Finances:
Objects:
(1) the trustees shall hold the trust fund and the income thereof upon trust to pay therefrom all the proper costs and expenses incurred by the trustees in establishing and administering the charity and the trust fund and subject thereto to pay or apply the capital and income thereof in such manner and in such proportions as the trustees may from time to time in their absolute discretion determine for the advancement of the education of the pupils of the school(2) for the purposes aforesaid the trustees may make any payment or transfer of the capital or income of the trust fund or any part thereof either to the governing body or to the authority or to other charity on the terms that the same shall be applied by it or them for such charitable purposes as may be specified by the trustees and receipt of the treasurer or other officer of such body shall be a good discharge for the trustees.
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