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Legal Matters – FURTHER

Legal Matters

Revocability
FURTHER is an irrevocable Trust. However, the Board of Trustees may, but only by a unanimous resolution passed in an actual meeting in which all Trustees then current are present and none abstain from voting, add to, delete, or amend any of the clauses of this Deed, except the name of the Trust, its Objectives, and policy on Use of Funds. The saidĀ items may not be altered, revoked, added to, deleted from or otherwise amended through any act of the Board of Trustees or any other authority whatsoever.

Dissolution
If the Trust is dissolved for any reason, its assets left after meeting any liabilities shall be transferred to another institution having similar objectives and approved under Section 61 of the Income Tax Ordinance, 2001, as amended from time to time, under intimation to the Federal Board of Revenue within 3 months of the date of dissolution. The Name and Objectives of FURTHER shall be made known to the Beneficiaries who receive the transferred Trust funds.