Charitable objects
4 THE CHARITY'S OBJECTS ("OBJECTS") ARE SPECIFICALLY RESTRICTED TO THE FOLLOWING: (1) THE
ESTABLISHMENT AND MAINTENANCE MAINTENANCE OF A MUSEUM IN THE CITY OF LONDON TO FURTHER THE CAUSE OF FINANCIAL EDUCATION IN THE UK AND WORLDWIDE. (2) IN FURTHERANCE OF THE OBJECTS BUT NOT OTHERWISE THE CHARITY MAY EXERCISE THE FOLLOWING POWERS: (A) TO DRAW, MAKE, ACCEPT, ENDORSE, DISCOUNT EXECUTE AND ISSUE PROMISSORY NOTES, BILLS, CHEQUES AND OTHER INSTRUMENTS, AND TO OPERATE BANK ACCOUNTS IN THE NAME OF THE CHARITY; (B) TO RAISE FUNDS AND TO INVITE AND RECEIVE CONTRIBUTIONS, PROVIDED THAT IN RAISING FUNDS THE CHARITY SHALL NOT UNDERTAKE ANY SUBSTANTIAL PERMANENT TRADING ACTIVITIES AND SHALL CONFORM TO ANY RELEVANT STATUTORY REGULATIONS; (C) TO ACQUIRE, ALTER, IMPROVE AND (SUBJECT TO SUCH CONSENTS AS MAY BE REQUIRED BY LAW) TO CHARGE OR OTHERWISE DISPOSE OF PROPERTY; (D) SUBJECT TO CLAUSE 5 BELOW TO EMPLOY SUCH STAFF, WHO SHALL NOT BE DIRECTORS OF THE CHARITY (HEREINAFTER REFERRED TO AS ÔÇ£THE TRUSTEESÔÇØ), AS ARE NECESSARY FOR THE PROPER PURSUIT OF THE OBJECTS AND TO MAKE ALL REASONABLE AND NECESSARY PROVISION FOR THE PAYMENT OF PENSIONS AND SUPERANNUATION TO STAFF AND THEIR DEPENDANTS; (E) TO ESTABLISH OR SUPPORT ANY CHARITABLE TRUSTS, ASSOCIATIONS OR INSTITUTIONS FORMED FOR ALL OR ANY OF THE OBJECTS; (F)
TO CO-OPERATE WITH OTHER CHARITIES, VOLUNTARY BODIES AND STATUTORY AUTHORITIES OPERATING IN FURTHERANCE OF THE OBJECTS OR SIMILAR CHARITABLE PURPOSES AND TO EXCHANGE INFORMATION AND ADVICE WITH THEM; (G) TO PAY OUT OF THE FUNDS OF THE CHARITY THE COSTS, CHARGES AND EXPENSES OF AND INCIDENTAL TO THE FORMATION AND REGISTRATION OF THE CHARITY; (H) TO DO ALL SUCH OTHER LAWFUL THINGS AS ARE NECESSARY FOR THE ACHIEVEMENT OF THE OBJECTS. POWERS 5 THE CHARITY HAS POWER TO DO ANYTHING WHICH IS CALCULATED TO FURTHER ITS OBJECT(S) OR IS CONDUCIVE OR INCIDENTAL TO DOING SO. IN PARTICULAR, THE CHARITY HAS POWER: (1) TO RAISE FUNDS. IN DOING SO, THE CHARITY MUST NOT UNDERTAKE ANY SUBSTANTIAL PERMANENT TRADING ACTIVITY AND MUST COMPLY WITH ANY RELEVANT STATUTORY REGULATIONS; (2) TO BUY, TAKE ON LEASE OR IN EXCHANGE, HIRE OR OTHERWISE ACQUIRE ANY PROPERTY AND TO MAINTAIN AND EQUIP IT FOR USE; (3) TO SELL, LEASE OR OTHERWISE DISPOSE OF ALL OR ANY PART OF THE PROPERTY BELONGING TO THE CHARITY. IN EXERCISING THIS POWER, THE CHARITY MUST COMPLY AS APPROPRIATE WITH SECTIONS 36 AND 37 OF THE CHARITIES ACT 1993, AS AMENDED BY THE CHARITIES ACT 2006; (4) TO BORROW MONEY AND TO CHARGE THE WHOLE OR ANY PART OF THE PROPERTY BELONGING TO THE CHARITY AS SECURITY FOR REPAYMENT OF THE MONEY BORROWED OR AS SECURITY FOR A GRANT OR THE DISCHARGE OF AN OBLIGATION. THE CHARITY MUST COMPLY AS APPROPRIATE WITH SECTIONS 38 AND 39 OF THE CHARITIES ACT 1993, AS AMENDED BY THE CHARITIES ACT 2006, IF IT WISHES TO MORTGAGE LAND; (5) TO CO-OPERATE WITH OTHER CHARITIES, VOLUNTARY BODIES AND STATUTORY AUTHORITIES AND TO EXCHANGE INFORMATION AND ADVICE WITH THEM; (6) TO ESTABLISH OR SUPPORT ANY CHARITABLE TRUSTS, ASSOCIATIONS OR INSTITUTIONS FORMED FOR ANY OF THE CHARITABLE PURPOSES INCLUDED IN THE OBJECTS; (7) TO ACQUIRE, MERGE WITH OR TO ENTER INTO ANY PARTNERSHIP OR JOINT VENTURE ARRANGEMENT WITH ANY OTHER CHARITY; (8) TO SET ASIDE INCOME AS A RESERVE AGAINST FUTURE EXPENDITURE BUT ONLY IN ACCORDANCE WITH A WRITTEN POLICY ABOUT RESERVES; (9) TO EMPLOY AND REMUNERATE SUCH STAFF AS ARE NECESSARY FOR CARRYING OUT THE WORK OF THE CHARITY. THE CHARITY MAY EMPLOY OR REMUNERATE A DIRECTOR ONLY TO THE EXTENT IT IS PERMITTED TO DO SO BY ARTICLE 6 AND PROVIDED IT COMPLIES WITH THE CONDITIONS IN THAT ARTICLE; (10) TO: (A) DEPOSIT OR INVEST FUNDS; (B) EMPLOY A PROFESSIONAL FUND-MANAGER; AND (C) ARRANGE FOR THE INVESTMENTS OR OTHER PROPERTY OF THE CHARITY TO BE HELD IN THE NAME OF A NOMINEE; IN THE SAME MANNER AND SUBJECT TO THE SAME CONDITIONS AS THE TRUSTEES OF A TRUST ARE PERMITTED TO DO BY THE TRUSTEE ACT 2000; (11) TO PROVIDE INDEMNITY INSURANCE FOR THE DIRECTORS IN ACCORDANCE WITH, AND SUBJECT TO THE CONDITIONS IN, SECTION 73F OF THE CHARITIES ACT 1993; (12) TO PAY OUT OF THE FUNDS OF THE CHARITY THE COSTS OF FORMING AND REGISTERING THE CHARITY BOTH AS A COMPANY AND AS A CHARITY.
