Y Gofrestr Elusennau - Y Comisiwn Elusennau ENDOWMENT NO.5

RESOLUTION OF THE TRUSTEES DATED 25 APRIL 2002, UNITING DIRECTION OF THE CHARITY COMMISSIONERS DATED 4 DECEMBER 2002, ORDER DATED 13 AUGUST 2003, AND RESOLUTION OF THE TRUSTEES DATED 19 NOVEMBER 2003.

THE FUND IS HELD BY THE MACKINTOSH FOUNDATION (327751) ITSELF UPON THE TRUSTS SET FORTH IN WHAT IS NOW 3.2.13 OF ITS MEMORANDUM AND ARTICLES OF ASSOCIATION, NAMELY:- UPON TRUST TRUST TO PAY THE ANNUAL INCOME THEREOF IN PERPETUITY FOR THOSE CHARITABLE OBJECTS SET OUT HEREIN SUBJECT TO THE CAPITAL BEING CAPABLE OF BEING CONVERTED TO INCOME SUBJECT TO RESOLUTION OF THE TRUSTEES.

NOT DEFINED.

THE MACKINTOSH FOUNDATION