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(1) THE OBJECT OF THE SCHOLARSHIP FUND CHARITY IS THE ADVANCEMENT OF THE EDUCATION OF THE PUPILS AT KINGSWOOD SCHOOL BY THE PROVISION OF SCHOLARSHIPS AND AWARDS.
(2) IF AND IN SO FAR AS THE INCOME OF THE CHARITY CANNOT BE APPLIED TOWARDS THE OBJECT SPECIFIED IN SUB-CLAUSE (1) ABOVE, THE TRUSTEE MAY APPLY IT FOR THE GENERAL PURPOSES OF THE SCHOOL.