MINUTES OF MEETING
<<FundName>>

HELD ON 		<<Date and Time >>

HELD AT		<<FundAddress>>

PRESENT:
	<<TrusteeName>>	
BUSINESS:	To discuss temporary borrowing arrangement pursuant to Section 67 (2) of
SIS Act.
	
TEMPORARY BORROWING ARRANGEMENT:

	NOTED that the trustee have to make a payment to a beneficiary required by law and/or by the governing rules.
NOTED that trustee have to borrow money to make the payment to the beneficiary.
NOTED that pursuant to Section 67 (2) of SIS Act, borrowing period must not exceed 90 days and the total amount borrowed by the trustee must not exceed 10% of the value of the assets of the fund.

RESOLVED to borrow funds temporarily pursuant to Section 67 (2) from one or more members or any other source deem reasonable by the Trustee. 
	
BORROWING TERMS:	The terms of the loan agreement will be as follows:

Borrowed Amount: <<$        >>

Lender Name: <<Name of Lender>> 

Term of the loan: <<Term >>

Interest Rate: <<%     >>

Security: <<Sender’s Comments>> 

Frequency of Payments: Monthly payments of amount <<$      >> will be made which will cover both principal repayment and interest charge.
	
CONFIRMATION:	Resolved that these minutes be accepted as true and correct record of
the proceedings in this meeting.	

<<Signature of Chairperson>>
…………………………………………..
<<Name of Chairperson>>

Chairperson