Charitable objects
OBJECTS
SUBJECT TO CLAUSE 6 HEREOF THE TRUSTEES S HALL APPLY THE TRUST
FUND AND THE INCOME THEREOF:
(A) IN FURTHERANCE OF THE EDUCATION AND TRAINING OF
( I ) ANY CHILD OR YOUNG PERSON WHO IS OR WHO AT ANY TIME
HAS BEEN IN THE CARE OF, OR PROVIDED WITH
ACCOMMODATION BY, OR UNDER THE SUPERVISION OF A
L O C A L AUTHORITY WITH IN THE RELEVANT AREA;
( I I ) ANY CHILD OR YOUNG PERSON IN NEED WITHIN THE MEANING
OF SECTION 17(10) OF THE CHILDREN ACT 1989.
(B) IN PAYMENT TO ANY CHARITABLE OR VOLUNTARY ORGANISATION
WHOSE OBJECTS INCLUDE THE EDUCATION AND TRAINING OF CHILDREN OR YOUNG PERSONS F O R THE FURTHERANCE OF THE
EDUCATION AND TRAINING OF THOSE CHILDREN OR YOUNG PERSONS MENTIONED IN SUBCLAUSES (I) OR ( II ) ABOVE
(C) IN ANY YEAR ENDING UPON THE ANNIVERSARY DATE I T HAS
NOT BEEN POSSIBLE TO EXPEND ALL OF THE INCOME OF THE TRUST FUND ARISING IN T H A T , OR THE IMMEDIATELY PRECEDING
YEAR, IN DISCHARGE OF THE ABOVE OBJECTS, THE TRUSTEES, WITHOUT PREJUDICE T O ANY POWER TO ACCUMULATE THE SAME,
MAY APPLY THE EXCESS OF SUCH INCOME ARISING IN THE YEAR
( I ) IN FURTHERANCE OF THE EDUCATION AND TRAINING OF ANY CHILD OR YOUNG PERSON RESIDENT IN THE RELEVANT
AREA;
( II ) IN PAYMENT TO ANY CHARITABLE OR VOLUNTARY ORGANISATION WHOSE OBJECTS INCLUDE THE EDUCATION AND TRAINING OF CHILDREN OR YOUNG. PERSONS F O R THE FURTHERANCE OF THE EDUCATION AND TRAINING OF CHILDREN OR YOUNG PERSONS IN THE RELEVANT- AREA.
