King Edward VI Sheldon Heath Endowment Fund

1. THE TRUSTEE SHALL HOLD THE ENDOWMENT FUND ON THE FOLLOWING DECLARED TRUSTS: 1.1 THE INCOME OF ENDOWMENT FUND ARISING DURING EACH YEAR (BEING TWELVE MONTHS FROM THE DATE OF THIS DEED AND EACH TWELVE MONTH PERIOD THEREAFTER) SHALL BE APPLIED BY THE TRUSTEE TO ADVANCE EDUCATION FOR THE BENEFIT OF THE COMMUNITY OF BIRMINGHAM INCLUDING BUT WITHOUT LIMITATION BY: (I) ASSISTING AND SUPPORTING THE EDUCATION OF STUDENTS AT THE SCHOOL INCLUDING THE PROVISION OF AWARDS, PRIZES OR OTHER REWARDS; (II) RELIEVING THE FINANCIAL HARDSHIP OF PUPILS AND EX-PUPILS OF THE SCHOOL BY THE PROVISION OF BURSARIES, SCHOLARSHIPS, EQUIPMENT OR IN ANY OTHER WAY THE TRUSTEE THINKS FIT TO ENABLE THEM TO PURSUE THEIR EDUCATION; (III) PROVIDING GRANTS OR OTHER FINANCIAL ASSISTANCE TO ASSIST PUPILS IN FINANCIAL NEED TO UNDERTAKE EXTRA-CURRICULAR ACTIVITIES (INCLUDING EDUCATIONAL TRAVEL IN THE UNITED KINGDOM OR OVERSEAS); (IV) PROVIDING OR ASSISTING IN THE PROVISION OF SERVICES OR FACILITIES AT THE SCHOOL NOT PROVIDED FOR UNDER THE FUNDING AGREEMENT; (V) FOSTERING CLOSER TIES BETWEEN THE SCHOOL AND COMMUNITY, INCLUDING PROMOTING EDUCATION IN THE COMMUNITY SERVED BY THE SCHOOL. PROVIDED THAT IN CARRYING OUT THE FOREGOING DECLARED TRUSTS THE TRUSTEE MUST (WHERE APPLICABLE) HAVE REGARD TO ANY RELEVANT GUIDANCE ISSUED BY THE SECRETARY OF STATE FROM TIME TO TIME ON THE EXPENDITURE OF INCOME ARISING ON ENDOWMENT FUNDS.