SCHEDULE.
Scheme for the Application and Management of the Charity called Archbishop Tenison's School andLibrary, in the Parish of Saint Martin in the Fields, in the County of Middlesex.
1. The Trustees of the Charity shall have Power to sell all or any of the Contents of the Library to the Governors of the British Museum, or to the Managers of any public Library or Institution, or to any other Purchasers, upon first submitting the Proposals for such Sale to the Board of Charity Commissioners for England and Wales, and obtaining their Approval thereof.
2. The net Produce of the Sale of the Library, and all other Principal Monies which shall accrue to the Charity, shall, until otherwise disposed of for the Purposes thereof, be invested in the Public Funds in the Name of ‘The Official Trustees of Charitable Funds,’ in trust for the Managing Trustees of the Charity, by whom the Dividends thereon shall be applied to the Purposes hereby directed; the Trustees, nevertheless, shall have Power to appropriate any Part of the Library which in their Judgment shall be applicable to the Purposes of the School hereby directed to be established, to the Uses of such School accordingly. The former Trusts of the Library shall cease when this Scheme shall come into operation.
3. All Stock to be purchased under the preceding Provision, and also the Sum of 1,000 l. 3 l. per Cent. Consolidated Annuities now belonging to the Charity, shall be specifically retained for the Purposes thereof, unless or until the same respectively shall, with the Approval of the said Board, be laid out on Real or other Securities, or in the Purchase of Real Estate, for the Benefit of the Charity, or otherwise disposed of for the Objects of this Scheme.
4. The Trustees shall apply the whole Income of the Charity to the Maintenance of a School, to be established and conducted according to the following Provisions, for the Benefit of the Sons of Inhabitants of the City of Westminster belonging to the Commercial and Middle and Lower Classes, to be enjoyed by them, upon Payment of such Capitation Fees, and under such Regulations as shall from Time to Time be required or established by the Trustees, with the Approbation of the said Board, but with the Preference herein-after reserved to the Sons of Inhabitants of the Parish of Saint Martin in the Fields.
5. The Trustees may remit any such Capitation Fees, either wholly or partially, to not more than Thirty Scholars at any One Time, as a Reward of their superior Merit, or in consideration of the comparative Poverty of their Parents or next Friends, or for other sufficient Cause.
6. The School shall bear the Title of Archbishop Tenison's School, and the Archbishop of Canterbury for the Time being shall be the Visitor thereof:
7. The Master of the School shall from Time to Time be appointed by the Trustees, after sufficient public Advertisements; and such Assistant or other Teachers as the Trustees shall be enabled by the Resources of...
