Extract from the wills of the Collier Sisters


The following extract from the wills of the Collier sisters explains how the seven designated funds originated.

 

7. (d)    In order to give full effect to my general charitable intentions with regard to the Trust Fund after the [date of death of the last to die of the three Collier sisters], I DIRECT that my Trustees shall after the said Date divide the Trust Fund into fourteen equal parts, and hold such parts for ever UPON THE TRUSTS and with the powers and discretions hereinafter mentioned, that is to say:-

i)    UPON TRUST out of the income of such parts to pay the salaries, commission, costs, charges, expenses and outgoings attending the administration of the Trust Fund as authorised by my Will AND subject to such payments.

ii)    UPON TRUST as to three of such parts to pay or apply the net income thereof to or for such of such Public Benevolent Asylums or Institutions in the State of Victoria as are charitable and in such proportions as my Trustees in their absolute discretion may from time to time determine.

iii)    UPON TRUST as to a further two of such parts to pay or apply the net income thereof to or for such Public Hospitals in the State of Victoria, and in such proportions as my Trustees in their absolute discretion may from time to time determine.

iv)    UPON TRUST as to a further one of such parts to pay the net income thereof to The Lord Mayor's Fund for Metropolitan Hospitals and Charities.

v)    UPON TRUST as to a further two of such parts to pay or apply the net income thereof for such Public Educational Purposes in the Commonwealth of Australia and in such proportions as my Trustees in their absolute discretion may from time to time determine.

vi)    UPON TRUST as to a further two of such parts to pay or apply the net income thereof for such Religious Purposes in the Commonwealth of Australia and in such proportions as my Trustees in their absolute discretion may from time to time determine.

vii)    UPON TRUST as to a further one of such parts to pay the net income thereof to The Lord Mayor's Funds Metropolitan Hospitals and Charities, with power to request that the same be transmitted through the said Fund to any hospital or charity specially designated in advance by my Trustees or held by the Fund upon any special charitable trusts which I empower my Trustees to arrange or settle with the said Fund, including the investment of moneys which my Trustees may from time to time pay to the said Fund. 

viii)    UPON TRUST as to a further three of such parts to pay or apply the net income thereof in such shares or proportions as my Trustees in their absolute discretion may from time to time determine to or for such of the following objects namely, the Relief of Poverty in Australia, the Australian Red Cross Society, the Education of children of deceased or incapacitated Sailors, Soldiers, or Airmen and any other charitable purposes not herein before provided for, as my Trustees in their absolute discretion may from time to time determine

UPDATE


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