UNBC as Beneficiary

Role of Board of Governors and Appointer – the UNBC Board of Governors acts on behalf of, and in the best interests of the University. The Appointer is the Chair of the Board and is the person who has the power to: with the consent of the Board, remove beneficiaries and appoint new beneficiaries; with the consent of the Board, appoint a substitute Trustee; and approve any proposed amendments to the Trust Deed.    

All of the Trust’s net income will be distributed annually to one or both of the beneficiaries. There will be a presumption that if not otherwise distributed, it will be distributed to UNBC.  

UNBC Foundation - The UNBC Foundation exists by virtue of the University Foundations Act, so that it may establish operations sufficient to receive distributions from the Trust (if made by the Trustee) and establish a structure necessary to decide on the investment and/or distribution of such funds. Though active in the early years of UNBC operation, the UNBC Foundation has been unnecessary and dormant for nearly two decades. It will be re-animated to act as a second beneficiary for the UNBC Land Trust.