Trust Advisory Committee. 16
6.1 Initial Members of the TAC 16 6.2 Duties 16
Trust Advisory Committee. As soon as is practicable after the Effective Date, the Trustees shall establish a committee (Trust Advisory Committee) which shall, in the discretion of the Trustees and to the extent that it is reasonably practicable, comprise of representatives from government, recognised trade unions, community leaders and non-governmental organisations, and any other bodies or entities which the Trustees consider may be able to contribute to the purpose for which the Trust Advisory Committee will be established.
Trust Advisory Committee. As soon as is practicable after the Effective Date, the Trustees shall establish a committee (Trust Advisory Committee) which shall, in the discretion of the Trustees and to the extent that it is reasonably practicable, comprise of representatives from government, recognised trade unions, community leaders and non-governmental organisations, and any other bodies or entities which the Trustees consider may be able to contribute to the purpose for which the Trust Advisory Committee will be established. The Trustees shall appoint the members of the Trust Advisory Committee in their discretion from time to time, other than the members referred to in clause 22.3. The Trustees shall convene meetings of the Trust Advisory Committee on a biannual basis, once within 6 (six) months before each AGM and once within 6 (six) months following each AGM, or as more frequently as the Trustees shall decide from time to time (Committee Meeting). At least 1 (one) of the Trustees shall attend Committee Meetings. Members of the Trust Advisory Committee shall be given at least 7 (seven) days’ written notice of the Committee Meeting. The Trust Advisory Committee shall, at each Committee Meeting, advise, give input to, and raise concerns with, the Trustee or Trustees who is/are present at that meeting regarding matters relating to the Trust. The Trust Advisory Committee acts in an advisory capacity, and has no power, express, tacit or implied, to instruct the Trustees, and nothing in this clause 22 shall be construed otherwise.
Trust Advisory Committee. The Trustee shall establish the Trust Advisory Committee and shall ensure that a representative of the Ministry of Natural Resources shall receive notice of and attend, as an invitee, all meetings of the Committee.
Trust Advisory Committee. There will be a trust advisory committee (the “Trust Advisory Committee”), the initial composition of which shall be selected by the Committee, to approve certain material decisions of the Liquidating Trustee, including (i) the sale or liquidation of non-Cash Liquidating Trust Assets for greater than $250,000, (ii) the commencement, settlement, compromise, abandonment, or withdrawal of any Cause of Action with face value greater than $100,000, (iii) the settlement or compromise of any Disputed Claims with face value greater than $50,000 for an Administrative Claim, Priority Tax Claim, or Other Priority Claim, or greater than $250,000 for a General Unsecured Claim; (iv) the retention of professionals by the Liquidating Trust and (v) any other matters which the Liquidating Trustee determines, in his sole discretion, to bring before the Trust Advisory Committee.
Trust Advisory Committee
