SHELF COMPANIES NSW {VIC,QLD} PTY LTD. www.shelfcoys.com.au

Ph 0266 55 6659 Fax 0266 555 606 Em john@shelfcoys.com.au

ABN 78 106 239 758

DISCRETIONARY FAMILY TRUST DEEDS

Discretionary Trust Deed Index                                                            

Table of Contents

Name of Trust                                                                                      

1.      Declaration of Trust                                                                                   

2.      Definitions and Interpretation

3.          Purposes                                                                                           

3.1 Application of Income and Capital                                                 

3.2 Policies and Rules                                                                                   

4.          Factors Trustee May Consider                                                                  

4.1 Trustee may accumulate

4.2 Trustees right to determine Nature of Income

4.3 Trustee may determine what is Income

4.4 Allocation of Income or Capital

4.5 Trustee’s Right to distribute

4.6 Trustee may nominate additional Beneficiaries

4.7 Allocation of expenses

4.8 Trustee may delete a class of eligible Beneficiaries

4.9 Interest of Named Beneficiaries and members of Class Beneficiaries

4.10 Distributed Income and Capital remain in Categories

5.          Method of Distribution                                                                        

5.1 Trustee May distribute

5.2 Failure to Exercise Discretion

5.3 Trustee’s Right to Advance Part

5.4 Distribution to a Guardian

5.5 Trustee is Discharged by Distribution

6.          Qualifications of Trustee                                                                

7.          Trustee’s Powers                                                                            

7.1 Investment

7.2 Other Powers

7.3 Powers are Supplementary

8.          Decisions of Trustee                                                                         

8.1 Method of Decision

8.2 Delegation of Decision making Powers

8.3 Trustee may register Assets in the name of Nominees

8.4 Powers to be Exercised at the Trustee’s Absolute Discretion

9.    Liability for Breaches of Trust                                                               

9.1 Trustee

9.2 Officers, Agents or Employees

9.3 Indemnity of Trustee from the Trust

9.4 No Indemnity from Beneficiaries

10.           Remuneration                                                                                                                                                   

11.           Personal Interest of Trustee                                                         

11.1 Trustee’s Interest

11.2 Trustee’s receipts

11.3 Trustee’s Decisions

12.           Variation and Termination of the Trust                                            

13.           Appointment and Retirement of Trustee and Appointor                     

13.1 Initial Trustee

13.2 Appointment of Trustee

13.3 Retirement of Trustee

13.4 Removal of Trustee

13.5 Termination of Appointment of Trustee

13.6 Transfer of Assets

14.           Appointor                                                                                    

14.1 Appointor may appoint Appointor

14.2 Appointor may remove Appointor

14.3 Appointor may appoint replacement by will

15.           Books of Account                                                                          

15.1 Trustee to keep Accounts

15.2 Financial Statements

15.3 Auditor

15.4 Trustee may value Assets

15.5 No Partnership

16.           Winding Up                                                                                

          SCHEDULE

          SIGNING