shall not keep in hand either themselves or
together with the secretary and/or any other employee of the trust or any other
person at any time more than Rs......................... in cash belonging to
the trust fund and all cash belonging to the trust shall be deposited with
the............................. bank or any other scheduled Bank which the
trustees may decide upon. The banking account relating to the trust fund shall
be operated under the signatures of at least two trustees out of which the
Managing Trustee shall be one, but if at any time, there is no Managing Trustee
of the fund as elected or nominated as such then the banking account relating
to the trust shall be operated only under the signatures of all the trustees of
the fund at the material time.
14. That the trustees may in their
uncontrolled discretion deposit for safe custody any documents or securities
relating to or forming part of the trust property with the Bank or banks as
aforesaid on payment of such charges therefor, if any, as may be agreed upon
and found expedient in the interest of the trust.
15. That the meeting of the Board of Trustees
may be held at such time, at such place and on such dates as may be agreed upon
by the trustees. Such meetings may be summoned by any one or more of the
trustees by giving at least seven days notice in writing to all the trustees,
specifying the time, place and the date of the meeting, and also indicating the
purpose of such meeting. But a meeting of the Board of Trustees shall be held
once at least in every year to consider and adopt the accounts of the trust
hereby constituted and the report concerning those accounts as prepared by a
Chartered Accountant after a audit thereof.
16. That the true and proper accounts of all
the receipts and disbursements relating to the trust hereby constituted shall
be kept by the trustees, the secretary thereof and/or the employee(s) of the
trust, who have been assigned the duty in that regard. On or after the 31st day
of March each year an income and expenditure account for the whole year upto
that date and a balance sheet of the assets and liabilities as on that date
relating to the affirs of the trust shall be prepared latest by the 30th day of
June of that year. These accounts and the balance sheet shall be duly audited
and examined by a Chartered Accountant, which may be ‘engaged by the Board of
Trustees for the purpose of such audit on such remuneration as they may deem
necessary and desirable. As soon as may be after such audit, a meeting of the
Board of Trustees shall be held at which the accounts of the trust hereby constituted
and the report of the auditor concerning the same shall be examined and
adopted.
17. That if trustees differ with one another
in respect of any such matter with reference to which they enjoy discretion,
the opinion of the majority of the trustees present and voting at the meeting
shall prevail and shall be binding on all the trustees and in the event of the
trustees being equally divided, the view taken by the Managing Trustee shall
prevail in deciding such matter.
IN WITNESS WHEREOF The Author of the Trust
and the Trustees hereto have set their respective hands on this Deed of Trust
in the presence of witnesses at.................................... on the day
and year first above written.
Witnesses
...................... Author of the Trust
Address: ......................
(Trustee)
Address: ......................
(Trustee)
.....................
(Trustee).
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