Any property of KZNNA whether freehold or leasehold shall be vested in Management Committee and Members of Management Committee shall be the Trustees of KZNNA. The Trustees shall deal with the said property as directed by resolution passed by a majority of the voting power present at an AGM, provided that the terms of such direction appear on the agenda for that meeting.
Exceptionally the Management Committee may at a duly convened meeting resolve by a majority of the voting members present to give the trustees such direction provided that the terms of such direction appear on the agenda for that meeting and provided it has been resolved at that meeting that the giving of such direction is urgently necessary in the best interests of the KZNNA.
The said trustees shall be appointed at the Annual General Meeting (hereinafter referred to as the AGM) subject to notice of such vacancy being published and nominations invited. Any trustee who takes up residence outside the Republic of South Africa or who becomes incapable of acting or who fails to deal with the said property as duly directed shall be deemed to have resigned. Any vacancy that may from time to time occur shall be filled by appointment made at the next ensuing AGM subject to notice of such vacancy being published and nominations invited.
The Trustees shall jointly and severally be indemnified from the funds of KZNNA for any liability or expense that may from time to time fall upon them as trustees of the said property.