NAME      
1.         Name    
 
1.1 
   The official name of the Trust shall be “The Malta Historic Vehicle Trust” (MHVT) which shall be a self-governing body situated at 4, Airways House, High Street Sliema, Malta or at any other premises as may from time to time be determined by the Board referred to in Article 4.
 
   
 
1.2
   For the purposes of this statute, the word ‘Trust’ shall be interpreted and understood as to have the same meaning at law as the word Trust, and consequently, the word ‘Trust’ shall apply, in this statute, wherever the word ‘Trust’ is used.
       
2. Duration    
      The duration of the Trust shall be unlimited.
       
3. Objectives    
      The objectives of the Trust shall be as follows:
       
 
3.1
   To encourage the better understanding and the preservation of historic vehicles within the Maltese Islands.
       
 
3.2
   To undertake the rehabilitation and restoration of historic vehicles be they its own or those of other parties.
       
 
3.3
   To encourage the enhancement and preservation of historic vehicles within the Maltese Islands and to liaise with the necessary authorities and/or other bodies in doing so.
       
 
3.4
   To undertake the management of any property both for cultural and commercial uses.
       
 
3.5
   To enter into any partnership with third parties for the achievement or furtherance of the Trust’s objectives as stipulated by this same article.
       
 
3.6
   To transmit its objectives and deeds through published, electronic or any other means.
       
 
3.7
   To establish and keep collections within its own museums.
       
 
3.8
    To establish a database and resource centre for documentation and other types of information related to historic vehicles within the Maltese Islands.
       
 
3.9
   To recreate aspects from the past through historical re-enactments.
       
 
3.10
   To acquire funds for the furtherance of the above objectives from other institutions and/or individuals and/or bodies corporate.
       
4.  Management & Administration
       
 
4.1
   The Trust shall be managed by a Board of Trustees (hereinafter referred to as the Board) which Board shall consist of not less than three members and not more than five members
 
   
 
  Each member will have one vote.
 
   
 
4.2
   Board members are to be appointed in an extraordinary general meeting for a maximum period of five (5) calendar years per term.
       
 
4.3
   Each board member is to be nominated on an individual basis at the extraordinary general meeting referred to in 4.2 above by fully paid-up members of the Trust.
       
 
4.4
   The main responsibility of this Board shall be to decide and to oversee the general policies and strategies of the MHVT.
       
 
4.5
   The Board is to be headed by a Chairman and may be assisted by a Deputy-Chairman, both of whom shall be individually nominated by the members of the board on a simple-majority vote.
       
 
4.6
   The Board Secretary and the Treasurer will be chosen from the other nominated members of the Board.
       
 
4.7
   The Board may appoint special sub-committees, which may include persons who are not members of the Board to prepare and establish projects for the development of the Trust. 
       
 
4.8
   The Board will take its decisions through a simple majority. The Chairman shall have a casting vote.
 
4.9
   The Board will meet at a minimum of once every calendar month.
       
 
4.10
   The Quorum for general meetings of the Board of Trustees is half the members plus one.
       
   
4.11
   In the absence of the Chairman, the Deputy Chairman shall preside over Board Meetings. If both Chairman and Deputy Chairman are absent, then the meeting will not take place and will be duly postponed to another date.
       
 
4.12
   The Board of Trustees may enter into legally binding agreements or contracts with persons or organizations on behalf of the Trust.  Agreements involving payments out of Trust Funds or the disposal of assets belonging to the Trust must be approved by a simple majority.
       
 
4.13
   Notice of general meetings of the Board of Trustees, their date, venue and agenda shall be given to members in writing not less than seven (7) working days before the date of the meeting. The meetings are to be held in the boardroom of the Trust’s headquarters, or in any other place designated by the Board.
       
 
4.14
   The Board Secretary shall keep detailed records of the proceedings of each meeting.  A copy of all official records is to be deposited in the Trust’s archives.
       
 
4.15
   Voting at all meetings of the Board will be by a show of hands, unless any individual member requests a secret ballot.
       
   
4.16
   The day-to-day administration will be the direct responsibility of the Board.
       
 
4.17
   All administration appointments within the Trust shall be approved by the Board of Trustees. Wherever possible, these posts are to be filled by individuals qualified in the respective fields.
       
 
4.18
   The emblem of the Trust is to be determined by the Board and may be incorporated in the letterheads of the Trust and on any items including but not limited to official merchandising intended to be sold by the same. All properties under the direct care of the Trust are to be clearly marked as such.
       
 
4.19
   An annual general meeting must be held where the Board will give a full report to the members of the Trust of the activities and financial situation of the Trust over the past year.
       
5. Finances & Donations   
       
 
5.1
   The Trust is a not-for-profit organization.  Any financial surplus generated through its activities is to be utilized towards the achievement of the objectives outlined in Article 2 above.
       
 
5.2
   The Trust is to operate exclusively on a voluntary basis. Members of the Board shall receive no remuneration. The Board of Trustees may employ full-time or part-time staff to execute and monitor its projects. 
       
 
5.3 
   All funds, except for a petty cash float, shall be deposited in one or more specific bank accounts. All funds and bank accounts are to be used solely for the purpose of furthering the objectives of the Trust. Any cheques drawn on the Trust funds shall be signed jointly by any two of the following appointed Board Members: the Chairman, and/or the Treasurer and/or the Deputy-Chairman.
       
 
5.4
   The Board may raise funds for the Trust through its own initiatives.
       
 
5.5
   The Board may seek to acquire corporate sponsorship for the development and running of the Trust.
       
 
5.6
   The Board has the option to appoint auditors to oversee the financial administration and running of the Trust.
 
   
6. Donations    
 
6.1
   The Board of Trustees may draw up a set of policies, guidelines and regulations governing the donation of any assets by third parties.
       
 
6.2
   Policies, guidelines and regulations on this matter will be established, or changed, by a two-thirds majority vote of all the members of the Board of Trustees.
       
 
6.3
   The Board will accept donations if it considers these to be of advantage to the Trust. Each donation will be fully registered and acknowledged in the records of the Trust.
       
7. Dissolution    
 
7.1
   Should the Trust cease to function, then, the members will appoint an Administrator to wind up its affairs.
       
 
7.2
   In the absence of the Board, the Curator will appoint an Administrator.
       
 
7.3
    In the event of dissolution, all assets owned by the Trust are to be transferred to Fondazzjoni Wirt Artna (Malta Heritage Trust). These include any cash balances.
       
 
7.4
  During dissolution, provision must be made to safeguard the rights of benefactors and donors of the Trust as well as of any owners of exhibits housed in the Trust’s premises.
       
8. Patron    
      The Director of Civil Protection shall be invited to be Patron of the Trust for the duration of his term of office.
       
9.  Domicile & Applicable Law
       
      The Trust shall be domiciled in Malta.  All legal relationships of this Trust are governed solely by the law of the Maltese Islands.
       
10. Amendments    
      This Statute can be amended by the Board of Trustees provided that two-thirds of the members composing the same shall vote in favour of such an amendment.