Characteristics of Units
(a) Class A
A Unit of this class shall confer upon the registered holder thereof:-
- the right, in common with the registered holders of all other issued units conferring that right, to receive a rateable proportion of the net income of the Trust Fund arising during each financial year;
- the right, in common with the registered holders of all other issued units conferring that right, to receive a rateable proportion of the capital of the Trust Fund during each financial year;
- the right, in common with the registered holders of all other issued units conferring that right, to receive a rateable proportion of the Trust Fund on termination of the trusts created by this deed; and
- the right to vote at a general meeting of Unit Holders.
(b) Class B
A Unit of this class shall confer upon the registered holder thereof:-
- the right, in common with the registered holders of all other issued units conferring that right, to receive a rateable proportion of the capital of the Trust Fund during each financial year;
- the right, in common with the registered holders of all other issued units conferring that right, to receive a rateable proportion of the Trust Fund on termination of the trusts created by this deed; and
- the right to vote at a general meeting of Unit Holders.
2. Special Units
(a) Class A
A Special Unit of this class shall confer upon the registered holder thereof:-
- the right, in common with the registered holders of all other issued units conferring that right, to receive a rateable proportion of the net income of the Trust Fund arising during each financial year;
- the right, in common with the registered holders of all other issued units conferring that right, to receive a rateable proportion of the capital of the Trust Fund during each financial year; and
- the right, in common with the registered holders of all other issued units conferring that right, to receive a rateable proportion of the Trust Fund on termination of the trusts created by this deed.
(b) Class B
A Special Unit of this class shall confer upon the registered holder thereof:-
- the right, in common with the registered holders of all other issued units conferring that right, to receive a rateable proportion of the net income of the Trust Fund arising during each financial year; and
- the right, in common with the registered holders of all other issued units conferring that right, to receive a rateable proportion of the capital of the Trust Fund during each financial year.
(c) Class C
A Special Unit of this class shall confer upon the registered holder thereof:-
(i) the right, in common with the registered holders of all other issued units conferring that right, to receive a rateable proportion of the net income of the Trust Fund arising during each financial year.
(d) Class D
A Special Unit of this class shall confer upon the registered holder thereof:-
- the right, in common with the registered holders of all other issued units conferring that right, to receive a rateable proportion of the capital of the Trust Fund during each financial year.
(e) Class E
A Special Unit of this class shall confer with the registered holder thereof:-
(i) the right, in common with the registered holders of all other issued units conferring that right, to receive a rateable proportion of the net income of the Trust Fund arising during each financial year provided always that the proposed appointment is approved by special resolution of unit holders entitled to vote.
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