Charitable objects
THE TRUSTEES SHALL APPLY THE INCOME OF THE CHARITY: 1. TO PAY THE COST OF REPAIRS AND INSURANCE AND ALL OTHER CHARGES AND OUTGOINGS PAYABLE IN RESPECT OF THE CHARITY AND ALL THE PROPER COSTS, CHARGES AND EXPENSES OF AN INCIDENTAL TO THE ADMINSTRATION AND MANAGEMENT OF THE CHARITY; 2. TO ESTABLISH AND MAINTAIN A RESERVE FUND FOR THE PURPOSE OF PROVIDING FOR THE EXTRAORDINARY REPAIR, IMPROVEMENT OR REBUILDING OF THE COLLEGE AND OTHER PROPERTY BELONGING TO THE CHARITY; 3. FOR THE BENEFIT OF THE BRETHREN AND SISTERS OR ANY OF THEM IN SUCH MANNER AS THE TRUSTEES THINK FIT FROM TIME TO TIME.
