Trustee

The Trustee shall stand possessed of the Trust Fund for the benefit of all or any one or more of the Discretionary Beneficiaries and with such powers of appointment, maintenance and advancement in favor of all or any one or more of them, as the Trustee, with the written consent of the Protector, may in its discretion think fit.

Settlor

During the lifetime of the Settlor the Trustee shall distribute the Trust Fund or any part thereof to such one or more Discretionary Beneficiaries, on such terms and conditions, either outright or in trust, as the Settlor may from time to time appoint by a signed written instrument delivered to the Trustee, with such instrument specifically referring to and exercising this power of appointment.