Charitable objects
5. THE TRUSTEES MAY APPLY SUCH YEARLY SUM AS THEY THINK FIT, BEING NOT MORE THAN ONE THIRD OF THE NET YEARLY INCOME OF THE FOUNDATION, IN PROVIDING SUCH SPECIAL BENEFITS, OF ANY KIND NOT NORMALLY PROVIDED BY THE LOCAL EDUCATION AUTHORITY, FOR RIPLEY ENDOWED PRIMARY SCHOOL AS MAY FROM TIME TO TIME BE AGREED UPON BETWEEN THE AUTHORITY AND THE TRUSTEES.
6. (1) THE RESIDUE OF THE NET INCOME OF THE FOUNDATION SHALL BE APPLIED BY THE TRUSTEES IN ANY OF THE FOLLOWING WAYS FOR THE BENEFIT OF BOYS AND GIRLS RESIDENT IN THE ANCIENT PARISH OF RIPLEY, WHO, IN THE OPINION OF THE TRUSTEES, ARE IN NEED OF FINANCIAL ASSISTANCE:-
(A) EXHIBITIONS TENABLE AT ANY SECONDARY SCHOOL, TRAINING COLLEGE FOR TEACHERS, UNIVERSITY, OR OTHER INSTITUTION OF FURTHER (INCLUDING PROFESSIONAL AND TECHNICAL) EDUCATION, APPROVED BY THE TRUSTEES, TO BE AWARDED UNDER RULES TO BE MADE BY THE TRUSTEES, INCLUDING RULES AS TO THE VALUE AND PERIOD OF TENURE OF THE EXHIBITIONS, AND THE QUALIFICATIONS AND METHOD OF ASCERTAINMENT AND SELECTION, OF CANDIDATES;
(B) FINANCIAL ASSISTANCE, OUTFITS, CLOTHING, TOOLS, INSTRUMENTS OR BOOKS TO ENABLE BENEFICIARIES ON LEAVING SCHOOL, UNIVERSITY OR ANY OTHER EDUCATIONAL ESTABLISHMENT, TO PREPARE FOR, OR TO ASSIST THEIR ENTRY INTO, A PROFESSION, TRADE OR CALLING;
(C) OTHERWISE PROMOTING THE EDUCATION (INCLUDING SOCIAL OR PHYSICAL TRAINING) OF BENEFICIARIES.
(2) IN THE ALLOCATION OF BENEFITS, THE TRUSTEES SHALL HAVE REGARD TO THE PROMOTION OF EDUCATION IN THE PRINCIPLES OF THE CHURCH OF ENGLAND.
(3) THE TRUSTEES SHALL CONSULT THE LOCAL EDUCATION AUTHORITY AS TO THEIR GENERAL ACTION UNDER THIS CLAUSE AND, IF OCCASION REQUIRES, AS TO THE EDUCATIONAL QUALIFICATIONS OF CANDIDATES FOR BENEFIT.
