Gwrthrychau elusennol
THE TRUSTEES HEREBY DECLARE THAT THE TRUSTEES SHALL HOLD AND APPLY THE TRUST AND ALL OTHER MONEYS WHICH MAY FROM TIME TO TIME BE RECEIVED BY THE TRUSTEES (WHETHER SUCH MONEYS SHALL ARISE FROM DONATIONS, BEQUESTS, DEEDS OF COVENANT OR FROM ANY OTHER SOURCE) AND ALSO THE INVESTMENTS FOR THE TIME BEING REPRESENTING THE SAME (ALL OF WHICH HEREINAFTER ARE INCLUDED IN THE EXPRESSION ("THE TRUST FUND") UPON TRUST TO APPLY BOTH CAPITAL AND INCOME THEREOF TO ADVANCE THE EDUCATION AND/OR TRAINING OF THE PUBLIC PRIMARILY IN DEVON, CORNWALL, THE ISLES OF SCILLY AND THE TAUNTON POSTAL CODE AREA OF SOMERSET IN HOROLOGICAL SKILLS. THE TRUSTEES SHALL HAVE DISCRETIONARY POWER IN EXCEPTIONAL CIRCUMSTANCES TO CONSIDER APPLICATIONS FROM OUTSIDE THE SOUTH WEST AREA AS DEFINED AFORESAID.
