Charitable objects
AFTER PAYMENT OF ADMINISTRATION EXPENSES THE TRUSTEES SHALL APPLY THE NET YEARLY INCOME OF THE TRUST IN ONE OR BOTH OF THE FOLLOWING:- 1. THE AWARD OF PRIZES FOR SPECIAL PROFICIENCY IN HISTORY, SOCIAL SCIENCE AND ECONOMICS OR ANY ONE OR MORE OF THOSE SUBJECTS. 2. THE AWARD OF BURSARIES, EXHIBITIONS OR SCHOLARSHIPS TENABLE EITHER:- (A) AT ANY SCHOOL, UNIVERSITY OR OTHER EDUCATIONAL ESTABLISHMENT APPROVED FOR THE PURPOSE BY THE TRUSTEES; OR (B) FOR THE PURPOSE OF ENABLING THE RECIPIENTS TO UNDERTAKE TRAVEL IN FURTHERANCE OF THEIR EDUCATION, TO STUDY MUSIC OR OTHER ARTS OR TO RECEIVE TRAINING FOR ANY PROFESSION, TRADE OR CALLING.
