The Fielding Recreational Trust Fund

(A) AS TO ONE EQUAL THIRD PART OF THE TRUST FUND TO PAY THE INCOME THEREOF TO THE PAROCHIAL CHURCH COUNDIL OF THE PARISH OF ST MARK LAYTON (HEREINAFTER CALLED "THE COUNCIL") TO BE APPLIED BY THE COUNCIL TO ASSIST THE COUNCIL IN THE PAYMENT OF THE COST OF THE MAINTENANCE OF THE HOUSE OF RESIDENCE OF THE ASSISTANT CURATE OF THE SAID PARISH PROVIDED THAT IF AT ANY TIME THERE SHALL BE NO SUCH HOUSE OF RESIDENCE THE TRUSTEES SHALL ACCUMULATE THE SAID INCOME FOR A PERIOD OF UP TO FIVE YEARS SUCH INCOME TO BE ADDED TO THE CAPITAL OF THE SAID SHARE AND AT THE EXPIRATION OF THE SAID TERM OF FIVE YEARS TO APPLY THE SAID SHARE AS TO CAPITAL AND INCOME FOR SUCH OF THE PURPOSES OF THE COUNCIL AS ARE CHARITABLE AS THE TRUSTEES IN CONSULTATION WITH THE COUNCIL SHALL THINK FIT. (B) AS TO A FURTHER EQUAL THIRD PART THEREOF TO PAY THE SAME TO THE COUNCIL WHICH SHALL APPLY THE INCOME THEREOF IN FURTHERING THE CHARITABLE WORK OF THE CHURCH OF ENGLAND IN THE ECCLESIASTICAL PARISH OF ST MARK LAYTON OTHER THAN ITS RELIGIOUS WORK PROVIDED THAT THE COUNCIL MAY WITH THE APPROVAL OF THE TRUSTEES APPLY THE WHOLE OR ANY PART OF THE CAPITAL THEREOF IN RENOVATING, REFURBISHING, EXTENDING OR REPAIRING THE PAROCHIAL HALL OF THE SAID PARISH. (C) AS TO THE REMAINING ONE THIRD PART THEREOF TO APPLY THE ANNUAL INCOME THEREOF IN PROVIDING RECREATIONAL FACILITIES IN THE INTEREST OF SOCIAL WELFARE FOR THE BENEFIT OF THE INHABITANTS OF THE ECCLESIASTICAL PARISH OF ST MARK LAYTON AFORESAID.