New South Wales Consolidated Acts

BURNS PHILP TRUSTEE COMPANY LIMITED ACT 1990 - SECT 7

7 Property and trusts excluded from this Act

(1) This Act does not:

(a) vest excluded property in the new Trustee, or

(b) substitute the new Trustee for Burns Philp to act in the capacity of trustee of excluded trusts.

(2) In this section:
"excluded property" means property the subject of excluded trusts.
"excluded trusts" means the following trusts:

(a) Burns Philp Group Share Plans, being:

(i) the Burns Philp Executive Share Plan established by Burns Philp by deed dated 27 November 1981 (including any trusts established in connection with that Plan), and

(ii) the Burns Philp Incentive Plan established by Burns Philp by deed dated 23 February 1988, and

(iii) the Burns Philp Employee Share Plan established by Burns Philp by deed dated 6 May 1988,

(b) Estate Mortgage Trusts, being the following trusts established by deeds between Burns Philp and Estate Mortgage Managers Limited:

(i) Estate Mortgage Income Trust No 1 established by a deed dated 2 February 1976,

(ii) Estate Mortgage Investment Trust established by deed dated 8 June 1982,

(iii) Estate Mortgage Depositors Trust established by deed dated 28 November 1983,

(iv) Estate Mortgage Depositors Trust No 2 established by deed dated 18 September 1987,

(v) Estate Mortgage Depositors Trust No 3 established by deed dated 15 March 1988,

(vi) Estate Mortgage Depositors Trust No 4 established by deed dated 7 September 1989.