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SCHOLARSHIP OR GRANTS, TENABLE AT ANY UNIVERSITY, UNIVERSITY COLLEGE, TRAINING COLLEGE FOR TEACHERS, OR OTHER INSTITUTION OF FURTHER (INCLUDING PROFESSIONAL AND TECHNICAL) EDUCATION. PREFERENA SHALL BE GIVEN TO BENEFICIARIES WHO ARE, OR ARE ABOUT TO BECOME UNDERGRADUATES AT THE UNIVERSITY COLLEGE OF NORTH WALES, BANGOR. ANY RESIDUE REMAINING FROM THE NET YEARLY INCOME MAY BE EXPENDED IN PROVIDING BURSARIES OR MAINTENANCE, FINANCIAL ASSISTANCE, ETC. BENEFICIARIES ARE PERSONS OF EITHER SEX BORN OR RESIDENT IN THE BENEFICIAL AREA WHO HAVE NOT ATTAINED THE AGE OF 25 YEARS, AND WHO ARE, IN NEED OF ASSISTANCE.
