Charitable objects
3.1 THE TRUSTEES SHALL HOLD THE CAPITAL AND INCOME OF THE TRUST FUND UPON TRUST AS TO THE INCOME, AND ALL OR SUCH PART OR PARTS OF THE CAPITAL, AS THE SETTLOR MAY BY NOTICE IN WRITING TO THE TRUSTEES DETERMINE, FOR OR TOWARDS SUCH CHARITABLE PURPOSES, AND TO MAKE DONATIONS TO SUCH CHARITABLE INSTITUTION OR INSTITUTIONS, AT SUCH TIME OR TIMES AND IN SUCH MANNER AS THE SETTLOR MAY FROM TIME TO TIME BY A LIKE NOTICE DIRECT. WHERE THE SETTLOR HAS NOT, BY 5 APRIL IN THE INCOME TAX YEAR FOLLOWING THAT IN WHICH THE INCOME ARISES, GIVEN A DIRECTION WHICH FULLY DISPOSES OF THE INCOME, THEN SUCH INCOME SHALL (SUBJECT TO CLAUSE 22) BE DISPOSED OF IN ACCORDANCE WITH SUB-CLAUSE 3.2
3.2 SUBJECT TO, AND IN DEFAULT OF ANY DIRECTION UNDER SUB-CLAUSE 3.1, AND INSOFAR AS ANY SUCH DIRECTION IS NOT EXHAUSTIVE, THE TRUSTEES SHALL APPLY THE INCOME FOR OR TOWARDS SUCH CHARITABLE PURPOSES AND SHALL MAKE DONATIONS TO SUCH CHARITABLE INSTITUTIONS, AT SUCH TIMES AND IN SUCH MANNER, AS THE TRUSTEES SHALL IN THEIR DISCRETION THINK FIT.
