MCKENZIE TRUST VARIATION SOUGHT

Chronicle (Levin), 25 June 1947, Page 3

MCKENZIE TRUST VARIATION SOUGHT

WELLINGTON, June 24. Variation of the conditions of the J. R. McKenzie Trust to give the trustees wider discretion in making grants to eharitable objects is sought in a Private Bill, which is likely to be presented early in the session by Mr. C. II. Chapman (Wellington Central). In the six years of its existence £35,600 has been distributed from the income of this trust fund. The trust was established by John Robert McKenzie, of Christchurch, mer^jiant, on February 12, 1940, and under the deed by which it was established, the annual income was to be divided iirto five equal parts. Four parts were to be devoted to the benefit of disabled ex-servicemen, the Plunket Society, and sick or backward children other than those covered by the Crippled Children Society.

The fifth part of the income was to be devoted to any eharitable or edueational purpose seiected by the trustees. The Bill states that the board of trustees has found itself to be unduly restricted under this system, and seeks the division of the income into four ■equal parts. One part would then be devoted to the three objects specified in the original deed in a proportion to be. fixed by the board. The three remaining parts would be devoted to anv eharitable or educational purposeseiected by the trustees, ineluding tlie three previously mentioned.