Charitable objects
PROVISION OF ONE PRIZE EACH YEAR TO BE OPEN TO ALL CANDIDATES WHO SHALL BE UNDER THE AGE OF 26 AT THE TIME OF THEIR PASSING THEIR FINAL EXAMINATION AND WHO SHALL HAVE SERVED UNDER ARTICLES OF CLERKSHIP IN ENGLAND AND WALES. THE PRIZE SHALL CONSIST OF THE INCOME OF THE TRUST FUND FOR THE YEAR IN WHICH THE PRIZE IS GIVEN AND SHALL BE AWARDED BY THE COUNCIL OF THE SOCIETY TO SUCH ARTICLED CLERK PASSING ONE OF THE FINAL EXAMINATIONS AS SHALL AT SUCH EXAMINATIONS HAVE OBTAINED HONORARY DISTINCTION AND SHOWN AT THE SAME OR AT ANY SUBSUQUENS SPECIAL EXAMINATION HELD FOR THE PURPOSE, SUCH ACQUAINTANCE WITH THE THEORY, PRINCIPLES AND PRACTICE OF THE LAW AS SHALL, IN THE OPINION OF THE COUNCIL, ENTITLE HIM TO THE PRIZE.