Finances:
Objects:
the objects of the cio are:3.1 first, the provision of residential accommodation for the occupants upon terms appropriate to their means in accordance with such rules and regulations as the charity trustees shall from time to time in their absolute and uncontrolled discretion think fit;3.2 secondly, the provision of financial assistance and support by way of grant or otherwise upon such terms as the charity trustees shall in their sole discretion consider appropriate to such persons are or were of oaklands (or other property forming part of the trust fund) but who are now resident elsewhere by reason of their age, sickness, infirmity, disablement, poverty, or social and economic circumstances;3.3 thirdly, as to any surplus income (as determined in their absolute discretion from time to time by the charity trustees) in trust for each of the following as shall be subsisting from time to time in the proportions set opposite their names: -3.3.1 regent’s park baptist collegepusey street oxford 10%3.3.2 spurgeon’s child care30 mill street bedford 10%3.3.3 spurgeon’s collegesouth norwood london 10%these three charities being hereinafter referred to as “the charitiesâ€3.3.4 such charitable purpose or purposes as shall be nominated by the president for the time being of the baptist union of great britain 30%4/rwu/62173/003 25525407.23.3.5 such charitable purpose or purposes as shall be nominated by the president for the time being of the berkshire baptist association 20%3.3.6 such charitable purpose or purposes as shall be nominated by the president for the time being of the west midland baptist association 20%these three presidents being hereinafter referred to as “the nominatorsâ€provided that(a) all nominations made pursuant to this clause shall always be subject to the charity trustees absolute and final decision as to the payment and application of such share and the charity trustees shall make all appropriate payments direct to the charitable purpose or purposes so nominated.(b) the nominators shall not normally nominate the same charitable cause more frequently than once in seven years.(c) in the event of the cesser, merger, or amalgamation of any of the charities or of the organisation or office of any of the nominators, or in the event of any failure (within three calendar months of any written request to do so) by any nominator to make nominations of a charitable purpose or purposes, then any such shares which would be payable to such of the charities or at the direction of such of the nominators shall be held by the charity trustees and applied for such charitable purpose or purposes as the charity trustees shall determine from time to time.nothing in this constitution shall authorise an application of the property of the cio for the purposes which are not charitable.
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