A/c. No. MA22370.0005
Thorntons Law LLP
33 Yeaman Shore
Telephone 01382 229111
Fax 01382 202288
We GRAHAM THOMSON, residing at Tealing House, Tealing DD4 0QZ, STEPHEN MARTIN, residing at 4 Colin Gibson Drive, Monifieth DD5 4HA, and PETER MARR, residing at 42 Victoria Road, Broughty Ferry, Dundee DD5 1BJ (hereinafter referred to as "the Settlors") being desirous of setting up a Trust to be known as the “Dark Blue Business Trust” (hereinafter referred to as “the Trust”) in the following terms, hereby nominate and appoint the said Graham Thomson, Stephen Martin and Pater Marr as Trustees hereunder (the Trustees or Trustee for the time being acting hereunder being hereinafter referred to as the "Trustees") to hold and administer the Trust Fund as hereinafter described for the following purposes:-
1. In this Deed the following terms, where the context so admits, shall have the following meanings:-
(i) "Trust Fund" means all funds or assets which may at any time hereinafter be settled on, or donated, bequeathed, or made over to, or otherwise acquired by the Trustees, and all (if any) accumulated income thereon, and the investments from time to time representing the same, or any part thereof;
(ii) "Termination Date" means the Thirty first day of December, in the year Two Thousand and Eighty Five, or such lawful later date as the Trustees may resolve upon by Minute of the Trustees executed prior to that date;
2. These presents shall be construed, and the Trust Fund shall be administered, according to the Law of Scotland, provided always that the Trustees shall have power to determine any question or matter of doubt arising in the administration of the Trust Fund or in the interpretation of these presents and every such determination by the Trustees shall be conclusive as far as the law may allow.
3. The Trust hereby created shall not be charitable.
4. The headings to Clauses are for convenient reference only and are not to be construed as part of the Deed.
5. The Trustees shall hold the Trust Fund for the purpose exclusively of ensuring the survival and continuity in a sustainable form of The Dundee Football Club Ltd. (hereinafter referred to as “the Club”) or any other body formed with the intention of carrying on the business of the Club, provided that such body has been accepted to full membership of the Scottish Football League (hereinafter referred to as “the League”).
6. For the purpose of implementing the provisions of Clause 5 hereof, until the Termination Date, the Trustees shall from time to time and at any time in their uncontrolled discretion, but subject always to the discretionary powers conferred on them under Clause 7 hereof, pay or apply the capital or donate the income of the Trust Fund, in sums of such amount as the Trustees in their absolute discretion may decide, in any one or more or all of the following ways, videlicet:-
ddbt trust deed