Finances:
Objects:
(1) the trustees shall apply the income of the gayton educational foundation in one or more of the following ways:- (a) to promote the education of persons who are under the age of 25 years and in need of financial assistance and who, or whose parents are resident in the parish of gayton, and in particular but without prejudice to the generality of the foregoing in providing for such persons (i) scholarships,bursaries and maintenance allowances tenable at any school, university or other educational establishment approved by the trustees;(ii)financial assistance, outfits, clothing,tools, instruments or books to assist such persons to pursue their education (including the study of music and other arts), to undertake travel in furtherance thereof and to prepare for and enter a profession, trade or calling on leaving school university or other educational establishment.(b)in or towards providing, after consulting the local education authority maintaining any school in the said parish, special benefits for such school of a kind not normally provided by the authority.(c)in providing financial assistance to any charitable organisation in the said parish whose objects include the education or the improvement of the conditions of life of persons under the age of 25 years by developing their physical, mental and moral capacities through leisure-time activities. (2) in exceptional cases the trustees may grant assistance to persons otherwise eligible therefor who are resident immediately outside the said parish or have the trustees ought nevertheless to be treated as eligible for assistance.
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