Victorian Building and Construction Industry Training Fund · PDF fileVictorian Building and Construction Industry ... and Construction Industry Training Fund ... Building and Construction

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NTP.108.026.0592

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2006

Victorian Building and Construction Industry Training Fund

Parties

Master Builders Association of Victoria ACN 004 255 654

Construction Forestry Mining and Energy Union

Victorian Building and Construction Industry Training Fund Pty Ltd ACN 117 991 849

Contact

Robert Bett Partner RAeV Tower, 485 Bourke Street, Melbourne VIC 3000 Telephone: +61 (0)386866609 Email: [email protected] Website: www.deacons.com.au Our ref: 2572625

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NTP.108.026.0593

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Contents ,.,,,.,,,.,,.,,,,,,,,,, '" ~\:" .... ,,~,

1. Definitions and Interpretation .................................................................... 1 2. Membership of the Fund ........................................................................... 7 3. Cessation of Membership ......................................................................... 9 4. Contributions to the Fund ......................................................................... 9 5. Determination by Trustee ....................................................................... 10 6. Payment of Contributions ....................................................................... 10 7. Declaration of Trust ................................................................................ 11 8. Name of Fund ............................................................................ '" ......... 11 9. Application of Trust Fund ........................................................................ 11 10. Distribution of Income ............................................................................. 12 11. Distribution of Capital on the Vesting Date ............................................. 16 12. Advancement of Capital and Benefits ..................................................... 16 13. Distributions to Industry Parties .............................................................. 17 14. Recoupment of Losses ........................................................................... 17 15. Determinations and Proceedings of Trustee ........................................... 18 16. PO\A!ers of Trustee .................................................................................. 19 17. Policies and Rules .................................................................................. 22 18. Accounts and Records ........................................................................... 23 19. Confidentiality of Trustee's Deliberations ................................................ 23 20. Remuneration of Trustee ........................................................................ 23 21. Liability of Trustee .................................................................................. 24 22. Indemnity for Trustee ............................................................................. 25 23. Removal and Appointment of Trustee .................................................... 25 24. Appointment of New Trustee .................................................................. 26 25. Trustee May Appoint Delegates and Agents ........................................... 26 26. Exercise of Discretions and Powers ....................................................... 27 27. Retirement of Member ............................................................................ 27 28. Variation of Trust .................................................................................... 27 29. Interest of Directors of Trustee Corporation ............................................ 28 30. Interest of Trustee .................................................................................. 28 31. Perpetuity Period .................................................................................... 29 32. Determination and Winding Up of Fund .................................................. 29 33. Notices ................................................................................................... 30 34. Law of Trust ........................................................................................... 32

Schedule 1 ............................................................................................. 33 Schedule 2 Application Form .................................................................. 35 Schedule 3 Policies Formulated by Trustee ............................................ 37 Schedule 4 Rules made by Trustee ........................................................ 38 Annexure A Grant Application Form ....................................................... 39 Annexure B Grant Finance Agreement. .................................................. 49

RWBfTRUST DEED Deed of Trust

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Parties Master Builders Association of Victoria ACN 004 253 654 of 332 Albert Street, East Melbourne (MBAV)

and Construction Forestry Mining and Energy Union of 500 Swanston Street, Melbourne (CFMEU)

2006

and Victorian Building and Construction Industry Training Fund Pty Ltd ACN 117 991849 of 80 Drummond Street, Carlton (Trustee)

introduction

A. The Trustee and the Industry Parties have agreed to establish this Fund to facilitate Industry training and to provide other benefits to the Beneficiaries.

B. As a consequence of the agreement referred to in Introduction A, the Industry Parties have also agreed to pay to the Trustee the Settled Sum on the execution of this Deed of Trust.

C. The Trustee has consented to become the trustee of the Fund on the terms and subject to the powers and priorities of this Deed of Trust.

It is agreed

1. Definitions and Interpretation

1.1 Definitions

Unless the context otherwise requires:

(1) Accounting Period means anyone of the following periods:

(a)

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the period from the date of this Deed of Trust to 30 June next;

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(b) each following period of 12 months ending on 30 June in each year until 30 June immediately preceding the Vesting Date; and

(c) the period from 1 July immediately preceding the Vesting Date to the Vesting Date;

but the Trustee may alter the Accounting Period to a period of 12 months ending on any other date and the reference to 30 June and 1 July is in those circumstances altered accordingly;

(2) Application Form means the application form for membership of the Fund, a copy of which is annexed as Schedule 1;

(3) Apprentice means an employee of an employer (other than a Trainee) who is registered as an apprentice with the Victorian Learning and Employment Schools Commission and undertaking a course of training approved by that Commission:

(4) Award means a document endorsed by an Industrial Authority as a source of employment conditions in the Industry;

(5) Beneficiary means any of:

(a) any charitable or educational institution or fund the objects of which are charitable or educational and which is approved by the Trustee as an institution or fund whose objects are likely to benefit Members, Workers or Apprentices or their interests or the interests of the Industry in Victoria, having regard to those interests;

(b) the trustee, in its capacity as such, of a new trust (as defined in clause 16.8): and

(c) the Industry Parties;

(6) Business Day means a day that is not a Saturday. Sunday or any other day which is a public holiday or a bank holiday in the place where an act is to be performed or payment is to be made;

(7) Contract of Employment means any agreement arrangement or understanding (and whether documented or not) under which a Worker is employed and under which a Member is obliged or permitted to make contributions to the Fund (or to a fund substantially of the same sort or character as the Fund) and includes an Industrial Instrument which applies to the Member;

(8) Deed of Trust means this Deed of Trust and includes any variation or amendment to it;

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(9) Determination means a determination made in any of the ways listed in clause 15;

(10) Fund means the Victorian Building and Construction Industry Training Fund established by this Deed of Trust;

(11) Industrial Authority means the Australian Industrial Relations Commission or its successor and any person with power to certify, approve or register an Industrial Instrument;

(12) Industrial Instrument means an agreement:

(a) between an employer or an employer association and a union of employees; or

(b) between an employer and its employees; or

(c) an Award.

whether or not it has been certified by. approved by or registered with an Industrial Authority; .. . . ~

(13) Industry means the building and construction industry;

(14) Industry Parties means MBAV and the Unions;

(15) ITAA means the Income Tax Assessment Act 1936 and the Income Tax Assessment Act 1997;

(16) Member means a person which has been admitted to participation in the Fund. and has not ceased to participate in the Fund as provided by this Deed of Trust (and includes a person deemed to be a Member under clause 2.4);

(17) Net Income means the amount calculated as the net income of the Trust Fund for an Accounting Period in accordance with section 95(1) of the ITM including:

(a) any net capital gain included in the assessable income of the Trust Fund by virtue of the IT M; and

(b) to the extent allowable. any taxation credits available to the Trustee under the ITM including but not limited to:

(i) foreign tax credits;

(ii) prescribed payment tax credits; and

(iii) dividend imputation credits,

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unless the Trustee determines in respect of any Accounting Period that the Net Income for that Accounting Period means the income produced from the investment of the Trust Fund calculated in accordance with established accounting principles and trust law. In respect to any Accounting period;

(18) Perpetuity Period means the perpetuity period mentioned in clause 31;

(19) Redundancy Pay Contribution means a contribution made to the Redundancy Payment Central Fund or to Redundancy Payment Approved Worker Entitlement Fund 1 or to Redundancy Payment Central Fund No.2 or Redundancy Payment Approved Worker Entitlement Fund 2;

(20) Redundancy Payment Approved Worker Entitlement Fund 1 means the fund of that name established by deed of trust made 10 March 2004;

(21) Redundancy Payment Approved Worker Entit!ement Fund 2 means the fund of that name established by deed of trust made 11 August 2004;

(22) Redundancy Payment Central Fund means the fund of that name established by deed of trust made 10 April 1989;

(23) Redundancy Payment Central Fund No.2 means the fund of that name established by deed of trust made 20 October 1995;

(24) Settled Sum means the amount of $20.00;

(25) Trainee means a Worker (other than an Apprentice) who is undertaking any course of training;

(26) Training Agreement, in relation to an Apprentice, means the contract of training (as that expression is used in the Vocational Education and Training Act 1990) under which the Apprentice's employer undertakes to train the Apprentice;

(27) Training Powers means the powers set out in clause 16.2(2)(a)-16.2(2)( d);

(28) Trust means the trusts created by this Deed of Trust;

(29) Trust Fund means:

(a) the Settled Sum;

(b) all money and property paid or transferred to and accepted by the Trustee as additions to the Trust Fund;

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(c) the accumulations of income directed or empowered to be made by this Deed of Trust;

(d) all accretions and additions to the Trust Fund from any source; and

(e) the investments and property representing the Settled Sum, money, property, accumulations, accretions and additions;

(30) Trustee means the trustee or the trustees (if more than one person) for the time being of the Trust, whether originally appointed or substituted;

(31) Unions means:

(a) CFMEU (in its own right and on behalf of its Construction and General Division); and

(b) CFMEU (in its own right and on behalf of its Federated Engine Drivers and Fireman's Association (Victorian Division Branch».

(32) Vesting Date means:

(a) the last day of the Perpetuity Period; or

(b) such earlier date as the Trustee may appoint;

(33) Worker means at any time an employee of a Member in respect of whom the Member makes Redundancy Pay Contributions at that time and includes a Trainee, but does not include an Apprentice.

1.2 Interpretation

(1) Reference to:

(a) "interest' includes any interest, contingent interest or expectant interest of any nature and whether liable to be defeated or diminished by the exercise of any power or by reason of any other matter;

(b) "pay' includes transfer, convey and assign;

(c) "set aside", in relation to a person, includes placing sums to the credit of that person in the books of account of the Fund; and

(d) "income" is not limited to "assessable income" as defined in the ITAA.

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b--/\ IL {2} The powers and discretions conferred on the Trustee may be

exercised by the Trustee at any time and from time to time.

(3) Reference to:

(a) one gender includes the other genders;

(b) the singular includes the plural and the plural includes the singular;

(c) a person includes a body corporate and includes a person (in this extended sense) in the capacity of a trustee;

(d) a party includes the party's executors, administrators, successors and permitted assigns;

(e) a statute, regulation or provision of a statute or regulation ("Statutory Provision") includes:

(i) that Statutory Provision as amended or re-enacted from time to time; and

(ii) a statute, regulation or provision enacted in replacement of that Statutory Provision.

(4) If a party consists of more than one person this Deed of Trust binds them jointly and each of them severally.

(5) "Corporation" has the same meaning as in the Corporations Act 2001.

{6} The schedules form part of this Deed of Trust.

(7) Headings are for convenience only and do not affect the interpretation. or form part, of this Deed of Trust.

(8) Where a word or expression is given a particular meaning, other parts of speech and grammatical forms of that word or expression have a corresponding meaning.

(9) Any references to clauses and schedules are construed as references to clauses of and schedules to this Deed of Trust.

(10) Where not inconsistent with the context and without derogating from each of the Unions in its own right being a party to this Deed of Trust. references to a Union are to be primarily construed as a reference to the division or branch of that Union on whose behalf the Union has purported to enter into and execute this Deed of Trust.


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(11 ) Reference to:

(a) a body which has been reconstituted or merged must be taken to be to the body as reconstituted or merged; and

(b) a body which has ceased to exist and the functions of which have been substantially taken over by another body must be taken to be to that other body.

1.3 Vesting within Perpetuity Period

(1) All powers and dispositions made by or under this Deed of Trust which, but for this provision, would or might be exercisable, vest or take effect after the expiration of the Perpetuity Period are exercisable only until the end of the last day of the Perpetuity Period or vest or take effect on the last day of the Perpetuity Period.

(2) The Trustee must not make a disposition to a Beneficiary being the trustee of a trust or fund (other than a religious charitable or educational institution or fund) unless the trust or fund has a vesting date, or the disposition vests, within the Perpetuity Period.

1.4 Severance

If any provision or part of a provision of this Deed of Trust is or becomes void, invalid or unenforceable for any reason, it must be severed from this Deed of Trust but the remainder of this Deed of Trust continues in full force and effect and is unaffected by the severance.

2. Membership of the Fund

2.1 To be eligible for membership of the Fund, an employer must be a member of at least one of:

(1) Redundancy Payment Central Fund;

(2) Redundancy Payment Approved Worker Entitlement Fund;

(3) Redundancy Payment Central Fund No.2;

(4) Redundancy Payment Approved Worker Entitlement Fund 2.

2.2 An employer may apply to become a Member of the Fund by:

(1) completing an application form in the same form as the Application Form or in a form as near to it as circumstances admit;

(2) lodging the completed Application Form with the Trustee; and


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(3) providing to the Trustee all of the information (if any) requested by the Trustee in any document which accompanies the Application Form.

2.3 Upon completion of the matters referred to in clause 2.2 to the satisfaction of the Trustee and the Trustee approving the application, the employer becomes a Member of the Fund and is bound by the terms and conditions ofthis Deed of Trust.

2.4 Despite any other clause of this Deed of Trust, where an employer has not completed an Application Form and lodged that form with the Trustee but has nevertheless made contributions to the Trustee in accordance with this Deed of Trust then:

(1) if the employer is a member of any of the funds referred to in clause 2.1, that employer shall be and be deemed to be a Member and is bound by this Deed of Trust; and

(2) in any other case, the employer shall be and be deemed to be a Member for the period or periods to which the payment of the Contributions relates.

2.5 Subject to clause 2.1, but despite anything else in this clause 2, the Trustee may in its discretion:

(1) approve or reject any application from an employer to become a Member of the Fund; and

(2) refuse to accept contributions from an employer, which, in its opinion, should not be admitted as a member of the Fund and any contributions made by such an employer prior to being advised of the rejection of its application may, if so resolved by the Trustee, be refunded to that employer.

2.6 A Member must to the extent permitted by law, provide all information requested by the Trustee for the proper and efficient administration of the Fund within the time (if any) specified by the Trustee in making the request including details concerning the Workers employed by the Member.

2.7 If any question arises as to:

(1) the date on which a person entered or left the employ of a Member;

(2) whether or not a Worker is employed by the Member; or

(3) the terms of a Worker's employment generally,


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a certificate of the Member about the matter is prima facie evidence of the facts contained in the certificate for the purposes of this Deed of Trust.

3. Cessation of Membership

3.1 A Member ceases to be a Member of the Fund if the Member is expelled from the Fund.

3.2 If an allegation is made to the Trustee (and whether by a Member, a Worker or any other person) that a Member of the Fund has:

(1) persistently refused or neglected to comply with the provisions of this Deed of Trust or any resolution or decision of the Trustee made under it; or

(2) has persistently or wilfully acted in a manner prejudicial to the interests of anyone or more of the Industry, the Fund, any Worker of the Member, other Members or Workers ("Relevant Conduct"); the Trustee must:

(a) give notice of the Relevant Conduct to the Member;

(b) give the Member at least 14 days after the service of the notice within which to make submissions (which may be written or oral or both) to the Trustee in connection with the Relevant Conduct;

(c) take into consideration any submissions made by the Member in connection with the allegation.

3.3 The Trustee may by resolution expel the Member as a Member of the Fund (or suspend the Member from membership of the Fund) if, after considering the Relevant Conduct and any submissions made in connection with the Relevant Conduct, it is satisfied that the Relevant Conduct occurred.

3.4 If the Trustee expels or suspends a Member, the Trustee must within 7 days after that action is taken advise the Member in writing of the action taken. The Trustee is not obliged to give any reasons for having taken that action.

3.5 The decision of the Trustee is final and the Member has no right of appeal or review.

4. Contributions to the Fund

4.1 A Member must make the following contributions to the Fund for each Worker:

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(1) the sum of $4.50 per week; or

(2) if a higher contribution is payable to the Fund (or to a class or category of fund which includes the Fund) by a Member under an Industrial Instrument which applies to that Member, the amount per week of that higher contribution.

4.2 All contributions made by a Member to the Fund become part of the Trust Fund.

5. Determination by Trustee

5.1 Where a Workers' Contract of Employment or this Deed of Trust does not deal with, or, in the opinion of the Trustee, adequately deal with a particular matter, the Trustee may at any time or times lay down and determine further or other terms and conditions in compliance with which one or some or all Members (being the Members to which the Determination relates) must make contributions.

5.2 In making a Determination under clause 5.1 the Trustee is at liberty to have regard to such matters as it considers to be in the best interests of Workers and Members.

5.3 If the Trustee makes a Determination under this clause the Trustee must give each Member affected by it as soon as practicable after that notice of the Determination and the date on which it was made.

5.4 If there is any inconsistency between a Determination made by the Trustee under this clause and a Contract of Employment, the Determination prevails.

5.5 A Determination by the Trustee under this clause is binding on Members to which it relates from the date on which it was made.

6. Payment of Contributions

6.1 The weekly contribution payable under clause 4 must be paid for any week of Monday to Friday in which Workers are entitled to be paid wages by the Member in respect of the work performed on a construction site and in respect of whom the Member is obliged to make a Redundancy Pay Contribution.

6.2 Each Member must pay these contributions monthly in arrears for a contribution period conSisting either of 4 or 5 weeks, Monday to Friday and pro-rated if a Worker's employment terminates during the contribution period.


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6.3 The contributions payable by a Member to the Trustee under this Deed of Trust must be paid to the Trustee in the manner, at the times, and by such arrangements advised to the Member by the Trustee from time to time for the purposes of this clause provided that such arrangements are consistent with clause 4 and not materially inconsistent with this clause 6.

6.4 Each contribution paid to the Trustee by a Member in respect of a Worker under this Deed of Trust must be accompanied by a statement setting out details of the basis upon which the contribution has been calculated.

6.5 Where a Member does not pay contributions when required to do so under this clause, the Member is liable to pay to the Trustee all costs necessarily incurred by the Trustee in seeking to obtain, and obtaining, any unpaid contributions owing to the Trustee.

6.6 If a Member fails to pay any amount to the Trustee on the due date for payment, that Member must pay to the Trustee interest at the Default Rate on that amount, calculated and payable daily, computed from the due date until the amount is paid in futl.

6.7 The Default Rate is (X + 5% per annum) where X is the interest rate quoted by Commonwealth Bank of Australia ("Bank") as its Overdraft Index Rate ("Published Rate") or, should there cease to be a Published Rate, the rate which the Bank designates as being an appropriate substitute for the Published Rate ("Substitute Rate"). A certificate Signed by a manager or other officer of the Bank stating the Published Rate or the Substitute Rate at a particular date is conclusive evidence of the rate at the particular date.

7. Declaration of Trust

7.1 The Trustee declares that it will hold the Trust Fund on the trusts, and with and subject to, the powers and provisions contained in this Deed of Trust.

8. Name of Fund

8.1 The Trust created by this Deed is to be known as the Victorian Building and Construction Industry Training Fund.

9. Application of Trust Fund

9.1 The Trustee must hold the Trust Fund and the income of the Trust Fund derived in each Accounting Period on trust to payor apply the income and the capital of the Trust Fund in meeting all outgoings, costs, expenses, losses or liabilities incurred in the administration or conduct of the Fund, the conduct or carrying out of any of the activities authorised by this Deed of Trust or otherwise to be conducted or carried on by the Trustee


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(including the exercise by the Trustee of the Training Powers) and after that in accordance with clause 10 (in relation to the income of the Trust Fund) and clauses 11 and 12 (in relation to the capital of the Trust Fund) in each case subject to clause 13. .

9.2 Despite {and in addition to the rights and powers conferred on the Trustee by} clauses 10 and 12, the Trustee may payor apply or authorise a person to retain, the whole or any part of the Trust Fund and of the income of the Trust Fund derived in each Accounting Period to any person which has made a grant or grants to the Fund, but so that the aggregate amount so paid or applied or retained at any time does not exceed the aggregate amount of the grants made to the Fund by that person up to that time.

10. Distribution of Income

10.1 Before the expiration of any Accounting Period, the Trustee may determine in respect of all or any part of the Net Income for that Accounting Period:

10.2

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(1) to pay, apply or set aside the same to or for anyone or more of the Beneficiaries in existence at the time of the Determination to the exclusion of the others of them and in such proportions as the Trustee thinks fit; or

(2) to accumulate the same.

The Trustee may exercise the discretion contained in clause 10.1 after the expiration of the Accounting Period if the Commissioner of Taxation accepts a Beneficiary in whose favour the Trustee has exercised the discretion is presently entitled to the income in the Accounting Period to which the distribution relates. If not, the purported exercise of the discretion after the expiration of the Accounting Period is ineffective.

If the Trustee does not exercise the discretion contained in clauses 1 0.1(1) and 1 0.1{2) (or to the extent to which the Trustee does not exercise or does not effectively exercise that discretion), the Trustee holds the Net Income for the Accounting Period on trust for the Industry Parties in existence on the last day of Accounting Period and if more than one then as to 50% for MBAV and as to the balance for the Unions (equally between them).

10.4 The following provisions apply to any Determination made under this clause 10:

(1) A Determination to pay, apply or set aside any part of the Net Income may be made subject to such terms and conditions as the Trustee determines {including a term or condition that that part of the Net Income (or any portion of that part) be used by a

RwsrrRUST DEED (AMENDED 010306) Deed of Trust 12

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Beneficiary only for one or more of the purposes set out in clauses 16.2{2)(a)-16.2(2)(d)).

(2) The Trustee is entitled to regard a term or condition as satisfied if a Beneficiary agrees with the Trustee (in any form of agreement acceptable to the Trustee) to satisfy that term or condition, and the Trustee is not bound to see to the application of that part of the Net Income.

(3) A Determination to pay, apply or set aside any part of the Net Income may be effectually made and satisfied by:

(a) placlng the amount to the credit of a Beneficiary in the books of account of the Trust;

(b) drawing a cheque for the amount made payable to or for the credit or benefit of a Beneficiary;

(c) paying the amount over to or for the benefit of a person in such manner and to such person on behalf of the Beneficiary as the Trustee thinks fit;

(d) a resolution of the Trustee that a sum out of or portion of the Net Income or the whole of Net Income for the Accounting Period be paid, applied or set aside to or for a Beneficiary or otherwise dealt with for the benefit of a Beneficiary specified in the resolution; or

(e) any other method provided by clause 15.

(4) Subject to clause 10.4(8) any resolution of the Trustee under clause 10.4(3){d) is irrevocable and the Net Income must be dealt with as required by that resolution.

(5) The Trustee may:

(a) identify and segregate income from different sources or of different natures for the purpose of dealing with it separately; and

(b) where the income of an Accounting Period is directly or indirectly derived from different sources, in making a Determination to pay, apply or set aside income for a Beneficiary or to accumulate the same, determine from what source that income is derived.

(6) The Trustee may make separate Determinations to pay, apply or set aside any amount of a particular nature or character or from a particular source in the manner described in clause 10.1 (1 ).

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(7) The validity of any Determination to accumulate income is conditional upon the law in force in relation to this Deed of Trust permitting the accumulation at the end of the Accounting Period to which the Determination relates and except as provided in clause 10.4(8) is irrevocable.

(8) If at the end of any Accounting Period the amounts in respect of which Determinations have been made under clause 10.1 exceed the Net Income for that Accounting Period, the amount of the excess must be deducted from those amounts which the Trustee has determined to accumulate and only the balance of the amounts is accumulated. If any deficiency remains. the Trustee may amend the Determinations so as to eliminate the deficiency, except that, to the extent to which the amount has already been paid to or for the benefit of a Beneficiary. the Trustee is deemed to have applied the Capital of the Trust Fund to the Beneficiary under clause 12.

10.5 (1) The Trustee may create a separate account in respect of:

(a) any particular type or source of Net Income including but not limited to:

(i) income attributable to capital gains included in the assessable income of the Trust Fund for the purposes of the IT M;

(ii) income derived from carrying on or being engaged in the business of primary production as defined in the ITM;

(iii) income attributable to dividends whether generally or of a particular corporation or franked (including any amount included in the assessable income of the Trust Fund under section 160AQT(1) of the ."""A"'\ __ .. __ E ___ '-_-1 ___ J.L __ •• ! __ ~

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(iv) income derived from rental of property;

(v) interest:

(vi) income which is foreign source income for the purposes of the IT M; and

(vii) income not falling within any other class;

(b) any taxation credits available to the Trustee under the IT M including but not limited to foreign tax credits. prescribed payment tax credits and dividend imputation credits;

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and upon receipt of that type or source of Net Income or taxation credit, the Trustee may pay the money into or apply the credit against the appropriate separate account.

NTP.108.026.0608

(2) Any amount paid, applied or set aside to or for a Beneficiary out of such a separate account:

(a) retains its character; and

(b) is of the same type, nature and substance in the hands of the Beneficiary as it was in the hands of the Trustee.

(3) The Trustee may determine the particular type or source of the Net Income or account against which the losses and outgoings incurred in deriving the Net Income paid into the separate account or capital loss calculated under division 102 or division 104 of the ITAA are set-off.

10.6 The powers granted to the Trustee by clauses 10.4(5), 10.4(6) and 10.5 do not cease and are not diminished or rendered ineffective in their exercise or effect by virtue of any income of the Trust Fund which has or is capable of having some special status or character for the purposes of the IT AA having been derived by or coming into the possession of the Trustee and having been mixed mingled or joined with other income of the Trust Fund. so long as it can be traced in equity.

10.7 Any income which the Trustee accumulates is and must be dealt with as an accretion to the capital of the Trust Fund, but if it has been identified and segregated as income of a particular nature or character or from a particular source it retains its character and the Trustee may payor apply the whole or any part of it as if it had not been accumulated and remained part of the Net Income for the current Accounting Period.

10.8 The following amounts do not form part of the Trust Fund:

(1) any amount set aside for a Beneficiary; or

(2) any amount held by the Trustee in a separate trust for a Beneficiary under clause 10.9.

10.9 Upon setting aside an amount for a Beneficiary, that amount is held by the Trustee as a separate trust fund in trust for that Beneficiary absolutely.

10.10 Pending payment over to a Beneficiary of the amount held by the Trustee in accordance with clause 10.9, the Trustee has power:

(1) to invest, apply or deal with the whole or any part of that fund or any resulting income from it in the manner provided for in clause 16; and


17

NTP.108.026.0609

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(2) to exercise all the other powers referred to in clause 16.

10.11 The Beneficiary (if any) for whom income is held or to whom the income is distributed or paid or for whom it is applied or set aside in accordance with the provisions of this clause 10 is or is deemed to be presently and absolutely entitled to that income.

11. Distribution of Capital on the Vesting Date

11.1 As from the Vesting Date (or from the dissolution or determination of the Trust Fund under clause 32.3), the Trustee holds the Trust Fund and its income:

(1 ) for anyone or more of the Beneficiaries to the exclusion of the others of them and in such proportions as the Trustee may determine, which Determination may be either revocable or irrevocable. A revocable Determination becomes irrevocable at the end of the day preceding the Vesting Date;

(2) if the Trustee does not (or to the extent to which it does not effectively) exercise its discretion under clause 11.1 (1), for the Industry Parties in existence at the Vesting Date and, if more than one then as to 50% for MBAV and as to the balance for the Unions (equally between them).

12. Advancement of Capital and Benefits

12.1 The Trustee may:

(1 )

(2)

(3)

determine that any real or personal property for the time being forming part of the Trust Fund or that any part of the Trust Fund is held for the benefit of a Beneficiary absolutely;

+"'''':'IIr't.~ft:'llo ... f-hn ulh"le '""1" ~""\I' t"'\~"" "f +"'~ T ... i i~" t:i I~"'" ",. *"" ..... '1 A* tf. Af 4-h_ LI GU l~lwl U I'W- VVII\JIU \.II Qlll pat .. VI U Iv I J U.;:H, , Y.I\,,4 Vl !Jay vu\, VI lilt:;

capital of the Trust Fund any sum to any Beneficiary for that Beneficiary's own use and benefit or apply the same to or for the benefit of that Beneficiary in such manner as the Trustee thinks fit and. for that purpose. may raise the sum out of the capital of the Trust Fund in such manner as the Trustee thinks fit;

lend any sum out of the Trust Fund and any money held in trust under this Deed to any Beneficiary. either with or without security and upon such terms and conditions as to repayment and with or without interest as the Trustee thinks fit.

12.2 The Trustee may appropriate any part of the Trust Fund or any asset of the Trust Fund in specie or in the actual condition or state of investment of that asset in or towards the satisfaction of the whole or any part of any

RwsrrRusT DEED Deed of Trust 16

18

NTP.1 08.026.061 0

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sum which the Trustee may determine to payor apply to or for the benefit of any Beneficiary under clause 12.1.

12.3 In making an appropriation under clause 12.2, the Trustee may estimate the value of the component parts of the Trust Fund or employ another person to make the valuation.

12.4 Every valuation and appropriation made under clauses 12.2 and 12.3 is final and binding on all persons interested in the Trust Fund even though:

(1) they are not yet in existence or are under a legal disability; and

(2) the Trustee or any person who is a director or shareholder of the Trustee is beneficially interested, either directly or indirectly, as a result of the exercise by the Trustee of the power of appropriation.

12.5 A Determination to pay, apply. transfer or lend any part of the Trust Fund under this clause may be made subject to such terms and conditions as the Trustee determines (including a term or condition that that part of the Trust Fund (or any portion of that part) be used by a Beneficiary only for one or more of the purposes set out in clauses 16.2{2}(a)-16.2(2)(d».

12.6 The Trustee is entitled to regard a term or condition as satisfied if a Beneficiary agrees with the Trustee (in any form of agreement acceptable to the Trustee) to satisfy that term or condition, and the Trustee is not bound to see to the application of that part of the Trust Fund.

13. Distributions to Industry Parties

13.1 Unless all Industry Parties agree otherwise, any amounts paid, applied, transferred or lent to the Industry Parties under clauses 10, 11 or 12 by the Trustee must be paid, applied, transferred or lent to the Industry Parties as to 50% for MBAV and as to the balance for the Unions (equally between them).

14. Recoupment of Losses

14.1 Where the Trustee suffers a loss for taxation purposes in any Accounting Period arising from or in relation to allowable deductions claimed or claimable under sections 79E, 790A, 79F, division 36 or division 375 of the IT AA or otherwise, the Trustee is not required to recoup that loss out of the corpus of the Trust Fund.

14.2 Losses which relate to previous Accounting Periods may be recouped out of profits or corpus or both, as and to the extent that the Trustee determines.

RWBrrRusT DEED Deed of Trust 17

19

NTP.108.026.0611

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15. Determinations and Proceedings of Trustee

15.1 Any Determination by the Trustee in exercise of any power, discretion or authority conferred on the Trustee by this Deed of Trust may be made:

15.2

15.3

15.4

15.6

(1) in writing signed by the Trustee or (if there is more than one Trustee) by all Trustees;

(2) by a resolution duly passed at a meeting of the Trustee;

(3) in the case of a corporate trustee, in the manner set out in clause 15.2;

(4) by oral declaration recorded in the minutes of the Trustee;

(5) by oral declaration which is not published to any other person, in which case a certificate by the Trustee is prima facie evidence that the Determination was made as and when set out in the certificate; or

(6) by payment to or for the benefit of a person with the intention of distributing to the person the share of income or capita! of the Trust represented by the payment.

A Trustee being a corporation may exercise or concur in exercising any discretion or power conferred on the Trustee by a resolution of the corporation or of its directors or governing body or (not being a sole Trustee) by its representative appointed for the purpose of attending meetings of the Trustee.

The Trustee, if at any time they are more than one, must act jOintly.

A sole Trustee may act as Trustee irrespective of whether previously there had been more than one Trustee.

The Trustee may pay any sum to \A/hich any reliQlous t charitable or educational institution or fund may become entitled or to which the Trustee desires to make any payment under this Deed of Trust to the secretary, treasurer or other proper officer of that body or fund for the time being without being bound to see to its further application.

As between the Trustee and a Union, any thing (including executing and if necessary delivering documents) done or which purports to be done by or in the name or on behalf of the division or branch of that Union (or by or in the name or on behalf of an officer of that division or branch) on whose behalf the Union has purported to enter into and execute this Deed of Trust, binds the Union, and the Trustee may act or rely on that thing as having been done by the Union in its own right.

RWBITRUST DEED Deed of Trust 18

20

NTP.108.026.0612

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15.7 Without limiting clause 15.6, any receipt for payment given by or in the name or on behalf of the division or branch of a Union on whose behalf the Union has purported to enter into and execute this Deed of Trust is a complete discharge to the Trustee for that payment.

16. Powers of Trustee

16.1 General Power

(1) The Trustee has all the powers over and in respect of the Trust Fund and the assets of the Trust Fund including carrying on business on behalf of the Trust and using the assets and credit of the Trust and doing anything else on behalf of the Trust which it could exercise and do if it was the absolute and beneficial owner of the Trust Fund and the assets of the Trust Fund.

16.2 Particular Powers

(1) Without limiting the general power contained in clause 16.1 the Trustee has the particular powers referred to in Schedule 1.

(2) In addition to the other powers conferred on the Trustee under this Deed of Trust and the powers conferred on trustees by law, the Trustee also has power to:

(a) provide education and training to Members, Workers and Apprentices and other participants in the Industry (including officers and employees of the Industry Parties);

(b) fund or otherwise facilitate the provision of that education and training by others;

(c) directly or indirectly advance the education and training of those Members, Workers, Apprentices and other participants (including by the provision of or funding the cost of services or infrastructure or both);

(d) directly or indirectly advance the standards and consciousness of occupational health and safety in the Industry

(3) Nothing in 16.2(2) limits anything else in this Deed of Trust.

16.3 Statutory Powers

(1 ) The Trustee has the powers conferred by the Trustee Act 1958 or otherwise by law except where they are inconsistent with the powers conferred by this Deed of Trust.

RWBfTRUST DEED Deed of Trus! 19

21

(2) Where a power is conferred by this Deed of Trust which is similar to. but larger than, a power conferred by the Trustee Act 1958, it operates and is exercisable without any limitation or restriction imposed by the Trustee Act 1958 on that statutory power.

16.4 Use of Fund by Trustee

(1) The Trustee may use all or part of the Net Income or of the Trust Fund and its income or of the assets of the Trust Fund in or towards the exercise by the Trustee of any of its powers.

NTP.108.026.0613

(2) All persons claiming any interest in the income, the capital or the Net Income of the Trust Fund are deemed to take it with and subject to notice of the rights of the Trustee under this clause. and clauses 9.1 and 9.2.

16.5 Dealings with Trustee

The Trustee may:

(1) sell, transfer, hire, lease or dispose of any rea! or personal property of the Trust Fund or lend or advance any money to the Trustee in its personal capacity or as trustee of any other trust fund or to any corporation or partnership even though the Trustee is a shareholder, director, member or partner of the corporation or partnership;

(2) buy, transfer, acquire. hire or lease any real or personal property or borrow any money from the Trustee in its personal capacity or as trustee of any other trust fund or from any corporation or partnership even though the Trustee is a shareholder, director, member or partner of the corporation or partnership;

(3) carry on or carry out any profit making undertaking or scheme in partnership with the Trustee in its personal capacity or as trustee of any other trust fund or "vith any corporation or partnership even though the Trustee is a shareholder, director, member or partner of the corporation or partnership;

(4) generally deal with the Trustee in its personal capacity in all respects as if there were two separate parties to the dealings; and

(5) sell to itself in its capacity as trustee of any other trust fund, either for cash or upon terms, any assets being shares or a joint or undivided interest in property where other shares in the same property are held by the Trustee in that other capacity and divide assets in specie between the Trust Fund and the other trust funds in such manner as the Trustee thinks fit.

RWBJTRUST DEED Deed ofT rust 20

22

NTP.108.026.0614

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16.6 No Account to Beneficiaries

Neither the Trustee nor the other party to any transaction referred to in clause 16.4 is required to account to any other person for any profit arising out of the transaction and the other party is not a trustee for any other person of any property or interest the subject of the transaction.

16.7 Joining Funds

The Trustee is not obliged to join the Trust Fund with any other trust fund referred to in any other deed of settlement so as to cause any two or more trust funds to become one trust fund but the Trustee may keep the Trust Fund entirely separate and distinct from any other trust fund.

16.8 Resettlement

(1) Subject to clause 16.9, the Trustee may determine to payor set aside with or without consideration, the whole or part of the Trust Fund to or for a trustee ("new trustee") for the time being of another trust ("new trust") whether or not the new trust is in existence at the date of this Deed of Trust provided that:

(a) anyone or more of the Beneficiaries of the Trust has an interest in the capital or income of the new trust or a right as a discretionary object similar to any right which a Beneficiary may have under this Trust; and

(b) the objects for which the new trust is established are determined by the Trustee to be objects likely to benefit Members, Workers or Apprentices or their interests or the interests of the Industry in Victoria, having regard to those interests,

(2) upon such payment or setting aside to the new trust, the moneys or property so paid or set aside will be held by the new trustee freed and discharged fforn the trusts of this Deed of Trust and on the terms of the new trust as an addition to the property comprised in the new trust without the Trustee being bound to see to the application of those moneys or property;

(3) any such resettlement will bind all persons who are bound under this Deed of Trust. Where the Trustee is also the new trustee it may at any time declare that it holds the Trust Fund or part of the Trust Fund as trustee of the new trust and the Trust Fund or part of the Trust Fund is to be taken to have been paid or set aside to or for it as new trustee and held on the terms of the new trust and will take effect accordingly.

RWSffRUST DEED Deed of Trust 21

23

16.9 Restriction on Re-settlement

No resettlement pursuant to clause 16.8 may:

(1) divert or modify a vested interest of a Beneficiary in income or capital or the investments representing the same or income derived from any such investment to which that Beneficiary has become absolutely entitled pursuant to this Deed of Trust; or

NTP.108.026.0615

(2) infringe any applicable law or rule against perpetuities or relating to remoteness of vesting or the period during which income may be accumulated or otherwise extend the termination date or result in any provision of the Trust becoming void.

16.10 Creation of Separate Funds

The Trustee may create separate funds within the Trust Fund which will operate as sub-funds in accordance with this Deed of Trust but which will be separate trusts for purposes of the Deed of Trust. The Trustee may establish boards of management and create a!! necessary delegations and authorities so that each sub-fund operates as though it were a separate fund.

17. Policies and Rules

17.1 For the purpose of paying or applying the income or capital or the Trust Fund under clause 9 or clause 16 (and in particular, in relation to the exercise by the Trustee of the Training Powers). the Trustee may formulate policies, make rules in connection with those policies and revoke or vary a policy or rule and formulate others.

17.2 The policies formulated and rules made by the Trustee as at the execution of this Deed of Trust are those contained in Schedule 3 (Policies) and Schedule 4 (Rules).

17.3 A revocation or variation of a policy or rule or the formulation of a new policy or the making of a new rule is not an amendment of this Deed of Trust.

17.4 If the trustee of the Redundancy Payment Central Fund revokes or varies the rules and policies of that fund relating to grants, the Trustee must as soon as practicable revoke or vary the policies and rules contained in Schedule 3 (Policies) and Schedule 4 (Rules) to be consistent with those of the Redundancy Payment Central Fund.


24

NTP.108.026.0616

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18. Accounts and Records

18.1 The Trustee must keep complete and accurate books of account and records of all receipts and expenditures on account of the Trust Fund.

18.2 Promptly after the close of each Accounting Period, the Trustee must prepare a written accounting report (prepared in accordance with generally accepted accounting principles and procedures) for the period consisting of a statement of income and expenditure and a balance sheet.

18.3 A copy of the accounting report and the financial statements for the immediately preceding Accounting Period and a list of the assets held at the close of the Accounting Period, including the names and addresses of all persons having custody of the assets, must be given upon request to any of the Industry Parties.

19. Confidentiality of Trustee's Deliberations

19.1 In addition to any right of the Trustee under the general law to refuse disclosure of any document or matter, the Trustee is not required to disclose to any person or Beneficiary:

(1) any document disclosing any deliberations of the Trustee as to the manner in which the Trustee should exercise any power or discretion conferred upon the Trustee by this Deed of Trust or disclosing the reasons for any particular exercise or non-exercise of any power or discretion or the material upon which those reasons were or might have been based;

(2) any other document relating to the exercise or proposed exercise of any power or discretion conferred on the Trustee by this Deed of Trust (not being legal advice obtained by the Trustee at the cost of the Trust Fund); or

(3) any reason fer any exercise or non-exercise of any pO'vver or discretion.

20. Remuneration of Trustee

20.1 Any Trustee may charge and retain out of the Trust Fund such trustee's commission as is reasonable or as is usually charged by trustees.

20.2 A Trustee being a solicitor, accountant or other professional person:

(1) may be employed to transact any business or do any act required to be done in connection with the Trust; and

RWBfTRUST DEED Deed ofTrusl 23

25

..

NTP.108.026.0617

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(2) is entitled to be paid all proper costs, charges and expenses for any professional business or act done by him or her or his or her firm in relation to the execution of the Trust which he or she would have been entitled to receive in respect of the business if he or she had not been a Trustee.

20.3 The Trustee, and where the Trustee is a corporation, an officer of the Trustee:

(1) may be appointed to act as director or other officer of any corporation or unit trust in which money forming part of the Trust Fund is invested; and

(2) is entitled to receive and retain for the Trustee's or officer's own use all sums paid by way of remuneration and reimbursement of expenses by the corporation or unit trust for acting in the capacity of director or other officer.

21. Liability of Trustee

21.1 No Trustee, and where the Trustee is a corporation, no officer of the Trustee, is liable for any loss or damage occasioned to the Trust Fund or to any person by:

(1) the exercise of any discretion or power conferred by this Deed of Trust or by law on the Trustee or any failure to exercise any of those discretions or powers;

(2) any breach of duty or trust, unless it is proved to have been committed, made or omitted in personal, conscious and fraudulent bad faith by the Trustee or the officer respectively; or

(3) any disclosure by the Trustee or the officer of any document, matter or thing relating to the Trust, the Trust Fund or any Member Of Worker.

21.2 All persons claiming any interest in the income, the capital, the Net Income of the Trust Fund are deemed to take it with and subject to notice of the protection conferred by this clause 21.

21.3 The Trustee is not bound to take any proceeding against a co-trustee for any breach or alleged breach of trust committed by the co-trustee.

21.4 Where the Trustee acts in reliance upon the advice of any expert or professional obtained in relation to the interpretation of the provisions of this Deed of Trust or any document or statute or any matter concerning the administration of the Trust, the Trustee is not liable to any person in respect of any act done or omitted to be done by the Trustee in accordance with the advice.

RwsrrRuST DEED Deed of Trust 24

26

NTP.108.026.0618

22. Indemnity for Trustee

22.1 Subject to clause 21.1 (2), the Trustee and each director and officer of the Trustee is entitled to be indemnified out of the Trust Fund against liabilities incurred by the Trustee or by him or her in the execution or attempted execution or as a consequence of the failure to exercise any of the trusts, authorities, powers and discretions of this Deed of Trust or by virtue of being the trustee of the Trust or a director or officer of the Trustee of the Trust.

22.2 The Trustee is not entitled to be indemnified by the Industry Parties or by any person personally in respect of any liabilities, expenses, debts or other matters referred to in this Deed of Trust or applicable by law.

22.3 The Trustee is entitled to be reimbursed from the Trust Fund for all money expended and debts incurred in or about the administration of the Trust.

22.4 The Trustee may apply the Trust Fund or any money or property comprising the Trust Fund as it may decide to satisfy the rights of reimbursement or indemnity to which the Trustee is entitled.

22.5 Each indemnity conferred under this Deed of Trust is a continuing obligation and will survive the termination of this Deed of Trust.

22.6 It is not necessary for any person entitled to the benefit of an indemnity under this Deed to incur expense, or make payment, before enforcing a right of indemnity conferred by this Deed of Trust.

23. Removal and Appointment of Trustee

23.1 The Industry Parties may by instrument in writing appoint a new Trustee in the place of any Trustee who:

(1) resigns as Trustee; or

(2) ceases to be a Trustee for any reason.

23.2 The statutory and other rights of removing and appointing the Trustee may be exercised by the Trustee or by the legal personal representative or the liquidator of the last trustee of the Trust

23,3 A person becoming a Trustee may accept the account rendered and the property delivered to him or her by the continuing Trustee or his or her predecessors in office without being bound to enquire any further as to the assets of the Trust Fund.

23,4 Any person ceasing to be a Trustee may be given a full and complete discharge by the continuing Trustee or a new Trustee,

RWBfrRUST DEED Deed of Trust 25

27

NTP.108.026.0619

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............................ " ................ ~:.\ .. '" ..... ).~ ..... . 24. Appointment of New Trustee

24.1 The Trustee may by instrument in writing appoint a new Trustee in addition to or in place of the Trustee at any time.

24.2 On the appointment of a new Trustee in the place of the Trustee, the Trustee replaced is discharged from all future responsibility in respect of the Trust.

25. Trustee May Appoint Delegates and Agents

25.1 Without limiting clause 16.2, the Trustee may delegate any trust or power exercisable by the Trustee (including one which the Trustee may have a duty to exercise or perform and the power of delegation) to any person in such manner and upon such terms and conditions as the Trustee thinks fit. The Trustee may vary or revoke any such delegation as the Trustee thinks fit. The Trustee may exercise any power in conjunction with or to the temporary or permanent exclusion of a delegate.

25.2 The Trustee is not bound in any case to act personally but is at full liberty to engage a contractor, manager, solicitor, accountant, clerk, workman, employee, servant or agent to transact all or any business of whatever nature required to be done in respect of the affairs of the Trust including the receipt and payment of money and the Trustee may in its discretion determine the remuneration to be allowed and paid and the charges and expenses to be reimbursed to a person so engaged.

25.3 Subject to this Deed of Trust, the Trustee may:

(1) appoint from time to time such one or more persons, firms or companies as the Trustee thinks fit to act either as custodian or investment manager or both subject to such conditions as the Trustee may from time to time determine;

(2) delegate to; and confsr upon, each custodian or investment manager those authorities, powers and discretions as the Trustee thinks fit; and

(3) remove from time to time any custodian or investment manager appointed under clause 25.3(1).

25.4 The Trustee is not:

(1) liable or responsible for any act, omission, error of judgment, negligence or breach of trust of any custodian or investment manager appOinted under clause 25.3( 1 ); and

(2) bound to take proceedings against any custodian or investment manager in respect of the matters referred to in clause 25.4(1).


28

, .

NTP.108.026.0620

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25.5 The Trustee may payout of the Trust Fund to any custodian or investment manager appointed under clause 2S.3(1) such remuneration for his, her, its or their services as the Trustee considers proper.

25.6 No custodian or investment manager appointed under clause 2S.3{1} will be entitled to take part in the proceedings or deliberations of the Trustee.

26. Exercise of Discretions and Powers

26.1 Except where otherwise specified in this Deed of Trust, every discretion vested in the Trustee is absolute and uncontrolled.

26.2 Every power vested in the Trustee is exercisable at the absolute and uncontrolled discretion of the Trustee.

26.3 The Trustee may by instrument in writing, revocable or irrevocable, wholly or partially release, abandon or restrict any power conferred on the Trustee by this Deed of Trust.

27. Retirement of Member

27.1 The participation of a member in the Fund may be terminated upon the Member giving twelve (12) month's notice in writing to the Trustee of its intention to cease participation in the Fund but only if:

(1) the Member is not in arrears in respect of its Contributions; and

(2) the Member at the expiration of the notice has no Workers.

27.2 The participation in the Fund by such a Member shall cease as from the expiration of the twelve (12) month notice period.

27.3 In the event of the termination of the participation of a Member in the Fund "'1'\ f"rih .. r ,.. ..... ntrih"ti ..... n., ",r= tn ht> m.:.A .. 1"1\1 tht> I\II""mhl'>1' ""YI"Ant .'v 1\04~ 1.11"""'. ""'V""II .... ~"f....,tIV _1_ .. .." __ .11 ____ ; .. ,'_ '.'_'l" __ ~ -, ... V-t"'~

contributions which were due on or before the date of cessation as a Member.

27.4 Notwithstanding that an employer has previously ceased to be a Member, that employer shall, if it wishes to be a Member, apply to be readmitted as a Member and must comply with all of the requirements of clause 2.

28. Variation of Trust

28.1 The Trustee may by Determination (revocable or irrevocable) revoke, add to or vary all or any of the trusts, powers, terms and conditions contained in this Deed of Trust (or the trusts, powers, terms and conditions contained in any variation, alteration or addition made to this Deed of


29

NTP.108.026.0621

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Trust) and may, by the same or any other Determination, declare any new or other trusts, powers, terms and conditions concerning the whole or any part of the Trust Fund.

28.2 The Determination may state the date from which the various alterations or additions take effect. This date may be earlier or later than the date on which the Determination is made, and the variations, alterations or additions take effect from the date so stated. If no date is stated then the variations, alterations or additions take effect from the date the Determination is made.

28.3 No revocation, addition or variation may:

(1) affect the beneficial entitlement to any amount set aside for any Beneficiary prior to the date of the variation. alteration or addition; and

(2) have the effect of extending the Vesting Date beyond the Perpetuity Period.

28.4 Subject to clause 28.3 any revocation, addition or variation may:

(1) vary all or any of the powers or provisions contained in this Deed of Trust (or in any variation of this Deed of Trust);

(2) add any persons or class of persons as Beneficiaries; or

(3) exclude any persons or class of persons as Beneficiaries.

28.5 Where in the opinion of the Trustee a material amendment is made to the Deed of Trust the Trustee must give to each Beneficiary, as soon as practicable after the amendment, a statement in writing explaining the nature and purposes of the amendment.

29. Interest of Directors of Trustee Corporation

29.1 If the Trustee is a corporation, any person being a director or shareholder of the corporation may be directly or indirectly interested in the mode or result of exercising the powers and discretions of this Deed of Trust without affecting the validity of the exercise of the powers and discretions.

30. Interest of Trustee

30.1 The Trustee may exercise or concur in exercising all powers and discretions contained in this Deed of Trust or otherwise by law conferred even though:


30

NTP.108.026.0622

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(1) the Trustee or any person being a director or shareholder of the Trustee (being a corporation) may:

(a) have a direct or personal interest (whether as trustee of any other settlement or in a personal capacity or as a director or shareholder of any corporation or otherwise) in the mode or result of exercising the power or discretion; or

(b) benefit either directly or indirectly as a result of the exercise of the power or discretion; and

(2) the Trustee is the sale Trustee.

31. Perpetuity Period

31.1 The Perpetuity Period applicable to all dispositions made by this Deed of Trust is whichever is the shorter of:

(1) the period of 80 years commencing on 1 April 2003; or

(2) the period expiring 21 years from the death of the last survivor of the descendants now living of His late Majesty King George VI.

32. Determination and Winding Up of Fund

32.1 The Fund commences on the date of this Deed of Trust and. subject to the provisions of this Deed of Trust, determines on the Vesting Date.

32.2 Despite clause 32.1, the Fund may be continued in operation or existence for such period as may be agreed between the Trustee and the Industry Parties if the Trustee and the Industry Parties agree that continuation of the Fund appears to be in the interests of the Industry in Victoria, or of Members or Workers provided that any such continuation would not in the Trustee's opinion give rise to any breach of the !egal rule against perpetuities or remoteness of vesting of property insofar as that rule applies to the Fund.

32.3 Despite clauses 32.1 and 32.2:

(1) the Fund must be determined if in the opinion of the Trustee the Fund should be determined because it is insolvent, or it is inexpedient or impractical for the Fund to continue, and such determination takes effect as at the date nominated by the Trustee;

(2) a party ("Proposer") may at any time by notice in writing to each of the other parties request that each of the other parties consents to the dissolution or determination of the Fund. Each of the other

RWBfTRUST DEED Deed oft rust 29

31

NTP.108.026.0623

~-,,~"'~~-, , •. vvu,",,· .. , • ..;:> U 1.. .......... ..... vf:"j :1!7j,' ",,;;(:al

d2.! .\"-!.!ti't v

...... " ........ b.-': ....... ~ .... ..

parties has 6 months from the date of service of the notice in which to consider the request and notify the Proposer of their decision. If a party fails to notify the Proposer of its decision than it is deemed to have agreed to the proposed dissolution or determination of the Fund. If all the parties agree (or are deemed to agree) the Fund will be determined or dissolved upon the expiration of six (6) months after the unanimous agreement to dissolve or determine the Fund has been reached.

32.4 Nothing in this clause limits the right of the Trustee to appoint a date earlier than the last day of the Perpetuity Period as the Vesting Date.

32.5 On termination or dissolution of the Fund the Trustee, the Industry Parties and each Member must execute such release or releases (if any) in favour of the others of them in respect of claims on account of the Fund as is (in the opinion of the Trustee) usual in such cases.

33. Notices

33.1 A notice or other communication connected with this Deed of Trust (Notice) has no legal effect unless it is in writing.

33.2 In addition to any other method of service provided by law, the Notice may be:

(1) sent by prepaid ordinary post to the address for service of the addressee, jf the address is in Australia and the Notice is sent from within Australia;

(2) sent by prepaid airmail to the address for service of the addressee, if the address is outside Australia or if the Notice is sent from outside Australia;

(3) sent by facsimile to the facsimile number of the addressee;

(4) sent by electronic mail to the electronic mail address of the addressee; or

(5) delivered at the address for service of the addressee.

33.3 A certificate signed by a person giving a Notice or by an officer or employee of that person stating the date on which that Notice was sent or delivered under clause 33.2 is prima facie evidence of the date on which that Notice was sent or delivered.

33.4 If the Notice is sent or delivered in a manner provided by clause 33,2, it must be treated as given to and received by the person to which it is addressed:


32

NTP.108.026.0624

I (,:P'ftify that this document is a true copy of the original t,aving been sighted by me Hlis day H/,k?t . .l~

1....-1"1 ~;!, ~' .................. " ...... u ... ~U.~ •• , ..... ~ .... " ..... * ....... ~ •••• t:,.~ ........ t.~:44)

(1) if sent by post from within Australia to an address in Australia, on the 2nd Business Day (at the address to which it is posted) after posting;

(2) if sent by post to an address outside Australia or sent by post from outside Australia, on the 5th Business Day (at the address to which it is posted) after posting:

(3) if sent by facsimile or electronic mail before 5 p.m. on a Business Day at the place of receipt, on the day it is sent and otherwise on the next Business Day at the place of receipt; or

(4) if otherwise delivered before 5 p.m, on a Business Day at the place of delivery, upon delivery, and otherwise on the next Business Day at the place of delivery,

33.5 Despite clause 33.4(3):

(1) a facsimile is not treated as given or received unless at the end of the transmission the sender's facsimile machine issues a report confirming the transmission of the number of pages in the Notice;

(2) an electronic mail message is not treated as given or received if the sender's computer reports that the message has not been delivered; and

(3) a facsimile or electronic mail message is not treated as given or received jf it is not received in full and in legible form and the addressee notifies the sender of that fact within 3 hours after the transmission ends or by 12 noon on the Business Dayan which it would otherwise be treated as given and received, whichever is later.

33,6 If a Notice is served by a method which is provided by law but is not provided by clause 33.2, and the service takes place after 5 p.m. on a Business Day, or on a day which is not a Business Day. it must be tieated as taking place on the next Business Day.

33.7 A Notice sent or delivered in a manner provided by clause 33.2 must be treated as validly given to and received by the person to which it is addressed even if:

(1) the addressee has been liquidated or deregistered or is absent from the place at which the Notice is delivered or to which it is sent;

(2) the Notice is returned unclaimed; or

RWSffRUST OEED Deed of Trust 31

33

NTP.108.026.0625

! tfnt e'ocument is a true copy ()f !t'ie original

having been sigllted tly me this day n.M./J*" · .. ···························"·"".,· .. ·,, ... ~i ...... ·l."' .... · ...

(3) in the case of a Notice sent by electronic mail, the electronic mail message is not delivered or opened (unless the sender's computer reports that it has not been delivered).

33.8 The address for service of a person which is a party to this Deed of Trust is the address of that person set out in this Deed of Trust.

33.9 The address for service of a person which is not a party to this Deed of Trust is the address of that person in the records of the Trustee (and if a person has more than one address in those records, the most recently notified address of that person).

33.10 A person may change its address for service, facsimile number or electronic mail address by giving Notice of that change to the Trustee.

33.11 If the person to which a Notice is intended to be given consists of more than 1 person then the Notice must be treated as given to that party if given to any of those persons.

33.12 Any Notice by a person may be given and may be signed by its solicitor.

33.13 Any Notice to a person may be given to its solicitor by any of the means listed in clause 33.2 to the solicitor's business address, facsimile number or electronic mail address.

34. Law of Trust

34.1 Subject to the provisions of clause 34.2, this Deed of Trust is governed by the law of Victoria.

34.2 The Trustee may by deed declare that the Trust takes effect from the date of the declaration in accordance with the law of some other state, territory or part of the world but not if under the law of that other state, territory or part of the world:

(1) any of the trusts, powers and provisions declared in this Deed of Trust and contained would not be enforceable or capable of being exercised and so take effect; and

(2) the Trust would not be able to be changed.

34.3 As from the date of the declaration, the law of the state, territory or part of the world named in the declaration is the law applicable to the Trust and the courts of that state, territory or part of the world are the forum for the administration of the Trust but subject to the powers conferred by this clause 34 and until any further declaration is made under this clause 34.

RWSITRUST DEED Deed of Trust 32

34

Schedule 1

1. Invest

To invest money which forms part of the Trust Fund in any investments, whether involving liabilities or not, with or without security and upon such terms and conditions as the Trustee thinks fit even though those investments are:

1.1 not income producing;

1.2 of a wasting or speculative nature; or

1.3 not by law authorised for the investment of trust money.

2. Borrow

2.1 To raise or borrow money, either alone or jointly with others, from any person upon such terms and conditions as the Trustee thinks fit.

2.2 To secure the repayment of any money or other indebtedness or obligation of the Trustee by mortgage, charge or other security or encumbrance over the whole or any part of the property and future property of the Trust as the Trustee may decide.

2.3 No lender is concerned to enquire:

(a) as to whether the necessity for any borrowing has arisen;

(b) as to the purpose for which it is required;

( c) as to the application of the money borrowed; or

(d) that no more than is wanted is raised.

3. Limit Liability

NTP.108.026.0626

To enter into any agreement to limit the present or future liability of the Trust including, but not limited to, any agreement relating to interest rate caps, collars. floors or swaps, any $A forward rate agreement and any other financial risk management agreement and whether varying the terms of any existing financial arrangement or loan or for the purpose of setting up a new financial arrangement or otherwise managing the risk of existing or future financial arrangements.

RWBfTRUST DEED Oeed of Trust 33

35

NTP.108.026.0627

4. Give Guarantees

4.1 To give any guarantee or indemnity (alone, jointly or jOintly and severally) for the payment of money or the performance of any contract, obligation or undertaking by any person, whether a Beneficiary or not.

4.2 To give any form of security (alone, jOintly or jointly and severally) over all or any of the assets of the Trust Fund for the purposes of securing its obligations in respect of the guarantee or indemnity.

4.3 No lender is concerned to enquire as to:

(a) the necessity for or propriety of any guarantee or indemnity;

(b) the purpose for which it is given; or

(c) the application of any money borrowed.

6. Attorney

To appoint any person as representative or attorney of the Trustee for the purpose of executing any document which the Trustee is permitted or authorised to execute by this Deed or by law and to revoke the appointment.

7. Delegate

To delegate in writing the exercise of all or any of the powers or discretionary authorities conferred by this Deed of Trust on the Trustee and to execute any power of attorney or other instrument necessary to effectuate that delegation.


36

NTP.108.026.0628

Schedule 2

Application Form


37

NTP.108.026.0629

Construction Industry House, 1 st Floor, 80 Drummond Street, Carlton, Victoria, 3053 Tel: (03) 9639 3000 Fax: (03) 96391366

VICTORIAN BUILDING AND CONSTRUCTION INDUSTRY

TRAINING FUND Toll Free 1800 337 789 Email: [email protected] Web: W1NW.incolink.org.au

APPLICATION FOR MEMBERSHIP AND DEED OF ADHERENCE VICTORIAN BUILDING AND CONSTRUCTION INDUSTRY TRAINING

FUND

APPLICATION FOR MEMBERSHIP

NAME OF COMPANYI BUSINESS: ........................................................................................................................................... . (includes companies, partnerships, sole traders, worldng sub-contractors, trading as trusts etc)

TRADING AS: ...................................................................................................................................................................... .

ADDRESS: ........................................................................................................................................................................... . (not P.O. Box)

................................................................................................................. POST CODE: ................................ .

TELEPHONE NUMBER: ( ....... ) ................................................ MOBILE NUMBER: ( ...... ) ............................................. ..

FACSIMILE NUMBER ( ..... ) .................................................... E-MAIL ADDRESS: ........................................................ .

CONTACT PERSON: .................................................................... POSITION: ...................................................................... ..

INCOLINK EMPLOYER NO: ................................................................... .

The Employer hereby applies for membership of the Victorian Building and Construction Industry Training Fund ("Training Fund") established by a Deed of Trust made ........... .1.. ........... .12005 (as amended from time to time) ("Trust Deed") between Master Builders Association of Victoria and CFMEU and Victorian Building and Construction Industry Training Fund Pty Ltd ACN 117 991 849 ("Trustee") and agrees to be bound by the terms and conditions of the Trust Deed (a copy of which is available upon request from the offices of lncolink).

The Employer acknowledges if its application for membership is accepted then membership will take effect from the date of this application or such later date as may be notified by the Trustee.

The Employer also warrants that the information set out in its Application Form for membership of a redundancy fund of which Incolink is trustee and in any Schedules to its Application Form and in the registration forms which accompany its Application Form is true and correct and complete.

Authority to Redundancy Payment Central Fund Ltd ACN 001133 833 (Incolink)

The Employer authorizes Incolink to make available to the Trustee any and aU information set out in or which accompanied its application form for membership of a redundancy fund of which Incolink is trustee, and any infonnation subsequently provided to Incolink.

DEED OF ADHERENCE 1. The Employer hereby acknowledges that if its application for membership of the Training Fund is accepted then it will be

bound by the tenns of the Trust Deed (as it may be subsequently amended) on the basis that it is a "member" as defined in the Trust Deed and that for each employee for whom it makes a contribution to a redundancy fund of which Incolink is trustee it must make contributions to the Trustee in accordance with the tenns of the Trust Deed.

2. The Employer must, to the extent permitted by law, provide to the Trustee all information requested by it, including detaUs about employees. The Employer authorizes the Trustee to use in reiation to the Training Fund, all information provided by the Employer to Incolink in reiation to any other fund.

3. An Employer which is a trustee is bound both personally and in its capacity as a trustee.

DATED: ...................................................................................................................................................................................... ..

SIGNATURE OF EMPLOYER: ................................................................................................................................................... . (in the case of a company, to be signed by a duly authorised officer ofthe Company)

FULL NAME OF SIGNATORY: ............................................................................................................................... (please print)

SIGNATURE OF WlTNESS: ................................................................................................................................................... ..

FULL NAME OF WITNESS: ................................................................................................................................................... ..

ADDRESS OF WITNESS: ................................................................................................................................................... .

TO BE COMPLETED BY INCOLINK ON BEHAlF OF TRUSTEE

REGISTRATION NUMBER .............................................. DATE OF REGISTRATION ........................................................... ..

RWSiTRUST DEED

~ : . .;;:. ;:'':;;:'J i;, lilt! unginal tt"ris day \l..tb/\~

D~:::~~:iVl·· .... }§ ........ ,.·,'

38

..

Schedule 3

Policies Formulated by Trustee (clause 17)

NTP.108.026.0630

1. Exercise by the Trustee of any of its Training Powers will proceed by way of grant.

2. Applications for a grant will be considered from:

(a) an Industry Party;

(b) a Member;

(c) an employer association;

(d) a union,

but will not be considered from an employer which is not a Member.

3. A grant will only be made to an applicant where the subject matter of the grant is or relates to training or education and is considered by the Trustee to be beneficial to the interests of the Industry in Victoria having regard to the interests of Members, Workers or Apprentices or beneficial to the interests of Members or Workers or Apprentices.


39

NTP.108.026.0631

Schedule 4

Rules made by Trustee (clause 17)

1. Applications for a grant must be in writing in the form from time to time prescribed by the Trustee for that purpose or in a form approved by the Trustee.

2. The prescribed Grant Application Form at the date of execution of this Deed of Trust is Annexure "A".

3. Successful applicants must execute a "Grant Finance Agreement" with the Trustee dealing. inter alia, with the applicant's obligations in relation to acquitting the grant.

4. The Grant Finance Agreement will be in the form from time to time prescribed by the Trustee for that purpose with any necessary changes.

5. The prescribed Grant Finance Agreement at the date of execution of this Deed of Trust is Annexure "6".


40

NTP.108.026.0632

. .

Annexure A

Grant Application Form


41

NTP.108.026.0633

Victorian Building and Construction Industry Training Fund

Trustee of Victorian Building and Construction Industry Training Fund 80 Drummond Street Carlton Victoria 3053 Tel: 9639 3000 Fax: 96394035

ACN: 117 991 849

PART 1 DETAILS OF THE ORGANISATION

1.1 NAME OF ORGANISATION ._.~~~'''v".;:. c. ~::";''j ~fiV'V';(.i:nal

me day U . ./!..:::iJ::\- v

1.2 ADDRESS .... ~, .................... ,. ............... ~ .. ~ ..... J:~ ....... .

1.3 A.e.N

1.4 TELEPHONE/FACSIMILE

1.5 GRANTEE'S REPRESENTATIVE

1.6 GRANT TITLE

1.7 GRANT SOUGHT

1.8 BRIEF HISTORY OF THE ORGANISATION

1.9 AIMS AND OBJECTIVES OF THE ORGANISATION

1.10 LEGAL STATUS OF THE ORGANISATION

1.11 FINANCIAL STATEMENTS {Please attach copies of your organisation's last audited Financial Reporl)

1.12 REGISTERED TRAINING PROVIDER NUMBER (Please indicate if the organisation a registered training provider in the National Training System)

1.13 DIRECTORS OR BOARD OF MANAGEMENT MEMBERS

1.14 DATE OF APPLICATION

1.15 NAME AND SIGNATURE OF PUBLIC OFFICER

RWBrrRUST DEED Deed ofTrust 40

42

NTP.108.026.0634

PART 2

PROJECT DESCRIPTION • r-""~~~./ 40 ... ....., .. f.'-'~ ,

,,,,,,'l\J been sighted by r:le

2.1 GRANT TITLE .,,-... , ...................... ,." ..... ''' .... ~; ...... .).~ .... ..

2.2 DURATION AND LOCATION OF PROJECT

Date of Commencement:

Date of Completion:

Location:

2.3 OBJECTIVES OF THE PROJECT

2.4 EVIDENCE OF THE NEED OR DEMAND FOR THE PROJECT

2.5 DETAIL THE REASONS WHY THIS PROJECT WOULD BE IN THE BEST INTERESTS OF THE BUILDING INDUSTRY (Describe the benefits, impact and effects)

2.6 PROPOSED COURSES, SERVICES AND RESOURCE DEVELOPMENT (Ust the courses, services and resource development as described in Part 3)

2.6.1 Courses: 2.6.2 Services: 2.6.2 Resources:

2.7 PROJECT EVALUATION (Identify the stages of review and evaluation process)

2.8 MANAGEMENT OF THE PROJECT (Describe how the project wi!! be managed following the implementation under this grant)

2.9 PUBLICITY AND PROMOTIONS (Provide details of proposed activities to promote and publicise the project, ego publications, television, radio, press releases, launches. A maximum of 5% of the grant total cost is to be included for publicity and promotions).

RWSrrRUST DEED Deed of Trust 41

43

NTP.108.026.0635

~ """ • .A:4 / U ...... .J.-~:-:::: ~:::, :"'-'r'l '; ·.:~<:",,<.;t<;:;'iI!ai

h".;i!"l1J been sighted t,y r:'e thi" day \\..Ao.I.l.~ ~".Jt •••• ~~ •••••••••

PART 3 .......... H-......... ~~ .... .

COURSE, SERVICE AND RESOURCE DEVELOPMENT DESCRIPTION

3,1 COURSES ALREADY ACCREDITED IN THE NATIONAL TRAINING SYSTEM

Where a course has current accreditation in the National Training System provide details as per the following format.

3,2 COURSES NOT ACCREDITED IN THE NATIONAL TRAINING SYSTEM

Each course is to be described as per the following format. These should be included as an attachment h' f d' b' A I d" , I d dAd' A f h d I to t IS un Ing su mission. sample course escnptor IS mc u e in 'ppen IX o t ese gui e ines. Course description item Guideline

1 Course title and code A brief title and code which identifies the course. If it is an existing nationally accredited course then the accredited title is be used.

2 Overall course purpose . A brief statement what the learner will be able to demonstrate at the I""nrnn/o.ftnn nf tlu:~ f"'nJ Jr'<:t!J ... ...,s •• ,., ...... u ............... ~."'" .... __ • "' .... ~

3 Course learning outcomes The individual competencies which the learner will achieve within the overall course purpose.

4 Relationship to endorsed national competency If the learning outcomes are in response to nationally endorsed standards standards,

• the specific standards should be identified; and

• included in any statement provided to the Jearner.

S Pre-requisites to commence course In the event that pre-requisites are required prior to course entry, these should be stated. Preferably, pre-requisites are kept to a minimum

6 Nominal duration of course This is an indicator for planning purposes only in the allocation of resources. It has no useful training value in terms of delivery, assessment, evaluation or auditing

7 Method and conditions of assessment This is a statement as to how the course's learning outcomes are to be assessed. The statement should include: • the assessment methods to be used; and • the conditions with which the assessment wiii take piace. inciuding

any provisions for workplace assessment as a method of confirming competence.

8 Assessment criteria for each leaming outcome Identification of the key criteria to be used to determine whether the learner has achieved the course's learning outcomes to the required standard

9 Resource requirements This is a statement of resources, required to deliver and assess the course. This includes: • essential qualificatlons/competencies of staff; • facilities and equipment requirements; and

• resource materials .

10 Occupational Health & Safety requirements Include, as appropriate, a statement of the OHS standards to be met in the course.

11 Recognition of this course within the National State if the course is recognised in whole or part within the National Training System Training System.

RWBITRUST OEED Deed ofTrust 42

44

NTP.108.026.0636

~~t-i'; ",;,."""",aj

day HILi, t':t ................................ " .. ,.,", ... .,,,~:., .. , .. :l/,<·t·, .. , ..

3.3 COURSE DELIVERY PLAN Course title Nominallenli!;tb of course Estimated number of learners

Total

3.4. DESCRIPTION OF SERVICES TO BE DELIVERED

E h ac . t b d service IS 0 e 'b d escn e as per th f II f e 0 oWing orma. Guideline

(i) Service description

item

1 Service title A brief title which identifies the service.

2 Service objectives A brief statement of the objectives which the service is designed to achieve.

3 Service outcomes A statement of the specific outcomes which will contribute to achieving the service objectives stated in item 2.

4 Resource requirements This is a statement of resources required to provide the service. This includes:

• essential qualifications/competencies of staff;

• facilities and equipment requirements; and

• resource material

3.5 DESCRIPTION OF RESOURCE DEVELOPMENT

Each resource development proposal is to be described as per the following format. Guideline

(ii) Service description

item

1 Resource development title A brief title which identifies the resource development initiative.

2 Resource development objectives A brief statement of the objectives which the resource development is designed to achieve.

3 Resource development outcomes A statement of the specific outcomes which will contribute to achieving the objectives stated in Item 2.

4 Resource requirements This is a statement of resource required. This includes:

• essential qualifications/competencies of staff;

• facilities and equipment requirements; and

• resource material


45

NTP.108.026.0637

! , V"'"'r-'; "; iJ;.~,rfaJ

1\J\;l./.1~

1.v.3 ..... l~,,,·, ~-... ····~··.,~~~·· .. ~ ••••• ".<'.I.

PART 4 GRANT BUDGET AND COURSE/SERVICE/RESOURCE DEVELOPMENT PLANS This part of the application includes the Grant Budget and the Course/Service/Resource Development Plans. Guidelines for Reporting and Auditing are included in Appendix B. 4.1 GRANT BUDGET The financial budget is for the total funding period.

Expenditure items

1 Labour and on costs

• Salaries and wages • Payroll tax • Wor\(cover

• Superannuation • Fringe benefits tax

• Holiday loading

• Consultants/Sessional trainers 2 Administration

• Fees/Charges

· Insurance • Motor vehicle expenses • Printing and stationery • Postage • RenULease • Communications

• Travell Accommodation • General expenses

3 Infrastructure maintenance *4 Infrastructure capital acquisition

• Technical equipment (including audio visual & other teaching aids) • Motor Vehicles

• Other capital items Total expenditure GST Total

*A maximum of 20% of the totai project funds is to be expended on infrastructure (capitai acquisition).

Progress Payments

It is expected that there will be at least one Activity Report at 6 months and a Final Project Report at the end of the 12 month funding period.

80% 20%


46

NTP.108.026.0638

4.2 COURSE DESIGN AND DELIVERY PLANS The funding period plans, provide a summary of the proposed training courses, services and resources to be designed and/or delivered for the funding period under the above financial budget. These form the basis for the financial estimates, although it is acknowledged that this may need to be varied because of changes in demand and the needs of the industry.

Course Delivery Plan (total funding period)

Course title N ominallength of course Estimated number of learners

Total

Service Provision Plan

R esource D eve opment PI an

Resource development title Status of project

Total


47

NTP.108.026.0639

APPENDIX B REPORTING

The 6 month activity report should include details of the courses completed, resources developed and the services delivered.

The final report should include details of the courses completed, resources developed and the services delivered. This report is to include financial and statistical information.

Financial report This report should be in the same format as the structure of the financial budget shown in Part 4, showing the expenditure for the period against budget.

Statistical reports erR ourse De Ivery eport

Course title

Total

s ervlce PrOVISIOn R eport

Total

~ , 1

Variation

Service title

n

Perfonnance Planned Number Number Number still student registering to completing the in training (if

numbers undertake the course relevant) course

(stats relevant to service)

Status of ject

If there has been significant variationls in the above from your application provide details and the reasons for the variationls.

RWSrTRUST DEED Deed of Trust 46

48

NTP.108.026.0640

AUDITING All projects and their associated courses, services and resource development funded by the Victorian Building and Construction Industry Training Fund are subject to financial and training audits. These will be carried out at the conclusion of the funding period (no greater than 3 months from the end of the 12 month funding period). The key audit objectives are to confirm that:

• project funds have been expended for the purpose(s) to which they were granted; • project funds have been fully expended during the funding period.

In achieving the audit objectives, the auditor(s) appointed under Victorian Building and Construction Industry Training Fund will carry out:

RWBITRUST DEED

• a detailed audit of the expenditure of funds and the overall project performance for the funding period. (This includes access to each funding recipient's audit working paper files);

• sample audits of course, service and resource development outcomes.

Deed of Trust 47

49

NTP.108.026.0641

Annexure B

Grant Finance Agreement

RWBfTRUST DEED Deed ofT rust 49

50

Victorian Building and Construction Industry Training Fund Pty Ltd

A.C.N. 117 991 849

GRANT FINANCE AGREEMENT

INSTRUCTIONS FOR COMPLETION

The Trustee has completed some of the items in this Agreement.

The following is to be completed by your organisation in accordance with the requirements of the Agreement.

1. Page 11: Signatures

2. Page 12: Schedule One: Items 1, 2, and 3(3.1)

3. Page 13: Schedule One (contd): Items 4 and 5

4. Page 16: Schedule Three

5. Page 17: Schedule Four

6. Page 18: Schedule Five

Please return two (2) completed and signed copies to Incolink. A copy of the signed completed Agreement will be forwarded with the appropriate initial or full funding payment.

RWBfTRUST DEED Deed ofTrust

NTP.108.026.0642

50

51

NTP.108.026.0643

-2-

GRANT FINANCE AGREEMENT

THIS AGREEMENT made on ......... n ........... day of ...................................... .

PARTIES Victorian Building and Construction Industry Training Fund Pty Ltd

AND

A.C.N. 117994849 (C/-Incolink) of 80 Drummond Street, Carlton, Victoria, 3053. ("Trustee")

("the Grantee")

INTRODUCTION

A. The Trustee is the trustee of a trust fund known as the Victorian Building and Construction Industry Training Fund ("Fund") which was established to provide training to employees and others engaged in certain sectors of the building and construction industry in Victoria.

B. Under the Trust Deed governing the Fund the Trustee has power to make decisions about the application of the income and the capital of the Fund.

C. In the exercise of the power granted to the Trustee by the Trust Deed, the Trustee wishes to grant funds ("Grant Monies") to the Grantee on the terms and conditions set out in this Agreement and the Schedules (collectively "this Agreement").

D. The Grantee is prepared to accept Grant Monies on the terms and conditions of this Agreement.

IT IS AGREED as follows:-

Part 1

1.1

1.2

The Project

The Grantee will conduct the Project outlined in the Project Brief in the First Schedule ("the Project") in accordance with the terms and conditions set out in this Agreement.

The Grantee agrees to conduct the Project in accordance with the statement for promotion of sponsorship by the Trustee referred to in the Sixth Schedule.

: ::'~'~~~'J ~;l2~ ~0CU;:~0fi{:$ 0. ;1\.J2 ":v~y (.,; :11~ VI';~inai

!.Jv~ng heM $ightE'd bv fr:e dz.y ll./~JJ::+

• .. •• .. h<· ................. , ••••• , ........... , •• b ... ·· .. ,,· .. ·· .. t..:1 ...... '

RwaffRusT DEED Deed of Trust 51

52

Part 2

2.1

Part 3

3.1

3.2

3.3

3.4

3.5

3.6

3.7

Part 4

4.1

NTP.108.026.0644

Period of the Project

The Grantee agrees to conduct the Project within the time period commencing on the date referred to in part (a) of the Second Schedule rthe commencement date") and concluding on the date referred to in part (b) of the Second Schedule ("the termination date").

Receipt and Expenditure of Monies

Subject to the Grantee performing and observing all the terms and conditions of this Agreement including without limitation the Grantee satisfying and continuing to satisfy all of the preconditions specified in the auditor's report as set out in the Seventh Schedule throughout the period of the Project, the Trustee agrees to pay the Grant Monies to the Grantee for the purposes of the Project.

The Grantee agrees to expend all Grant Monies only in respect of, and exclusively for. the purposes of the Project and in accordance with the terms and conditions of this Agreement.

The Grantee may apply to the Trustee to retain for further use after the expiration of this Agreement any capital equipment acquired using Grant Monies, provided the Trustee is satisfied that the equipment is to be used in a manner consistent with the continued conduct of the Project or the results of the Project.

The Grantee agrees that all receipts and expenditures of the Grant Monies shall be recorded and accounted for as provided for in this Agreement.

The Grantee may use any interest earned or received from the short term investment of the Grant Monies for the purpose of the Project.

All Grant Monies not expended at the termination of the Project shall be returned to the Trustee within one month of the termination date unless prior approval has been obtained from the Trustee for an extension to carry over the unexpended Grant Monies.

All income generated from the use of the Grant Monies including interest, and not expended on the Project shall be returned to the Trustee within one month of completion of the Project. or the termination date (which occurs first) unless prior approval has been obtained from the Trustee for an extension to carry over the unexpended income.

Payment of Grant Monies by Instalments

Subject to Clause 3.1, the Trustee will pay the Grant Monies to the Grantee by instalments which are linked to agreed milestones. The amounts of payments of any instalments are set out in part (e) of the Second Schedule.

~ ,:, ": ~":.~~:r ~T:~::~ i.aving been sighted 1)1 (Jay .1 ...... ........ h ..................................... )~ ........ ·1


53

4.2

4.3

4.4

4.5

Part 5

5.1

NTP.108.026.0645

-4-

The Grantee agrees that before payment of the second and any subsequent instalment of the Grant Monies. the Grantee shall. at least 14 days prior to requesting a further instalment. submit to the Trustee an Expenditure Statement certified by the Chief Executive Officer or Chairperson of the Grantee in the form set out in the Third Schedule.

Payment of all instalments (other than the first instalment) shall be made only after the Trustee is satisfied that the prior instalment has been expended in accordance with this Agreement.

In the event that the Trustee is of the reasonable opinion that the progress of the Project has been unsatisfactory or that it is unlikely that the Grantee will be able to achieve the targets and aims of the Project. the Trustee may withhold the payment of an instalment of Grant Monies and may require an explanation or submissions from a suitable representative of the Grantee as to why further payments should not be withheld until such time as the Grantee demonstrates to the satisfaction of the Trustee that it has taken such remedial action as is required by the Trustee.

Where payment has been withheld pursuant to sub-clause 4.4 for a period in excess of 60 days, the Trustee may at its option. cancel. suspend or terminate further payments pursuant to this Agreement and seek repayment of all unexpended Grant Monies advanced to the Grantee under this Agreement. accumulated interest thereon and. subject to the provisions of sub-clause 3.3, any capital assets purchased by the Grantee using Grant Monies advanced to the Grantee.

Accounting. Requirements

For the purpose of this clause, a "qualified auditor" means:

i. a person who is registered as a company auditor; or

ii. the holder of a Practising Certificate from the Australian Society of Certified Practising Accountants or a member of the Institute of Chartered Accountants in Australia

who is independent of the Grantee.

5.2 For the purpose of this clause, a "qualified accountant" means:

i. a person who is a member of the Australian Society of Certified Practising Accountants or the Institute of Chartered Accountants in Australia.

5.3 The Grantee shall establish a separate bank account into which shall be paid all Grant Monies and any interest thereon and the Grantee shall payout of that account monies only for the purposes of the Project and only in accordance with the terms and conditions of this Agreement.

5.4 The Grantee shall establish and maintain an appropriate accounting and bookkeeping system including books of account as required by the Trustee. These records shall be supervised by a qualified accountant, together with any other requirements as may be laid down from time to time by the Trustee.

_ ....... .;~H~ ........... "~"~' •.


54

NTP.108.026.0646

-5-

5.5 The Grantee shall ensure that the following financial statements are prepared and completed:

(a) a statement of cash receipts and payments in the form of the Fourth Schedule in relation to Grant Monies ("the Cash Statement"); and

(b) an audit statement in the form of the Fifth Schedule prepared by the financial controller of the Grantee and certified by a qualified auditor ("the Audit Statement").

5.6 The Cash Statement shall be certified by the Chief Executive Officer or Chairman of the Grantee and forwarded together with the Audit Statement to the Trustee within 28 days of:

Part 6

6.1

6.2

6.3

Part 7

7.1

(a) when the duration of the Project is for a period not exceeding 12 months, the completion of the Project; or

(b) when the duration of the Project is for a period exceeding 12 months, at the end of each financial year ending 30th June and at the completion of the Project.

Interim Reporting by the Grantee to the Trustee

The Grantee agrees to report in writing to the Trustee such details of the Project and the financial and accounting status of the Grant Monies as may be requested from time to time by the Trustee and further agrees to give such written report within 14 days of a written request from the Trustee.

Notwithstanding that a request may have been made pursuant to clause 6.1, the Grantee agrees to submit to the Trustee a written report detailing the progress of the Project and the financial and accounting details of all Grant Monies received as specified in the Second Schedule.

The Grantee agrees to make available to the Trustee for inspection any documents or acquisitions of equipment relating to the Project including. without limiting the generality of the foregoing, any reports, financial, records, files, capital equipment and other related documents within 7 days of a request in writing from the Trustee.

Final Report

The Grantee agrees to submit to the Trustee within 60 days of the completion of the Project or the termination date (whichever occurs first) a full written report which includes:

(a) an assessment of the performance of the Project against the terms of reference outlined in the First Schedule;

I ~::'~~~;~-1 :: I~tl ~:-!;0 "u,",,,,,~,,,,;6 a ~i u~ (;Ur1:l :[J;;;; 0: ,;;r:w me dr:.,y tUb/.i~ having heen sightBd

....................................... ~ ........ ~ .............. ..

RwerrRUST DEED Deed ofTrust 54

55

7.2

7.3

7.4

Part 8

8.1

NTP.1 08.026.0647

-6-

(b) reference to the objectives and outcomes specified in the First Schedule;

(c) details of all activities undertaken by the Grantee in respect to Grant Monies received;

(d) the financial and accounting details relating to the conduct of the Project;

(e) any findings or recommendations; and

(f) details as to operation and implementation of the Project.

The Grantee further agrees that within 60 days of the completion of the Project or the termination date (whichever occurs first) to submit to the Trustee an evaluation report on the Project which identifies the key performance indicators and purposes as set out in the First Schedule and measures such indicators and purposes against the objectives of the Project.

The Trustee reserves the right at any time to request in writing more detailed information on the conduct of the Project and the Grantee undertakes to respond to such a request within 7 days of receipt of such a request.

The Grantee may make application to the Trustee to withhold information collected pursuant to the Project upon the grounds that the information is of private and confidential nature. The application may be considered by the Trustee, who may permit such information to be withheld.

Use and Ownership of the Results of the Project

The Grantee grants to the Trustee a royalty free, irrevocable, world wide, perpetual, non-exclusive sub-licensable licence to use the copyright and other intellectual and industrial property rights in the Technical Data of the Project, which is or becomes owned by or which vests in or is assigned to the Grantee.

If the Grantee subcontracts any part of the Project to a third party. the Grantee shall obtain from the third party the right to grant the licence to the Trustee.

In this clause "Technical Oata" means any data, manuals, handbooks, designs, standards, specifications, reports, writings, models, sketches; plans, drawings, calculations, computer programs, software and other items describing or providing information relating to the Project and created during or for the purposes of the Project.

8.2 The Trustee reserves the right to use any outcome of the Project including data, reports, discussion papers, publications, standards and controls for any purposes which the Trustee considers appropriate.

..., •• .J ~: J ~.: ;,:'::-'

lli0l.l't .. .Jv.L .... L/l··


56

Part 9

NTP.108.026.0648

Nomination of Responsible Officer by the Grantee

The Grantee nominates the person named in the Second Schedule to be responsible for the grant on behalf of the Grantee.

Part 10 Liaison Officer for the Trustee

10.1 The Trustee appoints the person named as Liaison Officer in the Second Schedule for the purpose of meeting and liaising with the Grantee and its staff on at least a quarterly basis during the period of the Agreement to discuss and assess progress of the Project.

10.2 The Grantee agrees to provide the Liaison Officer appointed by the Trustee with full access to all information relevant to the Project and its implementation and operations.

10.3 The functions of the Liaison Officer includes acting on behalf of the Trustee in relation to the Project and, in particular, to;

10.4

Part 11

11.1

11.2

(a) monitor the conduct of the Project;

(b) monitor the financial arrangements of the Project:

(c) report to the Trustee regarding the conduct and financial arrangements of the Project;

(d) represent the Trustee in relation to matters arising out of this Agreement; and

(e) exercise those powers. delegations, duties, functions and responsibilities imposed on the Trustee by this Agreement which the Trustee authorises the Liaison Officer to perform.

Any power. authority, duty or function performed by a delegate of the Trustee shall be taken and accepted as a performance of that power. authority, duty or function by the Trustee for the purposes of this Agreement.

No Liability on the Trustee

No director or employee of the Trustee nor the Liaison Officer (if not a director or employee of the Trustee) shall be responsible at any time for any liabilities incurred or entered into by the Grantee as a result of. or arising out of the Grantee's responsibilities under this Agreement.

The Grantee shall release and indemnify the Trustee, its directors, employees and the Liaison Officer (if not a director or employee of the Trustee), against any claim, demand. liability suit. costs, expenses or action arising out of or in any way connected with the activities of the Grantee or the Grantee's servants or agents in consequence of this Agreement.

RWSfTRUST DEED Deed ofTrust 56

57

.. NTP.108.026.0649

~8~

Part 12 No Commitment to Further Funding by the Trustee

12.1 Nothing in this Agreement is to be construed as creating any obligation, commitment or undertaking by the Trustee to provide additional or further funding or assistance beyond the Grant Monies specifically provided for in this Agreement.

Part 13 Employment of Persons

13.1 The Grantee acknowledges that no contract of employment arises between the Trustee and any person engaged by the Grantee for the purposes of carrying out the Project.

Part 14 Variation

14.1 The terms and conditions of this Agreement may only be varied at the option of the Trustee.

14.2 The Grantee may, at any time during the term of this Agreement, request the Liaison Officer in writing to submit to the Trustee a variation of the Agreement.

14.3 The Trustee may, in its absolute discretion, grant or refuse any request for variation of this Agreement.

14.4 No major changes may be made to the Project's objectives, activities or budget without the prior approval in writing of the Trustee or the Liaison Officer (if duly delegated the power to do by the Trustee).

Part 15 Arbitration

15.1 In the event of any doubt, dispute or difference arising between the Grantee and the Trustee or those acting on the Trustee's behalf concerning or in relation to any matter or thing whatsoever arising from this Agreement or concerning the provision by the Grantee of services. then either party may, within 7 days from the date upon which such doubt, dispute or difference arises. give to the other written notice requesting arbitration and set out the nature of the doubt, dispute or difference and unless within 7 days or such further period as may mutually be agreed upon after service of the notice such doubt, dispute or difference is not settled, it shall be submitted to arbitration as provided.

15.2 Arbitration shall be effected by an arbitrator agreed between the parties, or failing such Agreement, within 7 days of a notice requesting the appointment of an arbitrator being given, such arbitrator is to be appointed by the President of the Law Institute of Victoria. The arbitration shall be conducted in accordance with the provisions of the Commercial Arbitration Act 1984 (Vic).

, .. , ......... ,,-

RWBITRUST DEED Oeed of Trust 57

58

, .

NTP.108.026.0650

15.3 Any award made by the arbitrator shall be final and binding upon both parties and either of them may enforce any such award in accordance with the Commercial Arbitration Act 1984 (Vic) or sue the other for any amount awarded as a debt due and payable.

15.4 The fee of the arbitrator shall be determined before his/her appointment and shall be paid by the Trustee or the Grantee in whole or in such proportion as is determined by the Arbitrator when making the award.

Part 16 Insurance

16.1 The Grantee is responsible for ensuring that appropriate public liability, property and general insurance coverage is arranged for all premises and equipment used in relation to the Project.

16.2 It is the responsibility of the Grantee to carry out its obligations under this Agreement at its own risk and in so doing shall comply with the provisions of any Statute, Regulations or Bylaw and the requirements of any local authority.

Part 17 Termination

17.1 This Agreement may be terminated or suspended in writing, at the option of the Trustee if:

(a) there is a substantial breach of any of the terms or conditions of this Agreement;

(b) the Grantee becomes bankrupt, is subject to a petition for winding up or is subject to liquidation;

(c) the Project is not conducted to the reasonable satisfaction of the Trustee;

(d) the Project is cancelled, varied or discontinued; or

(e) it is reasonably determined by the Trustee after investigation and consultation with the Grantee that the Grantee is unlikely or unable to rectify the unsatisfactory aspects of the operation or the Project.

(f) the Grantee during the period of the Project fails to or fails to continue to satisfy or comply with the auditor's preconditions as specified in the Auditor's Report contained in the Seventh Schedule.


59

NTP.108.026.0651

-10-

17.2 On termination of this Agreement. for one or more of the reasons set out in clause 17.1. or on completion of the Project, or in the event that the Project is cancelled. wound uP. discontinued or abandoned, all unexpended Grant Monies. accumulated interest on Grant Monies and (subject to the provision in sub-clause 3.3) capital assets purchased using Grant Monies. shall immediately be forwarded to the Trustee.

17.3 Where the Trustee exercises its right to terminate or suspend this Agreement pursuant to sub-clause 17.1, it shall advise the Grantee in writing of the reasons for his decision to so terminate or suspend.

Part 18 Notices

18.1 Any notice or other communication under or in relation to this Agreement. shall be deemed to have been duly given, if it is in writing, posted on a pre-paid letter and shall have been deemed to have been received when it would have been delivered in the ordinary course of the post.

Part 19 Agreement

19.1 This Agreement embodies all of the terms and conditions of this Agreement and any representations of understandings whether oral or in writing and whether made for or after this Agreement, shall not be a general condition of this Agreement unless contained in this Agreement or varied pursuant to Part 14.

19.2 A reference to "Agreement" means this document and includes any schedule or annexure to it".

Part 20 Governing Law

20.1 The law of this Agreement is the law of Victoria and the Commonwealth of Australia.

20.2 The parties submit themselves to the jurisdiction of the Courts of Victoria and the Commonwealth of Australia for all proceedings arising in connection with this Agreement.

I ~-..Hfv that this document is a true copy of the original . ".,. '.~ ~'l sighted by me this day ~I.AaI.lt .. ·.~.; ............................................ ~ ......... 1~

RWBffRUST DEED Deed of Trust 59

60

-11-

EXECUTED on the date set out at the commencement of this Agreement.

SIGNED by a duly authorised officer of VICTORIAN BUILDING AND CONSTRUCTION INDUSTRY TRAINING FUND ACN 117 991 849 in the presence of:

Witness

SIGNED by a duly authorised officer of the Grantee in the presence of:

Witness

RWSfTRUST DEED

) ) ) ) )

) ) ) ) }

Authorised Officer

Name in Full

Authorised Officer

Name in Full

J ........ ..i-:~, thet U-!l'J docurnGnt ~s 0 true COpy of lhe.originai !.. been sigtlted by me this day ~\.I.b.1:t

·M .. •• ....... H ...................... ... J:>..~~ ....... " ... 6: ... ..

Deed of Trust

NTP.108.026.0652

60

61

NTP.108.026.0653

-12-

VICTORIAN BUILDING AND CONSTRUCTION INDUSTRY FUND PTY LTD TRUSTEE OF VICTORIAN BUILDING AND CONSTRUCTION INDUSTRY TRAINING FUND

SCHEDULE ONE: THE PROJECT

[ GRANT TO:

•

L.JI'4UU'_

1. EVIDENCE OF THE NEED OR DEMAND FOR THE PROJECT

2. OBJECTIVES OF THE GRANT

3. DETAILS OF THE BENEFITS. IMPACT AND EFFECTS OF THE PROJECT

3.1 The .............. , .............................................................. shall manage the grant monies in accordance with the objectives of the Project.


62

4. MAJOR ACTIVITIES OF THE GRANT

5. HOW GRANT MONIES ARE TO BE EXPENDED

The duration of the Project is to be ....................................... . commencing on ......................................... , ....... , .................. .

The Budget for the Project in tota! is $ .................................. .. Incolink is providing $ ........................................................... ..

Salary and Salary On-Costs ) )

Administration Costs ) see Schedule Three )

Capital Equipment )

If any other party is contributing funds to the Project, please complete the following:

The value of $ ....................................................................... . associated with the Project will be met by ............................. .

6. REPORTING/PERFORMANCE INDICATORS

NTP.108.026.0654

Performance will be indicated by the reports outlining progress towards meeting the objectives of the Project.

" < •••••• : ........ " '


63

NTP.108.026.0655

-14-


SCHEDULE TWO: SUMMARY OF ADMINISTRATIVE DETAILS

(a) Date of Commencement of the Project:

(b) Date of Termination of the Project:

(c) Totai Amount of Grant Monies Granted Pursuant to this Agreement:

(d) First Payment of the Grant Monies:

On receipt of the signed Grant Finance Agreements.

(e) Payment of Instalments:

(Final payment 28 days after completion of Project) (Refer to item (h).

(f) The Grantee's Representative is:

(g) The Liaison Officer appointed by the Trustee is:

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64

-15-

(h) When the Progress Reports Must be Submitted:

Payments subsequent to the initial one will only be made after receipt of a Project progress report, linked to the completion of each milestone, and a detailed financial report on the use of grant funds which will be subject to Trustee audit.

(i) Date when Audited Statement Must be Submitted:

Within 60 days of completion of Project.

(j) Date when Final and Evaluation Report Must be Submitted:

Within 60 days of completion of Project.

RWBfTRUST DEED Deed ofTrust

NTP.108.026.0656

64

65

NTP.108.026.0657

-16-


SCHEDULE THREE: EXPENDITURE STATEMENT

Name of Organisation: ............................................................................... .. Postal Address: ........................................................................................... . ........ .............................................................................. Post Code: ........... . Admin Contact: ............................................................. Tel: ( .... ) ............... .

~AI ARIF~ & SALARY ("It.L('()8TS

Position Position Position 3 Position 4 Position 5 Payroll Tax WorkCare Superannuation Holiday Loading Fringe Benefits Tax Consultants/Sessional Trainers TOTAL SALARY & ASSOCIATED COSTS' ................... .

ADMINISTRATION EXPENSES Audit fees/Bank Charges/Accounting Fees Insurance Motor Vehicle PrintinQ & Stationary Postage Rental/Leasina Telephone/F acsimlle Travel Expenses Accommodation General Expenses TOTAL ADMINI '., ......... . , ..•.. ,..: .. .~'.:.

INFRASTRUCTURE MAINTENANCE TOTAUNFRASTRUCTURE MAINTENANCE

I certify that to the best of my knowledge the details provided in this form are true and correct

Auditor ............................................ Prineipal Ace. Officer ............................................. Date ....................... .

::8C·~~::;:.;-;~:::;;: ~;c:..:o CGl='y' cf ~;.\;;: u$l!jtnal

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66

NTP.108.026.0658


SCHEDULE FOUR: CASH STATEMENT

".

Project Title ........................................................................................................... ..

Financial Statement for period ...... 1 .... .1 ... to .. , 1 .... 1 .... .

Name of Organisation: ............................................................................... . Postal Address: ......................................................................................... .. .............................. ................................................... ....... Post Code: ....... .. Admin Contact: ...................................................... Tel: C .... } ..................... .

;\, .··..;;\,.ine 'l~~<>;: ' .. ' ... ~ ............... . ... »i}":~· .. ; <. '.;> .. ; .·.i··i·· ' ......... ),; ::T9tal A9r!lli:l<i~ .. . . Grant .. ......•• Quarter

.··ic~m.lJlatiV"e······:1 : Expenditure .

SALARIES & SALARY ON-COSTS Position 1 Position 2 Position 3 Position 4 Position 5 Payroll Tax WorkCare Superannuation Holiday Loading

I Consultants/Sessional Trainers TOTAL SALARY & ASSOCIATED COSTS· .• <. ';':' .... ...•.. ..... : . •.......... :.: ... .......•... ':

ADMINISTRATION EXPENSES Audit fees/Bank Charoes/AcCQuntinQ Fees Insurance Motor Vehicle

~ Stationary

Rental/Leasing Telephone/Facsimile Travel Expenses Accommodation General Expenses TOTALADMINISTRATION EXPENSES "; ... ;<;' .....•.••.•.. ... :':.:"':"" ' .. ... . ' ......... : .. ; '.:> .

INFRASTRUCTURE MAINTENANCE TOTAUNFRASTRUCTURE MAINTENANCE

INFRASTRUCTURE CAPITAL ACQUISITION


Auditor ............................................ Principal Ace. Officer .......... ..................... ..... ....... Date ................ ..

RWBlTRUST DEED

67

NTP.108.026.0659

-18~

VICTORIAN BUILDING AND CONSTRUCTION INDUSTRY FUND PlY LTD TRUSTEE OF VICTORIAN BUILDING AND CONSTRUCTION INDUSTRY TRAINING FUND

SCHEDULE FIVE: AUDIT STATEMENT

Project Title ................................................................................................. . Financial Statement for period ..... I ..... I ..... to ..... I ..... I ... .. (to be supplied within 28 days of the reporting period)

Name of Organisation: ................................................................................ . Postal Address: .......................................................................................... . .............. ....... ........................ ......................... .................. Post Code: ........ . Admin Contact: ........................................................ Tel: ( .... ) ..................... .

iii;i)·~:,,·Linenern· >t' .•••...••.••..•...•.•...........••.•.... T ptal~gre$c! . ~xp~n9iture·.· •.. ,pl.irl1Ulat~ .... :·c .. ··;/X,.. .···:.,c· ." ..... >:!\(; .••.......• Granf; ':ThisQuafter' Expenditu SALARIES & SALARY ON-COSTS Position 1 Position 2 Position 3 Position 4 Position 5 Pavron Tax WorkCare Superannuation Holidav Loading Fringe Benefits Tax Consultants/Sessional Trainers TOTALSALARY& ASSOCIATED COSTS .. ..................., .': ........ ;/... .. : .. / :: .•.... ,.:::: .••.• : .. > -':' • < ,'::.:'

ADMINISTRATION EXPENSES Audit fees/Bank Charges/Accounting Fees Insurance Motor Vehicle Printing & Stationary Postage Rental/Leasing TelephonefFacsimile Travel Expenses Accommodation General Expenses TOTAL:ADMINISTRATION EXPENSES.··· •• · .... ·' . ' .... : ......... : .. : ...... , .( "':':. / ..... J.\. I··:· .. ··,·:··.· ... ".: .

INFRASTRUCTURE MAINTENANCE TOTALlNFRASTRUCTURE MAINTENANCE

INFRASTRUCTURE CAPITAL ACQUISITION


Treasurer ............................................. CEO .............................................. Date ............................ ..

1 ,,"--::~:~L ~t ~~,,\...0j \":-\I"l ~v U. ~'L.U ~Vt""j "-.-1 tl,~ Dn~;tClai

L ~-;,~el1 Stgn,--ea ~y tL/.GJ.l~


68

NTP.108.026.0660

VICTORIAN BUILDING AND CONSTRUCTION INpUSTRY FUND PTY LTD TRUSTEE OF VICTORIAN BUILDING AND CONSTRUCTION INDUSTRY TRAINING FUND

SCHEDULE SIX: PROMOTION OF SPONSORSHIP BY THE TRUSTEE

The recipient of a grant (the Grantee) from the Trustee is required to promote the involvement of the Trustee in the Project as a condition of accepting the grant.

Printed Documents

All printed documents, such as brochures, annual reports, booklets, etc., which form part of the Project should ensure appropriate identification is provided to the Trustee in the Foreword, which may take the form of a statement about the Trustee and on who the Trustee is and why it has sponsored the publication and Project.

Media Opportunities

The Trustee may, through its Public Relations people, undertake a media launch of the Project. The Trustee may also arrange ongoing promotional activities for the Project. The Trustee expects the Grantee to co-operate fully in all such activities.

Additionally, whenever the Grantee is talking about its activities to the media, reference should be made to the fact that the funding (or part of the funding) is from the Trustee - the Building and Construction Industry's Training Fund.

Copies of the coverage, either printed articles, audio or video cassettes of the funded organisation mentioning the Trustee should be forwarded to the Chief Executive Officer of the Trustee.

General

All opportunities to promote the Trustee or the Fund publicly as a sponsor should be sought.

Questions concerning this policy can be directed to the Trustee. Should the Grantee intend to submit any further application for funding, then examples of how the Grantee has sought to promote its funding by the Trustee should be included.

• .......... ~ ••• ~ .. ~ ••••• " >

RWBlTRUST DEED Deed of Trust 68

69

NTP.108.026.0661

-20-


SCHEDULE SEVEN: AUDITOR'S REPORT

Refer to attached report.

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70

EXECUTED as a deed:

THE SEAL of Master Builders' Association of Victoria ACN 004 255 654 is affixed in

President

Executive Director

THE SEAL of Construction Forestry Mining Energy Union was affixed in accordance with its constituent documents in the presence of:

THE SEAL of Construction Forestry Mining Energy Union was affixed in accordance with its constituent documents in the presence of:

" '.* •••• '"." .. ~" .. ~ ... "., ...... ,

RWBITRUST DEED

NTP.108.026.0662

Authorised signatory - Construction and General Division

Authorised signatory - Construction and General Division

Authorised signatory - FEDFA Division

Authorised signatory - FEDFA Division

Deed of Trust 70

71

Executed by Victorian Building and ) Construction Industry Training Fund ) Pty Ltd ACN 117991 849 in ) accordance with section 127 of the ) Corporations Act 2001: )

Director/company secretary

Name of director/company secretary (BLOCK LETIERS) (BLOCK LETTERS)

\ ~._<.l·;t;..." . ...".,,-.- .... ""[...-;- v; '.H-::~"-'~'~l."~ai

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RWBITRUST DEED Deed of Trust

NTP.108.026.0663

71

72