ASB Securitisation Charitable Trust

The Trust was established: (a) to invest in the intial Trust Fund; (b) to hold legal title to, and remain registered as the holder of, the sole beneficial interest in the Initial Series Trusts, and in the future beneficial interests in other Series Trusts that may be formed in order to fulfill its charitable purposes; (c) to use the income derived from holding beneficial interest in the Initial Series Trust and any other Series Trust to make grants to and/or provide funding for The Priory in New Zealand of the Most Venerable Order of the Hospital of St John of Jerusalem or, if it ceases to exist, other Registered Charities as the Trustees elect from time to time; and (d) for any other purposes within New Zealand (whether relating to the relief of poverty, the advancement of education or religion or any other matter beneficial beneficial to the community) which are charitable according to the laws of New Zealand.