Articles
Master Trust Deed &
General Bylaws
The complete legal architecture governing the Heritage Gemstone Preservation Trust. This instrument establishes the bankruptcy-remote vehicle that holds every physical asset underpinning a Kernax fraction.
Purpose of the Trust
The Heritage Gemstone Preservation Trust is established to hold, safeguard, and administer physical investment-grade gemstones (the "Trust Property") for the exclusive beneficial interest of verified holders of Kernax ERC-3643 fraction tokens. The Trust is bankruptcy-remote from Kernax Asset Architecture (IFSC) Pvt. Ltd. and any other operating entity.
Parties
The Settlor is Kernax Asset Architecture (IFSC) Pvt. Ltd. The Trustee is an independent fiduciary licensed under the IFSCA Sandbox Framework. The Beneficiaries are verified holders of Kernax ERC-3643 fraction tokens, pro rata to balance, identified cryptographically by their whitelisted wallet addresses.
Powers & Duties of the Trustee
The Trustee shall (a) take and maintain physical possession of all Trust Property in approved high-security vault facilities; (b) maintain full specie insurance coverage; (c) cause the periodic publication of Safekeeping Receipts (SKRs) and submit to monthly third-party audits; and (d) honor verified Burn-to-Wear redemption events by releasing the corresponding physical asset to the named Beneficiary.
Bylaws of Conduct
The Trustee shall not transfer, pledge, lend, encumber, or otherwise alienate the Trust Property except in execution of a Burn-to-Wear event. The Trustee shall not co-mingle Trust Property with assets of the Settlor or any other person.
Termination & Successor
Upon insolvency or dissolution of the Settlor, the Trust continues uninterrupted. The Trustee shall continue to honor Burn-to-Wear redemptions and shall appoint a successor Trustee with the prior approval of a Beneficiary majority and the IFSCA.
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