Zimbabwe Together
Zimbabwe Together
Zimbabwe Together
That on this 8th day of September in the year of our Lord Two Thousand and
Twenty (2020) before me, NYASHA MUNETSI, a legal practitioner and
Notary Public, by lawful authority duly admitted and sworn, residing and
practicing as such in Harare in the Province of Mashonaland, in the Republic
of Zimbabwe, personally came and appeared,
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(born 30 JANUARY 1992) with national identity number 48-149867L48)
(hereinafter referred to as the “Trustee”)
The said Founder had truly and legally donated inter vivos the following
property and that he hereby transfers to the ZIMBABWE TOGETHER
TRUST, which donations shall form the foundation of the Trust;
And accordingly, the Appearer further declares that this Deed witnesseth as
follows:-
CREATION AND NAME OF TRUST
The name of the Trust created by this Deed shall be known as: -
1. DEFINITIONS
1.1. Unless/
1.1.1. “Deed” means this trust deed and any appendices hereto;
1.1.5. “Trust Fund” means the Trust property or capital vested in the
Trustees, or in respect of which they have a claim, namely, the
original donation and any additions thereto, irrespective of the
source from which such additions are derived. Trust income not
allocated by the Trustees within 6 (six) months from the
financial year end, unless the Trustees resolve that such income
shall form part of the Trust capital, shall be deemed to be
undistributed profits which shall remain part of the Trust
income and not the Trust capital. The aggregate of all Trust
property constitutes the Trust Fund.
1.2. Clause and paragraph headings are for the purposes of reference
only and shall not be used in interpretation.
INSOLVENCY/…
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1.4. When any number of days is prescribed such number shall
exclude the first and include the last day unless the last day falls
on a Saturday, Sunday, or a public holiday in the Republic of
Zimbabwe, in which case the last day shall be the next
succeeding day which is not a Saturday, Sunday or a public
holiday in the Republic of Zimbabwe.
1.5 A reference to a business day is a reference to that enactment as
at the date of signature hereof and as amended or re- enacted
from time to time.
2.2. With the prior written consent of the Founder, or on this death
the written consent of the first beneficiary provided he or she
has reached the age of 30 (thirty) years and in the event that the
first beneficiary has not reached (30) thirty years, with the
written consent of, the Trustees may change the name of the
Trust at any time.
3. OBJECTIVES OF THE TRUST
3.1. To identify all disadvantaged people including the disabled and
those in exceptional need for supporting and promoting their
innovative social economic development and livelihood thereby
enhancing poverty reduction.
3.3. To raise/
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3.3. To raise awareness on human rights in line with the
Constitution and International laws.
3.4. To source for funds and host the annual National Unifying
Symposium for the youths to communicate the Zimbabwe
sustainable Development approaches they want.
5. NATURE OF TRUST
THE FOUNDER/…
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5.2. The Founder donates to the Trust, the following;
6.3. The Trustees shall not distribute any of its net income or gains
to any person other than the Beneficiaries.
6.4. Subject to 6.1 and 6.2, the Trustees shall have the power, in
their sole discretion:
TO DETERMINE/…
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6.4.2. to determine the terms and conditions, if any, to be attached to
the payment, application or expenditure of the Trust Fund or
any portion thereof;
6.4.3. to determine when the Trust Fund or any portion thereof shall
be applied, expended, paid or used in any manner whatsoever;
6.4.4. to accumulate, at any time and from time to time, any portion of
the Trust Fund for any capital project or projects or for any
other purpose or reason whatsoever which they, in their
discretion, deem to be in the interest of the Trust; and
6.4.5. to invest responsibly any portion of the Trust Fund which has
not been expended and which is available for investment.
7. APPOINTMENT OF TRUSTEES
There shall at all times be not less than two (3) Trustees acting
from time to time under this Deed.
TERMS/…
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8. TERMS AND CONDITIONS OF THE TRUSTEES
9.3. The Trust Fund shall not form part of the personal estates of the
Trustees, and all Trust property shall be registered in the name
of the Trust.
The Trustees are to exercise their duties under this Deed with the aim
of growing and preserving the value of the Trust and shall be entitled
from time to time to deal with any assets of the Trust as they in their
sole and absolute discretion may decide, and they shall have all
powers relative hereto as if they were the absolute beneficial owners
of the same.
POWERS/…
Powers on assets
10.2.2.1 to receive and to take charge of the Trust Fund constituting the
initial subject matter of the Trust;
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Powers on investments
10.2.2.1 to invest any monies arising under this Trust as they in their
sole and absolute discretion may consider fit, including by
investing or otherwise applying the same on the security of or
in the purchase of or acquisition of any property, rights or
interests, whether movable or immovable and whether
corporeal or incorporeal and of whatsoever nature and
wheresoever situated;
10.2.2.3 to allow all investments at any time forming part of the Trust
Fund to remain in actual state of investment thereof so long as
the Trustees may think fit;
10.2.4.1 the Trustees shall have powers to transfer or sell any assets of
the Trust (whether movable or immovable, whether corporeal
or incorporeal and of whatsoever nature and wheresoever
situated) as they in their sole and absolute discretion deem fit,
and in exercising any powers of lease, they shall be entitled to
cause any property to be let at such rental, for such period and
on such terms and conditions as they in their sole and absolute
discretion deem fit;
10.2.5.1 To/
10.2.6.1 Any shares owned by the Trust will be registered in the name of
the Trust.
10.2.6.2 All votes attaching to any shares owned by the Trust shall be
exercised on behalf of the Trust by such person (including any
Trustee) and in such manner as the Trustees shall from time to
time determine.
10.2.6.3 The Trustees shall have the power to exercise the voting power
attached to any shares from time to time or for the time being
forming part of the Trust Fund in such manner as they may
consider fit, including:
10.2.6.3.2 for
10.2.6.3.2 for the benefit of the Trust, to cause such change to be made in
the Board of Directors or in the other officers of any of the
companies involved as they may consider fit, and to appoint or
cause to be appointed either one or more of themselves as such
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Directors or officers or cause some other person or persons to
be appointed on the basis that such persons will act as nominees
for the Trustees, and any Trustee receiving from any such
company any fees, salary, bonuses, or commission for services
rendered to such company, shall be entitled to retain the same
for his own benefit and shall not be required to account
therefore to any person interested hereunder; and
10.2.7.2 To decide whether any monies or assets held from time to time
in respect of the Trust are to be treated as capital or income for
the purpose of the Trust, including in respect of any liquidation
dividend, or return of capital, or capitalization of profits in the
case of companies whose shares are being held as part of the
Trust.
TO MAKE/…
10.2.8.2 to employ and, if they see fit, act upon the advice of any
/INVESTMENT…
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10.2.9. Powers to institute and defend legal proceedings To institute or
defend legal proceedings;
10.2.10.3. All contracts, deeds and other documents, which are required to
be signed on behalf of the Trustees, shall be signed in such
manner as the Trustees shall from time to time determine. In the
event of a dispute as to whether such document has been validly
executed on behalf of the Trust, a resolution signed by the
Trustees at the relevant time shall be conclusive evidence on
the point.
MEETING/…
11. MEETING OF TRUSTEES
11.6 In the event of the unavoidable absence of any Trustee from a meeting
of the Trustees, he or she shall be entitled to appoint under power of
attorney any of the other Trustees, and such member will be entitled
to vote on behalf of the absent Trustee, as the case may be, in
accordance with the Trustee’s wishes.
A RESOLUTION/…
11.7 A resolution in writing signed by all the Trustees shall be valid and
effectual as if it had been passed at a meeting of the Trustees duly
called and constituted. All resolutions taken by the Trustees will be
recorded and kept by the secretary of the Trust.
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12.1 The financial transactions of the Trustees shall be conducted by means
of a bank account, and for this purpose the Trustees shall have the
power to open and control any account at a bank or other appropriate
financial
institution and to draw, accept or give cheques, promissory notes, bills
of exchange and other negotiable instruments.
12.2 Any two Trustees, are duly authorized to sign cheques and
withdrawals, provided that one of the trustees is the Founding Trustee
and after his death the chairperson.
12.3 The Trust’s financial year shall be the twelve calendar months
commencing on 1 March and ending on the last day of February of the
following year.
13. ARBITRATION
THIS/…
13.2 This arbitration clause shall not preclude a party from seeking
urgent relief in a court of appropriate jurisdiction, where grounds for
urgency exist.
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cause whatever, save for any loss as shall arise from a willful act
of dishonesty of the Trustee involved.
16.1 The Trust shall be dissolved upon the death of the Beneficiary,
upon which event, the Trustees shall formally cause the issuance of
a resolution for dissolution.
16.2 The resolution shall further provide for the payment of all costs
incurred in the dissolution of the Trust and the application of the
property of the Trust.
TERMINATION/…
17. TERMININATION OF THE TRUST AND DISTRIBUTION OF
THE TRUST FUNDS
17.1In the event that the Trustees resolve to terminate the Trust in
terms of this Deed, the Trustees shall be entitled to distribute
the whole or any part of the capital and/or income of the Trust
Fund to the Beneficiaries, Provided that:
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17.1.1if any of the Beneficiaries shall die prior to the date
upon which she or he, as the case may be, shall be
entitled to his or her share of the Trust Fund, he or
his share shall be paid to such Beneficiary’s lawful
issue by representation per stirpes and failing such
lawful issue to his or her brothers and sisters in equal
shares or their lawful issue per stripes, subject to the
preceding provisos which shall apply mutatis
mutandis.
Any taxes or other levies shall be raised on the income of the Trust Fund
or on the disposition of the assets of the Trust Fund, or for any other
reason whatsoever, such taxes or other levies shall be paid out of the
Trust Fund.
19.1. The Trustees shall cause to be kept true and correct records,
19.3. Professional audit of the financial accounts of the Trust fund shall be
conducted annually.
IN CASE OF OMMISSION
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20.1. In the event of any casus omissus in this Deed, or in the event of any
doubt arising as to the interpretation of its terms, the Trustees shall
decide as they may think proper.
20. DISSOLUTION
In the event of the liquidation, dissolution, termination or winding
up of the Trust, whether voluntarily, involuntary or by operation of
law, all property and funds remaining after the payment of all debts
of the Trust shall be distributed in to other organizations that
operate in the field of peace and human rights advocacy.
(Founder)
AS WITNESSES: -
QUOD ATTESTOR
_____________________
(NOTARY PUBLIC)
The Trustees:
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Signed/Date
_______________________
TRUSTEE
Who declare that they do hereby accept the aforesaid office of the
Trustees upon the terms and conditions and provisions set out in this
Trust Deed.
AS WITNESSES:
1. ___________________
2.___________________
BEFORE ME:
______________________
NOTARY PUBLIC
And/
The Trustees:
Signed/Date
_______________________
TRUSTEE
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Who declare that they do hereby accept the aforesaid office of the
Trustees upon the terms and conditions and provisions set out in this
Trust Deed.
AS WITNESSES:
1. ___________________
2.___________________
BEFORE ME:
______________________
NOTARY PUBLIC
And/
AND FURTHER APPEARED BEFORE ME, the said Notary Public
The Trustees:
Signed/Date
_______________________
TRUSTEE
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Who declare that they do hereby accept the aforesaid office of the
Trustees upon the terms and conditions and provisions set out in this
Trust Deed.
AS WITNESSES:
1. ___________________
2.___________________
BEFORE ME:
______________________
NOTARY PUBLIC
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