Power to augment trust capital
4 Power to augment trust capital
The Trustee must on or before 31 December in each year consult with the Club for the purpose of reaching an agreement as to an amount that is to be paid by the Club to the Trustee on 1 January in the following year so as to augment the capital of the trusts.
An amount that is agreed or, in default of agreement, determined by arbitration under clause 4 of the deed of trust for the purposes of this section is not to exceed one-quarter of the annual income of the trusts in the year preceding the date of payment.
Notwithstanding anything to the contrary in the deed of trust – the Club must pay an amount to the Trustee in accordance with any such agreement or determination; and the Trustee must apply any such amount to augment the capital of the trusts.
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