Governing document THE NATIONAL FUND
Governing document
It is not the full text of the charity's governing document.
TRUST DEED DATED 9TH JANUARY 1928, SUPPLEMENTAL DEED DATED 15TH MAY 1995
Charitable objects
THE TRUSTEES SHALL HOLD THE NATIONAL FUND UPON TRUST UNTIL THE DATE OF APPLICATION TO ACCUMULATE THE NET INCOME AND PROFIT THEREOF IN THE WAY OF COMPOUND INTEREST BY INVESTING SUCH INCOME AND PROFIT AND ALL RESULTING INCOME AND PROFIT FROM TIME TO TIME AND ON AND FROM THE TO DATE OF APPLICATION SHALL STAND POSSESSED OF THE NATIONAL FUND INCLUDING THE ACCUMULATIONS UPON TRUST THEN TO TRANSFER AND PAY THE SAME TO THE NATIONAL DEBT COMMISSIONERS TO BE APPLIED BY THEM IN REDUCTION OF THE NATIONAL DEBT. (A) THE DATE OF APPLICATION SHALL BE THE DATE FIXED AS SUCH BY THE TRUSTEES AS BEING THE DATE UPON AND AFTER WHICH EFFECT CAN BE GIVEN TO THE DESIRE OF THE FOUNDER OF THIS TRUST THAT THE NATIONAL FUND SHALL BE RETAINED AND ACCUMULATED UNTIL EITHER ALONE OR WITH OTHER FUNDS THEN PRESENTLY AVAILABLE FOR THE PURPOSE IT IS SUFFICIENT TO DISCHARGE THE NATIONAL DEBT PROVIDED THAT IF IN THE OPINION OF THE TRUSTEES AT ANY TIME OR TIMES NATIONAL EXIGENCIES SHALL REQUIRE AND THE TRUSTEES SHALL DETERMINE THAT SOME PART OF THE NATIONAL FUND SHALL BE FORTHWITH APPLIED IN REDUCTION OF THE NATIONAL DEBT THE TRUSTEES SHALL HAVE POWER TO GIVE EFFECT TO THAT DETERMINATION BY TRANSFERRING AND PAYING THAT PART TO THE NATIONAL DEBT COMMISSIONERS TO BE SO APPLIED BY THEM PROVIDED FURTHER THAT IT SHALL BE THE DUTY OF THE TRUSTEES TO KEEP IN HAND UNTIL THE DATE OF APPLICATION A SUBSTANTIAL PART OF THE NATIONAL FUND TO THE INTENT THAT EFFECT SHALL ULTIMATELY BE GIVEN TO THE DESIRE OF THE FOUNDER OF THIS, AS HEREIN EXPRESSED.
Area of benefit
NOT DEFINED