Holywood TrustRegistered

The Trust Estate shall be held by the Trustees in Trust always for the following purposes and subject to the following powers videlicet:- ... (Second) To apply (i) the whole of the free income or annual produce of the Trust Estate and (ii) such part of the capital of the Trust Estate as they may from time to time at their discretion decide for such objects and purposes recognised by the law of Scotland as charitable as the Trustees may from time to time in their sole discretion select declaring however that without prejudice to the said generality and without in any way fettering their said discretion they shall give particular consideration to the encouragement and promotion of the Arts (including the visual arts, literature, and music), to the provision of a museum or museums, to the provision or facilities for recreation in the interests of the social welfare of the general public, to the provision of rest homes and dwelling houses for those persons in need of assistance through age infirmity, disablement or reduced financial circumstances, and to benefiting elderly persons who by reason of age or other infirmity are unable to work and are in such necessitous or reduced circumstances as to require assistance (and that by providing financial assistance or benefits in kind).