The Roly and June Tonge Foundation

THE TRUSTEES SHALL HOLD THE CAPITAL AND INCOME OF THE CHARITABLE TRUST FUND UPON TRUST TO APPLY THE INCOME AND ALL OR SUCH PART OR PARTS OF THE CAPITAL FOR OR TOWARDS SUCH CHARITABLE PURPOSES AND TO MAKE DONATIONS TO SUCH CHARITABLE INSTITUTION OR INSTITUTIONS AT SUCH TIME OR TIMES AND IN SUCH MANNER AS THE TRUSTEES MAY IN THEIR ABSOLUTE DISCRETION THINK FIT PROVIDED THAT THE TRUSTEES MAY IN THEIR ABSOLUTE DISCRETION FOR THE PERIOD OF TWENTY ONE (21) YEARS FROM THE DATE OF MY DEATH INSTEAD OF APPLYING THE INCOME IN ANY YEAR ACCUMULATE ALL OR ANY PART OF SUCH INCOME AT COMPOUND INTEREST BY INVESTING THE SAME AND THE RESULTING INCOME IN ANY INVESTMENT AUTHORISED BY MY WILL OR BY LAW AND HOLD THE SAME AS AN ACCRETION TO AND AS PART OF THE CAPITAL WITHOUT PREJUDICE TO THEIR RIGHT TO APPLY THE WHOLE OR ANY PART OF SUCH ACCUMULATED INCOME IN ANY SUBSEQUENT YEAR AS IF THE SAME WERE INCOME ARISING IN THE THEN CURRENT YEAR.