Mansion House Scholarship Scheme

THE TRUSTEES SHALL HOLD THE CAPITAL AND INCOME OF THE TRUST FUND UPON TRUST TO APPLY THE INCOME, AND ALL OR SUCH PART OR PARTS OF THE CAPITAL, AT SUCH TIME OR TIMES AND IN SUCH MANNER AS THE TRUSTEES MAY IN THEIR ABSOLUTE DISCRETION THINK FIT, HAVING CONSIDERED THE RECOMMENDATIONS OF THE LORD MAYOR, FOR OR TOWARDS THE ADVANCEMENT AND FURTHERANCE OF THE EDUCATION IN THE UNITED KINGDOM OR COUNTRIES IN ANY PART OF THE WORLD INCLUDING BUT NOT LIMITED TO THOSE FROM TIME TO TIME VISITED BY THE LORD MAYOR IN HIS OFFICIAL CAPACITY AND IN PARTICULAR, BUT WITHOUT PREJUDICE TO THE GENERALITY OF THE FOREGOING, TO PROVIDE GRANTS OR OTHER FINANCIAL ASSISTANCE, INCLUDING ASSISTANCE WITH TRAVEL EXPENSES TO AND FROM THE UNITED KINGDOM AND THE CREATION AND FUNDING OF SCHOLARSHIPS, BURSARIES OR PRIZES. THE TRUSTEES MAY IN THEIR DISCRETION, FOR THE PERIOD OF 21 YEARS FROM THE DATE OF THIS DEED, INSTEAD OF APPLYING THE INCOME OF THE CHARITY IN ANY YEAR, ACCUMULATE ALL OR ANY PART OF SUCH INCOME AT COMPOUND INTEREST BY INVESTING THE SAME, AND THE RESULTING INCOME, IN ANY OF THE AUTHORISED INVESTMENTS AND HOLD THE SAME AS AN ACCRETION TO AND AS PART OF THE CAPITAL OF THE CHARITY, WITHOUT PREJUDICE TO THEIR RIGHT TO APPLY THE WHOLE OR ANY PART OF SUCH ACCUMULATED INCOME IN ANY SUBSEQUENT YEAR AS IF THE SAME WERE INCOME OF THESE CHARITY ARISING IN THE THEN CURRENT YEAR.