History of the Trustees

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When the trust was declared on the 23 December 1913 a sum of £30,000 was vested onto the three trustees.

  • James Harvey
  • Alick James Murray
  • Alfred Horsley Chapman

The number of Trustees was increased from three to four by a Deed dated 10 September 1929 executed by the Board of Directors of the Company.

In a Deed of Appointment dated 10 September 1929 the Full Board of the Directors of Elder Smith and Co Limited confirmed Joseph King Samuel as a Trustee and appointed James Frederick Downer and Mr John Richard Baker to be two of the Trustees of the Fund.

In December 1931 the Trustees were
  • J.K. Samuel
  • J.F. Downer
  • J.R. Baker
  • J.H. Hammond
The number of Trustees was then further increased to five. In 1956 the five Trustees were: In 1963 the five Trustees were: In 1974 the five Trustees were:
  • John Neil McEwin
  • Alfred Moxon Simpson
  • Bruce Roy Macklin
  • Ivan Edward Crossing
  • Ronald William Gayler
The terms of the trust were then amended to required that from the 18 February 1974
  • Two of the Trustees were to be elected by the Male Officers {“officer trustees“}
  • One of the Trustee was to be elected by the Pensioners {“pensioner trustee“}, and
  • Two of the Trustees were to be nominated by the Company (Principal Employer) {“director trustees“}.
In 1980 the five Trustees were:
  • John Neil McEwin (Director Trustee)
  • Alfred Moxon Simpson (Director Trustee)
  • Richard Colin Oliver (Officer Trustee)
  • Ivan Edward Crossing (Officer Trustee)
  • Theodore Searle Ambrose (Pensioner Trustee)
On the 20 December 1982 the five Trustees were:
  • John Dorman Elliott (Director Trustee)
  • Alan Gordan McGregor (Director Trustee)
  • Richard Colon Oliver (Officer Trustee)
  • Glenn Barry Rodda (Officer Trustee)
  • Theodore Searle Ambrose (Pensioner Trustee)

On the 20 December 1982 it was purported that the five natural person Trustees were replaced by a sole corporate Trustee where all the Directors were nominated by the Principal Employer and none were elected by the Officers or the Pensioners.

To vary the number of Trustees required a legal document known as “Deed” and for a majority of the Board of the “Principal Employer” to agree in a Directors’ Resolution as recorded in the Directors’ minute book.

There was no “Deed” nor a majority Directors’ Resolution.

Since 1982 there have been three Trustees de son tort intermeddling with the affairs of this trust.

These purported Trustees have been:

  • (i) ACN 005 027 707 {once known as Elders Superannuation Ltd}
  • (ii) ACN 104 967 964 {CCSL Limited}
  • (iii) ACN 082 026 480 {PFS Nominees Pty Ltd}
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    More information on a Trustee de son tort can be found here.