Charitable objects
TO ESTABLISH AND MAINTAIN SCHOLARSHIPS OF SUCH ANNUAL VALUE AS THE COMPANY MAY FROM TIME TO TIME THINK PROPER TO BE HELD BY A PUPIL WHO (1) HAS OR WILL HAVE ATTENDED FULL TIME EDUCATION FOR MINIMUM PERIOD OF FIVE YEARS AT EITHER THE CITY OF LONDON SCHOOL OR THE CITY OF LONDON SCHOOL FOR GIRLS AND (2) OBTAINS A PLACE AT A COLLEGE FORMING PART OF LONDON UNIVERSITY OR AT THE GUILDHALL SCHOOL OF MUSIC AND DRAMA AND (3) WOULD OTHERWISE BECAUSE OF HIS HER OR THEIR FAMILY'S FINANCIAL CIRCUMSTANCES BE UNABLE TO TAKE UP SUCH PLACE.