special benefits
residue of the net
net yearly income of the foundation
school not usually
allowances to enable beneficiaries
Finances:
Objects:
11. (a) the net yearly income of the foundation shall be applied by the trustees -(i) in providing special benefits facilities and equipment of any kind for the benefit of the pupils of the school not usually provided by the local education authority for the school(ii) in setting aside to a reserve fund such sum as the trustees think prudent to meet the costs of extraordinary benefits which in their discretion they think fit to provide for the school(b) the residue of the net yearly income of the foundation shall be applied by the trustees in one or more of the following ways -(1) in awarding scholarships or maintenance allowances to enable beneficiaries to pursue and continue their education and in particular (but without prejudice to the generality of the foregoing) to travel at home or abroad for such purposes;(ii) in awarding to beneficiaries exhibitions, scholarships, bursaries or maintenance allowances tenable at any college of education, (including technical or physical education), university, or other place of learning approved by the trustees;(iii) in providing financial assistance, outfits, clothing, tools, instruments or books to enable beneficiaries, on leaving school, a university or any other educational establishment to prepare for, or to assist their entry into a profession, trade or calling;(iv) in providing financial assistance to enable beneficiaries to study music or other arts technical or physical education, and (v) in otherwise promoting the education, (including social and physical training) of beneficiaries.
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