Charitable objects
THE OBJECT OF THE CIO IS “THE TRUSTEES SHALL HOLD THE CHARITY’S PROPERTY UPON TRUST TO PERMIT THE SAME TO BE USED IN PERPETUITY FOR THE PREVENTION OR RELIEF OF POVERTY BY PROVIDING SOCIAL HOUSING, IN THE FORM OF ALMSHOUSE ACCOMMODATION, FOR ELDERLY AND ELIGIBLE PERSONS IN NEED OF SUCH ACCOMMODATION DUE TO FINANCIAL HARDSHIP OR LIMITED FINANCIAL RESOURCES, WHO (EXCEPT IN SPECIAL CASES TO BE DETERMINED BY THE TRUSTEES) HAVE RESIDED FOR NOT LESS THAN NINE OF THE TEN YEARS PRECEDING APPOINTMENT IN A DWELLING EITHER IN THE METROPOLITAN BOROUGH OF STOCKPORT OR WITHIN FIVE MILES OF STOCKPORT TOWN HALL.”
