FUNDING OF CAPITAL FUND

1. There shall be a fund known as the Capital Fund which shall consist of donations made thereto by members and other persons and legacies under the wills of members and other persons which are specifically directed to be paid into or to be applied for the purposes of the Capital Fund. The Committee may refuse any donation or renounce any legacy.

TRANSFERRING OF MONEY TO CAPITAL FUND

2. The Committee shall have power to transfer money or investments from the general funds of the Club to the Capital Fund as shall from time to time be sanctioned by Life, Ordinary and Supernumerary Members at an Annual General Meeting or Special General Meeting.

OPERATION OF CAPITAL FUND

3. All money or investments forming part of the Capital Fund from time to time and all donations and legacies made or given to the Capital Fund and money or investments transferred to the Capital Fund in accordance with Sub-Rule 2 of this Rule will be held by the Corporate Trustee as custodian trustee for the Life, Ordinary and Supernumerary Members and which shall invest the same in or upon any of the investments authorised by these Rules with power to vary or transpose any investments for or into others of a nature so authorised and shall from time to time at the request in writing of the Committee apply any moneys for the time being representing income of the Capital Fund for the purpose of renovating or repairing (including painting) the Club premises or the furniture or furnishing therein purchasing other furniture or furnishings except that if any donation or legacy is given or made by the donor for a specific purpose then and in any such case the donation or legacy or the income there from shall be applied to give effect for such purpose.

INVESTMENT OF CAPITAL FUND

4. Money in the Capital Fund may be invested with such consent as aforesaid in or upon any of the investments for the time being authorised by the laws in force anywhere in Australia for the investment of trust funds or in or upon the fully paid up shares of stock debentures or a debenture stock or notes or other securities of or on deposit with any limited liability company incorporated or carrying on business in any part of Australia.

RESTRICTIONS ON OPERATION

5. Unless authorised by a special resolution:

(a) no portion of the capital of the Capital Fund may be expended for any purpose other than investment; and

(b) no portion of the income of the Capital Fund shall be applied for any purpose other than one of the purposes mentioned in Sub-Rule 3 of this Rule.