I.   Introductory Provisions

A valid and lawful Fund is a sum of units of monetary value, recorded in one or more designated accounts, set apart for a term of years and one or more specific purposes and available for the payment of debits, debts, legacies and claims in accord with the most sacred Covenant Pactum de Singularis Caelum and these Canons.

In respect of the character, purpose and nature of a Fund:

(i) The Instrument of formation and guiding the character, purpose and nature of one or more Funds is by custom a Will, or Constitution, or Statute, or Patent, or Bill; and

(ii) The underlying property used to derive the value of a Fund must be set aside and sealed in its own Temporary Trust to protect the integrity of the Fund and prevent any re-transfer or re-conveyance that might threaten the value of the Fund; and

(iii) The life or operation of a Fund (the period it conducts business) may be any period up to the specified maximum. Within the present Canons and in reference to authorized Ucadian Funds the maximum is 128 years and for Funds formed under Western-Roman law the maximum is 70 years; and

(iv) A Fund (as in the case of an Estate) may be actual money, or notes, or certificates, or securities or stocks able to be converted or negotiated for monetary value, providing the nature and monetary value of each element is clearly outlined within the accounts of the Fund; and

(v) A Fund is never the original assets themselves, but the Derivation of the value of the underlying assets, as recorded in the accounts and ledgers of the Fund, to permit the remission, remittance, settlement and discharge of debits, debts and obligations; and

(vi) The traditional written form for the remission, remittance, settlement and discharge of any debits, debts and obligations using the stock of the Fund is the form of a Bill, also known as a Bill of Exchange. Where the Fund is a foreign Fund, the Bill is called a Foreign Bill of Exchange; and

(vii) When the term of a Fund expires, it is absolutely forbidden to conduct any more new business. However, it may continue to manage and administer existing business and obligations until all such existing obligations and settlements expire or are balanced or dissolved or liquidated; and

(viii) The property and assets held in Temporary Trust are absolutely forbidden to be released from such a Trust underwriting a Fund until after the term of a Fund expires and after all obligations and settlements are balanced and the fund dissolved or liquidated and the purpose of the Trust is fulfilled and the Trust dissolved; and

(ix) A Fund ceases to exist when it is properly liquidated or dissolved by an action in accord with the instrument of its creation, or after the expiry of its term. In accord with Fiduciary Law, the administrators of a valid Fund are morally obligated to ensure the timely dissolution or liquification of the Fund as soon as practical after such a valid event.

In reference to the Western-Roman maximum for the life and operation of a Fund (the period it conducts business) A Fund may operate to any time specified up to the maximum term known as the “Term of Life or Years”. The originating maxim in relation to the maximum term of years by which a Fund may operate or “engage in business” is the phrase “Term of Life or Years” which then relates to two references inserted in versions of the Bible specially created for the Church of the State being the Church of England:

(i) The first fraudulent scripture reference created in the 16th Century is the one inserted into Psalm 90:10 being “The term of our days (service) is seventy years; and if by reason of resistance (then) it shall be eighty; yet is such resistance (to service) labor and sorrow; for it is soon ended and we are free (of bondage)”; and

(ii) The second fraudulent scripture reference created in the 16th Century is the one inserted into Jeremiah 29:10 being: “Thus says the Lord: After seventy years are completed at Babylon, I will visit you and perform my good word towards you, and cause you to return to this place”.

The activities, obligations and responsibilities associated with the proper management of a Fund are known collectively as Fund Administration. There are seven primary areas of activity, obligation and responsibility in association with any competent Fund Administration being Records Management Systems, Fund Reporting Systems and Administrative Processes Systems:

(i) Records Management Systems are the architecture, classification, paper or electronic methods or applications, information storage, indexing, safety, retrieval, privacy and integrity systems that underpin all Fund Administration processes, reporting and activities;

(ii) Fund Reporting Systems are the architecture, classification, aggregation and compilation methods including all format, automation and transmission needs in respect of all Fund Reporting, Disclosure and Compliance; and

(iii) Administrative Processes Systems are the design of a paper or electronic application system based upon the Records Management System and Fund Reporting System to streamline, automate and improve the quality and accurate of all core activities including but not limited to accounting, ledger entry, reconciliations, reporting, document management, issue management, task management, records management and workflow.

If any part of the creation or foundation or operation of a Fund is based upon any law contrary to these Canons, or any false, or misleading, or fraudulent assertion, then such a Fund is null and void from the beginning, having no validity, or force or effect.

In accord with these Canons, a valid Fund may be established and function for the purpose of remission, remittance, settlement and discharge of any debits, debts and obligations of a Superior Estate where such an estate has been formed in accord with Pactum de Singularis Caelum and the sacred testament known as Voluntatem Et Testamentum.

A Fund shall immediately cease to be valid wherever and whenever any Officer of a Superior Estate or Trust or Body Corporate formed under the laws of the present Canons deliberately and willfully defaults in their obligations and then refuses to acknowledge their wrong.

In respect of the origin of operation of certain Western-Roman Funds:

(i) The first Fund in the case of a special Fund for General Receipts and Repayments for Default of Loans, Penalties and Interest owed to Private Bankers, also known as a Tax Fund or Taxes or “General Revenue” by a government or country has operated for a Term of Life or Years of approximately seventy (70) years since 1534 and King Henry VIII of England (26 Hen.8. c.1) when all first fruits, use and energy of the people of England and Wales was seized in the name of the King as Supreme Spiritual Head of a new type of Church (Church of State); and

(ii) The first Fund in the case of a special Fund for Hypothecation and Security of Loans and Future Obligations to Private Bankers, also known as a Capital Fund or Insurance Fund has operated for a Term of Life or Years of approximately seventy (70) years since 1535 and King Henry VIII of England (27 Hen.8. c.28) when all the homes, lands and tenements of people valued at less than 200 pounds were declared “religious houses” and subjects of the “Church of England” as “spiritual persons” and seized in the name of the King; and

(iii) The first Funds in the case of an Estate comprising two Funds (Real Estate and Personal Estate) for the "Commonwealth" and the "welfare of the people" has operated for a Term of Life or Years of approximately seventy (70) years since 1540 and King Henry VIII of England (32 Hen.8. c.1); and

(iv) The first Funds in the case of a special Fund for the Payment, Settlement and Discharge of Obligations, Debits and Debts of the Kingdom, also known as a Monetary Fund has by custom operated for a Term of Life or Years of approximately seventy (70) years since 1541 and King Henry VIII of England (33 Hen.8. c.39) when the first Privately owned Central Bank was established as the Court of Exchequer and given the absolute powers to use its Private Stock (Exchequer Bills) as Public Money to discharge the obligations of the Crown in the name and seal of the King.