Kings Educational Foundation

NOT MORE THEN ONE THIRD OF THE NET INCOME IN PORVIDING SUCH SPECIAL BENEFITS OF ANY KIND NOT NORMALLY PROVIDED BY THE LOCAL EDUCATION PRIMARY SCHOOL AS MAY FROM TIME TO TIME BE AGRED BETWEEN THE AUTHORITY AND THE TRUSTEES. THE RESIDUE OF THE SAID NET YEARLY INCOME OF THE FOUNDATION SHALL BE APPLIED BY THE TRUSTEES IN ONE OR MORE OF THE FOLLOWING WAYS FOR THE BENEFIT OF PERSONS OF EITHER SEX WHO HAVE NOT ATTAINED THE AGE OF 25 YEARS WHO ARE RESIDENT IN THE PARISH OF DUXFORD AND WHO, IN THE OPINION OF THE TRUSTEES, ARE IN NEED OF FINANCIAL ASSISTANCE (A) IN AWARDING TO BENEFICIARIES EXHIBITIONS OF GRANTS TENABLE AT ANY SECONDARY SCHOOL, COLLEGE OF EDUCATION, UNIVERSITY OR OTHER INSTITUTION OF FUTTHER EDUCATION. (B) IN PROVIDING FINANCIAL ASSISTANCE, OUTFITS, CLOTHING, TOOLS, INSTRUMENTS OR BOOKS TO HELP BENEFICIARIES ON LEAVING SCHOOL, UNIVERSITY OR ANY OTHER EDUCATIONAL ESTABLISHMENT, TO PREPARE FOR OR ENTER A PROFESSION, TRADE OR CALLING. (C) IN OTHERWISE PROMOTING THE EDUCATION OF BENEFICIARIES FOR FURTHER DETAILS SEE CLAUSES 12 AND 13 OF SCHEME OF 18TH JULY 1967.