Cut & Paste from previous Announcement below.
Basicly BNB & BBP are obliged to act in securityholders best interests.
Cut & Paste
The Management Agreement will continue to require that the Manager is specifically and legally obliged to act in the best interest of BBP and its securityholders.
These measures have been designed to ensure the Manager and its employees act and are incentivised to act in the best interests of BBP securityholders.
Fees
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As announced on 29 August 2008, BNB agreed to waive the base fee (1% Net Investment Value) in FY09.
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BBP and BNB have agreed to discuss the base fee in relation to FY10 with regards to any developments arising from the strategic review.
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In addition to the current incentive fee (20% of excess of Stapled Security Return over Benchmark S&P/ASX200AI Return) which has a 3 year reset, an override provision has been agreed whereby no incentive fee will be payable until a sustained security price of $1.50 is reached or until 1 July 2013, whichever is the earlier.
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