• The applicant must issue a minimum of 26% of the ordinary capital of the limited company - either an existing company or one set up specially to carry out the enterprise - to the McKenzie Trust, and there cannot be any preference capital issued while the Trust has an investment. The actual proportion of the ordinary capital to be issued to the McKenzie Trust will be agreed between the applicant and the Trust. In special circumstances the shareholding might be issued at less than the minimum e.g. where the enterprise had a substantial capital base.
• If the applicant operates as a sole trader or partnership then the Trust will negotiate mutually agreed terms for participation having similar effect.
• The applicant and the applicant's family may normally only draw or be paid by whatever manner at a rate to be agreed with the Trustees but which shall not exceed 75% of the going market rate for the job or jobs they are undertaking plus 10% of the realised profits plus any dividends paid to all shareholders. The applicant should be prepared to provide details of the business and its progress financial and otherwise quarterly and more often if the trustees request.

If the enterprise requires legal, accountancy or banking assistance while the McKenzie Trust has a shareholding then it strongly recommended that such assistance should be obtained through the firms represented by the relevant trustees at the time the service is required, at normal commercial rates, for a period

• not exceeding six months from commencement of the relevant service, but this requirement shall not apply where the Trust itself is involved in any dispute between shareholders in the enterprise. After that time the applicant company is free to choose any suitable firm in the appropriate sector.

From grant to first anniversary at a rate of 1.35 times the grant

From the day after the first anniversary to second anniversary at a rate of 1.6 times the grant

From the day after the second anniversary to third anniversary at a rate of 1.85 times the grant

From the day after the third anniversary to fourth anniversary at 2.15 times the grant

From the day after the fourth anniversary to fifth anniversary at a rate of 2.5 times the grant

From the day after the fifth anniversary at 2.88 times the grant plus 10% compound interest to be calculated from the fifth anniversary to the date of repurchase.

These multiples may occasionally be reduced if special circumstances warrant but applicants should appreciate that the Charity needs to replenish its funds so that new applicants can also be helped.

The McKenzie Trust shall hold the investment, if not repurchased as above, for a minimum period of five years. After five years from issue they shall be free to sell all or part of the shareholding to any other person or corporation, but will not do so at less than the amounts calculated above without the written permission of the applicant or his assigns.

The McKenzie Trust shall not be entitled to any remuneration by virtue of their shareholding other than dividends which are payable to all shareholders.