The Panikkar Family FoundationRegistered

Ongoing donation programs the trustees shall maintain manage and invest the trust fund and apply from time to time all or part of the capital thereof and/or the income derived therefrom as determined in their sole discretion in furtherance of the objects of the trust including without limiting the generality of the foregoing by means of distributions of capital of the trust fund and/or the income derived therefrom from time to time to one or more qualified donees whose objects are exclusively charitable as determined by the trustees in their sole discretion providing that in exercising their discretion the trustees shall have regard to all regulatory obligations imposed on them inclusive of any requirements to disburse amounts of income and/or capital pursuant to the income tax act.