The Company of Arts Scholars Charitable Trust

A) THE RELIEF OF POVERTY OR OF THOSE IN NEED ARISING BY REASON OF YOUTH, AGE, ILL-HEALTH, DISABILITY, FINANCIAL HARDSHIP OR BY REASON OF OTHER DISADVANTAGE WHERE IT IS CHARITABLE IN LAW TO RELIEVE THAT NEED;B) THE ADVANCEMENT OF EDUCATION FOR THE BENEFIT OF THE PUBLIC IN RELATION TO;1) ALL ASPECTS OF DECORATIVE AND HISTORIC ARTS AND THE DEVELOPMENT OF PUBLIC APPRECIATION OF SUCH ART; AND2) THE HISTORY OF THE CITY OF LONDON; ANDC) SUCH OTHER EXCLUSIVELY CHARITABLE OBJECTS AND PURPOSES; IN ANY PART OF THE WORLD AS THE TRUSTEES MAY IN THEIR ABSOLUTE DISCRETION THINK FIT.3.2 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 BY INVESTING THE SAME, AND THE RESULTING INCOME, IN ANY INVESTMENTS AUTHORISED BY THIS DEED OR BY LAW 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.