Aquaheat South Pacific Limited

The company's business shall be carried on for the sole benefit of Trust Horizon (which is itself a registered charity). Income derived directly or indirectly from business of the Company shall be applied for the sole benefit of Trust Horizon, and is to be applied by Trust Horizon for the charitable purposes of Trust Horizon, being charitable purposes which relate to some aspect of the beneficial use, application or enjoyment in the Eastern Bay of Plenty area of energy resources including such matters described in the Company's constitution.