Charitable objects
THE SUM OF £5,150,000 REPRESENTING THE CLEAR NET PROCEEDS OF SALE OF THE PROPERTIES OF THE CHARITY WHICH WERE DISPOSED OF UNDER THE AUTHORITY OF AN ORDER OF THE CHARITY COMMISSION DATED 19 JANUARY 2011 ON 3 OCTOBER 2011 SHALL REMAIN INVESTED AS CAPITAL AND SHALL BE TRANSFERRED TO THE ASSOCIATION TO BE ADDED TO THE CAPITAL OF ITS GENERAL PERMANENT ENDOWMENT FUND
ESTABLISHED UNDER ITS BYELAWS DATED 1 AUGUST 2014 KNOWN AS THE GENERAL ENDOWMENT FUND. THE REMAINDER OF THE FUNDS OF THE CHARITY REPRESENTING THE CAPITAL INCREASE IN VALUE OF THE
INVESTMENTS REPRESENTING THE SAID CLEAR PROCEEDS OF SALE OF THE PROPERTIES AND ANY INCOME SHALL BE TRANSFERRED TO THE ASSOCIATION TO BE HELD AS PART OF THE ASSOCIATION’S GENERAL
FUNDS.