The Deed That Cannot be Located

{Published on 17 February 2015}

An occupational pension trust was established in 1913 to provide pensions and benefits to certain male officers of a company called Elder Smith & Co Limited. Elder Smith & Co Limited merged with Goldsbrough Mort & Co Limited in 1963 to form Elder Smith Goldsbrough Mort Limited, which was renamed Elders IXL Limited in 1982.

The terms of the trust were amended to provide survivorship pensions to the widows of qualifying male officers. These provisions remain in force until the provisions are repealed (ie cancelled) by a Deed of Variation in accordance with the Power of Amendment and the general law.

The “NAB Trustee” became a successor Trustee on the 20 January 2014 for this fund.

If the NAB Trustee is going to be able to justify before a Court as to why the ‘NAB Trustee’ is refusing to pay widows their pensions she has to as a bare minimum be able to produce before the Court the original or a copy of the Deed of Variation that repeals Regulation 30A that provides for the survivorship pensions for widows.

To date the NAB Trustee has been unable to produce such a copy to the cestuis que trust (ie members and beneficiaries) of the occupational pension trust established in 1913.