Bishop Laney's Charity

THE RENTS AND PROFITS OF THE FOUNDATION TO BE EMPLOYED IN PUTTING OUT APPRENTICES TO SOME HONEST TRADE THE CHILDREN OF THE POOR INHABITANTS OF THE BENEFICIAL AREA, BUT IF THE INCOME CANNOT BE USEFULLY APPLIED IN APPRENTICING, THEN THE NET INCOME SHALL BE APPLIED IN ONE OR MORE OF THE FOLLOING WAYS:- (A) IN PROVIDINGFINANCIAL ASSISTANCE, OUTFITS, CLOTHING, TOOLS, INSTRUMENTS OR BOOKS TO ENABLE BENEFICIARIES ON LEAVING SCHOOL, UNIVERSITY, OR OTHER EDUCATIONAL ESTABLISHMENT, PREPARE FOR, OR ASSIST THEIR ENTRY INTO A PROFESSION, TRADE OR CALLING; (B) IN AWARDING EXHIBITION OR GRANTS TENABLE AT ANY SECONDARY SCHOOL, COLLEGE OF EDUCATION, UNIVERSITY OR OTHER ISTITUTION OF FUTHER (INCLUDING PROFESSIONAL AND TECHNICAL) EDUCATION; AND (C) IN OTHERWISE PROMOTING THE EDUCATION (INCLUDING SOCIAL AND PHYSICAL TRAINING) OR BENEFICIARIES. BENEFICIARIES MEANS YOUNG PERSONS WHO HAVE NOT ATTAINED THE AGE OF 25 YEARS WHO ARE RESIDENT IN THE BENEFICIAL AREA.