Ackworth and Freshfield Educational Foundation

1. THE TRUSTEES MAY APPLY SUCH YEARLY SUM AS THEY SHALL FROM TIME TO TIME THINK FIT FROM THE NET INCOME IN PROVIDING SUCH SPECIAL BENEFITS FOR ACKWORTH SCHOOL AS AGREED UPON BETWEEN THE TRUSTEES AND THE SCHOOL COMMITTEE. THE RESIDUE OF THE NET YEARLY INCOME OF THE FOUNDATION SHALL BE APPLIED BY THE TRUSTEES IN ANY OF THE FOLLOWING WAYS:- (A) IN AWARDING TO BENEFICIARIES SCHOLARSHIPS, EXHIBITIONS, MAINTENANCE ALLOWANCES OR GRANTS TENABLE AT ACKWORTH SCHOOL OR ANY UNIVERSITY, COLLEGE OF EDUCATION, OR OTHER INSTITUTION OF FURTHER EDUCATION APPROVED BY THE TRUSTEES. (B) IN PROVIDING FINANCIAL ASSISTANCE, OUTFITS, CLOTHING, TOOLS, INSTRUMENTS OR BOOKS TO HELP BENEFICIARIES ON LEAVING SCHOOL, A UNIVERSITY OR ANY OTHER EDUCATIONAL ESTABLISHMENT TO PREPARE FOR, OR TO ENTER, A PROFESSION, TRADE OR CALLING. (C) IN AWARDING BURSARIES OR MAINTENANCE ALLOWANCES TO ENABLE BENEFICIARIES TO TRAVEL, WHETHER IN THIS COUNTRY OR ABROAD TO PURSUE THEIR EDUCATION. (D) IN PROVIDING FINANCIAL ASSISTANCE TO ENABLE BENEFICIARIES TO STUDY MUSIC OR OTHER ARTS. (D) IN OTHERWISE PROMOTING THE EDUCATION (INCLUDING SOCIAL AND PHYSICAL TRAINING) OF BENEFICIARIES. 2. WITHIN THE PRESCRIBED LIMITS, THE TRUSTEES SHALL HAVE FULL POWER TO MAKE RULES FOR THE AWARD OF SCHOLARSHIPS, EXHIBITIONS, MAINTENANCE ALLOWANCES, GRANTS OR OTHER BENEFITS, INCLUDING RULES AS TO THE VALUE AND PERIOD OF TENURE OF THE AWARDS, AND THE QUALIFICATIONS, AND METHOD OF ASCERTAINMENT AND SELECTION, OF BENEFICIARIES.