The Irene Ogden Memorial Fund

MY TRUSTEES SHALL INVEST MY TRUST FUND IN INVESTMENTS AUTHORISED BY LAW FOR THE INVESTMENT OF TRUST FUNDS AND SHALL APPLY THE ANNUAL INCOME THEREFROM IN THE PROVISION OF A GRANT OR GRANTS TO ASSIST THEM IN FULFILLING THEIR RESPECTIVE ACADEMIC ABILITIES AND TO ADVANCE THE EDUCATION OF SUCH OF THE PUPILS OR FORMER PUPILS OF BALSHAW'S HIGH SCHOOL CHURCH ROAD LEYLAND AFORESAID ("THE SCHOOL") WHO ARE UNDERTAKING OR ARE ABOUT TO UNDERTAKE AN ACADEMIC DEGREE COURSE AT A SUITABLE UNIVERSITY AND I DECLARE THAT:-(A) MY TRUSTEES SHALL HAVE AN ABSOLUTE DISCRETION AS TO:(I) WHICH ONE OR MORE OF SUCH PUPILS OR FORMER PUPILS SHALL QUALIFY FOR A GRANT(II) THE AMOUNT OF EACH INDIVIDUAL GRANT(III) WHICH DEGREE COURSE SHALL QUALIFY AS AN ACADEMIC DEGREE COURSE(IV) WHICH UNIVERSITY SHALL QUALIFY AS A SUITABLE UNIVERSITY(V) WHAT EVIDENCE SHALL BE REQUIRED TO PROVE THE APPLICANT IS A PUPIL OR FORMER PUPIL OF THE SCHOOL OR IS UNDERTAKING OR ABOUT TO UNDERTAKE A DEGREE COURSE(VI) THE FORM BY WHICH APPLICATIONS FOR A GRANT SHALL BE MADE(B) TO INVEST ANY INCOME NOT APPLIED IN ANY YEAR AND TO APPLY SUCH INCOME IN SUBSEQUENT YEARS AS INCOME OF THAT YEAR OR TREAT IT AS AN ACCRETION TO THE CAPITAL OF MY TRUST FUND(C) IN THE EVENT OF THE CLOSURE OF THE SCHOOL TO SUBSTITUTE AN ALTERNATIVE SCHOOL WHICH THEY IN THEIR ABSOLUTE DISCRETION CONSIDER TO BE THE MOST SIMILAR TO THE SCHOOL(D) TO APPLY THE WHOLE OR ANY PART OF THE CAPITAL OF THE TRUST FUND AS THOUGH IT WERE INCOME