The Simon Rivett-Carnac Trust

3.1 THE TRUSTEES SHALL HOLD THE CAPITAL AND INCOME OF THE CHARITY 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 TO, OR FOR THE BENEFIT OF, SUCH EXCLUSIVELY CHARITABLE OBJECTS AND PURPOSES IN ANY PART OF THE WORLD AS THE TRUSTEES MAY IN THEIR DISCRETION THINK FIT. 3.2 NOTWITHSTANDING THE PROVISIONS OF CLAUSE 3.1, 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 TRUST FUND 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 TRUST FUND, 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 TRUST FUND ARISING IN THE THEN CURRENT YEAR. 3.3 WITHOUT PREJUDICE OR LIMITATION TO THE FOREGOING, THE TRUSTEES MAY IN THEIR DISCRETION DECIDE TO CARRY OUT CHARITABLE ACTIVITIES FOR THE PUBLIC BENEFIT WHICH PROMOTE THE PRESERVATION OF MENTAL HEALTH AND THE ADVANCEMENT OF HEALTH OR SAVING OF LIVES, IN PARTICULAR BY PROVIDING GRANTS.