Consolidation Deed of Variation

  • Slide2
  • Slide3
  • full screen slider
  • Slide1
image carousel by WOWSlider.com v7.4
 

The original Trust deed was made on the 23 December 1913.

The first Deed of Variation was executed on 7 October 1913 and a further thirteen Deeds of Variation were then made and these were consolidated in a consolidation Deed of Variation executed on the 6 May 1958.

A copy of the consolidation Deed of Variation can be located on the following link:

1958 Consolidation Deed of Variation

An inspection of the consolidation Deed of Variation confirms that the conditions imposed by the Power of Amendment were complied with, namely:

  • the amending instrument was a Deed;
  • a majority of the Directors executed the Deed; and
  • a majority of the natural person Trustees also gave their consent.
  • The Deed was also duty stamped.

    All five of the following Trustees gave their assent to the first Deed of Variation:

  • Alexander John Melrose (1889-1962)
  • Sir Frederick Lloyd Dumas (1891-1973)
  • Tom Elder Barr Smith (1904-1968)
  • Reginald Walter Seedsman
  • James Gordon Dobbs
  •  

    Frederick Lloyd Dumas was also the second Chairman of Advertiser Newspapers Limited, the publisher of “The Advertiser” in Adelaide.

    The Directors of the sponsoring Employer in 1958 were:

  • Alexander John Melrose {Chairman}
  • Alfred Moxon Simpson {Deputy Chairman}
  • Collier Robert Cudmore MLC
  • Sir Frederick Lloyd Dumas
  • Tom Elder Barr Smith
  • Ian Richart McTaggart
  • Henry Norman Giles
  • Norman Smith Young
  •  

    All the Directors executed the consolidation Deed of Variation on the 6 May 1958.

    The Pension Formula

    The pension formula was amended by the consolidation Deed of Variation to improve the pension when a male officer was retrenched before attaining the early retirement age of 60.

    The amended pension formula is:

    [Years of Service]/[Age when Leaving Service] times [Final Average Salary]

    More details on the amended pension formula can be found here.

    Renumbering of Regulations

    The Regulations in the original Trust Deed and those added by subsequent Deeds of Variation were renumbered in the consolidation Deed of Variation.

    Regulations  

    Duty Stamping

    All Deeds related to trusts established in South Australia were required to be duty stamped pursuant the Duty Stamps Act 1923 (SA) prior to 1 July 2006.

    The Commissioner of State Taxation has confirmed that the consolidation Deed of Variation was correctly duty stamped.  
    Duty stamp 3b