Charitable objects
INCOME OF THE FOUNDATION SHALL BE APPLIED IN AWARDING EXHIBITION TO PERSONS OF EITHER SEX WHO HAVE NOT ATTAINED THE AGE OF 25 YEARS, WHO HAVE FOR A PERIOD OF AT LEAST TWO YEARS IN ATTENDANCE AT THE GRAYS, PALMER'S ENDOWED SCHOOL, AND WHO IN OPINION OF THE GOVERNORS, ARE IN NEED OF FINANCIAL ASSISTANCE. (FOR FURTHER DETAILS SEE SCHEME)