sex who have not attained
residue of the net yearly income of the foundation
net income in providing such special benefits of any kind
Finances:
Objects:
(a)the governors may apply such yearly sum as they think fit, being not more than one-third of the said net income, in providing such special benefits of any kind not normally provided by the local education authority to any educational institution in the parish of newlyn (st newlyn east) as may from time to time be agreed between the educational institution or local education authority and the governors.†. (b) the residue of the net yearly income of the foundation shall be applied by the governors in one or more of the following ways for the benefit of persons of either sex who have not attained the age of 25 years, who are resident in the parish of newlyn and, who, in the opinion of the governors, 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 governors, to be awarded under rules to be made by the governors, 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 help beneficiaries on leaving school, university or any other educational establishment, to prepare for, or to enter, a profession, trade or calling;(c) otherwise promoting the education (including social and physical training) of beneficiaries.
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