This notice is the Securities Act (Kingdom Resources Trust) Exemption Notice 2003.

This notice comes into force on the day after the date of its notification in the Gazette.

This notice expires on the close of 30 September 2008.

(1) In this notice, unless the context otherwise requires,—

(2) Any term or expression that is defined in the Act or the Regulations and used, but not defined, in this notice has the same meaning as in the Act or the Regulations.

The trust and every person acting on its behalf are exempted from sections 33(2), 37, and 37A of the Act and regulation 17 of the Regulations in respect of any debt securities issued by the trust.

The exemption in clause 5 is subject to the conditions that—

• (a) every subscriber for a debt security must receive, before subscribing for the security, an information document relating to the security that contains the information set out in clause 7; and

• (b) at the time of the offer of the debt securities, the aggregate amount of the principal sums owing under outstanding debt securities (not being excluded securities) allotted by the trust, and by any associated person of the trust, must not exceed $5,000,000; and

• (c) no allotment of the debt securities is made if the aggregate amount of the principal sums that would be owing under outstanding debt securities (not being excluded securities) allotted by the trust, and by any associated person of the trust, during the 12-month period ending immediately after the proposed allotment would exceed $4,000,000; and

• (d) no interest is payable in respect of the debt securities; and

• (e) the trust has not offered any debt securities in reliance on any exemption granted by the Securities Act (Charitable and Religious Purposes) Exemption Notice 2003 or by any corresponding previous notice.

The information document referred to in clause 6 must contain the following:

• (a) a prominent statement at the front of the document in the following form:

  “Important Notice

  “Prospective investors are advised that Kingdom Resources Trust, in making this offer of securities, is not subject to the normal requirements to have a registered prospectus and an investment statement under the Securities Act 1978.

  “This is because the Securities Commission has granted an exemption from those requirements to Kingdom Resources Trust. The Securities Commission has not examined or approved this particular offer. Accordingly, the risks associated with this investment may not be as fully disclosed in this document as they would be in an investment statement and registered prospectus.

  “The Securities Commission has granted this exemption on the basis that persons depositing funds with Kingdom Resources Trust are not necessarily seeking a commercial return, but instead wish to support the charitable purposes of Kingdom Resources Trust. The particular purposes of Kingdom Resources Trust are discussed in this document.

  “If the return sought is important to you, you should consider seeking investment advice and”

• (b) the information required by clauses 2, 9, 10, 11, and 12 of Schedule 3D of the Regulations; and

• (c) a description of the charitable purposes for which the money paid by subscribers will be used; and

• (d) the terms and conditions of the offer of the security; and

• (e) any other information that is material to the offer of the security; and

• (f) a statement that it is a term of the offer of the debt securities that, on the request of the offeree, the trust must send, or cause to be sent, without fee and within 5 working days of receiving the request, to that offeree a copy of the most recent audited financial statements of the trust that comply with the Financial Reporting Act 1993.