The Mac and Tui Chapman Charitable Trust

This Trust was established by deed on 7th October 1993 by McLeod Palm Chapman and Tui June Chapman. It is to be held in perpetuity and pay the net annual income, at the Trustee's discretion, to the 7 named beneficiaries. The last three charities were added by the Settlors as per a Deed of Appointment of Additional Beneficiaries dated 3rd April 2001. This was provided for in Clause 1.1 (v) of the Trust Deed. A Deed of Variation, dated 30th August 2016, was executed by the Trustee to provide for annual income capitalisation, of between 10% and 50%, for a period no longer than 80 years from the date of the trust deed.