Register of Charities - The Charity Commission SPIRES ACADEMY ENDOWMENT FUND

TRUST DEED DATED 31 MAY 2007.

¶THE TRUSTEE WILL HOLD THE TRUST FUND ON THE TRUSTS DECLARED IN THIS CLAUSE 3. 3.2 SUBJECT TO CLAUSE 3.3 AND 3.4, THE TRUST FUND SHALL BE APPLIED BY THE TRUSTEE TO ASSIST IN SUPPORTING THE ACADEMY'S OBJECTS AND IN PARTICULAR, BUT WITHOUT LIMITATION, TO: 3.2.1 COUNTER THE IMPACT OF DEPRIVATION AND DISADVANTAGE ON EDUCATION; AND 3.2.2 PROMOTE EDUCATIONAL WORK WITHIN THE COMMUNITY SERVED BY THE ACADEMY (THE "OBJECTS"). 3.3 SUBJECT TO CLAUSE 6.1 THE TRUSTEE SHALL USE THE INCOME TOWARDS THE OBJECTS, PROVIDED THAT SUCH INCOME SHALL ONLY BE SPENT BY THE TRUSTEE AFTER HAVING REGARD TO ANY RELEVANT GUIDANCE ISSUED BY THE SECRETARY OF STATE FROM TIME TO TIME ON THE EXPENDITURE OF INCOME ARISING ON ENDOWMENT FUNDS AND THAT THE TRUSTEE SHALL AT LEAST ONCE A YEAR CONSIDER WHETHER THE INCOME SHOULD BE USED TOWARDS THE OBJECTS. 3.4 EXCEPT FOR THE INCOME, THE ENDOWMENT FUND MAY ONLY BE SPENT IF THE TRUSTEE HAS OBTAINED THE PRIOR WRITTEN CONSENT OF THE SECRETARY OF STATE, SUCH CONSENT NOT TO BE UNREASONABLY WITHHELD. 3.5 IN RESPECT OF ANY PARTS OF THE TRUST FUND WHICH DO NOT REPRESENT THE ENDOWMENT FUND, THE TRUSTEE SHALL USE THE INCOME AND THE CAPITAL IN PROMOTING THE OBJECTS. 3.5 THE TRUSTEE SHALL NOT ENTER INTO ANY COMMITMENTS IN RESPECT OF ANY OF THE PRINCIPAL SUM PAYABLE UNDER THIS DEED BUT NOT YET RECEIVED OR IN RESPECT OF ANY ANTICIPATED INCOME OR ON ANY OF THE PRINCIPAL SUM PAYABLE UNDER THIS DEED BUT NOT YET RECEIVED.÷

KENT

SPIRES ACADEMY