30/09/2020

With 6-member funds likely to become a reality very soon, if you or your clients want to establish or vary their fund to accommodate 6 members we’re ready to help.

Processes – our precedents are ready to take an order for a 6-member fund with the necessary changes to the various establishment documents.

Corporate trustee – we’re ready to set up your corporate trustee with 6 director/members and with the necessary amendments to the various constituent documents of the company and the weighted voting by directors to better reflect their account balances in the fund

Fund deed – we’re ready with the relevant trustee powers not to mention the acknowledgement that the fund can have 6 members, and here also there’s the power to have weighted voting to protect the interests of members with materially higher account balances.

So whether you want a 6-member fund because of a large family or you want to use the fund as a retirement vehicle for a number of different families, we’re ready to help.

For further information, please contact Jeff Song at Townsends Business & Corporate Lawyers on (02) 8296 6222 or email jeff@townsendslaw.com.au to see how we can assist.