Trosolwg o'r elusen SPEAR ENDOWMENT TRUST

SCHEME OF THE 1ST OCTOBER 2007 AS AMENDED BY SCHEME DATED 08 DEC 2017 AS AMENDED BY SCHEME DATED 03 JUL 2018

(1) IN THIS CLAUSE BENEFICIARIESã MEANS PERSONS WHO: (A) ARE OVER THE AGE OF (60); AND (B) ARE IN CONDITIONS OF NEED, HARDSHIP OR DISTRESS; AND (C) EITHER (I) ARE RESIDENT IN THE AREA OF BENEFIT; OR (II) HAVE AT ANY TIME LIVED IN THE AREA OF BENEFIT FOR AT LEAST FIVE YEARS; OR (III) LIVE OUTSIDE THE AREA OF BENEFIT AND ARE APPOINTED AS BENEFICIARIES UNDER SUB-CLAUSE (5) BELOW IN EXCEPTIONAL CIRCUMSTANCES. (2) THE OBJECTS OF THE CHARITY ARE THE ALMSHOUSE OBJECTS AND THE HOUSING AND RESIDENTIAL HOME OBJECTS. (3) THE ALMSHOUSE OBJECTS ARE: (A) THE RELIEF OF BENEFICIARIES BY THE PROVISION OF ALMSHOUSES; AND (B) SUCH CHARITABLE PURPOSES FOR THE BENEFIT OF BENEFICIARIES RESIDENT IN THE ALMSHOUSES AS THE TRUSTEE DECIDES. (4) THE HOUSING AND RESIDENTIAL HOME OBJECTS ARE: (A) THE RELIEF OF BENEFICIARIES BY THE PROVISION OF HOUSING AND ASSOCIATED AMENITIES UPON TERMS APPROPRIATE TO THEIR MEANS; (B) THE RELIEF OF BENEFICIARIES BY THE PROVISION OF A RESIDENTIAL HOME AND ASSOCIATED AMENITIES UPON TERMS APPROPRIATE TO THEIR MEANS. (5) THE TRUSTEE MAY, IN EXCEPTIONAL CIRCUMSTANCES, RELIEVE A PERSON WHO LIVES OUTSIDE THE AREA OF BENEFIT BUT IS OTHERWISE QUALIFIED AS A BENEFICIARY. THE TRUSTEE MUST RECORD IN THE RECORD OF ITS MEETINGS THE NATURE OF THE EXCEPTIONAL CIRCUMSTANCES JUSTIFYING THE APPOINTMENT. THE NUMBER OF PERSONS APPOINTED UNDER THIS SUB-CLAUSE MUST NOT EXCEED ONE-THIRD OF THE NUMBER OF RESIDENTS AT ANY ONE TIME.

NOT DEFINED

SPEAR HOUSING ASSOCIATION LIMITED