The Peguera Trust

2.1 TRUSTEES SHALL HOLD THE CAPITAL AND INCOME OF THE TRUST FUND UPON TRUST TO APPLY THE INCOME AND, IF THE TRUSTEES THINK FIT, ALL OR SUCH PARTS OF THE CAPITAL, AT SUCH TIME OR TIMES AND IN SUCH MANNER, TO OR FOR THE BENEFIT OF SUCH EXCLUSIVELY CHARITABLE OBJECTS OR PURPOSES IN PARTICULAR BUT NOT EXCLUSIVELY IN THE UNITED KINGDOM AS THE TRUSTEES MAY IN THEIR DISCRETION THINK FIT, FOR THE BENEFIT OF THE PUBLIC.2.2 TRUSTEES MAY IN THEIR DISCRETION, DURING THE PERIOD OF 21 YEARS FROM THE DATE OF THIS DEED, ACCUMULATE ALL OR ANY PART OF THE ANNUAL INCOME OF THE CHARITY BY INVESTING THE SAME, AND THE RESULTING INCOME, IN ANY AUTHORISED INVESTMENTS AND SHALL HOLD THE SAME AS AN ACCRETION TO AND AS PART OF THE CAPITAL OF THE TRUST FUND, WITHOUT PREJUDICE TO THEIR RIGHT TO APPLY THE WHOLE OR ANY PART OF SUCH ACCUMULATED INCOME IN ANY SUBSEQUENT YEAR AS IF IT WERE THE INCOME OF THE CHARITY ARISING IN THAT YEAR.