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B) TO HOLD THE BALANCE ON TRUST TO BE KNOWN AS THE RUSSELL PENNEY TRUST FOR A PERIOD OF EIGHTY YEARS THE ANNUAL INCOME OF WHICH SHALL BE HELD
1) AS TO 46% UPON TRUST TO PROVIDE PRIZES TO THE SCHOLARS OF PENISTONE GRAMMAR SCHOOL UPON THE FOLLOWING TERMS:-
I) THE PRIZE SHALL BE AWARDED EACH YEAR IN THE SUM OF ú2,000 EACH TO NOT MORE THAN TWO PUPILS FOR THREE YEARS EACH TO ASSIST THE PUPILS THROUGH UNIVERSITY
II) THE PUPILS TO BE SELECTED SHALL BE TWO PUPILS FROM EACH ACADEMIC YEAR WHILST THEY ARE ON A DEGREE COURSE FOR MATHEMATICS SCIENCE SUBJECTS BUSINESS STUDIES ENGLISH OR MODERN LANGUAGES TO BE CHOSEN BY MY TRUSTEES AS CONSCIENTIOUS STUDENTS IN CONSULTATION WITH THE HEAD TEACHER
III) THE PRIZES SHALL BE AWARDED ON THE BASIS THAT THEY SHALL AUTOMATICALLY BE WITHDRAWN IF THE WINNERS ARE CONVICTED OF ANY CRIMINAL OFFENCE OTHERWISE THAN A MOTORING/ROAD TRAFFIC OFFENCE
IV) PROVIDED THAT THE EXCESS INCOME ABOVE ú2,000 PER YEAR FOR TWO PUPILS IN EACH OF THE FIRST TWO YEARS SHALL BE ACCUMULATED BY THE TRUSTEES WHO SHALL HAVE UNFETTERED DISCRETION TO APPLY THE SAME SUBSEQUENTLY TO MEET ANY CIRCUMSTANCES OF EXCEPTIONAL HARDSHIP TO ANY OF THE CHOSEN PUPILS
2) AS TO 9% FOR THE TRUSTEES OF SPRINGVALE METHODIST CHURCH PROVIDED THAT IT IS AT THE DATE STILL A CHAPEL AND IS SERVING THE SPRINGVALE AREA
3) AS TO 9% FOR RNLI REGISTERED CHARITY 209603
4) AS TO 9% FOR ST PETERS HOSPICE BURNLEY
5) AS TO 9% FOR LEUKAEMIA RESEARCH FUND OF 43 GREAT ORMOND STREET LONDON WC1 3JJ REGISTERED CHARITY 216032
6) AS TO 9% FOR THE CANCER RESEARCH AND CAMPAIGN OF 10 CAMBRIDGE TERRACE LONDON NW1 4JL REGISTERED CHARITY 225838
7) AS TO 9% FOR ALZHEIMER'S RESEARCH - BRACE OF THE BRACE APPEAL OF THE BRACE APPEAL OFFICE BLACKBERRY HILL HOSPITAL MANOR ROAD FISHPONDS BRISTOL BS16 2EW REGISTERED CHARITY 297965
