Finances:
Objects:
providing gifts for the benefit of junior pupils.for the benefit of scholars to be called junior and senior foundationers, elected inaccordance with the provisions of this scheme, as follows;a. the governors shall apply such portion of the said income as they think fit, having regard to the needs of senior as well as junior foundationers, inproviding gifts for junior foundationers.b. the governors shall apply the residue of said income in assisting senior foundationers to continue their education, after they have (in pursuance ofany statute or of any bye-law in force in the area in which they reside)become exempt wholly or partially from obligation to attend school, bylearning the theory and practice of skilled trades, industries, or employment, by means of apprenticeship or other modes of technical or industrialeducation; provided that the powers of the governors under this sub-clause shall be exercised in accordance with rules to be made by the governors withthe approval of the charities commission signified by writing.
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