The John Robinson Youth Chess Trust

TO ADVANCE EDUCATION BY PROVIDING OR ASSISTING IN THE PROVISION OF FACILITIES FOR THE TEACHING DEVELOPMENT AND SUPERVISION OF THE PLAYING OF CHESS AMONGST PERSONS UNDER THE AGE OF TWENTY ONE YEARS RESIDENT IN ENGLAND OR ELIGIBLE TO REPRESENT ENGLAND AT CHESS WHO ARE OR MAY BE INTERESTED IN CHESS AND BY STUDENTS ATTENDING SCHOOLS COLLEGES UNIVERSITIES AND OTHER EDUCATIONAL ESTABLISHMENTS IN ENGLAND AND TO APPLY THE INCOME AND ALL OR SUCH PART OR PARTS OF THE CAPITAL FOR OR TOWARDS SUCH CHARITABLE PURPOSES AND TO MAKE DONATIONS TO SUCH CHARITABLE INSTITUTION OR INSTITUTIONS AT SUCH TIME OR TIMES AND IN SUCH MANNER AS THE TRUSTEES MAY IN THEIR ABSOLUTE DISCRETION THINK FIT PROVIDED THAT THE TRUSTEES MAY AT THEIR ABSOLUTE DISCRETION FOR THE PERIOD OF TWENTY ONE 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 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 THE CHARITY ARISING IN THE THEN CURRENT YEAR