Charitable objects
PROVISION OF PRIZES, MAY BE COMPETED FOR BY ALL CANDIDATES WHO SHALL HAVE SERVED UNDER ARTICLES OF CLERKSHIP IN ENGLAND OR WALES, AND WHO MAY, ACCORDING TO THE REGULATIONS OF THE SOCIETY FOT THE TIME BEING IN FORCE, BE QUALIFIED TO UNDERGO THE EXAMINATION AT WHICH THE SAME MAY BE AWARDED. EACH PRIZE SHALL CONSIST OF A GIFT OF MONEY OR BOOKS OUT OF THE INCOME OF THE TRUST FUND, AND SHALL BE AWARDED BY THE COUNCIL OF THE SOCIETY TO SUCH CANDIDATE AS SHALL AT THE EXAMINATION HAVE SHOWN THE GREATEST KNOWLEDGE OF, AND CAPACITY TO ADVISE UPON AND TRANSACT MATTERS OF BUSINESS FALLING WITHIN THE PROVINCE OF A PRACTISING SOLICITOR TO ADVISE UPON AND TRANSACT AS A DISTRINGUISED FROM THE MERE KNOWLEEDGE OF THE PRINCIPLES AND PRACTICE OF THE LAW.